The March quarter’s Consumer Price Index gave us a hint of what might have been had the COVID-19 pandemic not hit, but the data also confirmed that apart from government-driven charges for tobacco and alcohol costs and private health care, the 0.3% quarter on quarter and 2.2% annual reading would have been much lower.
Read MoreMore bad news for the struggling Seven West Media – its attempts to sell its unwanted Pacific Magazines business to Bauer, the local arm of the German publishing giant.
Read MoreNews Corp Australia has joined its peers in the shape of Ten, Seven West Media, Nine Entertainment, Domain, Southern Cross Austero and smaller players in being brought down by the COVID-19 pandemic and the lockdown.
Read MoreMining and construction services company Worley has boosted its reserves against the COVID-19 pandemic and the slumping oil price with a new $465 million of new debt
Read MoreDiversified developer Lendlease is asking investors for $1.15 billion to shore up its balance sheet and protect its global pipeline of developments from the expanding ravages of the coronavirus pandemic.
Read MoreTraders in the oil markets are getting desperate for any ‘good news’ On Tuesday an explosion in Syria on an oil tanker sparked a 30% surge in the price of West Texas Intermediate – that lasted several hours before prices sank back and fell for a loss on the day.
Read MoreWesfarmers says it will fast track its review of struggling department store Target in the wake of a sharp fall in sales through the retailer so far in April.
Read MoreAfter early gains, Wall Street lost ground and turned lower in the last hour of trading Tuesday as tech investors warily eyed the slate of earnings reports from tech giants like Apple, Amazon, Alphabet, and Facebook due from Wednesday onwards.
Read MoreOptimism about New Zealand in the recovery from the current slump from global ratings agency Moody’s. The ratings group says NZ’s low Government debt puts it in a good position to navigate the recovery from the COVID-19 disruption.
Read MoreWestpac has joined the NAB in revealing a huge boost to its impaired loans charge for the six months to March 31, a move that could see the bank report a statutory loss for the half, or at best a very weak profit.
Read MoreA weaker US dollar, scattered signs of a relaxation of the lockdowns in the US, Asia, and Europe saw an easing of tensions in markets and that led gold to a small drop on the day, along with silver.
Read MoreWhile the BOJ kept its interest rate targets unchanged, as had been widely expected, it pledged to buy an unlimited amount of bonds to keep borrowing costs low as the Abe government tries belatedly to spend its way out of the deepening economic pain from the coronavirus pandemic.
Read MoreDomain, Nine Entertainment’s 59%-owned digital real estate listings business has sought more debt from its lenders and intensified its cost-cutting.
Read MoreThe downturn in demand for energy, especially petrol and jet fuel is hitting the Australian refining and distribution sector with Viva Energy saying it’s Geelong refinery would be shutting down major processing units and scaling back output as the coronavirus crisis cuts demand for fuel.
Read MoreAnother bad day for oil with a slide that started in Asia in early trading, ending in New York at settlement for West Texas Intermediate (WTI) crude with a near 25% slump.
Read MoreAnother rough day for oil, especially US oil futures, failed to make a dent on Wall Street’s optimism about moves to ease lockdowns and re-open small parts of some economies.
Read MoreNAB’s big announcements on Monday, especially the cut to the interim dividend and the decision to raise new capital has largely gone down well.
Read MorePoker machine and electronic game maker, Aristocrat Leisure will cut staff numbers and other costs and has suspended its interim dividend to counter the growing negative impact on its finances from the COVID-19 pandemic.
Read MoreSo will the other big banks follow the National Australia Bank which is looking for up to $3.5 billion in new capital after cash earnings plunged 51% to just $1.41 billion and the bank slashed its interim dividend 60% to just 30 cents a share?
Read MoreResults from the ANZ Bank and Macquarie Group will dominate an otherwise quiet week. The big issue for investors will be the level of dividends both banks declare after the strong advice from the key regulator APRA.
Read MoreOil prices rose on Friday but still fell for the week – the most volatile in the market’s history. But that’s all history, the big event this week and for a while will be the May 1 start of the latest cap on global oil production by OPEC, Russia, and several smaller producers, plus benign support from the US.
