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The Good Morning Report

Posted on August 30, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. GOLD hit a fresh all time high in YEN.

2. Star Group (SGR) wrote down the value of it's casinos by $2.17bn. The market had largely factored this in, which is why there was no reaction in it's share price.

3. Virgin boss Jayne Hrdlicka said allowing more competition from QATAR Airways would have slashed overseas airfares for Aussies by at least a third.....All of Albo's major policies are inflationary.

4. Lark Distilling (LRK) shares are trading at a significant discount to it's whisky bank which has now grown to 2.4 million liters....I value it's whisky bank alone at $244 million or $3.25 per share. BUY last sale $1.57

5. WHC goes ex dividend of 42c fully franked on Thursday - it's 9% grossed up!!...You have to buy the stock today to qualify for it.

ASX Market Update

ASX 200 up 50 points to 7210

Star Group (SGR) spelled out below, exactly what issues they face over the coming months. AUSTRAC & Debt Refinancing are the two big ones to watch in my view; with the stock languishing at record lows, I could make a decent case to BUY - but at the same time I have an equally solid case to rate it as an AVOID....So what to do???? BUY ETPMAG & ETPMPT instead - risk/reward on those two are sen-friggin-sational!!!

I know I sound like a bit of a wuss - but I'm watching SGR from the sidelines.

Random Observation

Whisky as an asset class!....BUY LARK (LRK)

The Day Ahead

Reports: BXB,PGL,CCX,HLS,FLT,ABA

  • Our SPI is up 33 points
  • Bitcoin up 7% to 27,933

Movements affecting our resource stocks today (USD)

  • BHP in the US up 2.18%
  • Newmont up 1.23%
  • Gold up 0.95% to $1965
  • Paper Silver up 2.16% to $24.77
  • Platinum up 1.5% to $987
  • Copper up 1% to $3.79
  • Brent Crude up 1.3% to $85.53
  • Iron ore up 0.1% to $110.30

Asian Market Update

Japan up 0.18%, Hong Kong up 1.95% and China put on 1.2%

Investors are finding out the hard way that AI is not translating to easy gains.....

Global Market Update

US Market

DOW up 292 points to 34,852

Bitcoin surged 7% after a court overturned a decision by the SEC to block Grayscale Investments from launching a spot BITCOIN ETF.

European Markets

Germans up 0.88%, Brits rallied 1.72% and Frenchies put on 0.67%

Mining sector was the best performing group in the UK....Glencore rallied 2.85% and Anglo put on 3%....The positive sentiment is likely to carry through to the ASX today.

Key Market Summary

General Advice Warning
The information provided in this post is general information only. Unless otherwise stated the information is not designed for the purpose of providing personal, financial or investment advice. Any examples are presented for illustration purposes and past performance is not a reliable indicator of future performance. The information provided does not take into account your particular investment objectives, financial situation or investment needs.

Without limiting the generality of the above paragraph no person, persons or organisation should invest monies or take action on the reliance of the material contained in this post, but instead should satisfy themselves independently (whether by expert advice or otherwise) of the appropriateness of any such action. Unless otherwise stated the information presented is not a recommendation to invest in any investments, securities or financial products.

This service, like all other financial services, is subject to market forces and unpredictable events that may adversely affect its future performance. Whilst all care has been taken in compiling information in this post, and is provided in good faith, it is not to be relied upon as a substitute for professional advice. The views expressed are commentary only and the writer accepts no responsibility for the accuracy, completeness or timeliness of the information.

Super Equity Pty Ltd ACN 609 373 202 is a Corporate Authorised Representative 001238425 of ANDIKA Pty Ltd AFSL 297069. It should also be noted that references and hyperlinks to any third party information (including, but not limited to: news articles, blogs, reports, videos or other mediums of information) is not an endorsement of that party or product.

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June 22, 2023.
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January 12, 2023.
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August 8, 2022.
A huge thanks To Tracy And Adrian from Super Equity for sharing their knowledge on the recent Introduction To The Stock market Course I attended. The course was fabulous and gave a great insight on how the world operates from Share Markets, to Economic Cycles, World Currencies and great tips on how to look for opportunities on how and where to invest based on local news and world events along with overseas markets and indicators. Also thanks again Adrian for the Silver coin for 1st prize as part of the demo share market game we played over the duration of the course. Would thoroughly recommend the Stock Market course as well Tracy and Adrian's knowledge on our own investments. Cheers Charlie
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