The Good Morning Report – 31st of May

1. The fire sale at Lend Lease (LLC) has already started with the AFR reporting it’s US construction business has been sold, but the price wasn’t disclosed….Safe to say, shareholders are getting rinsed.

2. According to Urbis, over the March quarter the average sale price of a new unit on the Gold Coast went for $1.73mil up a whopping $600K…..But yeah, inflation is running at 3.6%… LOL!!!

3.China lifted it’s ban on Aussie beef imports….Great news for Australian Agriculture (AAC) – I’m surprised it only put on 2.8%; sometimes it takes the market a bit to cotton on. BUY last sale $1.45

4. Anglo American has showed BHP the bird and told them to bugger off….BHP’s timing was the worst – trying to buy a globally significant copper miner while COPPER futures were surging was a stupid waste of time. Need to make big plays when the chips are down.

5. BYD’s new Plug in Hybrid (PHEV) is a game changer with a 2000km range….Great news for PLATINUM and PALLADIUM as a PHEV needs a catalytic converter…..BUY ETPMPT, ETPMPD and CHN

ASX 200 down 37 points to 7628

Pretty ordinary session for us with the GOLD mining index, ETPMPD and ETPMPT all falling around 3%. This price action gave the shorts plenty of confidence and they finished the day with the last laugh as CHN tanked 11% and RRL lost 6.5%.…We have to let them have their fun for the time being.

  • SPI is up 47 points
  • Bitcoin up 1.7% to $43,482
  • BHP in US down 1.33%
  • Newmont in US up 0.6%
  • URNM in US down 0.35%

Movements affecting our resource stocks today (USD)

  • Gold FLAT @ $2363
  • Paper Silver down 3.3% to to $31.29
  • Platinum down 1.3% to $945
  • Palladium down 2% to $957
  • Copper down 2.8% to $4.65
  • Brent Crude down 1.97% to $81.95
  • Iron ore down 2.6% to $115.85

Japan down down 1.3%, Hong Kong off 1.34% and China dipped 0.62%

BYD’s new Plug in Hybrid (PHEV) is a winner, winner chicken dinner….Western autos are screwed and will be screaming for government protection as they all scramble to develop something similar…..Even I want one of these BYDs!

Also easy to see why China has been hoovering up available supplies of PLATINUM and PALLADIUM which will be needed in the PHEV catalytic converters…..BUY ETPMPD, ETPMPT and CHN.

DOW down 330 points to 38,111

AI chip monster, Nvidia fell 3.77% on talk that the US government is going to restrict it’s sales to the Arabs.

Germans up 0.13%, Brits added 0.59% and Frenchies put on 0.55%

Inflation in Spain came in at 3.6% for May which was higher than expected…..Going to be hilarious if the ECB cuts rates.

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