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Morningstar Morning Research Update Friday, Dec 21, 2012

Friday, 21 December 2012, 10:52 am
Press Release: Morningstar

21-Dec-2012

Overseas Market Report
Stocks moved higher as Republican, John Boehner stated he was going to keep working on a fix to the fiscal cliff.

Third-quarter GDP was revised upwards today to 3.1% from 2.7%. Economists had expected a more modest uptick. The Commerce Department now thinks that consumer spending rose 1.6% in the quarter compared to the previous estimate of 1.4%. GDP also looked better than previous thought due to lower levels of exports, mainly due to lower oil prices... Read More

Foreign Equities (21-Dec-2012 / Close)	Close	Change	% Change
Dow Jones (US)	13312	60	0.45
S&P 500	1444	8	0.55
NASDAQ	3050	6	0.20
FTSE 100 Index	5958	-3	-0.05
DAX 30	7672	4	0.05
CAC 40	3667	2	0.06
Nikkei 225 (Japan)	10039	-121	-1.19
HKSE	22660	36	0.16
SSE Composite Index	2168	6	0.28
BSE Sensitive	19454	-22	-0.11
NZ 50	4075	52	1.30

Commodities (21-Dec-2012 / Close)	Close	Change	% Change
Aluminium	2026	-22	-1.09
Copper	7743	-154	-1.96
Nickel	17502	-173	-0.98
Gold	1648	-21	-1.28
Silver	29.9	1.1	3.72
Oil - West Texas crude	90.0	1.6	1.79
Lead	2305	-14	-0.63
Zinc	2037	-17	-0.82

Currency (21-Dec-2012 / Close)	Close	Change	% Change
$A vs $US	1.0483	-0.0009	-0.09
$A vs GBP	0.6440	0.0004	0.06
$A vs YEN	88.47	-0.25	-0.28
$A vs EUR	0.7916	0.0010	0.13
$A vs $NZ	1.2563	-0.0026	-0.21
$US vs Euro	0.7551	0.0016	0.21
$US vs UK	0.6143	0.0010	0.16
$US vs CHF	0.9115	0.0021	0.23

Research Updates (7)

	Special Reports (0)
	There were no special reports published on the previous business day.

	Funds (3)
	Colonial First State FirstChoice Asian Share (15001)		Neutral
	Colonial First State FirstChoice Emerging Markets (16844)		Neutral
	Perennial Value Smaller Companies (8628)		Silver

	Shares (4)
	APN (APN)		Reduce
	Dexus Property (DXS)		Hold
	FKP (FKP)		Accumulate
	Orica (ORI)		Hold

	ETFs (0)
	There were no research reports published on the previous business day.

	Fixed Income (0)
	There were no research reports published on the previous business day.

ENDS

Business Headlines | Sci-Tech Headlines

BUSINESS, SCIENCE & TECH > >

Scoop Business: MRP Senior Managers In Line For $1.2M In Bonus Shares

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Mighty River Power - IPO signals next phase in evolution of Mighty River Power

Scoop Business: NZ Houses Overvalued By 25%, IMF Says

New Zealand housing is already overvalued by about 25 percent and if it continues to rise may force the Reserve Bank to hike interest rates, according to the International Monetary Fund. More>>

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International Monetary Fund - IMF Concludes Consultation with New Zealand, Releases Report
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Greens - IMF confirms National’s failure to rebalance economy

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Trust Planned: Shared Vision For Mackenzie Basin Welcomed

Conservation Minister Dr Nick Smith and Environment Minister Amy Adams today welcomed a report proposing a way to manage the contentious land intensification, water, landscape, and biodiversity issues in the Mackenzie Basin. More>>

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Scoop Business - Deadlock breaks on plans for Mackenzie Country dairying
Labour - MacKenzie plan about development not conservation
Greens - Greater commitment needed to protecting Mackenzie Basin
Environmental Defence Society - EDS welcomes successful outcome of Mackenzie Country forum
Federated Mountain Clubs - Call for the govt to fund Mackenzie Country Trust
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Federated Farmers - Mackenzie agreement confirms it is a working landscape
2010 image - Iconic NZ Landmark Celebrates 75 Year Milestone

Scoop Business: Fidelity Acquires Most Of Tower’s Life Business For Net $70M

Fidelity Life Assurance has acquired most of Towers life insurance business for a net amount of about $70 million, propelling the closely held company to the third-largest in the market. More>>

ALSO:

Fidelity Life - Fidelity Life becomes NZ’s third largest life insurer
Tower - TOWER Life business sold to Fidelity

The Friendly Skies: Air NZ Pressures Regulator To Drop ‘Untenable’ Cartel Case

Air New Zealand, the national carrier slated for a partial sell-down by the government, has ramped up pressure on the Commerce Commission to drop its long-running pursuit of the airline’s alleged involvement in a global cartel on air cargo surcharges. More>>

ALSO:

Air NZ - Air New Zealand seeks court declaration - Cargo case: key witness retracts evidence

Scoop Business: NZ Jobless Rate Falls To 6.2% On Record Employment Jump

New Zealand’s jobless rate fell to a three-year low in the first three month of the year as the employment rate grew for the first time in four quarters, fuelled by demand for workers in Canterbury. More>>

ALSO:

Statistics NZ - Labour Market Showing Signs of Improvement
NZ Govt - HLFS shows encouraging job growth - Budget 2013: Expansion of Māori and Pasifika trades training
Labour - Disaster recovery is not a plan for jobs - Unemployed Kiwi youth rate no cause for celebration - Pacific unemployment far too high
Greens - Key fails to keep jobs promise
CTU - Aim should be jobs for all
BusinessNZ - Cautious optimism in employment data

New SOP: No Patents For Computer Software

“Following consultation with the NZ software and IT sector, I am pleased to be further progressing the Patents Bill with this SOP. These changes ensure the Bill is consistent with the intention of the Commerce Select Committee recommendation that computer programs should not be patentable,” says Mr Foss. More>>