Read MoreGold futures ended lower on Friday but enjoyed their fourth weekly gain in five weeks as investors continued to weigh demand for the metal against mixed trading in the stock market ahead of the busiest week in the March quarter reporting season.
Read MoreWednesday and Thursday in the US and Europe will see the shape of the looming economic slide becomes clearer with first GDP reports for the US and the eurozone to be released – the latter to be accompanied by GDP reports from the two countries in Europe most stricken by COVID-19 – Spain and Italy.
Read MoreFor the week US shares fell 1.3%, Eurozone shares fell 1.8%, Japanese shares fell 3.2% and Chinese shares lost 1.1%. Australian shares slid down 4.5%. Australian shares were dragged down by 4.5% by the poor global lead with energy shares down again but the biggest falls were actually in property, industrial, retail and health stocks.
Read MoreAfter weak indicators for Australian car sales, jobs and wages, but a strong showing for retail sales, it’s time for the release of one of the top tier bits of data – the quarterly consumer price index on Wednesday.
Read MoreSome of Wall Street’s most valuable companies are scheduled to report their results this week while the annual capitalism festival – AKA the Berkshire Hathaway annual meeting – will be very different this Saturday, May 2. It will be virtual, so the 50,000 or so people who normally trek to Omaha Nebraska, won’t be turning up in person.
Read MoreThe dramatic plunge in economic activity across economies large and small became clearer on Thursday with the release of preliminary results of surveys of manufacturing and service sector activity with the readings plunging to record lows.
Read MoreWall Street ended with small gain for the Dow and small losses for the S&P 500 and Nasdaq on a day when the flow of news was unremittingly bad, especially economic.
Read MoreBoom, boom for oil? For a second session, oil prices have risen sharply. Are we seeing the return of the boom? Not really, the rises merely reflect a retracement of the big falls of Monday and Tuesday when US crude futures went negative, weighed down by too many sellers and no buyers as the contract approached its expiration.
Read MoreGold prices edged up to daily highs after the release of the preliminary manufacturing and service-sector sentiment reports for April and the latest jobless claims numbers.
Read MoreThorn Group shares surged more than 54% yesterday after it became the first casualty of the COVID-19 shutdown. The appliance and electronics lender told the ASX that it’s Radio Rentals division will permanently shut all shop locations across Australia and make approximately 300 staff redundant.
Read MoreAustralian Pharmaceutical Industries, part of the group of companies clustered around Sydney-based Washington H Soul Pattinson, has dropped its interim dividend to shareholders as it prepares to face the gathering COVID-19 pandemic storm.
Read MoreAnalysts at Bank of America are upbeat on the outlook for gold prices, raising their 18-month price target to $US3,000 an ounce from $US2,000. The drivers they said would be the prospect of endless monetary expansion from central banks, including the Federal Reserve, to limit the economic damage from the COVID-19 pandemic.
Read MoreA more ‘normal’ day’s trading for oil on Wednesday saw gains for both US West Texas Intermediate and Brent than would normally be headline grabbers.
Read MoreSwearing off acquisitions – perhaps only for a while – has managed to change investor confidence in WiseTech, the shipping logistics, and data company.
Read MoreA2Milk has already emerged as a beneficiary of the COVID-19 pandemic and lockdowns in that the slide in sales missed it. Yesterday the company it more flesh on that suggestion with a further update of its performance so far this year and an upgrade to its guidance for the year to June.
Read MorePrivate hospitals group, Ramsay Healthcare is looking to raise a lot of money – $1.4 billion – very quickly, confirmation that the fallout from the COVID-19 pandemic is hitting every sector of the economy.
Read MoreMyer, the department store chain, has joined Premier Investments, its biggest shareholder, in delaying the re-opening of its stores until mid-May.
Read MoreA rush to stockpile groceries and office supplies ahead of looming COVID-19 lockdown measures pushed retail turnover up by a monthly record of 8.2% in March.
Read MoreWill a stunning result from Netflix save Wall Street after a second day in the red on Tuesday? Wall Street saw another session of uncertain, volatile dealings that knocked the market lower.
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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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