The latest market news, commentary and strategy by Adrian Rowney
There will be no report tomorrow, will be back next Tuesday
5 Things that Grabbed my Attention
1. Samsung’s new solid state battery consumes about 1KG of SILVER….The era of CHEAP SILVER is not going to last forever. BUY ETPMAG
2. Corporate Travel (CTD) has now fallen about 53% over the past two years so my AVOID call has served it’s purpose…..Now there is some value in the stock, I’m removing my AVOID rating. CTD has zero debt and $134 million in cash on it’s balance sheet and will be using $100 mil of that to buy back shares.
3. Lynas (LYC) rallied 7.41% on no news….It’s likely that Gina is buying more….Perhaps Rio Tinto (RIO) is having a nibble….With the price of rare earths currently in the toilet, now is the time for a big player to make a takeover bid for this globally significant and strategic miner.
4. One I’ve definitely gotten wrong is shipping logistics technology outfit WiseTech (WTC). The stock hit a fresh all time high as it keeps growing like a weed. WTC is forecasting revenue growth next financial year of 25-30%….Sorry Tracy@SuperEquity – you were so right, I shouldn’t have thrown cold water on your idea….In the past I was very concerned about WTC successfully bedding down the huge number of acquisitions they were making.
5. Silver Mines (SVL) rallied 11.76% after telling the market they will submit a new mining proposal with the government that includes more detail on the transmission line…..I think they will get approval again. SPEC BUY
ASX Market Update
ASX 200 up 12 points to 8010
Domino’s Pizza (DMP) reported a net profit after tax of $120 mil with Australia and NZ it’s top performing regions while Asia took a hit…..DMP also reported a soft start to the new financial year with same store sales falling 1.3% over the past 6 weeks….With the negative news I thought the stock held up very well – down just 1.4%, which is a pretty good sign. DMP shares are currently trading at levels last seen in 2015.
Overall it is a mighty company that’s still making plenty of dough by selling over $4bn worth of pizzas a year. BUY
Also looks like DMP margins are going to improve next year….
Random Observation
I watch most of Ian’s clips – the dude leaves main stream media journos for dead and on no budget! (another reason to AVOID NEC & SWM)
The Day Ahead
- ASX futures up 18 points
- Bitcoin up 2% to $60,501
- BHP in US up 3%
- Newmont in US up 0.79%
- URNM in the US up 0.29%
Movements affecting our resource stocks today (USD)
- Gold FLAT @ $2553
- Paper Silver up 0.44% to $29.65
- Platinum up 2.1% to $975
- Palladium up 3% to $942
- Copper up 1% to $4.20
- Brent Crude down 1.46% to $76.05
- Iron ore up 3% to $98.30
Asian Market Update
Japan down 0.29%, Hong Kong off 0.69% and China dipped 0.35%
Hahahaha….The news is even better for URANIUM:
Global Market Update
US Market
DOW up 55 points to 40,890
We saw a mega M&A COAL deal overnight on the NYSE….Arch Resources and Consol Energy are hooking up.
Probably a good chance we will see some decent buying in ASX coal stocks today.
European Markets
Germans up 0.5%, Brits put on 0.12% and Frenchies added 0.52%
Mining and Auto stocks in Europe pushed the overall market higher.
Key Market Summary
