Markets Live: Bank tax talk sparks $14b rout
A softish trading update by CBA combined with talk of a new levy on banks sparked heavy selling in the major banks, dragging the ASX to a loss.
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Movers
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AGL AGL ENERGY LIMITED.
- Percentage up/down
- 0.04% rise
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ALL ARISTOCRAT LEISURE LIMITED
- Percentage up/down
- -0.20% fall
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AMC AMCOR LIMITED
- Percentage up/down
- 0.32% rise
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AMP AMP LIMITED
- Percentage up/down
- -0.37% fall
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ANZ AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
- Percentage up/down
- -2.64% fall
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APA APA GROUP
- Percentage up/down
- 0.85% rise
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ASX ASX LIMITED
- Percentage up/down
- 0.04% rise
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AZJ AURIZON HOLDINGS LIMITED
- Percentage up/down
- 0.94% rise
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BHP BHP BILLITON LIMITED
- Percentage up/down
- 0.83% rise
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BXB BRAMBLES LIMITED
- Percentage up/down
- 1.86% rise
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CBA COMMONWEALTH BANK OF AUSTRALIA.
- Percentage up/down
- -3.84% fall
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CPU COMPUTERSHARE LIMITED.
- Percentage up/down
- 0.26% rise
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CSL CSL LIMITED
- Percentage up/down
- -0.19% fall
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CTX CALTEX AUSTRALIA LIMITED
- Percentage up/down
- -0.09% fall
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DXS DEXUS
- Percentage up/down
- -0.39% fall
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FMG FORTESCUE METALS GROUP LTD
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- -0.20% fall
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GMG GOODMAN GROUP
- Percentage up/down
- 0.12% rise
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GPT GPT GROUP
- Percentage up/down
- 0.38% rise
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IAG INSURANCE AUSTRALIA GROUP LIMITED
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- 0.00% steady
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IPL INCITEC PIVOT LIMITED
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- 2.98% rise
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JHX JAMES HARDIE INDUSTRIES PLC
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- -0.50% fall
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LLC LENDLEASE GROUP
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- 0.24% rise
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MGR MIRVAC GROUP
- Percentage up/down
- 0.87% rise
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MPL MEDIBANK PRIVATE LIMITED
- Percentage up/down
- 0.68% rise
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MQG MACQUARIE GROUP LIMITED
- Percentage up/down
- -1.98% fall
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NAB NATIONAL AUSTRALIA BANK LIMITED
- Percentage up/down
- -2.05% fall
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NCM NEWCREST MINING LIMITED
- Percentage up/down
- 0.77% rise
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ORG ORIGIN ENERGY LIMITED
- Percentage up/down
- 2.64% rise
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ORI ORICA LIMITED
- Percentage up/down
- 0.54% rise
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OSH OIL SEARCH LIMITED
- Percentage up/down
- 0.82% rise
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QAN QANTAS AIRWAYS LIMITED
- Percentage up/down
- 1.50% rise
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QBE QBE INSURANCE GROUP LIMITED
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- 0.46% rise
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RHC RAMSAY HEALTH CARE LIMITED
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- 0.66% rise
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RIO RIO TINTO LIMITED
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- 0.53% rise
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S32 SOUTH32 LIMITED
- Percentage up/down
- 1.49% rise
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SCG SCENTRE GROUP
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- -0.47% fall
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SGP STOCKLAND
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- -0.83% fall
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SHL SONIC HEALTHCARE LIMITED
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- -0.26% fall
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STO SANTOS LIMITED
- Percentage up/down
- 2.23% rise
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SUN SUNCORP GROUP LIMITED
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- -0.14% fall
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SYD SYDNEY AIRPORT
- Percentage up/down
- 0.97% rise
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TCL TRANSURBAN GROUP
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- 0.08% rise
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TLS TELSTRA CORPORATION LIMITED.
- Percentage up/down
- 2.30% rise
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TWE TREASURY WINE ESTATES LIMITED
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- 2.29% rise
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VCX VICINITY CENTRES
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- -0.35% fall
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WBC WESTPAC BANKING CORPORATION
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- -3.52% fall
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WES WESFARMERS LIMITED
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- 0.51% rise
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WFD WESTFIELD CORPORATION
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- -0.78% fall
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WOW WOOLWORTHS LIMITED
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- 0.19% rise
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WPL WOODSIDE PETROLEUM LIMITED
- Percentage up/down
- 0.75% rise
8@eight: North Korea knocks markets as Budget impact felt
The local sharemarket is set to drift lower at the open, following global markets down as investor caution returned.
Bank of England seen preaching caution
The Bank of England is likely to lift its inflation outlook, yet downplay expectations for a rate increase anytime soon.
Traders await key US crop report
For the first time in 29 years, global harvests of corn, soybeans and wheat are poised to fall simultaneously.
S&P; 500 touches record high, then eases
The S&P; 500 fell after edging up to an intra-day record high for the second straight session. Apple tops $US800 billion mark.
US dollar gains v $A, yen and euro
The Australian dollar fell to its lowest against the greenback since the first week of January.
