The ASX 200 is down 17. The SFE Futures were up 4 this morning.

Wall St. closed up 9. Dow was up 25 at best and down 109 at worst overnight. The market was down on the open on a Moody’s downgrade of Greece’s debt rating and news of a bigger Greek deficit than expected. Oil price put on 29c to $83.67, Gold fell $8 to $114 and the Aussie dollar fell a touch to 92.59c compared to 92.67c yesterday morning.

  • CSL down 8.1% on concerns about the plasma-based medical products market after Baxter International reported weakness in the sector overnight. Baxter is CSL’s main rival. Baxter fell 13.27% overnight after they cut their FY outlook and admitted they had overestimated the strength in the plasma market. Their other rival Talecris Biotherapeutics fell 9.92% but was up 13% in after-market trade after one analyst suggested they’d gained 6% in market share in the last 6 months.
  • Woodside Petroleum (WPL) — Production Numbers – 1st Q production fell 7% on last year and 5% from the Dec Q at 19.2m barrels of oil equivalent. 1st Q sales revenue came in at $US1.03bn, up 43% on last year. They say Pluto LNG project was almost 87% complete at end of March and that it is on track for first gas by late 2010 early 2011. WPL down 51c to 4633c.
  • The Australian says US hedge fund Harbinger Capital Partners has sold another 30m shares in Fortescue Metals (FMG). This is despite Harbinger boss telling FMG CEO Andrew Forrest earlier this year that they wouldn’t be offloading any more shares in the company. FMG down 8c to 500c.
  • A day after Newcrest cut FY production guidance, Lihir Gold (LGL) announced this morning they are lifting their FY production guidance to 1m-1.1m ounces from 960,000-1.06m ounces. They also announced production numbers for the 1st Q – output was down 26% to 229,757 ounces. LGL up 3c to 395c.
  • Austar United (AUN) — 1stQ Profit Result — Announced 1st Q profit doubled to $16.3m from $8.1m. Revenue increased by 7% to $174.3m. AUN down 1c to 116.5c.
  • There is a 40% chance of the RBA raising rates to 4.50% at its next meeting on 4th May.
  • Nufarm (NUF) has successfully completed their institutional entitlement offer raising $144m at 575c a share. NUF down 21c to 720c.
  • Oil Search (OSH) expects annual output of between 7.2m and 7.4m barrels of oil equivalent, in line with previous guidance.  OSH down 7c to 576c.
  • Companies hitting 52 week high: ARB Corp (ARP) and Goodman Group (GMG).

MARCUS PADLEY is the Author of the MARCUS TODAY Daily Stockmarket Newsletter.

For a free 5 day obligation free trial of the MARCUS TODAY newsletter (and no we won’t ask for a credit card number) please Click Here 00 you will receive our renowned and popular Daily email about the stockmarket with all the stuff you need to know ahead of the trading day including overnight developments, news, comments, rumours, broker stuff and Ideas from Marcus and his Team. You will also be given a password to the MARCUS TODAY website including access to our Recommended Portfolio which is actively managed on behalf of subscribers.…no “set & forget”. Everything you need to effortlessly managed your own long term investment portfolio.

It includes an Income Portfolio. And for the traders we monitor short and medium term trades on top of the portfolio. Members also get access to our Database 00 all the numbers with comments on the ASX 200 stocks and more. Members also get access to our Educational section which includes an archive of Marcus’s Educational and Entertaining articles.  We are sure you will enjoy and profit from what we offer. Thousands of subscribers enjoy and profit from our services every day. We have one of the highest re-subscription rates in the financial newsletter industry.

For your FREE TRIAL —  Click here

To Subscribe to MARCUS TODAY —  Click Here

We also offer a FREE END OF DAY EMAIL —  Click here —  A free summary of the day in the market.

To buy MARCUS’S BOOK “Stock Market Secrets”  —  Click here

Peter Fray

Get your first 12 weeks of Crikey for $12.

Without subscribers, Crikey can’t do what it does. Fortunately, our support base is growing.

Every day, Crikey aims to bring new and challenging insights into politics, business, national affairs, media and society. We lift up the rocks that other news media largely ignore. Without your support, more of those rocks – and the secrets beneath them — will remain lodged in the dirt.

Join today and get your first 12 weeks of Crikey for just $12.

 

Peter Fray
Editor-in-chief of Crikey

JOIN NOW