The Daily ASX Market Wrap – 30/08/2016

blog he


Australian shares have enjoyed a modest bounce as investors moved back into the big banks and miners after fears around the impact of a potential US interest rate hike eased.

Gains in the miners as well as in three of the big four banks provided the bulk of the heavy lifting on the S&P/ASX 200, which ended the session up 9 points, or 0.2 per cent, at 5478.3 after wilting a bit in late trade.
The Bank of Japan could announce a “massive stimulus program” as the nation seeks to reach a 2 per cent inflation target.

Shareholders in Resolute Mining will have the option of collecting dividend payments in gold bullion, under a new policy believed to be the first of its kind in the world.

The gold miner announced it would resume dividend payments, declaring a 1.7¢ per share final dividend for the 2016 financial year under a new gold sales-linked dividend policy.

Resolute, which has not paid consistent dividends since the late 1990s, joined a group of local gold miners reinstating or raising dividends amid the best conditions the sector has enjoyed in recent years. But with a twist.

Shareholders who hold 5000 or more shares in the company can elect to receive dividends in gold bullion paid into a personal account held with The Perth Mint.

Estia Health is turning into a real dog, slumping for a second day after analysts dropped their price targets on the company which operates and develops aged care facilities around Australia.
Coca-Cola Amatil shares have jumped to their highest in nearly 15 months after Deutsche Bank upgraded the stock to ‘buy’ from ‘hold and raised the target price to $10.

US wheat futures have dropped to 10-year lows, as ample global stocks and a regulatory clamp-down from the world’s largest buyer of the grain dragged on prices.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376).The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd currently hold positions in:  BHP, BKY, KCN, PDN, and RIO. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s