"It's very much buoyed by the banks," said James McGlew, head of corporate stockbroking at Argonaut Stockbroking.
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"The market's marking time," said Michael Gunn, an equities advisor at Burrell Stockbroking.
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Spotswood at Shaw Stockbroking said he thought Macquarie remained well-positioned in the current environment.
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"I would not want to buy into the FTSE at these levels," said Horizon Stockbroking director Kyri Kangellaris.
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Morgans Stockbroking downgraded TPG to "hold" from "add", saying its rating was predicated on the merger going forward.
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"Westpac's results has really upset the market in the banking space," Brad Smoling, managing director at Smoling Stockbroking said.
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IG, which provides online stockbroking and trading services to retail investors, said it now offers clients "Limited Risk" accounts.
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"It is strategically sensible for Aurizon to be considering the acquisition of WICET," said Morgans Stockbroking analyst Nathan Lead.
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Yet Norwegian also made mistakes that could be avoided by other airlines, argues Ross Harvey of Davy, a stockbroking firm.
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"It will be short lived in my opinion...it's a suckers rally," said Brad Smoling, managing director at Smoling Stockbroking.
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" JAMES MCGLEW, EXECUTIVE DIRECTOR OF CORPORATE STOCKBROKING, ARGONAUT, PERTH "We are getting exaggerated moves but that's of course volatility playing.
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"I wouldn't be inclined to buy into the FTSE, this side of the referendum," said Horizon Stockbroking director Kyri Kangellaris.
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"That's the trouble with highly priced stocks: it's a bit overhyped," said Bill Keenan, general manager of equities at Lonsec Stockbroking.
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"Markets are very much cautious ahead of the monthly policy meeting," said James McGlew, executive director of corporate stockbroking at Argonaut.
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" manufacturing data, we had numbers that came out today that were pretty disappointing," said Bruno van Eck, trader at Thebe Stockbroking.
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The sell-off on Monday was driven by "fear and loathing", said James McGlew, executive director of corporate stockbroking at Argonaut.
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"This is completely led by the futures on the U.S. market," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"There's a very, very cool wind blowing through the Australian markets today," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"Graham's always mentioned elections as a point of hitting on consumer sentiment and affecting his sales," said Shaw Stockbroking analyst Darrin Vincent.
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James McGlew, executive director of corporate stockbroking at Argonaut, said that Lendlease's outlook was being viewed positively in a troubled property development sector.
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"The market is marking time to see the results from the Reserve Bank," said James McGlew, executive director of corporate stockbroking at Argonaut.
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Michael McCarthy, chief strategist at CMC Markets and Stockbroking said rising treasury yields, were prompting investors to reassess values, which was weighing on market.
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Many macro developments markets were expecting including Brexit and a trade truce have now been addressed, said Brad Smoling, managing director at Smoling Stockbroking.
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"I believe there will be continued regulatory issues that are not going to be resolved anytime quickly," said Brad Smoling, managing director at Smoling Stockbroking.
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IG, which provides online stockbroking and trading services to retail investors, said revenue rose to 152.9 million pounds ($216.4 million) in the quarter ended Feb.
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"It's going to be some time before there is certainty as investors price in risk," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"The news of extra tariffs dominated the global markets... and clearly our markets priced it in," said James McGlew, Executive director of corporate stockbroking at Argonaut.
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"That the March 1 imposition of tariffs will be delayed is a positive to some extent," said Michael McCarthy, Chief strategist at CMC Markets and Stockbroking.
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"There's been a little bit too much optimism backing already so we saw a bunch of profit-taking," said Thebe Stockbroking private client trader, Robert Cameron.
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"As a shareholder, I would have preferred them to sell it," said Danial Moradi, equity strategist at Lonsec Stockbroking, which owns Wesfarmers shares, referring to Officeworks.
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The banks are also in talks about CIMB's stockbroking business in Malaysia, it said, though no details were disclosed on the structure of a possible deal.
