China’s exports in August rose 9.5% from a year earlier, following a 7.2% increase in July. But on the other side, August saw another fall in imports – down 2.1% from a year ago which was a bigger fall than the 1.4% dip in July.
Read MoreFed chair Jay Powell had a message late last week for Australia, the US (of course), and the rest of the world about the battle to control the coronavirus and emerge with the economy in good shape.
Read MoreInvestors seem to be fairly relaxed by the threat from Viva Energy to shut its Geelong oil refinery. Demand for petrol, distillates, and especially jet fuel have been cut by the lockdowns, with the latter likely to be a long term concern.
Read MoreA blow to the share price of electric carmaker Tesla with the company missing out being included in the rebalancing of the SP&500 index, the world’s most important share price gauge.
Read MoreAnother weak start for the ASX today after Wall Street ended weakly on Friday but ended lower ahead of a three day weekend. Friday saw the ASX sell-off heavily with the index losing more than 3% or over 187 points – that was a loss of more than $60 billion in value.
Read MoreOil futures prices fell on Friday, with West Texas Intermediate crude ending below $US40 a barrel for the first time in two months. Gold futures ended lower for a third session in a row on Friday, for a weekly loss of around 2%, as solid monthly US employment data helped.
Read MoreThe strong growth in retail sales in July was confirmed on Friday by the Australian Bureau of Statistics which reported a rise of 3.2%, seasonally adjusted from June. This updated the preliminary report of a 3.3% rise published by the Bureau on August 21 and was faster than the 2.7% rise in June.
Read MoreWarren Buffett’s Berkshire Hathaway continues to make it clear he and his managers are not enamored with most American banks except Bank of America. Late Friday, (US time) Berkshire revealed it had sold more shares in what was one of Buffett’s so-called ‘pillar’ stocks – Californian-based Wells Fargo bank.
Read MoreThis week sees Australia getting an update on jobs and wages for most of August tomorrow, ahead of the Labour Force report on Thursday week. There are also lending indicators on Wednesday and overseas arrivals and departures on Friday.
Read MoreAs they drove Wall Street to record highs, so tech giants led by Apple, Tesla and Microsoft drove it lower on Thursday in the biggest one-day sell-off since June.
Read MoreNew vehicle sales in Australia slumped nearly 30% in August, thanks largely to the stage four lockdowns in Melbourne and stage 3 restrictions across the rest of the state.
Read MoreCredit ratings group, Moody’s likes the NAB’s sale of its MLC wealth advisory business to IOOF. After the $4.5 billion capital raising earlier in the year, Moody’s says the MLC sale will be a significant boost to the bank’s capital adequacy.
Read MoreThe COVID-19 pandemic, lockdowns, and bans on international travel have hit the annual results of yet another gambling company. Australia and NZ casino operator SkyCity Entertainment revealed on Thursday that coronavirus lockdowns had hit earnings hard in 2019-20, forcing the company to write down the value of its Adelaide casino.
Read MoreWall Street ended higher with the S&P 500 and Nasdaq reaching new highs (again) on Wednesday, despite more evidence the US economy remains weak.
Read MoreThe impact of the COVID-19 pandemic and widespread lockdowns in April and May saw a 7% quarter on quarter fall in Australian GDP in the three months to June, ending the country’s 28 years of unbroken growth (with a couple of narrow misses, such as in 2008-09 in the GFC).
Read MoreEurope has become the latest trouble spot for local agricultural chemicals and seed company Nufarm a year after the company got rid of its previous problem businesses in South America to major shareholder, Sumitomo Chemical.
Read MoreThe struggling AMP has admitted that its businesses are not performing under their current ownership and has responded to pressure from unsolicited buyers and will look at possible spin-offs, sales, or demergers.
Read MoreMixed economic news from Asia yesterday – more confirmation that the Chinese economy is growing, but as well, more confirmation from South Korea that it’s export dependant economy remains stalled as shipments fell sharply in November.
Read MoreBuilding approvals surged in July something of a surprise at the start of the new financial year, jumping 12% with solid rises from private and non-private dwellings.
Read MoreQBE Group chief executive Pat Regan will leave the insurer after an external investigation into workplace communications that the board said did not meet the group’s code of ethics and conduct. Meanwhile, former senior BlueScope Steel executive Jason Ellis has pleaded guilty in Sydney’s court to one charge of obstructing a cartel investigation.
