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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A snapshot of the stocks on the move, featuring Tamboran Resources (ASX:TBN), Adbri (ASX:ABC) and Cauldron Energy (ASX:CXU).
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Online American shoppers are finding what they think are bargains at Costco, America's big-box retail discount club: gold. The retail warehousing giant says customers snapped up more than $100 million of the precious metal in the quarter ending November 26.
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China isn't frightened by high or weak gold prices, as its buying this year has once again confirmed.
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Oil prices increased after experiencing their first weekly gain since late October due to major shipping lines suspending transit through the Red Sea, which highlighted the potential risk to the crucial artery for global crude trade.
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Japanese financial services company Mitsubishi UFJ Financial Group (MUFG) is making its fifth attempt to take over the troubled Link Administration Holdings, this time through its subsidiary, The Trust Bank.
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The Dow Jones Industrial Average closed higher Friday after a whipsaw session, where it marked a fresh intraday record, and the tech-heavy Nasdaq-100 set a record close.
Read MoreThe Dow Jones Industrial Average closed higher Friday after a whipsaw session, where it marked a fresh intraday record, and the tech-heavy Nasdaq-100 set a record close.
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As the world eagerly anticipates Santa Claus' arrival in just one week, investors are already feeling the effects of a significant financial event: the recent rate cut decision by the Federal Reserve. This move is set to dominate headlines not only this week but also as we transition into early 2024, amid the post-holiday hangovers and renewed commitment to New Year diets.
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Oil prices settled lower on Friday but rose slightly for the week due to a weaker dollar and an improved 2024 demand outlook after weeks of losses.
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Last week's sharp rise in the ASX200 looks set to be short-circuited today after the share price futures market dropped 74 points on Friday night.
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Winston Sammut, the Director Property of Euree Asset Management, gives his weekly take on the REITs sector.
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Overnight, the Dow Jones Index reached a new record high, closing at 37,248 points with a 0.4% gain, while the Nasdaq Index increased by 0.2%, and the Russell 2000 small-cap index continued its recent rally, surging by 2.6%.
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A snapshot of the stocks on the move, featuring Tamboran Resources (ASX:TBN), Allkem Limited (ASX:AKE) and Global Uranium and Enrichment (ASX:GUE).
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The Dow Jones Industrial Average edged higher on Thursday a day after closing above 37,000 for the first time ever as the 10-year Treasury tumbled below 4 per cent and a surprise gain in retail sales gave investors further confidence 2024 would bring a soft economic landing.
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US consumers reopened their wallets and dusted off their credit cards last month as retail sales increased by a stronger-than-forecast 0.3%. In fact, November's rise, following October's 0.2% fall, surprised most economists who had predicted another slide of 0.1%.
Read MoreThe Dow Jones Industrial Average edged higher on Thursday a day after closing above 37,000 for the first time ever as the 10-year Treasury tumbled below 4% and a surprise gain in retail sales gave investors further confidence 2024 would bring a soft economic landing.
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Australian unemployment rose to an 18-month high of 3.9%, according to the latest labor force report from the Australian Bureau of Statistics on Thursday. However, focusing solely on that figure, as some reports did, was highly misleading.
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As we near the end of a volatile macroeconomic year, we look at some of the interesting trends in global real estate and consider what's to come.
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In November, Australian employment grew by 61,500 jobs, causing the unemployment rate to rise slightly to 3.9% from the previous month's 3.8%.
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A snapshot of the stocks on the move, featuring Alkane Resources (ASX:ALK), QX Resources Limited (ASX:QXR) and Buxton Resources (ASX:BUX).
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In its second decision on Thursday regarding a significant acquisition, the ACCC has announced its approval of Viva Energy's proposed acquisition of the convenience store chain, OTR Group. The decision comes after the Commission accepted a court-enforceable undertaking from Viva Energy, committing to divest 25 Coles Express sites in South Australia.
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Another $US3 trillion day for Apple as the rate cut frenzy on Wall Street pushed the iPhone maker’s shares close to a record $200.
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Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses the Federal Government's Mid-Year Economic and Fiscal Outlook.
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The Dow Jones industrial Average jumped to a record Wednesday as the Federal Reserve signalled it would cut rates several times next year, satisfying investors who hoped the central bank would finally start to acknowledge the slowing trend of inflation with a less-aggressive monetary stance.
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Cauldron Energy (ASX:CXU) has released the results of its Scoping Study for the proposed Bennet Well Uranium operation, revealing the potential for a globally competitive and low-cost in-situ recovery (ISR) uranium operation. The Bennet Well Uranium Deposit is situated approximately 100 kilometers south of Onslow, Western Australia, and about 1,050 kilometers north of Perth.
Read MoreThe Dow Jones industrial Average jumped to a record Wednesday as the Federal Reserve signalled it would cut rates several times next year, satisfying investors who hoped the central bank would finally start to acknowledge the slowing trend of inflation with a less-aggressive monetary stance.
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Australia's sharemarket experienced mixed performance as healthcare and iron ore stocks rose while the energy sector declined due to a 3.5% drop in benchmark oil prices.
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The way iron ore prices continue to trade above $US130 a tonne, there is every chance the 2023-24 budget will be in surplus by June 30 next year after a sharp improvement in the mid-year economic update.
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China's leaders have once again demonstrated their lack of clarity regarding the policies needed to steer the country's economy away from the tightening grip of deflation, weak demand, and uncertain confidence.
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A snapshot of the stocks on the move, featuring Patrys (ASX:PAB), Leeuwin Metals (ASX:LM1) and American West Metals (ASX:AW1).
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Wall Street closed at a 52-week high as traders celebrated a decrease in core US inflation to 4 percent year-on-year in November, excluding food and energy prices.
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Chilwa Minerals Limited (ASX:CHW) Managing Director Cadell Buss discusses surprising drilling results and outlines future exploration plans.
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Air New Zealand (ASX:AIZ) has adjusted its first-half earnings guidance due to persistent demand weakness, as softer leisure travel compounds the weaker domestic corporate and government trends.
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Stocks were higher on Tuesday as Wall Street parsed through another round of inflation data in search for clues on when the Federal Reserve could start easing monetary policy.
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A special webinar with global advisory and investment company RFC Ambrian, co-hosted by Steve Promnitz, the Managing Director of QX Resources.
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As expected, the improvement in US consumer inflation slowed in November, with the annual rate dipping to 3.1% from 3.2% after a 0.1% rise in the month.
Read MoreStocks were higher on Tuesday as Wall Street parsed through another round of inflation data in search for clues on when the Federal Reserve could start easing monetary policy.
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Rio Tinto has named Elias Scafidas as the new managing director of its battery materials division, effective early 2024, succeeding Marnie Finlayson, who recently concluded her tenure and is on extended leave.
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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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