The Good Morning Report

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. European Natural GAS futures spiked 20% on the back of potential strike action in Australia by Woodside and Chevron workers....That just demonstrates how skittish the market is....Also interesting to note that EU GAS STORAGE facilities are 90% full....but WINTER is coming.

2. Star Group (SGR) fell to a fresh all time low of $0.95 as the AFR reported that banks are not interested in refinancing any of its $1.3bn debt pile; they are now forced to engage alternative sources of funding from the likes of Soul Patts and Oaktree. This will mean significantly higher interest rates. I maintain my AVOID - still too much risk for my liking, plus we don't know the size of the pending AUSTRAC fine.

3. The beaten up Charter Hall Long Wale REIT (CLW) is looking cheap on paper with the stock falling down to $3.65 Vs a stated NTA of $5.63...however....I have my concerns over the valuation of their property portfolio, so I'm maintaining an AVOID for the time being.

4. Bank of England (BOE) warned that FOOD inflation is not going to fall anytime preferred exposures to agriculture/food are: AAC, GNC, BGA, CGC, IPL, NUF + FOOD ETF.

5. Wholesale extra virgin OLIVE OIL prices surged to an all time high of $8500 per ton.

ASX Market Update

ASX 200 up 26 points to 7338

CBA reported it's full profit of $10.16bn which came in around expectations. The market did push the stock 2.58% higher, probably thanks to a $1bn share buyback. (In my view they should be buying GOLD to stick on the balance sheet and not buying back expensive shares!). Below is a bit of commentary from the CEO who nicely got an inflation busting 50% pay rise; tough economic times have definitely arrived for the average Aussie and small business owners...

"The Australian economy has been resilient with the tailwinds of a recovery in population growth, relatively high commodity prices and low unemployment," CEO Matt Comyn said.

"However there are signs of downside risks building as rising interest rates have a lagged impact on mortgage customers and other cost of living pressures become a financial strain for more Australians."

"We are closely monitoring the impact of reduced discretionary spend, particularly on our small- and medium-sized business customers," he said.

Random Observation


"So ladies, for that magnificent king size water bed you have both been dreaming about....what price is olive oil going to hit?"

The Day Ahead

  • Our SPI is up 7 points
  • Bitcoin down 1% to $29,535

Movements affecting our resource stocks today (USD)

  • BHP in the US up 0.4%
  • Newmont up 0.11%
  • Gold down 0.5% to $1950
  • Paper Silver down 0.18% to $22.76
  • Platinum down 1% to $894
  • Copper up 0.65% to $3.79
  • Brent Crude up 1.46% to $87.43
  • Iron ore up 1.4% to $105.50

Asian Market Update

Japan down 0.53%, China off 0.49%, Hong Kong up 0.32%

While the financial press has been full to the brim with negative news on the Chinese economy - this was overlooked....

Global Market Update

US Market

DOW down 191 points to 35,123

Former market darling WeWork, crashed 38% after management saying the office sharing business is likely to go bust....

WeWork was one of the greatest Wall Street PUMP 'N DUMP schemes of all time!

European Markets

Germans up 0.49%, Brits added 0.8% and Frenchies put on 0.72%

European markets laughed off the 20% surge in NATURAL GAS prices overnight as traders piled back into stocks....I must admit I was a bit surprised by the surge higher considering EU's GAS STORAGE facilities are almost full....but... the onset of an early COLD winter could put all sorts of strains on the system.

Key Market Summary

General Advice Warning
The information provided in this post is general information only. Unless otherwise stated the information is not designed for the purpose of providing personal, financial or investment advice. Any examples are presented for illustration purposes and past performance is not a reliable indicator of future performance. The information provided does not take into account your particular investment objectives, financial situation or investment needs.

Without limiting the generality of the above paragraph no person, persons or organisation should invest monies or take action on the reliance of the material contained in this post, but instead should satisfy themselves independently (whether by expert advice or otherwise) of the appropriateness of any such action. Unless otherwise stated the information presented is not a recommendation to invest in any investments, securities or financial products.

