Holiday Pause

au.investing.com/analysis/holiday-pause-200197393

Holiday Pause

By CMC Markets (Ric Spooner) | Feb 20, 2018 10:36

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AXJO

-0.25%

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WDS

+1.18%

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APO

0.00%

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Originally published by CMC Markets

This morning’s soft opening represents a largely neutral macro stance for the S&P/ASX 200 index. With US and Chinese markets closed, the index has opened inside yesterday’s range and in wait and see mode. Investors are waiting on a number of developments including the BHP profit result; this week’s bond auctions in the US and the Fed minutes.

The divergence of opinion on Woodside Petroleum's (AX:WPL) capital raising and Scarborough acquisition could lead to share price volatility for a while yet. At the end of the day, management have done what the market was asking for and patiently put together a suite of growth assets. Development of assets like these carries inevitable risk and those risks are gradually increasing as available gas resources become less accessible and/or carry greater political risk. The current sell-off provides an opportunity to access Woodside’s growth potential and assume its growth risk at a more favourable entry point.

APN Outdoor Group (AX:APO) failed to justify yesterday’s rally with this morning’s result. Revenue growth was moderate at 4% and management noted that trading so far this year is in line with expectations, implying ongoing low/moderate growth.

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S&P/ASX 200	7,539.00	-19.10	-0.25%
ASX 200 Futures	7,471.5	-18.0	-0.24%
ASX All Ordinaries	7,745.90	-25.90	-0.33%
US 500	4,111.8	-24.7	-0.60%
Dow Jones	33,926.01	-127.93	-0.38%
China A50 Futures	13,465.0	-168.0	-1.23%
Dollar Index	103.010	+0.255	+0.25%

Crude Oil WTI	73.91	+0.52	+0.71%
Natural Gas	2.437	+0.027	+1.12%
Gold	1,885.90	+9.30	+0.50%
Silver	22.480	+0.075	+0.33%
Copper	4.0542	-0.0023	-0.06%
US Sugar #11	21.11	-0.13	-0.61%
US Coffee C	172.58	-0.22	-0.13%

Australia 10Y	3.507	+0.039	+1.12%
Australia 5Y	3.202	+0.006	+0.19%
New Zealand 10Y	3.964	0.013	0.34%
U.S. 10Y	3.601	+0.069	+1.95%
Japan 10Y	0.491	-0.004	-0.91%
China 10Y	2.924	+0.022	+0.76%
Singapore 10Y	3.033	+0.011	+0.38%

CSL	311.92	-1.89	-0.60%
Woolworths	36.540	+0.030	+0.08%
ANZ Holdings	25.580	-0.170	-0.66%
Commonwealth Bank Australia	110.750	-0.400	-0.36%
Telstra Group	4.140	-0.010	-0.24%
National Australia Bank	31.880	-0.020	-0.06%
BHP Group Ltd	48.200	+0.290	+0.61%

Holiday Pause

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