Oil falls on OPEC v US shale battle
Oil prices fell, rattled by concern over slowing demand, a rising US dollar and increasing US crude output.
Commodity investors needn't fear Fed
Raw materials perform best when the US central bank is hiking rates, according to Goldman Sachs.
Market Indices
Updated: May 9, 2017 - 4:40PM
Market Activity
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Advances
- Price
- 262.00
- Percentage up/down
- 54.70% rise
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Declines
- Price
- 150.00
- Percentage up/down
- 31.32% fall
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Unchanged
- Price
- 67.00
- Percentage up/down
- 13.99% steady
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Nikkei flirts with 20,000
Nader Naeimi can't ignore it any longer after Japanese stocks added more than $US210 billion in value in less than a month.
Pimco sees rising 10-yr US yield
The 10-year US Treasury yield may climb to 2.75 per cent to 3 per cent over the "medium term'', according to Pimco.
ASX led lower by $14b banks sell-off
Talk of a new tax on the big banks and an underwhelming CBA trading update triggered a vicious sell-off in the big four lenders.
Why Nikko AM is bullish on China
Robert Mann, a senior portfolio manager for Nikko AM's Asian equity team, says investors would be unwise to drop out of the Chinese market.
Currencies
Australian dollar taken to the cleaners
The Australian dollar plunged overnight, caught by a hawkish Fed and sudden sharp selling in copper and iron ore.
| Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
|---|---|---|---|---|
| AUD/USD | 0.7347 | 0.7346 | 0.0002rise | 0.03% rise |
| AUD/EUR | 0.6756 | 0.6751 | -0.0001fall | -0.01% fall |
| Updated: May 10, 2017 - 7:59AM | ||||
Market Details
Volatility S&P;/ASX 200 VIX
- Price
- 12.31
- Change in
- 0.5150rise
- Percentage up/down
- (4.37%) rise
| Sector | Turnover ($AU) | Volume | Trades |
|---|---|---|---|
| Market total | 6,186,576,865 | 1,848,091,156 | 1,274,957 |
| Industrial | 5,199,368,527 | 825,515,184 | 1,082,102 |
| Mining | 951,805,844 | 1,022,121,192 | 188,074 |
ASX - 52 Weeks Highs
| Code | Name | New Highs | Last Week | Last Month |
|---|---|---|---|---|
| ZNO | ZOONO GROUP LTD | 0.240rise | 0.042 | 0.042 |
| CLL | COLLERINA COBALT | 0.025rise | 0.020 | 0.021 |
| PRT | PRIME MEDIA GRP LTD | 0.355rise | 0.310 | 0.315 |
| PHI | PHILEO AUSTRALIA | 10.200rise | 9.160 | 8.980 |
| KIN | KIN MIN NL | 0.440rise | 0.400 | 0.405 |
| PYC | PHYLOGICA LIMITED | 0.050rise | 0.046 | 0.046 |
| CDD | CARDNO LIMITED | 1.495rise | 1.380 | 1.440 |
| AFR | AFRICAN ENERGY RES | 0.069rise | 0.065 | 0.053 |
| ACK | AUSTOCK GROUP LTD | 0.720rise | 0.680 | 0.610 |
| MSP | MAXSEC GROUP LTD | 0.036rise | 0.034 | 0.033 |
| Updated: May 9, 2017 - 6:50PM | ||||
ASX - 52 Weeks Lows
| Code | Name | New Lows | Last Week | Last Month |
|---|---|---|---|---|
| FCR | FERRUM CRESCENT LTD | 0.001fall | 0.002 | 0.002 |
| BUY | BOUNTY OIL & GAS NL | 0.005fall | 0.007 | 0.007 |
| CTL | CENTENNIAL MNG LTD | 0.012fall | 0.016 | 0.013 |
| HMO | HEARMEOUT LTD | 0.100fall | 0.125 | 0.130 |
| NSE | NEW STANDARD ENERGY | 0.004fall | 0.005 | 0.004 |
| RNL | RISION LIMITED | 0.004fall | 0.005 | 0.005 |
| SGU | SUCCESS GLOBAL MEDIA | 0.036fall | 0.045 | 0.045 |
| VMC | VENUS METALS COR LTD | 0.092fall | 0.115 | 0.110 |
| BMZ | BLACK MOUNTA RES LTD | 0.029fall | 0.036 | 0.032 |
| SVT | SERVTECH GLOBAL LTD | 0.110fall | 0.135 | 0.140 |
| Updated: May 9, 2017 - 6:50PM | ||||
Floats & IPOs
| Company | Security Code | Float date | Issue $ |
|---|---|---|---|
| Alderan Resources Limited | AL8 | 29/05/2017 | 0.20 |
| Biomics Biopharma Limited | BBM, | 02/06/2017 | 0.20 |
| Benjamin Hornigold Limited | BHD | 10/05/2017 | 1.00 |
| Eagle Health Holdings Limited | EHH | 29/06/2017 | 0.40 |
| Elsight Limited | ELS | 19/05/2017 | 0.20 |
| Manuka Resources Ltd | MKR | 17/05/2017 | 0.20 |
| Takor Group Ltd | TKO | 15/05/2017 | 0.20 |