This service, like all other financial services, is subject to market forces and unpredictable events that may adversely affect its future performance. Whilst all care has been taken in compiling information in this post, and is provided in good faith, it is not to be relied upon as a substitute for professional advice. The views expressed are commentary only and the writer accepts no responsibility for the accuracy, completeness or timeliness of the information.

Super Equity Pty Ltd ACN 609 373 202 is a Corporate Authorised Representative 001238425 of ANDIKA Pty Ltd AFSL 297069. It should also be noted that references and hyperlinks to any third party information (including, but not limited to: news articles, blogs, reports, videos or other mediums of information) is not an endorsement of that party or product.

Stephen Hall
Stephen Hall
September 21, 2023.
Tracy & Adrian's knowledge/experience with financial markets, greater global & domestic political/economic impacts & individual companies/stocks is not just unique & refreshing, but also gives great peace of mind. Having a team this capable taking care of your hard earned to help avoid knowable negative impacts, and/or take advantage of opportunities well ahead of time is like nothing I've experienced before. Could not recommend highly enough. Subscribe to Adrian's newsletter too if you want a no B.S. commentary that is unlike the sanitised drivel coming from mainstream financial reporting.
jeff allott
jeff allott
June 22, 2023.
Sound knowledgeable and friendly service with advise tailored to my requirements
Natalie Gaby
Natalie Gaby
January 12, 2023.
I highly recommend Super Equity to anyone needing assistance or guidance with their Super. Tracy was very thorough and clearly explained how Super works and why she made particular recommendations for us. Her (and the team's) customer service is outstanding with being very personalised, and we look forward to a long working relationship with them.
Charlie Gimblett
Charlie Gimblett
August 8, 2022.
A huge thanks To Tracy And Adrian from Super Equity for sharing their knowledge on the recent Introduction To The Stock market Course I attended. The course was fabulous and gave a great insight on how the world operates from Share Markets, to Economic Cycles, World Currencies and great tips on how to look for opportunities on how and where to invest based on local news and world events along with overseas markets and indicators. Also thanks again Adrian for the Silver coin for 1st prize as part of the demo share market game we played over the duration of the course. Would thoroughly recommend the Stock Market course as well Tracy and Adrian's knowledge on our own investments. Cheers Charlie
Leigh P
Leigh P
April 29, 2022.
Tracy has been a pleasure to deal with. Found her very approachable and patient. She is very knowledgeable in super funds and I would highly recommend her to anyone who needs more education on how to make their super work for them.
Lena Diez
Lena Diez
February 25, 2022.
My husband and I have had the privilege of receiving the guidance, services and support from Tracy for over 5 years. Having joined Super Equity has been one of the best financial decisions we have made to date. Tracy's extensive experience and knowledge has guided and helped us improve in our financial journey. No question is to silly, Tracy is always available for any query you have and gives us the time to explain our portfolio and investments. Receiving the daily morning reports has been helpful to understand and learn the market. We have always highly recommended and will not hesitate to recommend Tracy and team for any and all financial guidance. Thank you Tracy and look forward to your continual support.
Tessa Daal
Tessa Daal
October 13, 2016.
Tracy has been an amazing teacher. I have gone from having no idea about what my super was doing and feeling really overwhelmed by the thought of all that it involved, to now being in control and understanding. Through super equity's I have a transparent, easy to understand managed fund. Tracy has even put me into contact with advisors specialised in life insurance and income protection. I cannot thank Tracy enough for empowering me and helping me organise all my affairs. If you need someone patient an knowledgeable to organise your super and investment portfolio, Tracy is the best!!
Dianne Bentley
Dianne Bentley
July 8, 2016.
The service and support received from Super Equity has reached and surpassed all our expectations. Having previous experience with stock brokering firms over an 11 year period has highlighted to me how superior the service and support received from Tracy Askew at Super Equity is. For myself and for my clients. Tracy's in depth fundamental and technical knowledge in all areas of the market reduces many hours of my time in the research needed to be successful and profitable for myself and my clients.