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Morningstar Afternoon Research Update Wed, Feb 20, 2013

20-Feb-2013

Special Announcements
There were no Announcements for today.

Research Updates (9)

Special Reports (0)
There were no special reports published today.

Funds (0)
There were no research reports published today.

Shares (9)
/Arrium (ARI) Sell
/Fletcher Building (FBU) Reduce
/Fletcher Building (FBU-NZ) Reduce
/News Corp (NWS) /Hold
/Precinct Properties New Zealand (PCT-NZ) Hold
/SEEK (SEK) Reduce
/SMS Management and Tech (SMX) Accumulate
/Suncorp Group (SUN) Hold
/Seven West Media (SWM) Hold

ETFs (0)
There were no research reports published today.

Fixed Income (0)
There were no research reports published today.

Australian Market Report

Wednesday 20 February – Local share markets managed to edge higher again to close out the day’s trading at another five-year high despite weakness in the materials sector. Spurred on by investor enthusiasm in the US markets, investors homed in on local earnings releases, heartened by positive results from Woodside Petroleum and Toll Holdings. Among the sectors, consumer staples, energy, and financials led the way forward, while materials and telcos struggled.

The All Ordinaries gained 14.00 points (0.27%) to 5,115.00 while the S&P/ASX 200 rose 16.80 points (0.33%) to 5,098.70. .. Read More

Australian Equities (20-Feb-2013 / Close) CloseChange% Change
/All Ordinaries5115140.27
/S&P/ASX 2005099170.33
/10-year Bond Rate3.56--0.14
/90 Day Bank Accepted Bills SFE-Day2.940.031.03
/3-yr Bond Rate2.910.010.34

Currency (20-Feb-2013 / Close) CloseChange% Change
/$A vs $US1.0361-0.0015-0.14
/$A vs GBP0.6710-0.0004-0.06
/$A vs YEN96.590.350.36
/$A vs EUR0.77230.00010.01
/$A vs $NZ1.2315-0.0095-0.77

ENDS

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Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

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Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

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Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

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Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

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Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

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SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

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