OzRant for Wednesday, November 17th 2010
Ords slides 1.62%; volume above average and losers dominate breadth stats by 9.5:1: sector indices down across the board. The NZSE50 closed down 0.8% for the day. In Japan, the Nikkei225 is currently trading down 0.2% for the session; Hong Kong's Hang Seng is down 0.7%.The KOSPI has lost 0.1% so far today.
The following economic data was released during the session:
- DEWR Skilled Vacancies m/m for November 2010 was released in Australia; the series posted a reading of -1.0% dropping 0.2 from the prior reading of -0.8%
- Wage Cost Index q/q for December 2010 was released in Australia; the series posted a reading of 1.1% a gain of 0.3 from the prior reading of 0.8% – less than the consensus estimate of 1.1%.
- Wage Cost Index y/y for December 2010 was released in Australia; the outcome was 3.5% advancing 0.5 from the prior reading of 3.0% – above expectations of 3.3%.
Major Market Indices
The broad market – the All Ordinaries (XAO) – dipped reasonably hard, registering a loss of 77.7 points (1.62%), finishing at 4705.1 points. The index hit an intraday high of 4782.8 at 10:00 am, while the low for the day was 4704.4 – set at 3:59 pm Sydney time.
Total volume traded on the ASX was 2.49bn units, 16.1% above its 10-day average of 2.15bn shares.The ASX's daily listing of all stocks included 1380 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 241 issues rose, with volume in rising issues totalling 384.2m units; there were 864 declining stocks, which traded aggregate declining volume of 1.61bn shares.
Of the 497 All Ordinaries components, 70 rose while 323 fell. Volume was tilted in favour of the losers by a margin of 9.5:1, with 98.1m shares traded in gainers while 934.85m shares traded in the day's losers.
The Index that forms the cash basis for the SPI Futures – the S&P/ASX 200 (XJO) – registered a loss of 76 points (1.62%), closing out the session at 4624.3 points.
|All Ordinaries||4705.10||-77.70 (1.6%)|
|ASX 20||2774.60||-44.40 (1.6%)|
|ASX 50||4604.80||-71.90 (1.5%)|
|ASX 100||3766.10||-59.30 (1.6%)|
|ASX 200||4624.30||-76.00 (1.6%)|
|ASX 300||4631.40||-76.70 (1.6%)|
|ASX Mid-Cap 50||4239.10||-71.70 (1.7%)|
|ASX Small Ordinaries||2689.00||-65.40 (2.4%)|
The "heavy hitters" of the Australian market – the ASX 20 Leaders (XTL) – registered a loss of 44.4 points (1.58%), closing out the session at 2774.6 points.
Among the 20 big guns, only one component – Commonwealth Bank Australia (CBA) – kept its head off the chopping block.CBA managed to add $0.01 (0.02%) to close at $49.90 and traded 5.82m shares in the process. The stocks which make up the index traded a total of 178.42m units; the lone rising index component had volume amounting to 5.82m shares, while the 20 decliners had volume traded totalling 172.6m units.
On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:
- RIO Tinto Ltd (RIO), -$2.75 (3.18%) to $83.69 on volume of 4.2 million shares;
- Woodside Petroleum Ltd (WPL), -$1.21 (2.87%) to $40.95 on volume of 6.6 million shares;
- Newcrest Mining Ltd (NCM), -$1.1 (2.68%) to $40.00 on volume of 3.2 million shares;
- Suncorp-Metway Ltd (SUN), -$0.24 (2.55%) to $9.19 on volume of 3.3 million shares; and
- BHP Billiton Ltd (BHP), -$0.98 (2.2%) to $43.47 on volume of 13.6 million shares.
The ASX Small Ordinaries (XSO) The small end of the market had significantly worse day than its large-cap counterpart. The Small Ords copped a bit of a hiding, sliding 65.4 points (2.37%), closing out the session at 2689 points.
Among the stocks that make up the Small Caps index, 30 index components finished to the upside, and of the rest, 163 closed lower for the session.
The 235 stocks which make up the index traded a total of 599.49m units: volume in the 30 gainers totalling 89.77m shares, with trade totalling 392.03m units in the index's 163 declining components. The major percentage gainers within the index were
- Ausenco (AAX), +$0.42 (16.87%) to $2.91 on volume of 6.7 million shares;
- Marion Energy Ltd (MAE), +$0.00 (16.67%) to $0.03 on volume of 1.4 million shares;
- Carbon Energy Ltd (CNX), +$0.06 (15.19%) to $0.46 on volume of 5.6 million shares;
- Carbon Energy Ltd (CNX), +$0.06 (15.19%) to $0.46 on volume of 5.6 million shares; and
- Reverse Corp (REF), +$0.01 (5%) to $0.11 on volume of 7.5 thousand shares.
