Shares jumped after US President Trump said that he will be discharged from hospital on Monday evening after being treated for COVID-19. The Dow Jones index rose by 465 points or 1.7%. The S&P500 index gained 1.8% and the Nasdaq index climbed 2.3%.
Read MoreIs the president’s apparently rapid recovery indicative of the medical advancement in the battle against covid? Dow up 465.
Read MoreWall Street bounced higher on Monday, recovering from last Friday’s slide, as investors talked up the chances of more stimulus spending and news that President Donald Trump will leave the hospital where he is being treated for coronavirus.
Read MoreOn the eve of the tonight’s delayed 2020-21 federal budget and a key Reserve Bank monetary policy board meeting this morning, the National Australia Bank’s monthly survey of Australian business conditions and confidence has shown another improvement as the economy staggers back towards pre-COVID-levels.
Read MoreA big, big week in Australia (see separate story), a big, big week in the US with President Trump’s COVID-19 infection and more cases hitting his re-election teams and markets suddenly more jumpy than they have been in the past month, when they weakened on fears of COVID -19 and a sagging pace of recovery from the slump.
Read MoreThe delayed 2020-21 budget is expected to be big on spending and economic reforms but light on issues that might be too divisive politically and deflect the thrust of fiscal policy to support demand in the economy and start the reduction in the level of unemployment.
Read MoreUpbeat investors sent ASX 200 futures higher on Friday night despite Wall Street weakening on the news President Trump and his wife had tested positive to COVID-19.
Read MoreThe Australian sharemarket slumped by 1.4% Friday on news that President Trump and the First Lady tested positive for COVID-19. Worst week since mid-April for local stocks.
Read MoreThe Australian sharemarket has wiped out most of Thursday’s gains, with the ASX 200 down by 0.9%. Losses from miners, healthcare stocks and banks are weighing most.
Read MoreThe US election has significant potential to add to volatility in investment markets. A Trump victory will mean more of the same and would likely initially be more positive for US than global and Australian shares. By contrast a Biden victory may add to short-term volatility but this is likely to be short-lived as there is no reason to expect a weaker economy and hence share market under a Biden presidency and he is likely to take a less disruptive approach to trade and foreign policy.
Read MorePelosi and Mnuchin have again failed to reach a deal on a second round of US stimulus, having held a meeting on Wednesday and two on Thursday. But fear not, talks will continue.
Read MoreShares fluctuated as the White House countered House Democrats’ US$2.2 trillion fiscal stimulus package with a US$1.5 trillion-plus proposal, to include a US$20 billion aid extension for airlines.
Read MoreTalks are continuing in Washington, but there’s still no breakthrough on a stimulus package. Dow up 35.
Read MoreThe ASX is heading for a nasty loss at the opening this morning after Wall Street bounced and bumped its way lower. In fact trading on Wall Street ran out of puff – for the Dow and S&P 500 at least while the tech-heavy Nasdaq notched up a solid but unconvincing gain.
Read MoreJust as Wednesday’s 5% jump in iron ore prices surprised commodity investors, especially in Australia, how will they view a sharp fall in copper on Thursday that came out of the blue?
Read MoreAmerica’s big banks obviously can’t be trusted not to waste valuable capital in the time of the coronavirus pandemic with the US Fed extending its ban on buybacks and curbs on dividends from September 30 until December 31.
Read MoreThe Australian sharemarket rose by 1% on Thursday, with all sectors and eight in every 10 companies lifting following a more significant 2.3% tumble on Wednesday.
Read MoreThe Australian sharemarket is lifting by 1.3% at lunch, following a more significant 2.3% slump on Wednesday. While all sectors are lifting, mining companies are standing out thanks to firmer commodity prices.
Read MoreInvestors were encouraged by firm economic data. Also Treasury Secretary Steven Mnuchin said he thought Democrats and Republicans could “reach a reasonable compromise” on a new stimulus bill. Shares in Moderna rose 0.3% after earlier being up 3.1% after it said that its trial COVID-19 vaccine produced encouraging results. The Dow Jones index rose by 329 points or 1.2% after earlier being up by 573 points. The S&P500 index was higher by 0.8% and the Nasdaq index rose by 82 points or 0.7%.
