daytrading nov 25 morning

Good morning all. Daytrading Morning Thread for Nov 25.

Dow: 11,258 -236 -2.05%
FTSE: 5,128 -12 -0.24%
Gold: 1,699 0 0%
Oil: 97.03 +0.86 +0.89%
AUD/USD: 0.973

Australian market preview:
The Australian market looks set to open slightly higher, despite the US market falling two per cent and while a strong survey of German business confidence did little to stop the major European bourses ending mostly lower.

At 0630 AEDT on Friday, the December share price index futures contract was up four points at 4,052.

No major economic news is expected on Friday.

In equities news, Telstra chief customer officer Gordon Ballantyne is due to address an American Chamber of Commerce luncheon, NBN Co opens an opearations centre in Melbourne's Docklands while Myer Holdings, Primary Health Care, Sundance Resources and Retail Food Group hold annual general meetings.

Stocks to watch on Friday:
BSL - BLUESCOPE STEEL LTD - down 12.7 cents, or 24.5 per cent, to 39 cents

Struggling steelmaker BlueScope Steel has raised $338 million so far in a $600 million capital raising as it tries to repay some of its debt.

CQO - CHARTER HALL OFFICE REIT - steady at $3.35

Charter Hall Office real estate investment trust (REIT) has completed the sale of a third United States asset as it continues its move towards becoming an Australian-focused property owner.

DJS - DAVID JONES LTD - down 16 cents, or 5.4 per cent, at $2.81

David Jones has confirmed its forecast of a 15 to 20 per cent drop in first-half profit after its first-quarter sales fell by 11.2 per cent.

DOW - DOWNER EDI - down 10 cents, or 3.24 per cent, at $2.99

Engineering firm Downer EDI has appointed Philip Garling as a non-executive director, effective November 24, 2011.

GFF - GOODMAN FIELDER LTD - down two cents, or 3.96 per cent, at 48.5 cents

Goodman Fielder says steps taken so far in 2011/12 have arrested the earnings decline experienced in the prior year.

GNC - GRAINCORP LTD - up 23 cents, or 3.13 per cent, at $7.58

Graincorp says its annual profit has more than doubled adding that the quality of grain harvested so far this season is higher than last year.

GNS - GUNNS LTD - up one cent, or 5.88 per cent, at 18 cents

Gunns is more confident it will be able to build a $2.3 billion pulp mill at Bell Bay in Tasmania, although it still does not have a partner for the controversial project.

MMX - MURCHISON METALS LTD - up 14.5 cents, or 52.73 per cent, at 42 cents

Murchison Metals has backed a $325 million takeover bid of its key assets by joint venture partner Mitsubishi, which will gain full ownership of the planned $6 billion Oakajee port and rail project.

MYR - MYER HOLDINGS LTD - last traded at $2.34

Myer Holdings is due to hold its AGM on Friday.

PRY - PRIMARY HEALTH CARE LTD - last traded at $3.28

Primary Health Care is due to hold its AGM on Friday

QAN - QANTAS AIRWAYS LTD - down two cents, or 1.32 per cent, at $1.495

The Transport Workers Union says it is backing the pilots' union's bid for a recent decision by Fair Work Australia (FWA) to be overturned in its stoush with Qantas.

RFG - RETAIL FOOD GROUP LTD - last traded at $2.51

Retail Food Group is due to hold its AGM on Friday

SDL - SUNDANCE RESOURCES LTD - last traded at 42.5 cents

Sundance Resources is due to hold its AGM on Friday

WBC - WESTPAC BANKING CORPORATION - down eight cents, or 0.4 per cent, at $19.75

Westpac Banking Corporation has created two new divisions for its businesses and made several senior executive changes as it adopts a new management structure.

WOR WORLEYPARSONS LTD - down 90 cents, or 3.46 per cent, at $25.09

Engineering giant WorleyParsons has won a $US200 million ($A205.54 million) project management consultancy contract for a refinery in Ecuador.

WOW - WOOLWORTHS LTD - up 21 cents, or 0.86 per cent, at $24.56

Woolworths expects retail trading conditions to remain subdued until next financial year as it gears up for expansion under a new leadership team.


Endless would say "Check open orders."


Good luck with your trading!

Suzie.