In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):
- Oakton Ltd (OKN), -$0.48 (15.48%) to $2.62 on volume of 2.1 million shares;
- Bannerman Resources Ltd (BMN), -$0.08 (11.9%) to $0.56 on volume of 4.2 million shares;
- RiverCity Motorway Group (RCY), -$0 (8.33%) to $0.01 on volume of 801 thousand shares;
- Karoon Gas Australia Ltd (KAR), -$0.74 (8.1%) to $8.40 on volume of 2.6 million shares; and
- Alliance Resources Ltd (AGS), -$0.04 (7.84%) to $0.47 on volume of 387.9 thousand shares.
|XMD||ASX Mid-Cap 50||4239.1||-71.7||-1.66||275.9m|
|XSO||ASX Small Ordinaries||2689||-65.4||-2.37||501.8m|
GICS Industry Indices
Among the 11 industry indices, the news was universally negative: not a single sector managed to break into the "Win" column.
Since none of the industry sectors registered a gain for the session, there is no point in burdening ourselves with the internal behaviour of advancing sectors… on to the losers.
The worst-performed index for the session was Energy (XEJ), which dipped 435.4 points (2.79%) to 15161.6 points. The 23 stocks which make up the index traded a total of 134.3m units; The 20 decliners had volume traded totalling 67.41m units, – none of the index components ended with a gain. The major percentage decliners within the index were
- Karoon Gas Australia Ltd (KAR), -$0.74 (8.1%) to $8.40 on volume of 2.6 million shares;
- ROC Oil Co Ltd (ROC), -$0.03 (6.1%) to $0.39 on volume of 9.4 million shares;
- Paladin Energy Ltd (PDN), -$0.22 (4.79%) to $4.37 on volume of 7.8 million shares;
- Extract Resources Ltd (EXT), -$0.39 (4.58%) to $8.12 on volume of 484.5 thousand shares; and
- Eastern Star Gas Ltd (ESG), -$0.04 (4.32%) to $0.78 on volume of 4.2 million shares.
Just missing out on the wooden spoon was Materials (XMJ), which slid 336.7 points (2.45%) to 13385.6 points. The 46 stocks which make up the index traded a total of 389.91m units; The 40 decliners had volume traded totalling 304.49m units, and 3 index components rose, with rising volume amounting to 41.29m shares, The major percentage decliners within the index were
- Mount Gibson Iron (MGX), -$0.17 (7.8%) to $2.01 on volume of 10.4 million shares;
- PanAust Ltd (PNA), -$0.06 (7.19%) to $0.71 on volume of 39.6 million shares;
- PaperlinX Ltd (PPX), -$0.03 (6.59%) to $0.43 on volume of 6.2 million shares;
- Medusa Mining Ltd (MML), -$0.42 (6.39%) to $6.15 on volume of 1.8 million shares; and
- St Barbara Ltd (SBM), -$0.03 (6.38%) to $0.44 on volume of 12.4 million shares.
Third-to-last amongst the sector indices was Information Technology (XIJ), which slid 12.3 points (2.02%) to 595.6 points. The 3 stocks which make up the index traded a total of 2.13m units; The 3 decliners had volume traded totalling 2.13m units, – none of the index components ended with a gain. The major percentage decliners within the index were
- SMS Management & Technology Ltd (SMX), -$0.18 (2.52%) to $6.96 on volume of 192 thousand shares;
- Computershare Ltd (CPU), -$0.22 (2.22%) to $9.67 on volume of 1.7 million shares; and
- Iress Market Technology Ltd (IRE), -$0.09 (1.04%) to $8.60 on volume of 190.6 thousand shares.
|XXJ||Financials ex Property Trusts||4996.3||-55.6||-1.1||113m|
All Ordinaries Major Movers
All Ords Volume Leaders
|TLS||Telstra Corp Ltd||2.56||-0.02||-0.78||43.1m|
|LGL||Lihir Gold Ltd||4.48||0.00||0||41.1m|
|LYC||Lynas Corporation Ltd||1.36||0.04||3.04||37.9m|
All Ords Percentage Gainers
|MAE||Marion Energy Ltd||0.03||0.00||16.67||1.4m|
|CNX||Carbon Energy Ltd||0.46||0.06||15.19||5.6m|
|CNX||Carbon Energy Ltd||0.46||0.06||15.19||5.6m|
All Ords Percentage Losers
|PBT||Prana Biotechnology Ltd||0.14||-0.02||-12.5||20.5k|
|BMN||Bannerman Resources Ltd||0.56||-0.08||-11.9||4.2m|
|MLX||Metals X Ltd||0.25||-0.03||-9.26||3.5m|
|CSS||Clean Seas Tuna Ltd||0.10||-0.01||-9.09||756.5k|