Read MoreAs expected the Reserve Bank of Australia held official interest rates at a record low 0.25% for another month as it prepares for the release later this morning of what will be the worst set of national accounts and GDP data for decades.
Read MoreShares of Apple and Tesla surged on Monday after stock splits took effect and attracted more buying from investors, but while Nasdaq ended higher on the last day of August, the sharp rises by two of the best-known names on the boards could not drag the Dow and S&P 500 higher.
Read MoreThe Chinese economy – especially the larger services sector – continues to recover slowly from the COVID-19 slump earlier in the year, but in Japan its more of a struggle, despite more positive signs.
Read MoreEmbattled women’s wear retailer Mosaic Group has settled its nasty rental standoff with Australia’s largest retail landlord that saw it locked out of 129 of its stores in Westfield’s malls two weeks ago.
Read MoreMelbourne-based wealth manager IOOF is buying the National Australia Bank’s final remaining wealth business for $1.5 billion, a move that completes big four banks divestment from the super, wealth management, and insurance businesses.
Read MoreSo now, suddenly Japan is on the investment radar at Berkshire Hathaway and every company in that country with a big price movement will attract speculation that Buffett is buying.
Read MoreShares in Apple and Tesla split on Friday after trading ended and will start trading tonight on Wall Street at vastly lower levels. Tesla’s split won’t change much so far as the market measures like the Dow are concerned, but Apple’s has already seen a huge revamp.
Read MoreDespite the apparent solid end to trading on Wall Street on Friday, the ASX looks headed for a slide at the open this morning. That comes after a week where Australian shares fell 0.6% while US shares jumped 3.3%, Eurozone shares gained 1.7% and Chinese shares were up 2.7%. Japanese shares fell 0.2% reflecting policy uncertainty following PM Abe’s resignation on Friday.
Read MoreGold rose on Friday, pushing prices higher for the week after the Federal Reserve’s announced a major monetary policy shift on Thursday that would allow employment and inflation to run stronger for longer with a boost to interest rates.
Read MoreOil futures eased on Friday, but still managed a weekly gain a day after Hurricane Laura made landfall on the Gulf Coast but spared refineries and associated infrastructure were from extensive damage.
Read MoreA big week for the Australian economy with confirmation expected on Wednesday’s national accounts of the steepest fall in GDP since the Great Depression and another no move decision from the Reserve Bank on interest rates tomorrow.
Read MoreThe Australian June 30 earnings season wraps up today and tomorrow. Despite the huge hit to earnings and dividends, corporate results have not been as bad as feared while the outlook for earnings growth expectations for 2020-21 appears to be improving.
Read MoreA busy start of month week here, in the US and globally to go with the continuing COVID-19 infections and the start of the US November 3 presidential and congressional elections as well as the start of month surveys on manufacturing activity across the globe including China, Australia, Europe, and the US.
Read MoreShares in Bega Cheese topped the ASX 200 performance chart on Thursday after a 2019-20 profit that satisfied investors. The Bega share price reached as high as $5.30 (a rise of more than 8%) and closed a touch lower at $5.24, still up 7.8%.
Read MoreThe expected COVID-19-driven plunge in business investment emerged yesterday in June quarter data on private capex from the Australian Bureau of Statistics.
Read MoreFlight Centre big loss in the year to June was very much expected as the company raised new capital, slashed staff numbers and costs, accepted JobKeeper payments in a struggle to survive.
Read MoreNine Entertainment has reacted to the impact of COVID-19 and the lockdowns and lower revenue and earnings with $702 million of impairments and a lower dividend.
Read MoreLike Qantas, there was a big blob of red ink for Air New Zealand thanks to COVID-19 in the year to June, but unlike its other Australasian rival, Virgin Australia, the Kiwi carrier remains solvent and in business.
Read MoreWoolworths’ diverse areas of business – hotels, department stores, supermarkets, wine, and liquor and a growing online presence was not enough to protect the company in the face of the ravages of COVID-19 and the lockdowns across the country.
Read MoreShares in Afterpay slowed their rapid rise of recent days yesterday despite the buy now pay later company revealing a solid set of results for the year to June and plans for more expansion this financial year.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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