The Good Morning Report – 5th Sept

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Cameco which is one of the world's largest miners of URANIUM announced a big production downgrade....This means the URANIUM market has just got even tighter! BUY URNM

2. DeBeers has cut the prices on some of it DIAMONDS by more than 40%....Punters have been turning to the cheaper lab grown stones.

3. RBA meets today...Market is not pricing in any chance of a rate hike.

4. AUD GOLD traded back above $3000 per ounce - it's record high hit back in May was $3112....It's inevitable that we will blaze past that high at some stage.

5. Ramsay (RHC) is now one of the largest and diverse healthcare companies in the world - currently employing 89K people across 10 countries and looking after millions of patients each year....BUY last sale $49.72

ASX Market Update

ASX 200 up 40 points to 7318

Fortescue (FMG) founder Twiggy Forrest gave a presentation last week in Perth - I cut a couple slides for you to see (the full presentation was released to the ASX - it has to be seen to be believed...).

I think this is the most insane ASX company presentation of all time....I prefer RIO&BHP over FMG for those wanting exposure to iron ore as Twiggy has completely lost his mind - so who knows what he is capable of.

Random Observation

17 Trillion Euro for Germany alone....hahaha...CLOWN WORLD!!...AVOID BONDS

The Day Ahead

  • Our SPI is down 31 points
  • Bitcoin down 3% to $26,327

Movements affecting our resource stocks today (USD)

  • BHP in the US - shut
  • Newmont - shut
  • Gold down 0.27% to $1963
  • Paper Silver down 0.76% to $23.98
  • Platinum down 0.65% to $953
  • Copper down 0.5% to $3.79
  • Brent Crude up 1.3% to $89.73
  • Iron ore up 0.5% to $114.60

Asian Market Update

Japan up 0.7%, Hong Kong put on 2.5% and China rallied 1.4%

Bargain hunters coming in for Chinese property developers...


Global Market Update

US Market

SHUT for Labor Day

European Markets

Germans down 0.1%, Brits off 0.16%, Frenchies dipped 0.25%

Winter is coming....

Key Market Summary

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Stephen Hall
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September 21, 2023.
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August 8, 2022.
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