The Dow Jones fell by 383 points or 1.3% from record highs after being down 724 points in early afternoon trade. The S&P 500 index fell by 1.5% from record highs. And the Nasdaq index fell by 190 points or 1.5%.
Read MoreEquity markets were weaker while gold starred in the first trading session for 2021.
Read MoreA rude start to 2021 for shareholders in Link Administration Holdings as the company announced that a $3 billion indicative offer from US group SS&C Technology Holdings is no longer on the table.
Read MoreThe Australian sharemarket bounced back from heavy losses a day earlier, with the ASX 200 surging by 1.5%. Gains from mining stocks were most impressive, with Fortescue Metals hitting a fresh record high.
Read MoreThe Australian sharemarket is lifting at lunch on the first trading day of 2021. Gains from banks and mining stocks are contributing most to the market.
Read MoreASX200 up 48 points (0.7%) to 6634. Gold stocks up, travel stocks down. Link down 12% as SS&C Technology Holdings withdrew its indicative proposal.
Read MoreFor the second year in a row, Warren Buffett’s company, Berkshire Hathaway, has underperformed the S&P 500. Shares in Berkshire Hathaway rose 2.41% in 2020 vs the S&P 500 index, which jumped 16.26%.
Read MoreThe Dow Jones closed up by 197 points or 0.7% to record highs. The S&P 500 index rose by 0.6% to record highs. And the Nasdaq index rose by 18 points or 0.1%.
Read MoreThanks to China’s rebounding economy, commodities ended 2020 on an upswing with standout performances by iron ore and copper. But what about 2021?
Read MoreA Jan. 4 meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, a group known as OPEC+, is set to boost output by 500,000 barrels per day in January.
Read More2020 saw the US dollar post its biggest yearly loss since 2017 and the Aussie dollar hit 33 month highs in one of its strongest performances in years. How do they look in 2021?
Read MoreOil prices might have finished 2020 on the up, but for the year as a whole it was a losing year – down more than 20% as the coronavirus depressed economic activity. What might 2021 hold for the sector?
Read MoreThanks to COVID-19, 2020 turned out to be a miserable year for the ASX, though the record amount of support from central banks here and offshore as well as the Federal and state governments financed the turnaround in sentiment and share prices in the final 9 months of the year.
Read MoreGood and bad news from Exxon with an improved revenue profile offset by huge write-downs. What will 2021 hold for the oil sector?
Read MoreSome signs of cooling in China’s huge manufacturing sector as it ended a chaotic 2020 in December, according to the first survey of activity for the month from the country’s National Statistics Bureau on New Year’s Eve.
Read MoreStruggling A2Milk has moved to complete the acquisition of a majority stake in rival Kiwi dairy group, Matura Valley Milk from a Chinese company that was first proposed in August. The purchase and subsequent investment in new plant will cost close to $A400 million.
Read More| World Overnight | |||
| SPI Overnight (Mar) | 6612.00 | + 47.00 | 0.72% |
| S&P ASX 200 | 6643.10 | + 43.50 | 0.66% |
| S&P500 | 3690.01 | + 2.75 | 0.07% |
| Nasdaq Comp | 12771.11 | – 36.80 | – 0.29% |
| DJIA | 30129.83 | + 114.32 | 0.38% |
| S&P500 VIX | 23.31 | – 0.92 | – 3.80% |
| US 10-year yield | 0.96 | + 0.04 | 4.03% |
| USD Index | 90.44 | – 0.26 | – 0.29% |
| FTSE100 | 6495.75 | + 42.59 | 0.66% |
| DAX30 | 13587.23 | + 169.12 | 1.26% |
Read More
BHP and Vale have just restarted their Samarco pellet joint venture, five years after a tailing dam collapsed sparked a major tragedy in 2015.
Read MoreThe World Steel Association reported a 6.6% rise in global output in November with China, Germany and Ukraine posting the largest increases. Australian production was unchanged at a reported 450,000 tonnes.
Read MoreGlobal iron ore prices dipped for a second day after futures prices in China and Singapore saw another day of big falls and data showed a strong jump in output
Read MoreFor the first time in two years, Australia’s goods trade surplus sank under the $2 billion level, according to the Australian Bureau of Statistics (ABS). And you can blame China for that fall – both on the export and the import side.
Read MoreA brief look at important company events and economic data releases over the next few weeks.
