Wren Advisers Daily Update
Summary: Friday 14-February-2020
Australia Value Chg
S&P/ASX All Ordinaries Index 7,234.7 30.1
S&P/ASX 200 Index 7,137.3 34.1
ASX Volume (million) 2,062.9 -29.4
ASX Advances 577 ---
ASX Declines 572 ---
ASX Value ($ million) 7,320.9 114.0
RBA cash rate 0.75 0.00
90 day bank bill rate 0.91 0.00
10 year Treasury bond yield 1.05 0.00
AUD/USD 0.6719 0.0000
AUD/TWI 58.4 0.0
USD/JPY 109.78 -0.07
EUR/USD 1.0834 -0.0033
Asia Value Chg
Nikkei 225 Index 23,687.6 -140.1
Hang Seng Index 27,815.6 85.6
Europe Value Chg
FTSE 100 Index 7,409.1 -42.9
DAX Index 13,744.2 -1.2
North America Value Chg
Dow Jones Industrial Average 29,398.08 -25.23
NYSE Volume (million) 835.5 19.5
NYSE Advances 1,505 ---
NYSE Declines 1,406 ---
NASDAQ Composite Index 9,731.18 19.21
NASDAQ Volume (million) 2,232.7 -40.7
NASDAQ Advances 1,422 ---
NASDAQ Declines 1,763 ---
US 3 month Treasury bill rate 1.58 -0.01
US 10 year Treasury bond yield 1.59 -0.03
Commodities Value Chg
London PM gold price (US$/oz) 1,581.40 6.35
WTI crude oil price (US$/bbl) 52.25 0.71
Market News
Bank stocks and defensive industrials drive the local share market to 7,130.2 - just below its record high of 7132.7 set on 22 January 2020. Resources lose ground, especially gold and energy stocks. Strong demand pushes ASX trading turnover above $7 billion for a third consecutive day.

S&P/ASX 200 Intraday

Strong buying lifts Commonwealth Bank (CBA) by 2.6% to a four-year high of $90.99. The other Big Four banks also do well with National Australia Bank (NAB) +3.3%, Westpac Banking Corp (WBC) +1.1% and ANZ Banking Group (ANZ) +0.7%.

Baby Bunting Group (BBN) slumps 11.1% after reporting a lower-than-expected 0.6% rise in half-yearly net profit. Revenue for the period was up 4.9%. The company expects full-year same store sales growth to be 'low to mid-single digits' and net profits to be 'in the range of $20.0 million to $22.0 million.'

Dental materials group SDI (SDI) jumps 8.6% after posting an 11.9% rise in half-yearly net profit. Revenue was up 7.7%.

S&P/ASX Sector Indices (% change)

Caltex Australia (CTX) slips 0.5% to $33.55 despite yesterday's news that suitor Alimentation Couche-Tard had submitted a new indicative bid of $35.25 per share, up $0.75 per share on its previous offer.

Education services provider 3P Learning (3PL) trades lower for most of the session but closes flat after announcing an interim loss of $1.8 million, down from a net profit of $1.9 million in the same period last year.

Shares in recruitment and human resources firm People Infrastructure (PPE) sink 3.6% after it reports a 9.0% rise in half-yearly net profit. Revenue was up 46.4% but earnings per share were down 3.1% on a year ago.

ASX Market Moving Stocks

Preliminary Eurozone GDP figures suggest growth of just 0.1% in the December quarter 2019 and yearly growth of 0.9%.

Wall Street ends the week higher despite ongoing concerns about the spread of the coronavirus. Media reports suggest that China is understating the true number of cases.

US retail sales rise by 0.3% in January 2020, in line with market forecasts.

US industrial production falls 0.3% in January 2020 (consensus: -0.3%) and manufacturing output was down 0.1% (consensus: -0.2%).

Asset Class Performance (Yearly % total return)

WARNING: While all care has been taken in the preparation of this database (using sources believed to be reliable and accurate), we do not accept responsibility for any loss suffered by any person arising from reliance on this information. This update must not be reproduced in whole or in part without the express written consent of Wren Advisers. The information is of a general nature only and has not been prepared to take into account any particular investor's objectives, financial situation or needs. Investors should seek professional advice from a financial adviser before making any investment decisions based on this information. All figures in Australian dollars unless otherwise indicated.

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