Read MoreThe “debate” was a hot topic last night but more importantly the stimulus situation remains fluid as phase one expires. Dow up 329.
Read MoreWall Street ended September and the quarter higher on the day, lower on the month, but with solid gains for the three months and will look to try and start afresh today.
Read MoreWednesday’s slide took the ASX’s monthly loss for September to 4% and not only ended the big rally from the depths of the COVID-19 slump in late March but ushered in the start of what will be a grinding bear market.
Read MoreThe Australian sharemarket slumped by 2.3% on Wednesday, which was more than enough to push the local bourse lower in September and the past quarter. Stocks slumped following a chaotic US Presidential debate.
Read MoreThe Australian sharemarket is down by around 1% at lunch, wrapping up what has been an uninspiring month and quarter for local stocks. All sectors are in the red.
Read MoreThe Big Debate, a jobs number ahead, and rising case-count concern had Wall Street pulling back again last night. Dow down -131.
Read MoreInvestors await the first presidential debate. Energy and financials fell the most. Investors also looked to square positions near the end of the quarter.
Read MoreGold bounced back to the $US1,900 an ounce level, US oil futures dropped under $US40 a barrel as other commodities fell while Wall Street eased, setting up a weak start for the ASX this morning.
Read MoreAmerica’s biggest bank, JPMorgan Chase has agreed to pay more than $US920 million ($1.29 billion) to resolve US regulators’ authorities’ claims of market manipulation in the bank’s trading of metals futures and Treasury securities over an eight-year period.
Read MoreThe Australian sharemarket finished flat on Tuesday, after hitting a three-week high this morning and lifting by as much as 0.75%. Local stocks remain on track to decline in September.
Read MoreScott Kelly, Manager of DNR Capital’s Australian Equities Income Portfolio, gives us an update on the fund and his outlook for the oncoming months.
Read MoreThe Aussie market is trading slightly higher at lunch on Tuesday. The ASX 200 was closing in on 6,000pts at its earlier highs but has since faded to smaller gains with weakness from banks, miners and supermarket giants weighing heavily.
Read MorePelosi believes she can reach a stimulus agreement with the White House, which is good enough for Wall Street. Dow up 410.
Read MoreThere were hopes for a new deal on fiscal stimulus and several corporate deals being struck. Devon Energy (+11.3%) said it would buy peer WPX Energy (+16.4%) for US$2.56 billion. Caesars Entertainment (+2%) disclosed a cash offer to buy London-based William Hill for £2.9 billion.
Read MoreUnlike Monday when the ASX wandered too and fro – from green to red and back to finish down for the session, the local market should be up all day Tuesday after Wall Street ended with a solid start to the final days of September.
Read MoreWeaker prices for iron ore and LNG will be the major drivers of a sharp fall in the value of Australian resource exports in 20120-21. According to the forecasts from the chief economist of the Federal Department of Industry, the value of resource exports will be $34 billion down on the record $290.4 billion exported in 2019-20.
Read MoreLocal shares have started the week on the back foot with the ASX 200 slipping 12.6pts or 0.2% on Monday. Banking stocks pulled back after a strong rally on Friday while the major mining names also ended lower. The day’s standouts belonged to tech and travel stocks with the likes of Qantas (QAAN) and Webjet (WEB) up 6.5%.
Read MoreThe Aussie market is edging higher to start the new week with the ASX 200 overcoming a softer open to lift 0.1% around midday. Tech & travel stocks are among the standout performers while financials and infant formula maker The a2 Milk Company (A2M) are the main drags.
Read MoreCatch up on the full webinar with presentations from Firefly Resources (ASX: FFR), Betmakers Technology Group (ASX: BET), Hazer Group (ASX: HZR), and Rox Resources (ASX: RXL).
Read MoreThere were signs that US lawmakers were making progress on a reported US$2.4 trillion stimulus package that could be voted on next week.
Read MoreTechnology stocks again rescued Wall Street on Friday, lifting the main indexes by more than 1%, but that wasn’t enough to prevent the Dow and the S&P 500 from suffering their longest weekly losing streaks in a 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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