Market Insights – 25th November 2019

Market Insights – 25th November 2019

Market Insights

25th November 2019

Top Stocks

CODE PRICE MOVEMENT   CODE PRICE MOVEMENT
CBA $79.60 -0.87%   NAB $26.28 -4.44%
BHP $37.19 -0.53%   TLS $3.56 -0.84%
WBC $24.77 -6.56%   WES $42.10 -0.36%
RIO $94.05 0.05%   CSL $269.65 -1.89%
ANZ $24.86 -2.51%   WOW $39.08 0.44%

Market and Exchange Rates

MAJOR FOREIGN MARKETS   AUSTRALIAN DOLLAR IS BUYING
All Ords 6,816.50 0.57%   US Dollar 0.6791
Dow Jones 27,875.62 0.39%   Euro 0.6165
FTSE-100 7,326.81 1.22%   GB 0.5282
Nikkei  23,112.88 0.32%   Yen 73.8441

Commodities

Oil (WTI) 57.870 -0.69%
Gold 1,461.500 -0.14%
Iron Ore 83.550 0.29%

Major Market Announcements

– Wall Street advanced on Friday as both Washington and Beijing made positive comments on the potential for a trade deal between the world’s two biggest economies and upbeat domestic economic data helped to ease investor worries.

– A2 Milk Company Ltd (ASX:A2M) got a mention today at the Sohn Hearts & Minds conference from portfolio manager Jun Bei Liu of Tribeca Investment Partners. The stock popped 10 cents on its mention as Jun’s stock pick for the conference rising to $14.10, up around 2% on the day. It’s been a strong week for the baby formula producer, which was trading below $12.00 on Monday.

– Westpac has frozen bonus payments for its entire executive team and several members of general management as it gets to the bottom of its money laundering scandal. Financial crimes watchdog AUSTRAC is taking Westpac to court, accusing it of committing 23 million breaches, including failing to adequately monitor the accounts of a convicted child sex offender who was regularly sending money to the Philippines. 

– Australia’s energy ministers have committed to ensuring more reliable household power supply in a bid to prevent summer blackouts. The agreement to strengthen the national reliability standard was the key outcome from Friday’s meeting in Perth between federal energy minister Angus Taylor and his state and territory counterparts – the first of its kind this year. The ministers will reconvene in March, when changes to the reliability standard are expected to be bedded down in time for next summer.

Market Update

The Australian sharemarket has closed higher for the first time since Tuesday, despite Westpac dragging the financial sector down.

The benchmark S&P-ASX 200 index finished Friday up 36.9 points to 6709.8, while the all ordinaries was up 38.8 points to 6816.5.

The ASX finished for the week down 83.9 points, or 1.24 per cent, although it’s still up 46 points for the month.

“We’re kind of treading water, flip-flopping with what’s happening with US-China trade,” said Mathan Somasundaram, market portfolio strategist at Blue Ocean Equities.

“Overall, for our market, we’re kind of going up and down, waiting for the global market to settle down.”

Every sector finished up on Friday except for financials, which were flat, and property trusts, which dropped 0.14 per cent.

Westpac dropped 1.6 per cent to $24.77, its lowest level since February, as its board said it “unreservedly apologises” for the money laundering and child exploitation scandal involving unmonitored payments to Southeast Asia.

Among the other big banks, Commonwealth rose 0.3 per cent to $79.60 and ANZ gained 0.2 per cent to $24.86, while NAB fell 0.2 per cent to $26.28.

Tech stocks were the biggest gainers, rising 1.5 per cent, with Xero up 2.2 per cent to an all-time high of $79.59WiseTech Global up 3.1 per cent to $27.19 and sports technology company Catapult Group up 13.6 per cent to $2.01.

In the heavyweight mining sector, BHP gained 1.3 per cent to $37.19, Rio Tinto gained 0.8 per cent to $94.05 and Fortescue Metals climbed 3.9 per cent to $9.50.

WA nickel miner Panoramic Resources gained 6.9 per cent to 39 cents after saying it would allow Independence Group and other possible suitors to conduct due diligence on the company.

Energy companies SantosWoodside PetroleumOil Search and Beach Energy were all up between 1.1 and 1.8 per cent as crude prices rose to two-month highs.