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"The sum of the parts of the business is probably worth more than the share price was indicating," said Danial Moradi, equity strategist at Lonsec Stockbroking.
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"The key factor for the demand outlook for oil is the trade negotiation," said Michael McCarthy, chief market strategist at CMC Markets and Stockbroking in Sydney.
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The company, which provides online stockbroking and trading services to retail investors, also said it had developed new products and services and expanded to new geographies.
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"The key factor for the demand outlook for oil is the trade negotiation," said Michael McCarthy, chief market strategist at CMC Markets and Stockbroking in Sydney.
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The company, which provides online stockbroking and trading services to retail investors, said revenue fell to 117.4 million pounds ($146.8 million) for the third quarter ended Feb.
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The company, which provides online stockbroking and trading services to retail investors, said revenue fell to 117.4 million pounds ($146.84 million) for the three months ended Feb.
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IG, which provides online stockbroking and trading services to retail investors, said net trading revenue rose to 152.9 million pounds ($216.4 million) in the quarter ended Feb.
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"There's a bit of a bounce with some bargain hunters thinking that hopefully the worst is over," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"They're (Afterpay) interpreting the report regarding the California decisions on the license as a positive in terms of business," Brad Smoling, managing director at Smoling Stockbroking said.
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"Once again the company has demonstrated an ability to read the tea leaves with its asset sales," said James McGlew, executive director of corporate stockbroking at Argonaut Ltd.
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PEDER HANSSEN Oslo Reading Buttonwood's article on the wisdom of George Costanza (June 9th) reminded me of the time I worked at a stockbroking firm in the City.
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"This is one sector of our market that we are forecasting will continue to grow substantially," said James McGlew, executive director for corporate stockbroking at Perth-based Argonaut.
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"Today, you see money likely flowing towards the resource stocks, I think it is a rotation," said James McGlew, executive director for corporate stockbroking at Perth-based Argonaut.
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"Today you see money likely flowing towards the resource stocks, I think it is a rotation," said James McGlew, executive director for corporate stockbroking at Perth-based Argonaut.
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Headline inflation exceeding expectations would speak "directly to the future interest rate environment, and that directly affects financials," said Michael McCarthy, chief strategist at CMC Markets and Stockbroking.
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The company, which provides online stockbroking and trading services to retail investors, said pretax profit rose to 105.2 million pounds ($131.2 million) for the six months ended Nov.
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James McGlew, executive director of corporate stockbroking at Argonaut, said global uncertainties coupled with weak growth data at home and looming elections were prompting investors to minimize their risk.
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"The rally has well and truly run out of steam on a technical basis and on a fundamental basis," said James McGlew, Executive director of corporate stockbroking at Argonaut.
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"We hold the view this makes it more difficult, but not impossible, for the proposed scheme ... to pass at a shareholder vote," said Foster Stockbroking said in a report.
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The company, which provides online stockbroking and trading services to retail investors, said revenue rose 21.4 percent to 135.2 million pounds ($182.47 million) for the quarter ended Aug 31.
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Azman Manaf, the chairman of the Association of Stockbroking Companies Malaysia (ASCM), told Reuters that, in his personal opinion, and not that of the association, trading should be suspended.
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"Markets seem to have adjusted to what is known now, although they will stay responsive to further developments," said Michael McCarthy, the chief strategist at CMC Markets and Stockbroking.
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"The key factor for the demand outlook for oil is the trade negotiation currently going on," said Michael McCarthy, chief market strategist at CMC Markets and Stockbroking in Sydney.
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"The market is breathing a half sigh of relief, but is still very cognitive that we haven't finished the year yet," said Brad Smoling, managing director at Smoling Stockbroking.
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"The absence of the Chinese investors is one factor, that would potentially be taking profit in the current environment," said Michael McCarthy, chief strategist at CMC Markets and Stockbroking.
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"Markets are concerned about outlook for its business, and see some risk that their business model might be wiped out," said Michael McCarthy, chief strategist at CMC Markets and Stockbroking.
