Ozempic, the miracle drug initially designed to combat diabetes but now renowned for its effectiveness as a weight-loss treatment, is sending shockwaves through the ASX as short sellers bet heavily against its potential impact on market valuations.
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The S&P 500 closed near the flat line on Tuesday as investors analysed the latest bond yield moves and corporate earnings season gained steam.
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A nervous Reserve Bank board has its hand on the interest rate lever, ready to push the cash rate up to 4.35% at the Melbourne Cup meeting on November 7 if it feels inflation is getting out of hand.
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Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses the war in Israel and oil.
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The ASX overcame a two-session losing streak thanks to a surge in technology-related stocks, despite some surprisingly cautious remarks from the Reserve Bank of Australia.
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Bapcor (ASX:BAP), the auto parts retailer and wholesaler, is grappling with a challenging beginning to the 2023-24 fiscal year due to a slowdown in consumer demand, impacting its trading performance.
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The Reserve Bank of Australia recently released its latest minutes regarding the cash rate decision. During the meeting, members contemplated increasing the cash rate target by 25 basis points but ultimately chose to keep rates unchanged for the fourth consecutive time.
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A snapshot of the stocks on the move, featuring Rincon Resources (ASX:RCR), Battery Minerals (ASX:BAT) and St George Mining (ASX: SGQ).
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In its first estimate for 2024, Rio Tinto (ASX:RIO) has surprised by forecasting only a marginal rise, at best, in iron ore shipments over 2023. However, Rio also said that its shipments will only be maintained at this very high level by availability and shipments of its lower-grade ores (called SP10).
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Despite a surge in petrol prices, New Zealand's consumer price inflation sharply slowed in the September quarter, effectively dispelling market speculation about the central bank's need to raise interest rates again.
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In a strategic move that underscores Canada's commitment to electrifying its automotive landscape, Umicore Rechargeable Battery Materials Canada Inc. has inked a monumental deal with the Governments of Canada and Ontario.
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Major Wall Street banks are anticipating a significant decline in the euro, with expectations that it could reach parity with the US dollar. This forecast comes as geopolitical tensions in the Middle East threaten to increase Europe's imported energy costs, and concerns over higher borrowing costs weigh on the eurozone's economic prospects.
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Newcrest Mining's (ASX:NCM) final quarterly report as an independent company has revealed a disappointing three-month period, with gold and copper production declining due to maintenance work and lower grades at some mines.
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Stocks closed higher Monday as earnings season heats up this week. Eleven per cent of the S&P 500 slated to report results. Some notable names on deck this week include Johnson & Johnson, Bank of America, Netflix and Tesla.
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With Albemarle walking away from its $3 cash offer, Liontown Resources (ASX:LTR) had a Plan B in motion when trading resumed on Monday. It called for a halt in trading to secure additional capital and debt overnight and today.
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In this interview, the Managing Director of Cooper Metals (ASX:CPM) discusses their active drilling program at the Mount Isa region, focusing on copper and gold prospects.
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Damon Dorman, the Managing Director at Golden Mile Resources (ASX:G88), discusses the discovery of vermiculite in their Quicksilver Nickel project in Western Australia.
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On Monday, the Australian stock market experienced a decline as investors sought refuge in bonds and gold due to growing concerns about increasing tensions in the Middle East.
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Treasury Wine Estates (ASX:TWE) appears confident that it can soon resolve its wine tariff issues in the once-thriving Chinese market. As a precautionary measure, the company is increasing its stock of its best-selling and most profitable brand in anticipation of a potential resolution in the coming months.
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Oil prices remained stable as Israel had not yet initiated its expected ground offensive in Gaza, while the United States intensified diplomatic efforts to prevent the crisis from escalating regionally.
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A snapshot of the stocks on the move, featuring Tamboran Resources (ASX:TBN), Melodiol Global Health (ASX:ME1, FRA:1X8) and Superior Resources (ASX:SPQ).
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Albemarle has abandoned its $3-a-share, $6 billion-plus bid for Liontown Resources (ASX:LTR), leading to an anticipated drop in Liontown's shares on Monday and putting Gina Rinehart's Hancock Prospecting at risk of a substantial paper loss.
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Lower-than-expected claims (and consequently, payouts) stemming from cyclones in Vanuatu earlier this year have prompted Tower, the New Zealand insurer, to revise its earnings guidance for the year ending on September 30.
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African gold miner, Resolute Mining (ASX:RSG), used the opportunity presented by a bullish three-year update released on Friday evening to downplay a reduction in guidance for its 2023 financial year, ending December 31.
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BluGlass Limited (ASX:BLG) CEO Jim Haden discusses the company's being named a hub member of the US Department of Defense's Microelectronics Commons.
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Stocks fell Friday, pressured by a spike in oil prices and rising inflation expectations, as Wall Street wraps up a volatile week.
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Barrick Gold has received clearance to revive its Pogera gold mine in Papua New Guinea, which had been closed for three years due to a dispute with the country's government over benefit-sharing.
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Newcrest's (ASX:NCM) time as an independent company is dwindling, with just a few weeks left following an overwhelming shareholder vote in favor of the $A26.2 billion merger with US gold mining giant Newmont.
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Once again, China's imports of key commodities tell us a lot about the health of demand and economic activity – not very healthy, but not dead.
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In the week ahead, investors have a lot to digest. There's ongoing conflict in the Middle East, Australian job data, remarks from the new Reserve Bank chief, a speech by Fed Chair Jay Powell, and US retail sales figures. Additionally, there's the aftermath of the Voice referendum loss in Australia, the NZ elections and a change in government, China's latest economic data, and GDP figures for the September quarter, along with the Polish parliamentary elections and quarterly reports from around the world.
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Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses developments in investment markets over the past week, economic activity trackers, major global economic events and Australian economic events.
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INOVIQ Limited (ASX: IIQ) has announced the appointment of David Williams as a Non-Executive Director and Chairman Elect.
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China’s foreign trade contracted for yet another month in September, confirming that demand all round remains weak.
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Paul Rennie – Founder and Managing Director – Paradigm Biopharmaceuticals Limited (ASX:PAR) is a global biopharmaceutical company. Its current focus is a drug for the treatment of osteoarthritis.
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Steve Promnitz – Managing Director – QX Resources Limited (ASX:QXR) is focused on exploration and development of battery minerals, with hard rock lithium assets in a prime location of Western Australia, lithium brine project in the USA, copper/moly/gold assets in Queensland and a strategic investment in nickel sulphides in Sweden.
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Riccardo Canevari – CEO and Managing Director – Radiopharm Theranostics Limited (ASX:RAD) is focused on the development of radiopharmaceutical products for diagnostic and therapeutic uses in areas of high unmet medical needs.
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Philip Daffas – CEO & Managing Director – PainChek (ASX:PCK) develops mobile medical applications intended to provide pain assessment for people who cannot communicate with their carers.
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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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