Morning Wrap by broker – 19 Nov 12

DOW+0.37%, SPX+0.48%, NDX+0.57%, OIL+1.43%, GOLD-0.14%

The FSSTI traded off the lows last Fri to close back flat at 2945 with NOBL and FNN seeing a pick up in vols. However, the US overnite last Fri reversed its early losses to close at the highs as the market reacted to comments from House Speaker Joe Boehner that budget talks with President Obama were “constructive.” Today we can expect back to lucklustre trading with the results season ending and lack of news catatlyst. Index should hold above 2900.

* FNN: FY NPAT of $835.6m (-6.9%yoy). Excluding fair value adj and exp gains of $363m, NPAT -26.5%yoy to $472m.

* SMM: Finalised a contract with Prosafe to build the 2nd unit of a new generation harsh-environment accomodation semi-submersible worth US$295.2m.

* YOMA: Trading Halt.