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Michael McCarthy, chief market strategist at CMC Markets and Stockbroking in Sydney, said markets were in a "holding pattern" as they awaited Chinese trade data and the U.S. earnings season.
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"As a destination for Chinese money, particularly on the discretionary side, we have been putting up a fair barrier," said James McGlew, executive director of corporate stockbroking at Argonaut Ltd.
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"We have been really impressed by the turnaround that Telstra has had over the course of the last 12 months," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"The special dividend is very important for Australian investors because very likely there will be franking attached, making it more valuable," said Michael McCarthy, chief strategist at CMC Markets Stockbroking.
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The agreed bid for one of the City's oldest stockbroking firms by Diamond's investment company, Atlas Merchant Capital, and Qatari investment group QInvest is due to complete around June 20.
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Michael McCarthy, chief market strategist at CMC Markets and Stockbroking in Sydney, said markets were in a "holding pattern" as they waited on Chinese trade data and the U.S. earnings season.
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"Strengthening U.S. dollar and a poor report of inventories out of the U.S. for oil, has weighed on the commodities complex," Michael McCarthy, Chief strategist at CMC Markets and Stockbroking said.
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IG, which provides online stockbroking and trading services, also blamed a decline in volatility in financial markets throughout the quarter, which it said led to persistently lower market activity in February.
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"CSL is seen as an earner of international revenues and when the Aussie dollar rallies, the stock often comes under pressure," said Michael McCarthy, chief strategist at CMC Markets and Stockbroking.
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"What's holding the market a little up - as it looked to open a lot lower - has been Telstra's reaffirmation of guidance," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"They had to do it because their debt has been an issue, so they had to bite the bullet," said Bill Keenan, general manager of equities and researcher at Lonsec Stockbroking.
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"The retail sector has been under sustained pressure for many years so any surprise on retail sales does have potential market implications," said Michael McCarthy, chief strategist at CMC Markets and Stockbroking.
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"The market has priced in all of that negative news but there is always a chance of surprise, so there is nervousness," said James McGlew, executive director of corporate stockbroking at Argonaut.
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James McGlew, executive director for corporate stockbroking at Perth-based Argonaut, said that the further drop in the Aussie dollar had attracted international investors to Australian banks and their solid dividend yields.
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James McGlew, executive director of stockbroking at Argonaut, said the market was supported by the possibility the Australian central bank could cut interest rates next year if wages growth and inflation accelerate.
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"Given the state of sentiment in overall investment circles, it does appear that the key factor here is a weaker U.S. dollar," said Michael McCarthy, chief strategist at CMC Markets and Stockbroking.
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"I think Scott Morrison as the new prime minister is, by far, the more preferred candidate from the market point of view," said James McGlew, executive director of corporate stockbroking at Argonaut.
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Britain's Sunday Times reported that Brewin Dolphin is competing with Allied Irish Banks (AIB) to buy Investec's private client stockbroking business, with a price tag of up to 60 million euros ($68 million).
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"There's no question that the lead that we are getting from the United States, and this is impacting global markets, is substantial uncertainty," said James McGlew, Executive director of corporate stockbroking at Argonaut.
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Michael McCarthy, chief strategist at CMC Markets and Stockbroking, said there may have been some buying from investors who were probably waiting to confirm there were "no further nasty surprises" in its results.
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James McGlew, executive director of corporate stockbroking at Argonaut, said the result was in line with market expectations and the provisions they had flagged were not as severe as the market had expected.
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"It looks like there is a relatively early severe flu season in the U.S. and that is going to drive sales for them," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"The market is waiting for a direction from the budget, and at this point I would say it is pretty positive," said James McGlew, executive director for corporate stockbroking at Perth-based Argonaut.
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"There is just an assumption that the Fed will be very mindful of the fiscal implications of the spending Trump intends to do," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"The downside wasn't enough to justify any further fall in the share price, particularly when the oil price has come back under $50," said Bill Keenan, general manager of equities at Lonsec Stockbroking.
