Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses developments in investment markets over the past week, economic activity trackers, major global economic events and Australian economic events.
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Star Entertainment (ASX:SGR), the struggling Sydney-based casino group, seems to have a more positive future with the confirmation of a much-tipped CEO, Steve McCann.
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For the second time this month, Warren Buffett’s Berkshire Hathaway has cut its holding in Chinese EV and battery giant BYD.
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Australian shares declined, mirroring losses seen in European and American markets, as investors awaited the release of Australia's monthly CPI data. The upcoming inflation figures, anticipated to increase from 3.6 per cent to 3.8 per cent annually, are crucial amid global economic uncertainties.
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The Tesla Cybertruck EV costs around $100,000 USD and is a sales sluggard, according to data from the US government.
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Nvidia snapped a three day sell off and led the broader market higher as investors remain cautious ahead of key inflation data due out later this week.
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Buried in the production data from China’s National Bureau of Statistics for May were a couple of data points that tell different stories about the health of China’s huge steel industry, the most important business in that country so far as Australia is concerned.
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Volkswagen has sprung a major surprise by acquiring a $1 billion stake in the struggling U.S. EV maker Rivian, making the German giant the latest major company to partner with the smaller U.S. rival.
Read MoreNvidia snapped a three day sell off and led the broader market higher as investors remain cautious ahead of key inflation data due out later this week.
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Australian shares climbed across the board on Tuesday, with the S&P/ASX 200 Index rebounding 1.4%, its biggest one-day gain since mid-May, nearing its record high.
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Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses
Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses developments in investment markets over the past week, economic activity trackers, major global economic events and Australian economic events.
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Billionaire Czech businessman Pavel Tykac's plan to buy a controlling stake in Australian-US coal miner Coronado Global Resources has collapsed. His family investment group, Seven Global Investments (SGI), failed to secure approval from the Foreign Investment Review Board (FIRB) for the deal.
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Two weeks after issuing a downgrade, Alkane Resources (ASX:ALK) has followed through on a promise to release a new five-year development plan for its Tomingley gold mine in the central west of NSW, where it is also in the process of unearthing a series of massive copper ore bodies.
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EZZ Life Science Holdings (ASX:EZZ) has set its sights on the lucrative US market after securing regulatory clearance from the United States Food and Drug Administration (FDA) for nine of its products in the food category. This milestone marks a significant leap forward for the genomic life science company as it aims to capitalize on the robust demand for healthcare products in the US.
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Shares in the fast food chain operator Collins Foods (ASX:CKF) jumped 10% to $10.30 on Tuesday after the company lifted its dividend following a very solid revenue and earnings performance in its 2023-24 financial year.
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Australian shares surged shortly after trading began on Tuesday, following Wall Street's lead as equities approached all-time highs, despite Nvidia's continued decline.
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A snapshot of the stocks on the move, featuring Helix Resources (ASX:HLX), TMK Energy (ASX:TMK) and QX Resources (ASX:QXR).
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The Dow Jones outperformed the two other major indices as investors appeared to rotate out of tech and into financials and utilities, whilst the sell off in Nvidia gathered pace.
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How quickly the mighty fall, or a correction time for Nvidia so soon after reaching the top.
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Shares in online luxury goods seller Cettire (ASX:CTT) fell sharply on Monday after the company surprised investors with a downgrade. Upon closer inspection, it was revealed that the company had been selling goods at little to no profit in the final months of 2023-24.
Read MoreThe Dow Jones outperformed the two other major indices as investors appeared to rotate out of tech and into financials and utilities, whilst the sell off in Nvidia gathered pace.
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Star Entertainment (ASX:SGR) shares were down 7% at lunchtime Monday on the ASX after a pre-end-of-year trading update spelled out gloomy news for the embattled casino group and its banks.
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The final step in Solomon Lew’s slow campaign to regain control of Myer (ASX:MYR) – 35 years after his first attempt failed – has been set in motion with Myer issuing an offer to Lew’s Premier Investments to buy some of his retail chains.
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The Australian sharemarket experienced a decline on Monday, influenced by a series of disappointing company updates, leading to increased investor caution ahead of the upcoming monthly inflation report.
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Shares on Australia's S&P/ASX 200 Index declined at the opening bell due to concerns over potential inflation acceleration prompting the Reserve Bank to consider raising interest rates, contrasting global easing trends. Healthcare stocks, notably ResMed, suffered significant losses following disappointing trial results. Additionally, weakened commodity prices, including a decline in Singapore iron ore futures, impacted mining shares like BHP.
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A snapshot of the stocks on the move, featuring Encounter Resources (ASX:ENR), Myer Holdings (ASX:MYR) and Cleanaway Waste Management (ASX:CWY).
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Gold might have gained early on Friday, but like oil, it eased as the session went on. However, similar to oil, it is still heading into the final week of the second quarter and first half with notable gains.
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Oil prices might have had a good week, but American companies continue to chase productivity with another cut to active rig numbers last week.
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The broader market index drifted lower on Friday as the recent Nvidia led rally finally looks to have run out of momentum.
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The final week of the 2023-24 financial year, the second quarter of 2024, and the first half of the same year is approaching, so companies and investors are reviewing their books to ensure the best performance can be reported.
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Nvidia dragged Wall Street markets lower on Friday, but they still ended the week higher, albeit a bit stretched.
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Pilbara Minerals (ASX:PLS), the country’s largest independent lithium producer, reckons around $1.2 billion will double its lithium spodumene production capacity at its Pilgangoora mining operation in the Pilbara.
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Booming share prices for Australia’s big four banks – Commonwealth, NAB, ANZ, and Westpac – have saved investors from a miserable first half of 2024 and ensured the market performed better than inflation over the 2023-24 financial year, which ends next Sunday.
Read MoreThe broader market index drifts lower on Friday as the recent Nvidia led rally finally looks to have run out of momentum.
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Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses developments in investment markets over the past week, economic activity trackers, major global economic events and Australian economic events.
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Mike Dunbar – Managing Director & CEO – Emmerson Resources Limited (ASX:ERM) targets Australia's top exploration zones. They dominate 1,700km2 of the Tennant Creek Goldfield, NT, and 660km2 in NSW, spurred by Alkane Resources' Boda find.
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David Breeze – Managing Director and Executive Chairman – BPH Energy Limited (ASX:BPH) is a diversified company holding investments in biotechnology and resources. BPH holds a significant interest (36%) in unlisted oil and gas exploration company Advent Energy Ltd.
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Shanthar Pathmanathan – Managing Director – Chariot Corporation Limited (ASX:CC9) is a mineral exploration company focused on discovering and developing high-grade and near-surface lithium opportunities in the United States.
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Brad Lingo – Chairman – Pilot Energy Limited (ASX:PGY) is leveraging its existing oil and gas assets along with established infrastructure to develop competitive clean energy projects.
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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. |
DOWNLOAD RESEARCH REPORT
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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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