Read More| World Overnight | |||
| SPI Overnight (Mar) | 6617.00 | + 45.00 | 0.68% |
| S&P ASX 200 | 6599.60 | – 70.30 | – 1.05% |
| S&P500 | 3687.26 | – 7.66 | – 0.21% |
| Nasdaq Comp | 12807.92 | + 65.40 | 0.51% |
| DJIA | 30015.51 | – 200.94 | – 0.67% |
| S&P500 VIX | 24.23 | – 0.93 | – 3.70% |
| US 10-year yield | 0.92 | – 0.02 | – 2.44% |
| USD Index | 90.70 | + 0.63 | 0.70% |
| FTSE100 | 6453.16 | + 36.84 | 0.57% |
| DAX30 | 13418.11 | + 171.81 | 1.30% |
By Greg Peel
Read MoreIron ore prices fell more than 6% Tuesday after China’s Dalian Commodity Exchange tightened trading rules that restrict the opening of positions to 2,000 long or short futures contracts a day for non-brokerage members or clients.
Read MoreThe preliminary retail sales data for November on Tuesday helps explain why a number of retailers continue to provide larger than expected sales growth updates.
Read MoreBelieve it or not but the pandemic and the worst recession Australia has experienced in 90 years have not damaged Australia’s national finances (yet). In fact a glancing blow over two quarters might be the surprising conclusion from the latest data from the Australian Bureau of Statistics.
Read More| World Overnight | |||
| SPI Overnight (Mar) | 6586.00 | – 61.00 | – 0.92% |
| S&P ASX 200 | 6669.90 | – 5.60 | – 0.08% |
| S&P500 | 3694.92 | – 14.49 | – 0.39% |
| Nasdaq Comp | 12742.52 | – 13.12 | – 0.10% |
| DJIA | 30216.45 | + 37.40 | 0.12% |
| S&P500 VIX | 25.48 | + 3.91 | 18.13% |
| US 10-year yield | 0.94 | – 0.01 | – 0.74% |
| USD Index | 90.07 | + 0.05 | 0.06% |
| FTSE100 | 6416.32 | – 112.86 | – 1.73% |
| DAX30 | 13246.30 | – 384.21 | – 2.82% |
By Greg Peel
Read MoreNormally the Christmas-New Year period is a time for relaxation, eating, drinking, and not worrying too much about events in the wider world – unless its terrible bushfires here like last year or now the coronavirus which is back with a vengeance in the US, UK, much of the EU, parts of Asia and now parts of Sydney.
Read MoreIron ore is now trading at levels last seen in October 2011, near the heights of the biggest price boom of all while the benchmark three-month London Metal Exchange copper price has touched $US8,028 a tonne, its highest since February 2013.
Read MoreWhile the US Federal Reserve has maintained limits on capital management moves by major banks for the first quarter of 2021 it has given them more latitude to pay higher dividends or make buybacks in the first three months of 2021.
Read MoreThe Aussie market has suffered its sharpest decline in Dec as concerns grow of a COVID-19 cluster in Sydney’s Northern Beaches. Losses were rather widespread with the financial, IT & property sectors falling most.
Read More2021 looms and to many, it will be more of the same thanks to the arrival of COVID-19 vaccines, but that is pie in the sky thinking because the jab will replace the easy money over the next couple of years, and reality will return to markets.
Read MoreThe Aussie market is easing by 0.5% at lunch, as a coronavirus cluster on Sydney’s Northern Beaches drags travel stocks, shopping mall owners and banks lower.
Read MoreA brief look at important company events and economic data releases next week.
Read MoreThe key is that the Government has successfully protected the economy, and this has enabled it to rebound faster than if budget support had not been provided.
Read MoreAfter the almost unprecedented volatility for global equity markets in 2020, the big question is: What does 2021 hold in store? Ausbil Investment Management CEO and Head of Equities Paul Xiradis shares his thoughts on the subject.
Read More| World Overnight | |||
| SPI Overnight (Mar) | 6691.00 | – 1.00 | – 0.01% |
| S&P ASX 200 | 6756.70 | + 77.50 | 1.16% |
| S&P500 | 3722.48 | + 21.31 | 0.58% |
| Nasdaq Comp | 12764.75 | + 106.56 | 0.84% |
| DJIA | 30303.37 | + 148.83 | 0.49% |
| S&P500 VIX | 21.93 | – 0.57 | – 2.53% |
| US 10-year yield | 0.93 | + 0.01 | 1.09% |
| USD Index | 89.81 | – 0.43 | – 0.48% |
| FTSE100 | 6551.06 | – 19.85 | – 0.30% |
| DAX30 | 13667.25 | + 101.27 | 0.75% |
By Greg Peel
Read MoreUS stocks hit a record high with the S&P 500 lifting for a third day. Aussie shares set for a flat start with all eyes on the market’s reaction to the 17 case COVID cluster on Sydney’s Northern Beaches.
Read MoreThe buoyant mid-year economic update and solid November jobs data have added to the headache about the strength of the Aussie dollar at the Reserve Bank as we head towards the end of the year and the long summer break.
Read MoreASIC, the corporate regulator, has unveiled its hit list of issues for companies balancing their interim and full-year accounts on or around December 31.
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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. |
DOWNLOAD RESEARCH REPORT
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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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