The latest market news, commentary and strategy by Adrian Rowney
5 Things that Grabbed my Attention
1. I think Star Group (SGR) shares are going to collapse when it resumes trading today. SGR is losing money hand over fist and and is now paying 13.5% on it’s debt. Pure dog’s breakfast…..Sometimes it’s the stocks you AVOID that make all the difference.
2. Ka-Ching, Ka-Ching….Whitehaven (WHC) finally got approval to extend it’s Narrabri mining complex from 2031 to 2044. I reckon the debacle over Regis’ (RRL) gold mine getting knocked back worked in WHC’s favour. BUY last sale $6.94. WHC should find it’s way back up to $10.
3. Oracle has plans to build 3 small nuclear plants to run it’s data centers which will power AI……URANIUM market faces structural undersupply. BUY PDN, BOE and URNM
4. PLATINUM is trading at a record, 63% discount to GOLD. Considering that PLATINUM is 20 times rarer than GOLD, the situation is completely retarded. Plus the PLATINUM market is in deficit meaning mining supply is not keeping up with demand…. Risk/reward is sensational – an EPIC move could be right around the corner. BUY ETPMPT & CHN
5. US Private Equity firm KKR and Aussie Billionaire Scott Farquahar are the new majority shareholders of Queensland Airport Ltd which owns the Gold Coast, Townsville, Mt Isa and Longreach airports…..Can’t really do anything with that information but it’s just good to know who owns what around the joint.
ASX Market Update
ASX 200 up 77 points to 8203
Once again the miners made some good gains – which was fine by me. The Xi Man wants to pump the Chinese markets so we will go for the ride. WAHOOOOO!!!!
PDN rallied 7.6%, CHN added 3.21% and WHC put on 3.42%
Random Observation
I’m sure Blackout Bowen and the majority of Canberra are very impressed with this achievement as our political leaders couldn’t give a flying stuff about energy security either….
The Day Ahead
- ASX futures up 21 points
- Bitcoin up 2.3% to $64,714
- BHP in US up 5.7%
- Newmont in US up 0.55%
- URNM in US up 0.49%
Movements affecting our resource stocks today (USD)
- Gold up 0.37% to $2694
- Paper Silver up 0.96% to $32.32
- Platinum up 2.3% to $1024
- Palladium up 1.26% to $1051
- Copper up 3.5% to $4.64
- Brent Crude down 2.91% to $71.32
- Iron ore up 4% to $100.30
Asian Market Update
Hong Kong soared 4.16%, China rallied 3.16% and Japan added 2.79%
I gave my old mate Zhang a call to hear what’s going on in the Chinese markets….
“Hey Adran, thank bery bery much for tip on Alibaba at ding dong low, it go like rocket ship. Zhang buy future, call option and margin rending. Zhang eat big big tonight – Sweet Sour Pork, Dumpring, Peking Duck’.
Global Market Update
US Market
DOW up 260 points to 42,175
Giant NYSE listed copper miner Freeport – McMoRan surged another 7.21% as COPPER futures put on 3.5%….Kind of surprised that the world’s largest GOLD miner, Newmont (NEM) which is also a beast of a COPPER producer, only put on 0.55%. We’ve been making some strong returns on NEM but I think there is plenty more to come – they must be printing money with OIL falling and METALS rising!
European Markets
Germans put on 1.69%, Brits added 0.2% and Frenchies rallied 2.33%
LVMH Moet Hennessy Louis Vuitton surged 9.88% on what looks like hopes that the Chinese go to town on their stuff now that Xi Man is giving things a proper pump.
Key Market Summary
