Retail giant Woolworths is anticipating a statutory loss for the six months ending December. The supermarket group informed the ASX on Monday of impairments totaling nearly $A1.7 billion in its New Zealand supermarkets business and the accounting treatment for its remaining 9.1% stake in the Endeavour booze and hotels spin-off.
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China's securities regulator announces a complete suspension of restricted shares lending effective today (Monday), in response to the recent sharp decline in Chinese shares, particularly last Monday.
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The S&P 500 closed slightly lower Friday, but clinched weekly gains as the latest economic data added to a positive picture of the economy.
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A year ago, expectations for the performance of the US economy in 2023 were uniformly negative: a slowdown or recession, a surge in jobless numbers, weak earnings, and worse were predicted.
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Netflix stunned; Tesla shocked. Now it's Alphabet, Amazon, Apple, Meta, and Microsoft's turn to perform for investors as the US earnings season reaches its climax in the next five days.
Read MoreThe S&P 500 closed slightly lower Friday, but clinched weekly gains as the latest economic data added to a positive picture of the economy.
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Wall Street capped off a successful week on Friday, marking its 12th winning week out of the last 13, as investors eagerly anticipated the Federal Reserve's upcoming decision and Chair Jay Powell's remarks. While the market closely watched the central bank, it was the quarterly reports from tech giants Apple, Microsoft, Amazon, Meta, and Alphabet that stole the spotlight, potentially overshadowing the Fed's impact.
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Will the Fed and five major quarterly results this week ruin the market tea party in the wake of yet another week of records on Wall Street, in Europe, and Japan?
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Oil had a better week, iron ore bounced, copper rose, and coal eased as commodities steadied on hopes that China’s attempts to stop the economic rot would work.
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Fortescue Metals' (ASX:FMG) troubled Iron Bridge export magnetite iron ore mine in WA's Pilbara continues to cause problems and is nowhere near planned capacity at this stage.
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Shares in Domino's Pizza plunged by as much as 30% on Thursday morning after the company withdrew its guidance. This decision followed the revelation that sales in Asia, a major area of operations, were down by 8.9% in the six months leading up to December, compared to the same period in 2022.
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Australian shares opened higher with a significant boost from iron ore miners BHP, Rio Tinto, and Fortescue, all of which saw gains exceeding 1 percent, driving up the overall market index.
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A snapshot of the stocks on the move, featuring EV Resources (ASX:EVR), Antilles Gold (ASX:AAU, OTCQB:ANTMF) and Respiri (ASX: RSH; OTCQB: RSHUF).
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Fortescue Metals Group (ASX:FMG) revealed a small 1.4% fall in second-quarter iron ore shipments due to ongoing maintenance activities at some of its key projects in Western Australia’s Pilbara.
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The results of a new round of drilling have prompted Westgold (ASX:WGX) to seriously consider expanding its Bluebird gold mine in the Meekatharra region of WA's northern goldfields.
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Tesla's price cuts in China, the US, and Europe resulted in a 35% earnings slump in 2023, reducing profits to $8.89 billion, and impacting the company's operating margins.
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No interest rate relief this week or last from the People’s Bank of China, but the country’s central bank rolled out a second-best move: a cut in the reserve ratio for the country’s banks from early next month.
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The biggest shareholder in Australian Agricultural Co, 86-year-old Joe Lewis, who holds a 52% stake in Aust Ag through his company, Tavistock Group, has been convicted of insider trading by a US court. Lewis, who also revealed the purchase of another 6 million shares in the beef producer midway through 2023, pleaded guilty in a New York federal court to securities fraud related to insider trading.
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The S&P 500 rose Wednesday as a number of big tech stocks rallied, pushing the broader market to new heights.
Read MoreThe S&P 500 rose Wednesday as a number of big tech stocks rallied, pushing the broader market to new heights.
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Pilbara Minerals (ASX:PLS) has warned investors not to expect an interim dividend as it grapples with the slide in lithium prices that has seen the value of its spodumene production slashed by up to 80%.
