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DAILY RUNG
14/03/2019

A daily feed of market essentials

14.03.2019

Daily Rung

US: Technology and health care companies led Wall Street higher on Wednesday with all three major indexes finishing between 0.6% to 0.7% higher.

- Chipmaker Nvidia added 3.4%, whilst CVS Health rose 3.3% as health care stocks rose broadly. Oaktree Capital Group jumped 12.2% on news that Brookfield Asset Management is buying 62% of the company.

- The Commerce Department said that US construction spending jumped 1.3%, which is biggest increase in nine months. This was boosted by investments in public projects, which have risen to an eight-year high.

EUROPE: European shares finished broadly flat after investors continue to focus on the uncertainty of Brexit as British lawmakers voted to reject a no-deal Brexit. The STOXX 600 was down 0.05%.

- Adidas announced that its sales growth in the first half of 2019 would be hit by supply chain issues, especially in North America. Shares in the company plummeted 5.5%.

- Shares in owner of fashion label Zara, Inditex, dropped nearly 5% after the company published annual earnings slightly below analysts’ expectations.

LOCAL: Local shares finished in the red for a fourth straight session. The ASX 200 ended 0.22% lower at 6,616.2.

- Shares in Sigma Health slumped 12.3% after rejecting an indicative takeover offer from Australian Pharmaceutical Industries Limited. API have stated that it will sell its 13% stake in Sigma. Shares in API were down 3.6%.

- Gold miners Saracen Mining and Newcrest Mining were among the top performers in the ASX200 closing 5.2% and 3% higher, respectively.

Daily Chart

Source: Bloomberg, Escala Partners
Enlarge

With the forward yield of the ASX 200 remaining fairly stable at 4.5-5% over the last few years, the yield gap between domestic equities and fixed income benchmarks (term deposits and Australian 10 year government bond yield) has continued to grow. When franking credits are added to the Australian equity yield, the gap between the 10 year bond is now approximately 4%.

