European stocks fall 1%

ASX set to open lower

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U.S. stocks edged lower, with the S&P 500 Index slipping from a 10-

month high, as investors evaluated the gauge’s run toward a record

amid lingering concerns about the impact of lackluster global growth.

Equities staged an afternoon rebound as raw-material producers and

banks trimmed losses, while defensive shares including utilities and

phone companies rallied to offset those declines.

The S&P 500 retreated 0.2 percent to 2,115.48 at 4 p.m. in New York,

after losing as much as 0.5 percent. The gauge closed closed 0.7

percent from a record. The Dow Jones Industrial Average lost 19.86

points, or 0.1 percent, to 17,985.19. The Nasdaq Composite Index

declined 0.3 percent.

Skepticism over the European Central Bank’s stimulus program

weighed on the region’s shares for a second day, taking their

valuations to the lowest levels since July 2015 relative to global stocks.

The Stoxx Europe 600 Index fell 1 percent at the close, with more than

500 of its members down.

Banks, Commodities Weigh on U.S. Stocks; Europe Down 1%

YESTERDAY IN THE INTERNATIONAL MARKETS Global Ticker Daily Change

S&P 500 -0.17%

Dow Jones -0.11%

NASDAQ -0.32%

STOXX 600 -0.96%

FTSE 100 -1.10%

DAX30 -1.25%

Crude Oil -1.50%

Gold +0.79%

The Australian share market swung between gains and losses in

yesterday’s session to finish 0.2% or 8 points lower at the closing bell.

The ASX opened higher - flirting with the 5400 level - before retreating

to hit the daily low around 1:30 PM. The market recovered slightly in

the final hour of trading and closed essentially little changed.

While the blue-chip index fell, the S&P/ASX Small Ordinaries, which

represents the small cap members of the S&P/ASX 300 Index, but

excludes those in S&P/ASX 100 Index, rose 0.9%, outperforming the

largest companies yet again.

The sectors were mixed yesterday: Utilities, Energy and Consumer

Discretionary rose 0.3% each, and the Materials sector was little

changed. Shares in Health Care and Telecommunications declined.

Surfstitch (ASX:SRF) and Amcor (ASX:AMC) released profit

downgrades which sent both shares plummeting. SRF fell 21% while

AMC declined 8%.

Small-Mid Caps Outperform; “All Ords” Little Changed

THE ASX YESTERDAY IN REVIEW AUS Ticker Change

ASX200 -0.15%

ALL ORDS -0.07%

SMALL ORDS +1.09%

CBA -0.90%

BHP +0.36%

NAB -0.23%

HRR +6.67%

RSG +2.16%

SDF +5.03%

DAILY PRICE ACTIVITY AUSTRALIA

ASX200 price action yesterday

UPCOMING DIVIDENDS

Courtesy of http://www.morningstar.com.au/Stocks/UpcomingDividends

Tasty dividends & distributions

DATE CODE COMPANY ANNOUNCEMENTCODE COMPANY NAME EX DIVIDEND PAY DATE AMOUNT FRANKING %

FPH Fisher & Paykel Hlth 16 Jun 2016 08 Jul 2016 9.29 0.00

YTMAST -- 17 Jun 2016 01 Jul 2016 287.50 0.00

AQHHA HY 3M 09-72 Q RD T 21 Jun 2016 30 Jun 2016 169.04 --

CNGHA HY 3M 03-37 Q RD T 21 Jun 2016 30 Jun 2016 139.51 --

TTSHA BND 3M 07-19 24 Jun 2016 05 Jul 2016 133.92 --

YTMSYD -- 27 Jun 2016 11 Jul 2016 387.50 0.00

CZZ Capilano Honey 29 Jun 2016 29 Jul 2016 40.00 100.00

IMFHA BND 3M 06-19 E 29 Jun 2016 08 Jul 2016 161.64 --

MBLHB HY 3M PER Q ST 29 Jun 2016 15 Jul 2016 99.48 --

RFF Rural Funds 29 Jun 2016 29 Jul 2016 2.23 0.00

RFP -- 29 Jun 2016 29 Jul 2016 2.51 100.00

SYD Sydney Airport 29 Jun 2016 12 Aug 2016 15.00 0.00

WHATS HOT?

DATE CODE COMPANY ANNOUNCEMENT

WHATS NOT?

REA.asx - steaming hot AHL.asx - cooling down

REA group hit a fresh all-time high of $56.70

yesterday. The company recently announced

that revenues rose 20%, while free cash flow

increased 50% during the 9 months ended 31

March. REA also acquired Flatmates.com.au

adding another high quality asset to the

company’s online presence.

Wise-owl continues to notice contracting

valuations across a number of early-stage tech

start ups. AHAlife is witnessing growth, however

the company remains cashflow negative and is

reliant on external capital. It appears that the

markets early enthusiasm for many new tech

listings has waned.

ECONOMIC NEWS

What to look out for:

DATE CODE COMPANY

Chinese market remains

closed

No important economic data

today

NEWSWORTHY

This caught our attention..

DATE CODE COMPANY ANNOUNCEMENTStockland Upgrades Elara Community with

$290m Acquisition

Australian property developer Stockland Group (ASX:SGP)

announced the acquisition of a 95 hectare property at Marsden

Park in north west Sydney which extends its Elara community.

Stockland has entered into an agreement to acquire the property

for $290million from Winten Property Group on “capital-efficient

terms” over 30 months.

Managing Director and CEO Mark Steinert believes that the

acquisition is a “good investment” for Stockland as it increased the

company’s exposure to the Sydney residential property market,

which has been “performing strongly”. Furthermore, he added: “The

North West Sydney Growth Centre remains under-supplied, given

the pent up demand for vacant land and the strong underlying

fundamentals that we see for this corridor.”

Click Here to Read the Full Story

LATEST UPDATE FROM WISE-OWL

Adacel Technologies Ltd (ADA)

CODE COMPANY ANNOUNCEMENTGrowth Portfolio: Adacel Technologies Ltd (ADA)

ASX:ADA

Adacel Technologies Limited ("Adacel", "the Company") is an Australian

software company focused on civil aviation and air defence. The

company's products include air traffic control systems, training software

and voice recognition technology. Adacel's software is being used in

North America, Europe, the Middle East and Asia Pacific.

Adacel offers profitable exposure to demand for enterprise software. We

are attracted to the company's earnings momentum, balance sheet, and

income visibility. Whilst the current valuation assumes a degree of

ongoing growth, we anticipate that evidence of sustainability, recent

implementation of dividends and enhanced liquidity could drive further

capital growth. We initiate coverage with a 'buy' recommendation.

BUY | Last Price: $2.70 | Target: $3.95 | Stop: $1.90 | Outlook: 12m+

View Full Report

OUR VIEWS AT A GLANCE

Find below a summary of Wise-owl’s current market views

CODE COMPANY ANNOUNCEMENT

The ASX 200 has potential to outperform international markets in 2016/17

We continue to focus on small-mid cap stocks

There are individual opportunities on the ASX 200

We favour the risk/reward ratio for gold miners

We see value in European equities

We see little upside for US stocks

A WISE-OWL PUBLICATION

Presented by Simon Herrmann

DATE CODE COMPANY ANNOUNCEMENT

Wise-owl.com

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Wise owl specializes in identifying emerging companies and financial market trends

very early in their life cycle. The significant capital growth that often follows has earned

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LICENSE & DISCLAIMER

DATE CODE COMPANY ANNOUNCEMENTDISCLAIMER

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