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Weekly Market Outlook


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The March quarter ended with further positive US economic data. Personal spending rose by 0.8% in February, and March’s Michigan confidence figure rose to 76.2 from 75.3 to reach the highest level in eleven months.

The Dow rose 66 points on Friday, or 0.5%, but the Nasdaq fell 0.1%, and the S&P 500 gained 0.4% to 1408. The S&P and Nasdaq finished up 12% and 20% respectively for the quarter.

London traders saw book-squaring in base metals on Friday night, with nickel up 3%. The oil markets were relatively quiet, with West Texas up US24c to US$103.02/bbl.

US dollar index was a little weaker at 78.99, while the Aussie dollar was also down 0.2% to US$1.0358. Gold closed up US$8.10 to US$1668.70/oz.

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Weekly Market Outlook

Feature Article - Bourse tipped for buoyant start on global optimism

Sydney Morning Herald 2/04/2012 | AUSTRALIAN stocks are expected to open firmer today as market players react to positive data from China and encouraging news from the US and Europe.  More...


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Upcoming Floats
Company Closing date Floating date Issue price
Boadicea Resources Ltd - - $0.20
Bora Bora Resources Limited - 18/04/2012 $0.20
Cuesta Coal Limited - 5/04/2012 $0.30
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Broker Consensus
Company Update Current price Brokers Buy, Hold, Sell Research report
AGL ENERGY LIMITED 2/04/2012 $14.79 8 Hold Download report
APA GROUP 2/04/2012 $5.12 8 Hold Download report
CROWN LIMITED 2/04/2012 $8.59 8 Hold Download report
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Changes in Director Interest
Company Date of change Quantity Change Type Research report
SANTOS LIMITED (STO) 30/03/2012 28 Acquired download report
SANTOS LIMITED (STO) 30/03/2012 796 Acquired download report
SANTOS LIMITED (STO) 30/03/2012 175 Acquired download report
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Dividend timetable
Company Comment Dividend per share Franking Ex-dividend date Payment date
MATRIX COMPOSITES & ENGINEERING LIMITED (MCE) Half Year Result 2 ¢ 100% 3/04/2012 30/04/2012
AUSTBROKERS HOLDINGS LIMITED (AUB) Half Year Result 9.5 ¢ 100% 3/04/2012 27/04/2012
GRANGE RESOURCES LIMITED. (GRR) Final Year Result 3 ¢ 0% 3/04/2012 27/04/2012
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News

Backing a hunch beats a cloudy crystal ball

Sun Herald 1/04/2012 | The sharemarket must always look ahead but it doesn't have perfect vision, writes David Potts.

Traders on watch for China news

Sydney Morning Herald 31/03/2012 | THE Australian dollar edged higher after a good performance in US stocks overnight. By late yesterday afternoon, the local currency was trading at US103.95?, up from US103.63? on Thursday.

Sustainable earnings and high yields

Sydney Morning Herald 31/03/2012 | Investors cannot simply target stocks with high-dividend yields assuming that the companies are in a position to keep paying those yields. High-dividend yields must be supported by sustainable earnings growth.

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