Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Friday, 23 August 2013

China manufacturing turns positive

From SMH:

"Australian shares have outperformed Wall Street as the first positive Chinese manufacturing data in four months boosted the big banks and miners.

The benchmark S&P/ASX200 index was up 47.7 points, or 0.94 per cent, at 5,123.4 points. The broader All Ordinaries index was up 48.5 points, or 0.96 per cent, at 5,115.2 points.

RBS Morgans senior private client adviser Bill Chatterton said China’s upbeat purchasing managers’ index reading for August helped Australian shares gain almost one per cent, against a smaller 0.44 per cent gain for the American Dow Jones Industrial Average overnight.

‘‘You go back three or four months and there were some concerns that China wasn’t going to grow,’’ he said.

‘‘Irrespective of commentary from some of the political areas ... saying the mining boom is dead, it’s not.’’

Resources stocks benefited from the news, with Rio Tinto adding 89 cents, or 1.5 per cent, to $59.93.

BHP Billiton gained 27 cents to $35.64 as Fortescue Metals put on 19 cents to $4.45.

Most other sectors of the market were higher, overcoming Thursday’s losses.

The big four banks continued to perform well following a strong week of profit results, with ANZ adding 14 cents to $29.64, Commonwealth Bank gaining 79 cents to $72.05, NAB putting on 12 cents to $32.46 and Westpac jumping 47 cents to $31.47.

Property and development companies also climbed, as several of the larger companies released their full year earnings reports.

Lend Lease shares were up 11 cents to $9.13 after its full year profit rose by 10 per cent.

Mirvac gained 2.5 cents to $1.67, despite a 66 per cent fall in full year profit based on a $273 million residential writedown on luxury apartments announced in February.

Casino operator Crown gained 76 cents to $14.34, despite a full year profit fall of more than 20 per cent, as it flagged future strong earnings from its Macau operations."