Daily Data

Daily Weekly Monthly Quarterly Yearly
Equities Close +/- % % % % %
S&P/ASX 200  6,161.2  -13.6  -0.22%  -1.35%  +1.61%  +8.82%  +3.12% 
S&P/ASX 200 SPI  6,182.0  +20.0  +0.32%  -1.40%  +2.81%  +11.31%  +6.33% 
S&P/ASX 200 Accumulation  64,857.6  -118.9  -0.18%  -1.03%  +2.59%  +10.42%  +7.71% 
Dow Jones  25,702.9  +148.2  +0.58%  +0.11%  +0.62%  +4.49%  +2.78% 
S&P 500  2,810.9  +19.4  +0.69%  +1.42%  +2.10%  +6.05%  +1.65% 
Nasdaq  7,643.4  +52.4  +0.69%  +1.83%  +3.01%  +8.11%  +1.76% 
STOXX 600  375.6  +2.4  +0.63%  +0.03%  +2.91%  +7.49%  +0.03% 
FTSE 100  7,159.2  +8.0  +0.11%  -0.51%  -0.44%  +4.10%  +0.29% 
DAX  11,572.4  +48.2  +0.42%  -0.13%  +3.63%  +5.93%  -5.31% 
CAC 40  5,306.4  +36.1  +0.69%  +0.33%  +4.57%  +8.36%  +1.21% 
Nikkei 225  21,290.2  -213.4  -0.99%  -1.42%  +0.69%  -2.41%  -3.09% 
TOPIX  1,592.1  -13.4  -0.84%  -1.44%  +0.17%  -1.52%  -9.08% 
Hang Seng  28,807.5  -113.4  -0.39%  -0.79%  +1.09%  +8.61%  -8.84% 
Shanghai CSI 300  3,724.2  -31.2  -0.83%  -3.22%  +9.63%  +15.67%  -8.97% 
NZ 50  9,387.7  -9.6  -0.10%  -0.29%  +0.58%  +6.76%  +10.79% 
S&P 500 Sectors Close +/- % % % % %
Consumer Discretionary  871.2  +3.4  +0.39%  +0.09%  +0.79%  +5.73%  +3.62% 
Consumer Staples  565.9  +3.9  +0.70%  +1.57%  +1.05%  -0.09%  +1.17% 
Energy  485.0  +5.2  +1.09%  +0.64%  +1.55%  +3.83%  -2.67% 
Financials  437.9  +3.2  +0.73%  +0.82%  +0.88%  +8.17%  -9.67% 
Health Care  1,062.9  +11.6  +1.10%  +1.91%  +0.70%  +0.04%  +6.67% 
Industrials  628.0  +5.7  +0.92%  +0.04%  -0.49%  +10.32%  -2.84% 
Information Technology  1,263.7  +8.6  +0.69%  +2.42%  +4.54%  +9.12%  +3.66% 
Materials  349.4  +1.8  +0.53%  +1.59%  +3.17%  +8.34%  -8.14% 
Real Estate  220.9  +1.1  +0.50%  +2.57%  +2.87%  +7.18%  +14.74% 
Communication Services  159.2  +0.4  +0.25%  +1.80%  +4.48%  +9.08%  +1.36% 
Utilities  294.4  +0.4  +0.15%  +2.13%  +4.49%  +2.58%  +17.57% 
Commodities Close +/- % % % % %
Oil (WTI)  $58.34  +$1.47  2.58%  +3.77%  +7.42%  +9.39%  +1.98% 
Oil (Brent)  $67.65  +$0.98  +1.47%  +2.52%  +6.40%  +9.22%  +9.79% 
Gold  $1,309.12  +$7.54  +0.58%  +1.77%  +0.22%  +5.41%  -1.31% 
Silver  $15.45  +$0.01  +0.09%  +2.50%  -0.75%  +4.77%  -6.84% 
Iron Ore  $82.26  -$0.77  -0.93%  -1.40%  -1.92%  +21.88%  +20.23% 
Coking Coal  $184.06  +$0.93  +0.51%  -3.12%  -2.90%  +3.02%  -7.73% 
Thermal Coal  $90.35  -$0.40  -0.44%  -7.29%  -3.01%  -11.55%  -4.74% 
Copper  $2.94  +$0.00  +0.01%  +0.07%  +5.67%  +5.16%  -6.80% 
Aluminium  $0.86  +$0.01  +1.71%  +0.60%  +2.42%  -1.40%  -9.42% 
Nickel  $5.99  +$0.05  +0.80%  -5.80%  +6.49%  +21.75%  -4.79% 
Lead  $0.97  +$0.02  +2.13%  +0.47%  +5.42%  +9.26%  -10.90% 
Tin  $9.59  -$0.08  -0.82%  -3.87%  +0.24%  +9.02%  -0.05% 
Zinc  $1.29  +$0.00  +0.32%  +0.91%  +9.63%  +10.95%  -13.60% 
Interest Rates Close +/- % +/- +/- +/- +/-
RBA Cash Rate  1.50%  +0.000%     +0.000%  0.000%  0.000%  0.000% 
90 Day Bank Bill  1.86%  -0.011%     -0.010%  -0.120%  -0.140%  -0.070% 
180 Day Bank Bill  1.95%  +0.000%     -0.010%  -0.155%  -0.220%  -0.120% 
Australian 3 Year Bond  1.53%  -0.066%     -0.064%  -0.155%  -0.461%  -0.585% 
Australian 10 Year Bond  1.96%  -0.071%     -0.133%  -0.188%  -0.504%  -0.842% 
US 10 Year Bond  2.62%  +0.020%     -0.072%  -0.081%  -0.292%  -0.221% 
US 30 Year Bond  3.02%  +0.025%     -0.055%  -0.015%  -0.154%  -0.082% 
iTraxx  68.42  +0.36     +0.8  -5.1  -17.6  +12.8 
Currencies Close +/- % % % % %
AUD/USD  0.709  +0.001  +0.17%  +0.88%  +0.06%  -1.84%  -9.75% 
AUD/JPY  78.87  +0.01  +0.01%  +0.34%  +0.22%  -3.95%  -5.85% 
AUD/EUR  0.626  -0.001  -0.18%  +0.71%  -0.52%  -1.54%  -1.28% 
AUD/GBP  0.53  -0.01  -1.81%  -0.38%  -3.62%  -6.88%  -5.51% 
AUD/NZD  1.035  +0.002  +0.24%  -0.40%  -0.81%  -1.80%  -3.57% 
EUR/USD  1.13  +0.00  +0.35%  +0.18%  +0.59%  -0.30%  -8.58% 
GBP/USD  1.334  +0.026  +2.01%  +1.28%  +3.83%  +5.50%  -4.47% 
USD/JPY  111.17  -0.19  -0.17%  -0.54%  +0.14%  -2.16%  +4.31% 
USD/CNY  6.707  -0.001  -0.02%  -0.06%  -0.79%  -2.54%  +6.10% 
Other Indicators Close +/- % % % % %
VIX  13.41  -0.36  -2.61%  -14.80%  -14.31%  -35.06%  -17.98% 
Australian DLCs Close +/- % % % % %
BHP Billiton PLC ($A)  $33.01  +$0.78  +2.42%  -0.93%  +2.82%  +15.58%  +29.35% 
Rio Tinto PLC ($A)  $78.63  +$1.66  +2.15%  -6.24%  -0.34%  +20.28%  +19.13% 
CYBG PLC ($A)  $3.76  +$0.04  +1.14%  +0.38%  +7.36%  +12.69%  -32.18% 
Janus Henderson Group PLC ($A)  $35.00  +$0.32  +0.93%  +2.30%  +5.60%  +26.04%  -23.13% 
Resmed Inc ($A)  $14.47  -$0.04  -0.31%  +1.12%  +3.68%  -9.34%  +14.99% 
News Corporation ($A)  $18.27  -$0.17  -0.93%  -3.84%  +2.31%  +3.07%  -13.76% 

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