ASX


We’ve passed Wall St, next stop Hang Seng

Australian investors need to stop believing that Wall Street is god of the Australian economy, writes Michael Pascoe. We’ve survived the GFC, even if the US didn’t, and our focus should be on Asia.

Corporates clear the ASX trash on Grand Final Eve

From Computershare to Macquarie, the time-honoured practice of dropping bad news when no-one is looking was on display again last Friday. So here’s what you may have missed…

Profit season’s last day dross and $1 billion loss

The last day of the 2008-09 profit season — and what a shocker it was.

Can the ASIC regulatory tiger grow teeth?

Will the new market trading, monitoring and control system be as transparent and open about its regulatory actions as the ASX has become this year?

ASIC steps up to the plate on market regulation

All market trading will now be monitored by ASIC while ASX will continue its prime role of supervising all listed companies.

The short but lucrative life of a Qantas frequent flyer point

The official Qantas guide to the life of a frequent flyer point was a bonus in the airline’s results filing. It is the gold mine Qantas needs during its current crisis.

Trevor Rowe meets his maker

Trevor Rowe’s once stellar reputation appears to be in tatters, last week resigning from the board of the Queensland Investment Corporation and now from the board of the Australian Securities Exchange.

Market hits nine-month high

Australian stocks rose 0.5% yesterday to close at a nine-month high, with ANZ and NAB leading the charge, both up 2.5%.

Forget the GFC, it’s time for a takeover frenzy

Could the Australian stockmarket be about to witness an orgy of acquisitions? Crikey tested the waters with some leading economic commentators.

Crikey Subscriber-only: Computershare and the alleged share transfer fraud

How could it be possible for a suburban housewife walk into the offices of Australia’s share registry giant Computershare and convince them to transfer blue-chip shares into her name? asks Jacqui Walker.

Lend Lease probed by US law enforcement

Construction giant Lend Lease has announced that its Stateside subsidiary, Bovis Lend Lease, is under investigation over alleged over-billing.

Corporate “green shoots” withering on the vine

Those small signs of a rebound people are talking about in other economies don’t seem to be flourishing all that strongly here.

Austcorp in the hands of voluntary administrators

The ASX this morning suspended trading in the Austcorp Property Group as the debt-strapped property company was placed in the hands of voluntary administrators.

APRA turns the screws on finance sector executive pay

APRA has given a sneak preview of its coming review of executive pay.

David Leckie’s lucky Seven sell-off

The David Leckie share sell-off is a neat example of why equity incentive plans can fail to align with shareholder and executive interests, writes Adam Schwab.

Morning Market Report: BEN gets crushed

Bendigo and Adelaide Bank (BEN) getting smashed after releasing its Trading Update.

ASX AGM descends into farce

A riproaring criticism of the press was only one of the highlights of yesterday’s ASX AGM, writes Stephen Mayne.

What’s next ASIC? Ban trading altogether?

We now have the second most restricted market in the world, writes Michael Pascoe.

Secret Fairfax share scheme may be key to the slash and burn

A secretive $4 million scheme rewards the most senior Fairfax executives with share packages based on the company’s share price and earnings, writes Andrew Dodd.

Starpharma directors make make timely paper profit

Directors in pharmaceutical company Starpharma Holdings have profited - on paper - from recent trades in their own stock., writes Glenn Dyer.

ASX complicity on the “Macquarie Model” under the pump

The ASX Guidance Note talks tough on future floats but this is largely irrelevant because the “Macquarie Model” is a dead parrot., writes Stephen Mayne.

Ospraie jetisons Iluka shares, depressing prices

Iluka shares are being dropped by all and sundry, writes Glenn Dyer.

Futuris CEO chopped, tree sellers flogged

Another one bites the dust. Yesterday Futuris CEO Les Wozniczka delivered a profit downgrade and today Futuris is looking for a new CEO, writes Michael PAscoe.

Without their reputation, Babcock & Brown are stuffed

Banks can talk all they like about assets and liquidity, but their share prices are almost 100% reputation, writes Glenn Dyer.

D’Aloisio talks tough as corporate crooks stay out of jail

ASIC chairman Tony D’Aloisio likes to talk tough but ASIC is all mouth no trousers when it comes to crime busting, writes Stephen Mayne.