Annual growth in the year to March was the slowest through-the-year growth since September 2009 when Australia was in the GFC. But there’s worse to come with some forecasts pointing to a fall of 8% or more in the June quarter.
Read MoreKerry Stokes and son and heir Ryan, have sent another strong message that the legacy media sector, where they first made their name and then lost a fortune – is no longer of any relevance by emerging with a near 10% stake in struggling building products giant, Boral.
Read MoreUnlike larger companies like Cochlear, Ramsay Healthcare, and National Australia Bank, a retail offer to small shareholders by wholesale mobile phone and accessories distributor Cellnet has bombed badly.
Read MoreShares in Queensland-based rail freight company Aurizon edged up 1% on Wednesday after the company provided an encouraging update to investors on COVID-19 and its debt refinancing which will see more money borrowed, but a whack of short term debt repaid.
Read MoreGlobal stock markets hit three-month highs on Tuesday as the protests sweeping the US had no impact, especially on Wall Street, though the US dollar continued to weaken.
Read MoreTalk of extending the current 9.7 million barrels a day production cut for three more months has seen global oil prices hit their highest levels since early March.
Read MoreNo movement in the cash rate of 0.25% from the Reserve Bank’s June meeting yesterday as the bank also continues to target the three-year bond rate at 0.25%.
Read MoreBrickworks says it has laid off staff as it suffered a 10% slide in its Australian sales revenue over the last four months.
Read MoreANZ Bank’s asset sales are reaching the end of a three-year campaign with the news that the bank is finally is selling its New Zealand asset finance business, UDC Finance, for $NZ762 million ($A705 million).
Read MoreMarch quarter GDP data is out today and the question is can another solid trade surplus, a sharp rise in retail volumes and a lift in government spending offset the negative impact of weak wages, business investment, construction, and housing investment and the biggest fall in business inventories in six years?
Read MoreNo impact yet on markets from the protests sweeping the US. As a result, the ASX is looking at a modest gain at the opening this morning of around 10 points after a mixed and directionless session offshore.
Read MoreIn contrast to the gloomy news from Vicinity, the shopping mall operator, CBD owner, and manager, Dexus says it has a clear picture about the year to June and can provide guidance on its distribution for the year to June.
Read MoreThe strains in retailing caused by the COVID-19 pandemic slamming retail sales in April and May has seen Vicinity Centres, one of the biggest shopping mall operators in the country heading for a $2 billion-plus loss for the final six months of its June 30 financial year in what will be the start of a round of huge write-downs for the sector.
Read MoreAustralian house prices dipped in May and look like continuing to edge lower in the next few months, despite the easing of restrictions on auctions and open house inspections.
Read MoreGlobal oil prices soared again on Friday, with US futures ending May with fantastical record monthly gains on hopes global output would fall fast enough to meet a rise in global consumption.
Read MoreGlobal iron ore prices have topped the $US100 a tonne level for the first time in 10 months on growing concerns over supplies from Brazil as the COVID-19 pandemic grows in the iron ore producing regions in the north and south of the country.
Read MoreChina’s huge manufacturing sector grew at a slower pace than forecast, underlining an uneven rebound from the slide in the first quarter.
Read MoreIn Australia (see separate story) it’s the Reserve bank’s June policy decision tomorrow – no move in rates and then the March quarter GDP data on Wednesday. Globally the major release will be America’s May jobless figure Friday night, Australian time.
Read MoreThe economy is front and centre this week in Australia with the monthly Reserve Bank meeting tomorrow, the March quarter national accounts and GDP figures on Wednesday and a string of important data releases for April and May.
Read MoreFor the month, the Dow was up 4.3% gain, the S&P 500 climbed 4.5%, while the Nasdaq jumped 6.8% thanks to good performances by tech giants like Microsoft, Netflix, Facebook, Apple, and Amazon.
Read MoreThe ASX has now finished higher in nine of the past 10 weeks and has rallied 30.7% since hitting a multi-year low 4,402.5 on March 23. For May the market was up 233.3 points or 4.2%, meaning last week’s surge produced all the gains for the month and reversed a small impending loss prior to trading starting last Monday.
Read MoreSo will the strong run on the ASX 200 come to an end Friday after Wall Street closed lower through a 360 point turnaround? The switch was due to Donald Trump revealing he plans a press conference on Friday on China – presumably on the tightening of China’s control of Hong Kong.
Read MoreMore evidence of the weakening outlook for the economy, despite the bullishness of stockmarket investors. At the same time Reserve Bank Governor, Philip Lowe added his view to the weak outlook, warning that the economy is not in good shape with more job losses very possible.
Read MoreThe COVID-19 pandemic’s impact on demand for oil and gas, on top of the destabilising price war in March and April and the slump in global prices, has come to the aid of Santos.
Read MoreBendigo and Adelaide Bank has joined its larger peers and lifted revealed a big provision of nearly $150 million for possible bad debts for the year to June.
Read MoreThe impact of COVID-19 and lockdowns across Europe and the US has forced toll road operator Atlas Arteria to cancel its dividend and look to raise nearly half a billion dollars to help tide it over the current slump.
Read MoreIt looks like being a solid day for the ASX after Wall Street’s bounce continued with the S&P 500 closing above 3,000 for the first time since March 5, as the further easing of lockdowns lifted optimism for an economic recovery.
Read MoreLed by NAB which has doubled the size of its capital raising for retail shareholders to $1.25 billion, citing strong demand from small investors, bank shares have staged a remarkable rally on the ASX.
Read MoreWhile department store operator, Myer is re-opening most of its stores this week, and yet rival David Jones is looking to close many of its 48 outlets across the country. It’s not that Myer is a financial or sales success story, far from it but judging from the trading update yesterday in South Africa from parent, Woolworths Holdings, David Jones’s is slip-sliding its way deeper into trouble.
Read MoreShares in Brisbane-based global testing group, ALS Ltd rose nearly 3% despite the group revealing a weak 2019-20 result and lower final dividend.
Read MoreEarlier this week, aged care group, Estia Health gave itself a clean bill of health for its finances and experience with COVID-19. Yesterday another aged care operator, Japara Healthcare revealed a $300 million hit to its goodwill.
Read MoreVitamins and supplements maker and exporter, Blackmores has joined the fundraising club with a $117 million offer to shareholders on Wednesday.
Read MoreThe COVID-19 pandemic and start of the lockdowns triggered a massive sell-off in shares in Australia and around the world in the three months to March 31.
Read MoreAfter two days of big gains with the ASX 200 up more than 5%, the overnight futures market has pencilled in a sharp, 60 point fall when trading resumes this morning.
Read MoreA surge in travel and tourism-related stocks in Europe and the US dragged Wall Street higher on Tuesday after the markets were closed on Monday for the Memorial Day holiday.
Read MoreThe COVID-19 pandemic hit Coca Cola Amatil hard in major markets in Australia, New Zealand, and the Pacific and Indonesia as retail outlets such as cafes and small supermarkets, cinemas, and theme parks were forced to close by the widespread lockdowns.
Read MoreIn a lengthy update to the market Air New Zealand has given a strong hint of how it sees the immediate future for its business – perhaps some more domestic flights, but most international travel will be out until 2021.
Read MoreA major move for small Australian miner, New Century Resources which revealed on Tuesday that it is in talks with Brazilian miner Vale about buying the latter’s underperforming New Caledonian laterite nickel operations.
Read MoreEstia Health shares climbed more than 5% on Monday after the aged care home operator released an encouraging COVID-19 update.
Read MoreShares in the ASX-listed almond producer Select Harvests have been cracked by investors after the company released a weak first-half result and cut its interim dividend.
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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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