The Good Morning Report – 30th Jan

1. The Whitehouse has put a halt on new US LNG export terminals…..Great news for STO, WDS, KAR and BPT.

2. Looks like RipCurl, owned by KMD Brands (KMD) has gone ultra woke – Bud Light style…See Random Observation.

3. Wayne Byres the former chairman of APRA (financial services regulator) is set to start as a director of Macquarie Bank (MQG) this week….He has been handsomely rewarded by the establishment for famously scrapping the 7% stress test for home loans back in 2019.

4. Disney is increasing the price of its streaming service in Australia by 28%.

5. It’s finally all over red rover for China’s Evergrande after a HK court ordered the liquidation of its remaining assets. Back in 2018, Evergrande was the world’s largest property group.

ASX Market Update

ASX 200 up 23 points to 7578

Energy stocks should have been up a lot more as a number of sitting US congressmen push for all out WAR against IRAN. Let me be clear of the consequences: If the STRAIT of HORMUZ gets cutoff, then OIL prices will explode higher. And a surging OIL price would trigger an inflationary spiral which would smash the bond market and the very fragile financial system that exists…..STO increased 1.69%, KAR put on 2.6% and WDS added 2.34%.

Elsewhere, Kingsgate (KCN) which is a GOLD miner that I like, surged 13% to $1.45 on no news. KCN which is a very low cost producer, could easily get swallowed up by any number of mid-tier miners on the ASX. BUY

If you wanted to destroy the goodwill of a brand built up over decades then this is exactly what you would do….

My recommendation of KMD shares is under review.

  • SPI is up 6 points
  • Bitcoin up 2.8% to $43,055
  • BHP in US down 0.5%
  • Newmont in US up 0.42%
  • Rio in London down 0.14%

Movements affecting our resource stocks today (USD)

  • Gold up 0.43% to $2025
  • Paper Silver up 1.7% to $23.26
  • Platinum up 1.78% to $937
  • Copper up 0.75% to $3.88
  • Brent Crude down 1.64% to $84.23
  • Iron ore up 1.3% to $135.60

Japan up 0.77%, China down 0.92% and Hong Kong added 0.78%

The collapse of China’s Evergrande definitely came as no surprise – just look at the chart below. By the end of 2022 the stock had very little remaining value and it’s bonds were basically worthless. So the news was just a formality.

DOW up 224 points to 38,333

I was surprised to see BRENT CRUDE fall 1.6% overnight.

These CLOWNS in congress could think of nothing better than sending other people’s kids off to WAR.

Germans off 0.12%, Brits were FLAT and Frenchies added 0.09%

I’m quite baffled how Europe is ignoring the serious inflationary consequences that it faces due to the RED SEA shipping channel being closed off.

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