The market is up 29. The SFE Futures were up 6 this morning.

The Dow Jones closed up 22 on Friday. The Dow was up 25 at best and down 62 at worst. The S&P 500 closed up 0.25% at 1200. The Portuguese Finance Minister said it might need to leave the EU as it continues to struggle financially although settling the market somewhat was Ireland who reached an agreement with the EU and the IMG to receive a loan of up to €100bn to support Irish banks. Metals were mostly down, oil price fell 34c to $81.51 and Gold dropped 70c to $1352.30.

Today’s main points.

  • QR National — code QRN — Listed on the ASX today at noon. First price 254c and now 260c. 10% of the listed shares have traded in the first half an hour. It was priced at 255c a share, valuing the company at $6.7bn. Retail investors paid 245c.
  • US markets closed on Thursday for Thanksgiving and have a half day Friday.
  • Fortescue Metals (FMG) approved plans Friday afternoon to spend $US8.4bn to triple its iron ore output. It will need to raise another $US4bn of debt to pay for it. FMG up 15c to 685c.
  • Linc Energy (LNC) announced plans to develop its Teresa coal property in QLD state despite having the asset up for sale. LNC up 7c to 253c.
  • Westfield Group (WDC) will sell 50% of the retail component of Westfield Stratford City to a new JV including Holland’s APG and Canada’s CPPIB for $1.43bn. WDC up 25c to 1207c.
  • Beach Energy (BPT) has agreed to buy oil and gas explorer and producer Impress Energy (ITC) for $73.1m in cash. BPT unchanged at 66c.
  • According to the Financial Times, Macquarie Group (MQG) has created a JV with energy company Freeport to export US natural gas. MQG up 34c to 3680c.
  • The ACCC said it will let AGL Energy (AGK) and Origin Energy (ORG) know on Thursday whether they can bid for the power assets the NSW government is selling. AGK up 10c to 1585c and ORG up 18c to 1576c.
  • Companies going ex-dividend today include: Count Financial (2c), Redflex Holdings (5c), Supply Network (4c) and SP AusNet (4c).
  • Stocks hitting 52 week highs today include: Coalspur Mines (CPL), Caltex Australia (CTX), Sundance Resources (SDL) and Straits Resources (SRL).
  • Stocks hitting 52 week lows: Country Road (CTY), Energy Resources (ERA) and Oceania Corp (OCP).

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

A lot can happen in 3 months.

3 months is a long time in 2020. Join us to make sense of it all.

Get you first 12 weeks of Crikey for just $12. Cancel anytime.

Peter Fray
Editor-in-chief of Crikey

12 weeks for $12