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In the case of Norwegian, however, investors worry that the investment it has made in its long-haul business could swamp its balance-sheet, says Ross Harvey of Davy, a stockbroking firm in Dublin.
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The CMA said it established that DeSimone disclosed price sensitive material relating to the impending takeover of KenolKobil by Rubis to two stockbroking agents Aly Khan Satchu and Kunal Bid, who were also investigated.
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The last 28 months have been "tremendous" for Qantas, with the rise in its share price driving a spike in local industrials, said James McGlew, executive director for corporate stockbroking at Perth-based Argonaut.
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"One of the areas that Australian casinos have really struggled with (is) trying to attract these 'whales', big spending gamblers, particularly out of Asia," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"While earnings may be dropping this year, the yields on these banks are still substantially above what investors may get investing in other banks," said James McGlew, executive director of corporate stockbroking at Argonaut.
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Despite the likelihood of increased competition from the merger, "the market seems to have taken the total opposite view to that for some reason," said James McGlew, executive director of corporate stockbroking at Argonaut.
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The rising level of group assets and higher cash revenue margin helped net revenues rise 8% to 159.5 million pounds in the period, more than offsetting a fall in revenues from stockbroking, it said.
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"The fact that its business is coming out of private equity means you've got to take it with a grain of salt with respect to the numbers," said Lonsec Stockbroking equity strategist Danial Moradi.
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The S&P/ASX 1.93 index softened 21.9 percent to 21,21.4158 by 0104 GMT in "just a benign, sideways day with profit taking" according to James McGlew, executive director of corporate stockbroking at Argonaut.
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"Star's results highlight how their earnings stream is quite different to the Crown model and in a tighter domestic economy, their result isn't too bad," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"Stocks have rallied several times on the belief that trade tensions were easing, only to fall back down as investors took the opposite view," said James McGlew, executive director of stockbroking at Perth-based Argonaut.
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Low global interest rates are the main reason why markets have had enough confidence to rise despite risks of potential flare-ups in geopolitical tensions, said James McGlew, executive director of corporate stockbroking at Argonaut.
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"To see support come into the market, we need a credible read – 22,23.2 to 26,000 new jobs - would probably be enough to spark new buying," said Michael McCarthy, chief strategist at CMC Markets and Stockbroking.
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Reuters interviews with 13 small and mid-size Australian equity capital markets participants show how the unease created by the case has spread far below the well-heeled banks being charged to more modest stockbroking firms.
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James McGlew, executive director of corporate stockbroking at Argonaut, said the results did not include effects of the latest rate cut from the Australian central bank, "the biggest single driver for recovery" for the housing market.
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Average revenue per client fell 15 percent with the United Kingdom and Ireland down 23 percent due to reduced trading by existing clients and lower margins in the North America Derivatives Exchange (Nadex) and stockbroking businesses.
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"We followed from the U.S. with the Dow closing at a record, although the markets have been driven by big tech stocks like Apple and Microsoft," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"(The deal is) also taking a view on housing construction market in the United States which does appear to be heading in a positive direction," said James McGlew, executive director for corporate stockbroking at Perth-based Argonaut.
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However, it has also put pressure on the City of London's smaller stockbroking and investment banking outfits, with buyside investment firms looking to spend less money on research while brokers have faced a drop in commission fees.
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PARIS, July 17 (Reuters) - Rothschild has agreed to buy a minority stake in British stockbroking and financial services firm Redburn for an undisclosed amount of money, as regulatory pressures push smaller companies to consolidate with larger players.
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"The guidance that the company has given on new construction starts in the United States is very, very solid...the exchange rate obviously helps them," said James McGlew, executive director for corporate stockbroking at Perth-based Argonaut.
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"The group has experienced continued high levels of client trading activity over the period which has been in excess of double that seen in more normalised market conditions in both our CFD and stockbroking businesses," CMC said.
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"The Group has experienced continued high levels of client trading activity over the Period which has been in excess of double that seen in more normalised market conditions in both our CFD and stockbroking businesses," CMC said.
