The ASX 200 has seen mixed trade so far on Thursday as investor weigh a host of company updates. At the same the Coronavirus continues to demand attention as forecast assess the economic fall out.
Read MoreMore red ink from Boeing overnight Wednesday with the jetliner maker reporting its first loss in more than two decades as it doubled the estimated cost of the 737 Max crisis to $US18.6 billion.
Read MoreSolid earnings results and an accommodative Fed were not enough to sustain an initial rally on Wall Street last night. Dow up 11.
Read MoreEarly gains fade as Coronavirus cast a shadow over sentiment.
Read MoreAs expected the US Federal Reserve held its benchmark interest rate steady on Wednesday, as the economy stayed on a moderate growth path.
Read MoreThe Aussie market rose by 0.5%, enough to recoup a third of Tuesday’s losses. Treasury Wine Estates was the main weight after warning of lower profits. Inflation picked up slightly and a rate cut next week is unlikely.
Read MoreReporting season for Australian companies is around the corner and following that is the reconstitution of RDV’s holdings. RDV’s underlying index is reconstituted twice a year in March and September. This timeline allows consensus forecasts (which feed into the underlying methodology) to be updated after companies report on earnings in February (half-year) and August (full-year).
Read MoreLocal shares have recovered from the biggest one day sell off this year. Consumer staples have been weighed down by 22% fall of Treasury Wine Estates (TWE) shares. Banks are providing the foundation for the days gains.
Read MoreA surprise from Apple and Warren Buffett and his Berkshire Hathaway will be happy as the tech giant revealed new records for both revenue and income in the holiday (December) first quarter.
Read MoreWall Street has rebounded as details regarding the coronavirus become clearer. Dow up 212.
Read MoreWith an hour of trade to go the Dow Jones index was up by 270 points or 1.0%. The S&P500 index was up by 1.2% and the Nasdaq index gained 140 points or 1.5%.
Read MoreThe ASX will steady and see a solid rebound at the start of trading today but gold stocks will be weak after prices fell in Tuesday’s rebound on Wall Street.
Read MoreMarkets sold off yesterday for a second day after the death toll from China’s coronavirus jumped to more than 100 with over 3,000 cases reported worldwide and hundreds more suspected.
Read MoreFurther evidence that the Australian economy is drifting towards a slow down or even recession – despite the continuing growth in the labour force.
Read MoreThe Australian share market followed the trend established by most global markets in the last day. The ASX 200 suffered its worst day of year to day.
Read MoreThe Australian sharemarket is in negative territory today with the concerns of impact from the Corona virus.
Read MoreThe US sharemarket is slumping for a second day as the coronavirus continues to spread. Travel stocks like airlines, travel agents, casinos and luxury brands remain under pressure.
Read MorePresident Xi Jinping has held a politburo meeting to fight the “accelerating” outbreak with deaths in China now more than 80 while nearly 3,000 cases have been reported around the world. Major cities are in travel lockdown with air travel banned across parts of China.
Read MoreWhile normally this week’s meeting of the US Federal Reserve would dominate markets and investor thoughts, the coronavirus crisis in China will grab all the attention investors this week and knock market sentiment.
Read MoreIn fact, this week is the first of the peak weeks for the current earnings season with over 100 S&P 500 companies due to report. Besides Apple tech giants Microsoft, Tesla Facebook and Amazon are also due to report, along with energy majors Chevron and Exxon Mobil and giant plane maker, Boeing.
Read MoreWatch the latest updates on China’s coronavirus whack the share prices of our major iron ore exporters – Rio Tinto, BHP and Fortescue Metals Group when ASX trading resumes later this morning.
Read MoreThe Aussie market has failed to hold onto earlier gains with the ASX 200 index finishing Friday’s session flat. The index rose 2.5pts or 0.04% at 7090.5 with banks and healthcare stocks pushing higher.
Read MoreThe Australian sharemarket is up by 0.3% at lunch; recouping around half Thursday’s losses as most sectors edge higher and the ASX 200 approaches all-time highs.
Read MoreAs markets approach this end of January period (like in 2018), the question becomes how justified are equity valuations at these levels. Can the US reporting season not only justify the current valuations but also provide scope for further gains – and immediately? I find it very difficult to see that to be the case.
Read MoreA brief look at important company events and economic data releases next week.
Read MoreSharemarkets in Europe and Asia retreated last night as Wall Street closed little changed.
Read MoreUS sharemarkets were mixed on Thursday. Key indices bounced from lows after the World Health Organisation said the Novel coronavirus didn’t yet constitute an international public health emergency.
Read MoreThe Australian sharemarket had its biggest tumble of the year so far following a better than anticipated update on jobs growth. This has reduced the chance of a February rate cut.
Read MoreThe ASX 200 has fallen to session lows following the surprise drop in the unemployment rate to 5.1%. The benchmark index is down 50pts or 0.7% at lunch with expectations lowered for an interest rate cut when the RBA meets in Feb.
Read MoreAirlie Portfolio Manager, Emma Fisher, discusses where the team sees value in 2020 and puts a spotlight on stocks including Mineral Resources, Suncorp and CSL. Emma also outlines where the fund is positioned in relation to the retail sector and in particular their holdings in Premier Investments and Nick Scali. With Westpac under pressure following the Austrac scandal, Emma discusses their view on Westpac and the bank industry as a whole.
Read MoreFNArena’s weekly update on short positions in the Australian share market.
Read MoreUS markets paused as the death toll from the coronavirus in China rises and with president Trump targeting Europe in Davos?
Read MoreUS sharemarkets eased on Wednesday. Investors monitored news of the spread of the Wuhan coronavirus in China.
Read MoreThe Aussie market has returned to its winning ways as it sets new record highs on what was broad based gains for the ASX 200. Every sector improved led by consumer staples as supermarket giants Coles (COL) and Woolworths (WOW) both jumped 3% or more.
Read MoreThe Australian sharemarket bounced back from a slow start and weak lead from Wall Street, hitting fresh record highs despite concerns of a potential coronavirus outbreak.
Read MoreNews of the coronavirus spreading inside China and elsewhere, including into Australia, unsettled financial markets overnight.
Read MoreUS sharemarkets eased on Tuesday. Investors focussed on news of the spread of a new coronavirus in China.
Read MoreThe Aussie market has fallen for the first time in six sessions with the ASX 200 dipping 13.2 points or 0.19% to 7066. Local shares managed to end off session lows to fall to only the third daily decline in 2020 so far.
Read MoreThe local market is losing ground for the first time in six sessions following a holiday in the US last night. January still marks the best month for our market since July 2016.
Read MoreAmerican investors were celebrating Martin Luther King last night while European markets closed slightly lower as the world’s elite gathers in Davos, Switzerland.
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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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