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Fund Manager Chris Pedersen discusses the 'Magnificent Seven' tech giants, and dives deeper into three companies: Lynas Rare Earths (ASX:LYC), NextDC (ASX:NXT) and IDP Education (ASX:IEL).
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Australian shares experienced a subdued session, with the S&P/ASX 200 index edging up 0.1 percent, driven by a rally in the mining and utilities sectors, while health sector stocks, notably Nanosonics, saw significant declines.
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Investment expert Winston Sammut discusses recent M&A activity in the property sector, analyzing BWP Trust's bid for Newmarket and Aspen's offer for Eureka Holdings. Sammut shares insights on deal rationale, pricing concerns, and potential market implications.
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Woodside Energy (ASX:WDS) is optimistic about a modest increase in revenue this year following a 2023 shortfall in turnover, primarily due to weaker gas and oil prices.
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Bunnings landlord, BWP (ASX:BWP), is set to acquire its smaller rival, Newmark Property (ASX:NPR), in a $247 million deal, exceeding Newmark's Tuesday valuation by over 40%.
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Australian shares saw an extension of gains during the opening session, buoyed by the S&P 500 achieving its third consecutive record high. This development coincided with mixed quarterly reports preceding the "Magnificent 7" group of megacap companies.
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A snapshot of the stocks on the move, featuring Newmark Property REIT (ASX:NPR), Harvest Technology Group (ASX:HTG) and NickelSearch (ASX:NIS).
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icetana Limited (ASX: ICE), a leading artificial intelligence video analytics software company that aids security and IT teams in managing large-scale surveillance networks, has released its quarterly report for the period ending December 31, 2023 (Q2 FY24). The company reported significant achievements and robust growth during the quarter.
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Netflix is set to propel Wall Street higher when trading resumes on Wednesday, following the streaming giant's remarkable performance in adding more subscribers than anticipated for the three months ending in December 2023.
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The Dow Jones Industrial Average fell Tuesday, pulling back from record-breaking highs as traders pored through the latest batch of corporate earnings.
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The sell-off in Chinese shares slowed on Tuesday, and Hong Kong bounced back after the government contemplated a well-leaked proposal for a massive share-buying scheme.
Read MoreThe Dow Jones Industrial Average fell Tuesday, pulling back from record-breaking highs as traders pored through the latest batch of corporate earnings.
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The Australian sharemarket extended its longest winning streak of the year as the S&P/ASX 200 index rose 0.5% to 7514.9, driven by gains in healthcare and financial sectors following a Wall Street rally that pushed the S&P 500 to a new high.
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In a bid to capitalise on the surging demand for critical metals, Elementos (ASX:ELT) is making significant strides with its two development assets in highly regulated mining jurisdictions in Andalucía, Spain, and Tasmania, Australia. The company is strategically positioned to exploit the growing global electronics industry and address the impending supply shortfall of tin in electronic solder.
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Prices for Australian lithium are set to face further downward pressure, and the competition from Chinese miners is expected to intensify, according to a recent analysis by commodity price forecaster Wood Mackenzie.
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In a surprise announcement, small explorer Magmatic Resources is revisiting its Myall copper gold prospect in the NSW Central West, near Alkane, Evolution, and Newmont/Newcrest's significant mines and prospects. The company believes it had initially misinterpreted the results from a 22-hole drilling campaign.
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Economic activity slowed over the Christmas-New Year break, according to the first business survey from the National Australia Bank, released on Tuesday. However, business confidence improved, especially in retail, as the Black Friday sales seemed to work a bout of magic.
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The likelihood of BHP (ASX:BHP) being compelled to impair the value of its Nickel West business and potentially consider its closure has increased. This development comes after the mining company confirmed the necessity of placing a crucial plant component on a care and maintenance basis.
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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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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 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 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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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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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 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 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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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 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 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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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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