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"Healthcare stocks are doing well today with all the other sectors either flat or marginally in front... We are looking at a holding pattern ahead of the weekend," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"Whatever was agreed last night with the EU still has to go through the British parliament ... The uncertainty surrounding that still hasn't changed one iota," said James McGlew, executive director of corporate stockbroking at Argonaut in Perth, Australia.
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Horizon Stockbroking director Kyri Kangellaris said the FTSE 100 would be underpinned by record low interest rates in Britain, which have hit returns on bonds and cash and driven investors over to the better returns available from shares.
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"If you're looking at the behavior of banks in Australia, it's no question that investors in New Zealand who have been borrowing from them would be scrutinizing things," James McGlew, executive director of corporate stockbroking at Argonaut, said.
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"There is a general concern to see how well everything squares off at the year's end in the United States and that particularly points to the repo market," said Brad Smoling, managing director at Smoling Stockbroking Pty Ltd.
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James McGlew, executive director of corporate stockbroking at Argonaut, said positive leads from the minutes "did not spill over to our markets today as investors here remained cautious, probably focusing on the lack of consensus among the U.S. policymakers".
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"It has been a very good week for the Australian equities, particularly the financial sector ... Today, the market is just consolidating its gains over the week around these levels," James McGlew, executive director of corporate stockbroking at Argonaut said.
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"Ducati being a well-renowned brand will help Eicher in terms of design and technology, which in turn will help expand the Royal Enfield product portfolio in the years to come," said Basudeb Banerjee, analyst at Mumbai's Antique Stockbroking.
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CMC, which rivals IG Group , Denmark's Saxo Bank and Global Brokerage Inc, said costs would rise in the second half of the year, driven higher by marketing initiatives and the roll out of its stockbroking partnership with ANZ Bank .
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"A combination of two things has got the market nervous with regards to Treasury - the long-serving CEO is stepping down ... and Mr. Clarke has certainly transformed Treasury Wines," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"There's no doubt that those factors are affecting sentiment, and even with U.S.-China trade tariffs, there's a lot of uncertainty, which the markets are finding difficult to price," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"There's a lot of pressure on companies such as AGL to extend the life of their coal-fired stations, notwithstanding the community's expectation of them heading more toward renewables," said James McGlew, executive director of corporate stockbroking at Argonaut.
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The company, which provides online stockbroking and trading services to retail investors, said it had made "good progress" in getting regulatory approval for a subsidiary based in the European Union as it prepares for Britain's exit from the bloc.
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"Against a background of significant unrest in the Middle East and the aftermath of the ongoing bushfire disaster at home, the market is hoisting up the white flag today," James McGlew, executive director of corporate stockbroking at Argonaut said.
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"There's perhaps some sort of fear of missing out syndrome from investors," said James McGlew, executive director of corporate stockbroking at Argonaut, adding that it was only a matter of time for CSL to cross the A$300 level.
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Brad Smoling, managing director at Smoling Stockbroking, said there may be news about some friendly chats between Washington and Beijing every now and then, but noted that there was not much optimism about a ground breaking deal anytime soon.
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"There is a broad based sell-off in the banking sector, and the concern is that this is being done with a decent volume today...there is fear in the air," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"The management still does not see a perceptible change in the sentiment with regard to recovery in property, and the market has not embraced the rhetoric Stockland has put on the table," James McGlew, executive director of corporate stockbroking at Argonaut.
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James McGlew, executive director of corporate stockbroking said that window dressing was supporting the gains and the biggest stocks are all going to finish marginally higher as ASX has had a good quarter given the volatility that's coming from overseas.
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Kyri Kangellaris, director at Horizon Stockbroking, said he might be tempted to buy into the FTSE if it fell below 6,000 points, but added he was generally cautious over the near-term prospects for the market given the uncertain economic outlook.
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Less than a week after RHB Bank and AMMB Holdings received the regulatory go-head to start merger talks, the country's second largest lender CIMB Group said it sold a 50 percent stake in its stockbroking unit to China Galaxy Securities.
