There will be no report again for the rest of the week.
Enjoy your Australia day!
5 Things that Grabbed my Attention
1. My 'Introduction to the STOCKMARKET' 6 week evening course starts at TAFE on Wednesday 8th February. If you want to know what it takes to build an investment portfolio then follow this link to enrol.
2. Value fund manager, Allan Gray has used the dip in AWC to increase its holding up to 18.5%...they would have loved those that dumped the stock onto them after the recent trading update....BUY last sale $1.635
3. More evidence of Aussies going mental at the shops; MYER just posted its strongest sales in 20 years!...How long can this spending spree last???
4. Perpetual and Pendal have completed their merger. I think the combined group will struggle to consistently grow funds under management. AVOID...I see ETFs continuing to take market share as investors get sick of paying huge fees to the big boys that pretty much just hug the index.
5. Whilst SILVER has bounced 30% from the September low last year, new investors have not missed the boat....SILVER is still more than 50% below its high reached in 1980, so its still in the BARGAIN BIN!
ASX Market Update
ASX 200 up 33 points to 7490
Resources enjoyed another solid session with the sector continuing to significantly outperform financials, property, tech and bonds.....Giddy up!!
One of my preferred GOLD/COPPER plays - Evolution (EVN) posted a surprising strong quarter with production up and costs down! Are you kidding - who in the world is pulling that off at the moment?!!?...EVN rallied 4.9% to $$3.41 BUY
Print over $300bn then ask Aussies to take a pay cut...What a piece of absolute garbage.
The Day Ahead
- Our SPI is down 10 points
- Bitcoin up 0.7% to $23,012
Movements affecting our resource stocks today (USD)
- BHP in the US up 0.5%
- Gold up 0.39% to $1938
- Paper Silver up 0.8% to $23.77
- Copper FLAT @ $4.26
- Brent Crude down 2.2% to $86.23
- $A buys 70.44 US cents
Asian Market Update
CHINA and Hong Kong SHUT, JAPAN up 1.46%
Don't think the Xi Man is happy with this...he is demanding BABIES!
Global Market Update
DOW up 104 points to 33,733
Something crazy happened on the NYSE overnight....Red FLAG???
FTSE down 0.35%, DAX FLAT and CAC put on 0.26%
Defense systems manufacturer, Rheinmetall hit an all time high on the back of the UKRAINIAN bonanza....Isn't that just delightful!