Mayne Pharma was the biggest ASX200 loser, falling 11.0 per cent to 48.5 cents after the drugs manufacturer said profit for the first four months of the financial year had slipped by a third.

“At these high levels, downgrades are not being forgiven,” Mr Somasundaram said.

Qantas was up 1.6 per cent to $7.14 after the consumer watchdog signalled it was likely to approve the airline’s tie-up with BP petrol stations.

Metcash tumbled 6.9 per cent to a two-week low of $2.83 after 7-Eleven declined to renew its contract with the wholesale food and beverage supplier.

Regenerative medicine company Avita Medical was the biggest ASX200 gainer, rising 7.7 per cent to 56 cents after falling for seven consecutive sessions.

The Aussie dollar is buying US67.88¢, from US67.99¢ on Thursday.

Share Watch

Webjet Limited (ASX: WEB)

Webjet Limited provides online travel booking services in Australia, New Zealand, Dubai, the United Kingdom, and internationally. The company enables its consumers to compare, combine and book domestic and international air travel, hotel accommodations, holiday packages, travel insurances, rental cars, motorhomes, and cruises. Webjet was founded in 1998 and is based in Melbourne, Australia.

What we like. . 

– Earnings Per Share growth has been excellent and is expected to continue

– Long term cash flow relative to reported profits is strong

– Return on Equity 11.10%

Consider purchasing this stock and always protect your capital with an exit strategy.

All Ordinaries (XAO) 5 Day Chart

Disclaimer: The advice provided is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Where quoted, past performance is not indicative of future performance.

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Drought Loans Available

Drought Loans Available

Drought Loans Available

drought-impacted-land

The details of the Government’s 1 billion dollar drought plan aren’t available yet but the following loans are available to farmers.

Farm Innovation Fund – NSW Residents Only

  • Borrow up to a maximum of $1mil to build on farm infrastructure
  • Interest rate 2.5%
  • Term is up to 20 years.
  • Security: Statutory Charge and registered caveat over the property.

https://www.raa.nsw.gov.au/loans/farm-innovation-fund

Drought Assistance Fund – NSW Residents Only

  • Up to $50k interest free loan.
  • Transport of livestock, fodder or water
  • Water and fodder infrastructure
  • Activities which promote profitability and resilience
  • Term: two years repayment free from the date loan is drawn down and then up to five years of principle only repayments
  • Security: Statutory Charge and registered caveat over the property.

https://www.raa.nsw.gov.au/loans/drought-assistance-fund

Drought Loan with Regional Investment Corporation (RIC)

  • Up to $2mil for refinancing (restructuring existing debt), accessing new debt for operation expenses and capital expenditure.
  • Interest rate: 3.11% variable rate
  • Term: 10 years – first 5 years interest only, then principal and interest for the remainder of the 10 year term.

https://www.ric.gov.au/sites/default/files/SiteCollectionDocuments/drought-loan-guidelines.pdf

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Mental Health Essentials

Mental Health Essentials

Mental Health Essentials

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Improve mental health in your workplace

Victorian Chamber of Commerce and Industry workplace Mental Health Essentials program offers free mental health training and consulting to small and medium sized businesses who employ young workers and want to create mentally healthy workplaces.

What you’ll get:

Who is eligible to participate?

You can participate in the Mental Health Essentials program if you employ a significant number of young workers (under 25) and are:

  • a small business (less than 20 employees)
  • a medium-sized business (less than 200 employees)

How do I apply?

Register your interest using Victorian Chamber of Commerce and Industry’s online form. One of their consultants will contact you to confirm your eligibility and discuss the next steps.

What does the Mental Health Essentials program involve?

One of their expert consultants will visit your business twice and provide the following services:

First visit

  1. Briefing session for business owner(s) and senior leaders on how to create and maintain a mentally healthy workplace, including:
    • The business case: why mentally healthy workplaces are productive and profitable
    • Your legal obligations: understanding how safety, workplace realtions, discrimination, workers’ compensation and privacy laws apply to mental health
  2. Assisting business owner(s) and senior leaders to complete Worksafe’s WorkWell toolkit and draft a simple, achievable mental health action plan

Second visit

  1. Mental health training for all workers, including:
    • Facts about mental health in Australia
    • Recognising early warning signs
    • Having a supportive conversation
    • Your role in a mentally healthy workplace
    • Tips to manage your own mental health
  2. Mental health training for managers, including:
    • Discussing mental health issues with workers
    • Communicating with doctors
    • Managing team impact
    • Making reasonable adjustments to people’s roles
    • Managing performance
  3. Discussion with business owner(s) and senior leaders on how your mental health action plan is progressing, including recommendations for ongoing action

Who pays for the Mental Health Essentials program?