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The 'Brexiteers' include the founders of some of the biggest stockbroking and fund management companies - Stuart Wheeler, owner of spreadbetting firm IG Index, Peter Hargreaves founder of stockbroker Hargreaves Lansdown, asset manager Fundsmith's Terry Smith and Oliver Hemsley of broker Numis.
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"The U.S. package will have an impact here but the economy that the Australian market will be focussing on is China and what sort of stimulus they put in place," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"It is possible for the Hong Kong and Shanghai stock markets to recover from recent losses if investors can derive optimism based on the change to monetary policy," Jonathen Chan, a market analyst at CMC Markets and Stockbroking, said in a note.
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"The stimulus for the market, as is the case with the U.S. markets, has been the easing of interest rates in Australia that makes all the yield players looks relatively more attractive," said James McGlew, Executive director of corporate stockbroking at Argonaut.
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"We've had some positive leads from international trading... in particular, news of an agreement between China and the U.S. that both sides were looking to put in place by November, turned sentiment around," said Michael McCarthy, chief strategist at CMC Markets and Stockbroking.
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Fortescue will be looking for more access to capacity at Port Headland on Australia's northwest coast, given its proposed Eliwana project is set to ramp up to 30 million tonnes a year as soon as the second half of 2019, Foster Stockbroking said.
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"The positive lead from the Fed meeting minutes did not spill over to our markets today as investors here remained cautious, probably focusing on the lack of consensus among the U.S. policymakers," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"There's less pressure on consumers and that means bad debts would be contained more than they would of in a higher rate environment, financials are beneficiaries as would be the retailers," said a trader at Standard Bank Stockbroking, Rudi van der Merwe.
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The company, which provides online stockbroking and trading services to retail investors, also said on Tuesday it had made good progress in getting regulatory approval for a subsidiary based in the European Union as it prepares for Britain's exit from the bloc.
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"From a risk point of view, it is probably looking more attractive now than it has for some time but it still has got a long way to go to rebuild a reputation," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"Markets are rallying today on the news out of the U.S... (but) sentiment is still dominated by the uncertainty of what lies ahead and how long it will take to tame the pandemic," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"They are a little bit behind their guidance and the market was maybe hoping that they might upgrade as well given all of the U.S. investment banks have done so well," Shaw Stockbroking analyst David Spotswood said of the share price decline.
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"Market is starting to realise the impact on supply chains due to the outbreak, and how long and protracted it could be especially if the numbers are greater than what we are being told," Brad Smoling, managing director at Smoling Stockbroking said.
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"As far as our resource stocks are concerned, we've had a substantial run on the strong iron ore prices and the big three are also seeing a bit of profit taking now," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"We are seeing a sort of rebalance happening, we are seeing some stocks that were unloved and oversold....having a very good day today on a (generally) negative day," said James McGlew, executive director of corporate stockbroking at Argonaut Ltd in Perth.
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"While the (legal issues) shouldn't substantially alter the stock market landscape, money managers and analysts say the developments raise the likelihood of further turbulence ahead for Mr. Trump heading into the mid-term elections," said James McGlew, Perth-based analyst at stockbroking firm Argonaut.
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IG, which provides online stockbroking and trading services to retail and other investors, saw a 15 percent drop in active clients in both the United Kingdom and the EU. Pretax profit fell to 113 million pounds ($146 million) in the six months ended Nov.
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The company, which provides online stockbroking and trading services to retail investors, said that despite a quiet fourth quarter in financial markets, IG's revenue in the final quarter of the year ending May 31 was higher than in the same period a year ago.
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Macquarie CEO Nicholas Moore, who retires next week after a decade, said that although his company's executives had mis-read changes in the stockbroking industry during a switch in focus to wealth management, the company had taken action several years ago to fix those shortcomings.
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"It doesn't matter where you want to hide, these are tough yards for large listed companies but that's probably smack bang in the middle of our expectations," said James McGlew, executive director of corporate stockbroking at Argonaut Ltd, which has shares in Coles and Wesfarmers.
