The Reserve Bank of Australia raised the official cash rate to the highest level in 12 years, just as retailers were hopeful about increased spending ahead of the festive season, impacting their sales during the Black Friday/Cyber Monday promotions.
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A snapshot of the stocks on the move, featuring Sunstone Metals (ASX:STM), Immutep (ASX:IMM, NASDAQ:IMMP), European Metals Holdings (ASX:EMH & AIM:EMH) and QX Resources (ASX:QXR).
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Australian stocks are building on their early gains as Thursday's trading session unfolds, displaying resilience in the face of a turbulent Wall Street session marred by worries about the worldwide economic outlook and interest rate fluctuations.
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The S&P 500 gained for an eighth consecutive day on Wednesday, extending its longest win streak in two years. While upcoming inflation and economic prints are likely to factor into equity gains from here, data continues to signal that the economy is slowing but not falling off a cliff.
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Global oil prices dropped to new three-month plus lows on Wednesday. Fears related to the Israel-Hamas conflict in the Middle East took a backseat to concerns about the strength of demand in 2024, particularly from US car drivers. This marked the third consecutive daily decline for the prices of the world's two major marker crudes, West Texas Intermediate and Brent.
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Chinese insurer Ping An has denied any intentions to acquire the troubled property group, Country Garden. This denial comes in response to a lengthy Reuters report that claimed the Chinese government had requested Ping An to lead the rescue efforts for the country's second-largest developer.
Read MoreThe S&P 500 slips on Wednesday, attempting to extend its longest winning streak in about two years.
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The latest data on China’s foreign exchange reserves, issued late last week, showed the country bought a further 23 tonnes of the metal in October, marking the 12th successive month of active gold purchases.
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On Wednesday, the Australian stock market experienced a slight upward movement, driven by robust advancements in the technology sector, which counterbalanced a downturn in the mining industry heavyweights.
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Fund Manager Chris Pedersen discusses the RBA's rate hike, inflation, banks, dividend growth stocks, Sonic Healthcare, Transurban Group and Cochlear.
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Oil prices dropped to a three-month low, with Brent falling towards $81 a barrel, due to concerns over declining US gasoline consumption and a deteriorating demand outlook.
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The Australian sharemarket is higher at noon, influenced by mixed factors including flat performance on Wall Street and weaker-than-expected Chinese data impacting commodity prices.
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A snapshot of the stocks on the move, featuring Golden State Mining (ASX:GSM), New World Resources (ASX:NWC), Boab Metals (ASX:BML) and Neometals (ASX:NMT & AIM:NMT).
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Hatch Managing Director of Australia and Asia Jan Kwak discusses key commodities, geographical opportunities, innovation, applying the circular economic model to mining, and the process of producing feasibility studies.
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In October, China's major commodity import data confirmed the uneven growth across its economy, even as the International Monetary Fund (IMF) upgraded its forecast for Chinese GDP growth to 5.4% for the year, up from the previous 5% estimate. The IMF attributed this improvement to recent measures to stimulate demand and support the property sector, which is expected to help the economy in the final months of the year.
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Here's another market factoid for our inflation hawks in the Reserve Bank and Governor Michell Bullock to ponder and ignore as they shelter from the storm of criticism after Tuesday's rate rise.
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James Hardie (ASX:JHX), the world's largest fiber cement maker, reported a modest 2% increase in second-quarter earnings, reaching an all-time high, as it focused on conserving cash flows for the upcoming year through higher prices and cost reductions.
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Anax Metals (ASX:ANX) CEO, Geoff Laing, discusses the company's flagship Whim Creek Copper Hub, emphasizing its innovative approach and rapid path to production. The conversation delves into scalability, lithium exploration potential, and strategic partnerships, offering insights into Anax Metals' ambitious vision for resource development and polymetallic ventures.
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The S&P 500 and Nasdaq Composite rose on Tuesday to notch their longest winning streaks in nearly two years and build on November’s rally.
Read MoreThe S&P 500 rose Tuesday, putting the broad-based index on pace for its longest winning streak in roughly two years as Wall Street looked to build on November’s rally.
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Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses the cash rate.
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In October 2023, China's foreign trade exhibited mixed results: exports declined more than expected, while imports showed a slight improvement after nine months of decline.
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As expected, the Reserve Bank has failed to hold its nerve and lifted its cash rate by 0.25% to 4.35%.
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Local investors are closely watching the Reserve Bank's policy statement scheduled for 2.30 pm (AEDT). It is anticipated that policymakers will decide on a 0.25 percentage point hike in the cash rate target, bringing it to 4.35 percent. You can find a preview by clicking here.
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A snapshot of the stocks on the move, featuring True North Copper (ASX:TNC), Centrex (ASX:CXM) and Eclipse Metals (ASX:EPM | FSE: 9EU).
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Newly appointed Lincoln Minerals (ASX:LML) CEO Jonathon Trewartha discusses their focus on developing the Kookaburra Gully Graphite Project in South Australia. He highlights plans to expand the resource through drilling, aiming for a 10-year mine life, and addresses the company's response to global market changes impacting graphite production.
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Elementos Limited (ASX:ELT) Managing Director Joe David provides an update on the company's tin projects in Tasmania and Spain.
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Stocks eked out narrow gains Monday to build on last week’s strong rally, with the Nasdaq Composite notching its longest positive streak since January.
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Nearly 40 years after its inception, Europe's mega low-cost airline, Ryanair, is set to pay its shareholders a regular, first-time ordinary dividend and has announced plans to continue doing so annually, depending on market conditions.
Read MoreStocks are little changed on Monday as Wall Street struggled to maintain its momentum from last week’s strong rally.
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AustralianSuper has moved closer to constructing a blocking stake against the proposed $20 billion takeover offer for Origin Energy (ASX:ORG) from Brookfield of Canada and the smaller EIF group of the US.
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The ASX experienced a subdued Monday session, with its benchmark index nearing 7000 points for the first time in over two weeks, anticipating the Reserve Bank's impending cash rate decision.
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Australia's S&P/ASX 200 index briefly exceeded 7,000 points for the first time in over two weeks…
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Shares in Red 5 (ASX:RED) jumped to a 52-week high of 33 cents yesterday after the company's annual meeting heard an update forecast from the new chair, Russell Clark.
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Last week marked a potential high point for BYD, the world's largest producer of electrified vehicles, both battery and plug-in EVs, which may also signify a peak for the global EV and lithium industries.
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Westpac has announced a final dividend of 72 cents per share, up from 64 cents per share the previous year.
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Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses investment markets, Australian economic events, population growth and housing finance.
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The Australian sharemarket began the week with a slight upward movement, as investors remained watchful for the Reserve Bank's cash rate decision scheduled for Tuesday, with both bond and equity traders exercising caution in their approach.
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A snapshot of the stocks on the move, featuring Whispir (ASX:WSP), QX Resources (ASX:QXR), Immutep (ASX:IMM) and Magnis Energy Technologies (ASX:MNS).
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Stocks rose Friday after a soft jobs report drove bond yields lower, and the major averages registered their best week in 2023.
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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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