The Mental Health Essentials program is supported by WorkSafe Victoria through the WorkWell Mental Health Improvement Fund.

It’s free for small and medium-sized businesses, however, they will expect you to demonstrate a genuine commitment to the program by:

  • encouraging your workers and managers to attend training
  • using WorkSafe’s WorkWell Toolkit to draft a mental health action plan and taking meaningful action on your chosen initiatives

Is information about my business confidential?

Yes. Any information that Victorian Chamber of Commerce and Industry collect about your business to provide the Mental Health Essentials program is confidential and will be handled according to their privacy policy.

WorkSafe Victoria funds the Mental Health Essentials program through the WorkWell program, but will not receive any information that identifies your business.

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Free OHS Essentials Program

Free OHS Essentials Program

Free OHS Essentials Program

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Learn more about your safety obligations and receive tailored advice on managing safety in your workplace with this free assessment service.

The Occupational Health and Safety (OHS) Essentials Program is a free safety consultation service, administered by WorkSafe but delivered by Victorian Chamber of Commerce and Industry qualified consultants.

The consultant will come to your workplace, learn about your business, identify any hazards and provide practical advice on how you might address them – all then documented in an easy-to-understand safety action plan.

The consultant will contact you post receipt of your action plan to discuss this in more detail and then visit your workplace again within 3-6 months of this visit to discuss any changes you have made based on your action plan and to provide further advice and support.

The consultant will then undertake a final visit within 9-12 months of your initial visit to discuss the progress of key actions identified, improvements made and any challenges that have impacted implementation of the action plan.

Safety essentials for small businesses

Who is eligible?

Victorian small businesses with less than 60 employees.

How long will it take?

The initial site visit will take up to 3.5 hours, the follow-up site visit will take up to 2 hours and the final visit will take up to 3 hours.

Apply now

To apply please complete and submit the application form or contact Victorian Chamber of Commerce and Industry on 03 8662 5333.

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Three Links In Supply Chain Penalised For Safety Breaches

Three Links In Supply Chain Penalised For Safety Breaches

Three Links In Supply Chain Penalised For Safety Breaches

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When it comes to Chain of Responsibility (CoR) compliance, no one in the supply chain is ‘out of sight, out of mind’.

Authorities in NSW demonstrated this when they stopped a B-Double travelling in an unauthorised area in Mulgrave on the outskirts of Sydney.

Not only did it result in multiple knock-on penalties for the driver, but also two other businesses in the supply chain, while another business was put on notice.

“An inspection of the combination established it was carrying dangerous goods consisting of 24.4 tonnes of used lead acid batteries and 1,080 litres of flammable liquid adhesives,” NSW Police reported.

“Issues were identified relevant to the vehicle and load, which were rectified before the vehicle could continue.

“As a result of an investigation with the assistance of the NSW Environment Protection Authority, Police issued penalty notices to a number of parties involved in the transport of the dangerous goods.”

The three parties involved were issued the following penalties:

  • A Victorian transport company was issued a $10,000 penalty for failing to ensure dangerous goods were transported safely.
  • A recycling facility in Wollongong was issued a $4,000 penalty for employing a person for a task without adequate supervision.
  • And the driver, a 58-year-old man from Victoria was issued with the following four penalties:
    1. Driving without a compliant emergency information holder – $260;
    2. Driving dangerous goods inappropriately placarded – $400;
    3. Driving a class 2 heavy vehicle not in accordance with authorisation – $674; and
    4. Not keeping a work diary as required – $674.

NSW Police reported that with the assistance of the NSW Environment Protection Authority, it is also working with a Victorian-based adhesives company to implement changes to its dangerous goods documents and procedures to ensure compliance.

“NSW Police and the NSW Environment Protection Authority will continue to monitor the involved companies and take action where appropriate,” it stated.

Do you have all the information you need to ensure your business is CoR compliant

Article courtesy of Portner Press

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