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"The current Liberal government had been resisting this push - it was seen as some undermining the four pillars policy with regards to the Australian banks being too big to fail during the global financial crisis," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"Wealth management is still a business with a future in Australia, but if there's any sector of the market that relies on its reputation, it surely must be in the financial services sector," said James McGlew, an executive director of corporate stockbroking at Argonaut.
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"Wealth management is still a business with a future in Australia, but if there's any sector of the market that relies on its reputation, it surely must be in the financial services sector," said James McGlew, an executive director of corporate stockbroking at Argonaut.
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The U.S. consumer price inflation number "is going to be the underlying driver" of the timing of the next U.S. rate rise, and it is "an absolute given that their trajectory is one of increasing rates," said James McGlew, executive director of corporate stockbroking at Argonaut Ltd.
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Alex DeGroote, an analyst at stockbroking firm Peel Hunt, described the proposed acquisition as a very bold strategic move by Johnston because it appears to contradict the company's push toward digital growth, adding that it would also raise questions over The Independent's future as a standalone title.
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"People will always get sick, and the flu viruses have a very clever way of mutating, meaning that vaccines each year have to be upgraded ... and CSL is right at the forefront of that," said James McGlew, executive director for corporate stockbroking at Perth-based broker Argonaut.
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"AMP has its reputation and its reputation only, throw into the mix of banking royal commission and the issues they have had and it's a very difficult sentiment to turn around, so AMP is looking powerless today," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"Tech companies in Australia trade on a very solid price-to-earnings (P/E) ratio, so even a small miss would give the stock a good knock-around, and that would appear to be happening with Altium," James McGlew, executive director of corporate stockbroking at Argonaut said.
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The scrutiny by both lawmakers and regulators of the long-standing harmony between the U.K.'s biggest stockbroking platform and its most high-profile fund manager could air some long-standing systemic questions around what retail investors who access active funds through investment platforms are getting for their money.
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"There is a view out there now that interest rates are not going to increase in Australia, notwithstanding the fact that the Reserve Bank of Australia would like to see some heat taken out of our housing market prices," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"They will be up for more fines and issues but at the end of the day it will pass just like many of the other issues from the Royal Commission," said Brad Smoling, managing director at Smoling Stockbroking, referring to a public inquiry that found widespread misconduct in the financial sector.
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"One of the things that the markets are finding very difficult to quantify is what the world would look like if (Donald Trump) happens to get in...and the one place that people would stay up to take some comfort in is gold," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"From Wesfarmers' point of view, it gives them the digital and e-commerce capabilities that they were trying to build... you can either spend 38.803 years building it up, or you can go and buy one, and they've gone and bought one," said James McGlew, executive director of corporate stockbroking at Argonaut.
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"People are going to be more reluctant to do underwrites because if you end up in a scenario where there's a shortfall like this, then how do you manage that?" said Stuart Foster, chairman and CEO of Foster Stockbroking Pty Ltd, in a telephone interview, adding that his firm did not underwrite share issues.
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"What we have seen overseas, particularly in the U.S. market over the last seven days or so is that reactions to the trade issues ... have taken a backseat to the very fundamental things, which is the increased chances of availability of easy money with further easing in rates," said James McGlew, Executive director of corporate stockbroking at Argonaut.
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"Today we are seeing a rotation as of the bigger material stocks which have been having a powerful run-up in the past...so there's profit taking from there and those profits are finding its way to the more defensive parts of the market," said James McGlew, executive director of corporate stockbroking at Argonaut, alluding to property trusts, healthcare stocks and the banks.
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" Babel was set up by serial fintech entrepreneur Steve Wise who set up his first company, Synergo Technology, in 1987 and designed the Tarot system, which is used by many major stockbroking companies in the UK. Wise says in an emailed statement announcing the sale: "Babel's next step was to target the US market; this deal greatly accelerates that initiative.
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