Welcome to Wednesday. Here are the five things I'm looking at today on the Australian sharemarket.
- The S&P/ ASX 200 Index (Index: ^AXJO) (ASX: XJO) has opened flat, following gains on Wall Street overnight. The Dow Jones Industrial Average gained 0.6%, while the S&P 500 added 0.8% to 1,999. The NASDAQ index also posted a 0.8% gain.As Joe Saluzzi, co-head of equity trading at Themis Trading told Bloomberg,
"The market sees the letters 'Q' and 'E' combined with China and it's Happy New Year to the money printers and that's what the jump is, they want that game to continue."
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- Solomon Lew's Premier Investments Limited (ASX: PMV) has reported double-digit growth in earnings from its retail stores. Shares were up 2.9% in early trade. Like-for-like sales were strong, as all seven brands performed.Why would Premier consider an investment in underperforming Myer Holdings Limited (ASX: MYR), when it's generating such strong organic growth?
- Will Woodside Petroleum Limited (ASX: WPL) make a large acquisition in Australia's fast-growing LNG industry to boost its growth profile? The Australian Financial Review (AFR) suggests Woodside may well pick up a stake in Chevron's Wheatstone Project. International players are reported to be leaving the sector, with Apache Energy expected to sell its $2.4 billion stake in Chevron's project.
- Tweet of the Day
Shock as real estate franchise enters financial planning market https://t.co/QDsQFcNwcg via @smh
Adele Ferguson (@adele_ferguson) September 16, 2014
Financial advice from an un-conflicted real estate agent? Let me guess – buy property?. - Stock of the Day – brought to you by Tim McArthur – Bellamy's Australia Ltd (ASX: BAL). Newly listed, Bellamy's looks set to benefit from strong demand for baby and toddler food products, especially from China. You can read more here.
