The market is down 19. The SFE Futures were down 17 this morning.

The Dow Jones closed down 19 overnight. It came within 2 points of 11,000 but closed at 10948. Unemployment claims were a bit better than expected. Most stores reported better than expected same store sales numbers. The 3rd Q results season started with Alcoa up 2.5% in after hours trade on its late results. Other stocks fell on results. The gold price fell $12.70 to $1347.70 and the oil price fell $1.46. The Aussie dollar closed at 98.24c having hit a record high of 99.18c at one point.

Today’s main points…

  • Harvey Norman (HVN) has signed a five-year extension with its finance provider, GE Money, which will allow it to offer consumers long-dated, interest-free deals in the lead-up to the Christmas trading period. HVN down 2.85% at 375c down from 395c three weeks ago.
  • Only two days to go before QR National releases its prospectus. Retail investors will receive a discount of up to 10% as a combination of a lower upfront price and a free loyalty shares entitlement. It will be Australia’s biggest IPO in more than 10 years.
  • Today is the last to elect to participate in the Woolworths (WOW) $700m off-market share buyback. WOW down 0.17%.
  • BHP Billiton (BHP) expects to pay about $90.07bn in royalties and taxes to government over the multi-decade operating life of its Jansen potash project in Saskatchewan, Canada. BHP down 0.32%.
  • All the talk in recent weeks has been about a potential bid from SAB Miller for Fosters Group’s (FGL)  beer division, but it SAB appear more interested in buying Groupe Castle, a privately held company with operations in the fast growing African market. FGL down 0.81%.
  • Worth a mention, Westpac Bank’s CEO Gail Kelly has been named the world’s eighth most powerful woman.
  • The $1.24 billion takeover offer for AWB Ltd (AWB) by Canada’s Agrium is “fair and reasonable and in the best interests of shareholders”, according to an independent expert.
  • Northern Energy Corporation (NEC) has rejected a takeover approach from rival coal miner New Hope Corporation (NHC) as inadequate but says it is open to continuing discussions. NEC in trading halt. Market cap $143m.
  • Stocks hitting fresh yearly highs today include: AWB, FMG, WSA, CMJ, PGA.

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 — 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 — 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

Peter Fray

Fetch your first 12 weeks for $12

Here at Crikey, we saw a mighty surge in subscribers throughout 2020. Your support has been nothing short of amazing — we couldn’t have got through this year like no other without you, our readers.

If you haven’t joined us yet, fetch your first 12 weeks for $12 and start 2021 with the journalism you need to navigate whatever lies ahead.

Peter Fray
Editor-in-chief of Crikey