• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
Download
 
 
This material has been produced by RBS sales and trading staff and should not be considered independent.
The Round Up
7 December 2009
Issue No. 233
The Round Up is a comprehensive daily note produced by the RBS Warrantsteam providing an overview of market movements along with quality ideas forwarrant traders and investors.
In today’s issue
Global Market Action
Scoreboard, commentary
Aussie Market Action
SPI Comment, Events & Dividends
NWS (NWSKZJ) MINI Trading Buy
USD rebound, more value in TV
BXB (BXBKZG) MINI Trading Buy
– Recovery Story
ASX (ASXKZI) MINI Trading Buy
 – Strong November trading
 Round Up Corner Banks Update – ANZ,CBA,NAB,WBC
Equities
Move Last % Move Range Volume
ASX 200-72.44702.2-1.5% 
-87 to -14.u.c $4.0 bn(L)
SPI - yesterday-82.04706.0-1.7% 
-97 to -38.u.c 26,354(A)
Dow Jones+22.8 10388.9 +0.2%
-54 to +151
Very HighS&P 500+6.1 1106.0 +0.6%
-3 to +19
HighNasdaq+21.2 2194.4 +1.0%
-3 to +41
AvgFTSE+9.4 5322.4 +0.2%
-40 to +61
High
Commodities
Move Last % Today % Past Month
Oil-WTI spot-0.9975.47-1.3% -6.1%  Gold Spot-46.201161.40-3.8%+6.3% Nickel (LME)-0.23722.40-0.0% -10.7%  Aluminium (LME)+0.66 96.00 +0.7% +11.9%Copper (LME)-1.87317.74-0.6%+6.9% Zinc (LME)-1.88106.02-1.7%+6.1% Silver-0.3118.52-1.6%+6.1% Sugar-0.5921.95-2.6% -4.6% 
 
 
Dual Listed Companies (DLC’s)
Move %Move Last AUD Terms Diff to Aus
NWS (US)+0.37 +2.7% 14.29 15.63
+47.9 c
RIO (UK)-58.5 p -1.8%£31.25 56.16
-1569.4 c 
BLT (BHP UK)-41.0 p -2.1%£18.905 33.97
-742.8 c 
BXB (UK)-3.0 p -0.8%£3.518 6.32
-4.9 c 
American Depository Receipts (ADR’s)
Move %Move Last AUD Terms Diff to Aus
BHP (US)-1.86 -2.4%75.27 41.16
-23.7 c 
AWC (US)-0.03 -0.5%5.72 1.56
-2.1 c 
TLS (US)-0.32 -2.0%15.68 3.43
+1.0 c
ANZ (US)+0.08 +0.4% 20.34 22.25
+26.7 c
WBC (US)-0.53 -0.5%111.06 24.29
+25.4 c
NAB (US)-0.31 -1.2%25.85 28.27
+17.3 c
LGL (US)-2.07 -6.1%31.64 3.46
-6.9 c 
RMD (US)+0.73 +1.4% 52.25 5.71
+11.5 c
JHX (US)-1.58 -4.0%37.82 8.27
+9.2 c
PDN (CAN)-0.07 -1.7%3.97 4.11
-6.7 c 
Overnight Commentary
United States Commentary
 
Arguably, a more subdued reaction to better than expected payrolls on Friday night than most expected. Despite a betteroutcome from both Non-Farm and unemployment, the Dow finished well shy of highs up only 22pts, the S&P up 0.6% andthe Nasdaq finished 1% higher.
Eco -
A much better than expected result from Non Farm Payrolls, -11K vs -125K expected and a significant improvementon October's -190K. Unemployment for November ticking down slightly to 10.0% vs consensus and last months 10.2%.Change in Manufacturing Payrolls -45K vs -41K and Factory Orders +0.6% vs forecasts for a flat reading.
Bellwether Barometers -
To be expected following the better jobs data and any uptick in confidence around the health ofthe US economy, the likes of HP, Intel, Boeing, United Tech and 3M led the Dow higher. All of the aforementionedadding between 1.5%-3%, featuring in the top10 and together accounting for all of the days gains.
Fnancials -
Topping the Dow, BofA up 3.3% after completing their $19.3bln raising, the biggest sale of stock or preferredshares by a US public company since 2000. The fact the discount was less than 5% and the funds will be used to freethemselves from TARP, was enough to generate some buying across the rest of the sector, Regions up 3.8%, MorganStanley and GS up 2%.
Bonds -
Yields up 11.2bps, 8.8bps and 6.3bps across the 2, 10 and 30yr treasuries on the back of the better thanexpected jobs data. Aside from a tick in the box for the jobs market and economy as a whole, the numbers also served toshorten some traders timetables on the Fed's tightening regime.
United Kingdom & Europe Commentary
TheFTSEekedoutagainof0.2%or9ptsasstrongUSjobsdatapulledtheFTSEintopositiveterritory.TheFTSEEurofirst300wasup1.1%,theCACclimbed1.3%andtheDAXendedthesession0.8%higher.
UK Banks -
StandardChartered,off3.6%,wastheworstofthebanks,withthesectorweakerfollowingnewsthepricetagforthebailouthadhit£850bnwiththeNationalAuditOfficesayingthefullcostwontbeknownforyears.RBSwasoff1.4%andBarclaysdropped0.3%.
Beverages -
SABMillerwasup2.1%inLondonaftertheHeinekenbosssaidthetop4brewerswouldgreatlyincreasemarketshare.Heinekenjumped3.7%,Anheuser-BuschInBevadded0.7%andCarlsbergrose0.3%.
 
 
Defensives -
DrugmakersGSKandAstraZenecawereup2.2%and2.6%respectively.AstraZenecabenefitedfromnewsthattheUSregulatorhadapprovedanewversionofitsSeroquelanti-psychotic.AstraZeneca’soriginalformulationofSeroquellosespatentprotectionin2012.
Airlines -
BAledthewayontheFTSE100up2.8%afterabrokerupgradeandadditiontoits'BUY'list.ThenotesaidsynergieswithIberiacouldbestrongandthatpotentialdisposalscouldalsohelp.
Commodites Commentary
Miners -
ThestrongUSjobssawabounceinthedollarwhichsawthemetalscomeoff.TheminingstockswereabigfeatureintheworstperformerswithBHPfalling2.1%,Riodropped1.8%,Anglofell1.6%,Lonminsank2.6%andRandgoldwastheworstontheFTSE100off4.3%.
 
SPI Commentary
The SPI traded up 82pts or 1.72% to 4706. Open at 4788 with a high of 4805 and a low of 4691. Volume 28,797. Overnight the SPItraded up 28 to 4729.
 
SPI Intraday SPI Daily
 
*SPI report taken from the 9:50am open to the 4:30pm close on the previous trading day. Charts taken from IRESS 
Upcoming Economic Events for the Week
MondayAUS
Aus ANZ job ads
USTuesdayAUS
Aus NAB business confidence, Aus current account balance
US
US consumer credit
 
WednesdayAUS
Aus trade balance, Aus housing finance
 
USThursdayAUS
Aus unemployment rate
 
US
US wholesale inventories
 
NZ
NZ RBNZ cash rate decision
 
FridayAUSUS
US trade balance, US retail sales
*Dates are indicative only and may change 
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...