5 Things that Grabbed my Attention
1. US stocks rallied, while GOLD and OIL dropped as the market thinks Israel/Iran war is going to be a nothing burger…..I’m not convinced it is going to blow over that easy and I’ll be keeping an eye on insurance premiums for OIL tankers going through the critically important Strait of Hormuz shipping channel, as prices could skyrocket.
2. Abu Dhabi’s state owned oil company ADNOC has lobbed a takeover bid for Santos (STO) @ $8.89….The STO board agreed to the deal but I think they know the government won’t allow the Arabs to come in and swoop it up on the cheap, so are playing along in order to draw a higher bid from Woodside (WDS).….STO closed up 10.9% to $7.72 which was well below the bid as the market knows the Arab’s won’t get up – but it does highlight the value in the stock. BUY
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