The market is down 5. The SFE Futures were down 18 this morning.

The Dow Jones closed down 48 overnight. The Dow was up 13 at best and down 51 at worst. The Dow took a breather after an impressive rise on Friday. No economic data to speak of and volume was relatively light — only 6.54bn shares traded on the NYSE, Amex and Nasdaq. The oil price was up slightly — 3c to $76.52 and Gold also put on 50c to $1298.60. The Aussie dollar is now buying over US96c.

Today’s main points…

  • ASX Ltd (ASX) has given itself a speeding ticket with its share price up around 10% in the past week. They say many factors might have contributed to movement in its share price and that it is in discussions with a small number of exchange groups. ASX down 1.8% to 3320c.
  • A small article on the last page of The Australian Business section reports that Fairfax Media (FXJ) were once supposed to bid for Webjet (WEB). FXJ did hold a 4.9% stake in WEB but have since sold it when CEO Brian McCarthy took over. FXJ unchanged at 152c, WEB up 2c to 244c.
  • Primary Health Care (PRY) has raised $152.3m via a Primary Bonds Series A offer. PRY down 3c to 354c.
  • Access Economics predicts that the government budget might post a modest surplus in 2012-2013, but it is going straight back into deficit in 2013-2014. But Treasurer Wayne Swan has hit back describing Access’ economists are “professional pessimists” on future for growth in the Asia-Pacific region, especially China.
  • Dart Energy (DTE) and Apollo Gas (AZO) both went into a trading halt yesterday. They’re expected to announce a friendly share-based merger that would create a $560m company with a key acreage position in the CSG space near Newcastle. AZO owns CSG tenements in NSW and DTE already owns 21% of their shares. DTE last traded at 105c, AZO at 61c.
  • Campbell Brothers (CPB) has sold their cleaning and hygiene products business, Cleantec, to Ecolad Inc. The terms of the deal were undisclosed. CPB down 2c to 3310c.
  • Transfield Services Infrastructure (TSI) has named Steven Loxton as their CEO. TSI down 0.5c to 65c.
  • QR National IPO – Front page of the AFR says retail investors who participate in the IPO will be offered up to a 10% discount on their shares.
  • Stocks hitting fresh yearly highs today: APA Group (APA), Bradken (BKN), Coca-Cola (CCL), Discovery Metals (DML), Equinox Minerals (EQN) and White Energy Company (WEC).

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