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.
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...
Chinese #property developers stage strong rally on further policy easing.
Four top-tier cities have all eased a home mortgage policy.
Last week, China's financial regulators cut down-payment requirements and lowered rates on existing mortgages.https://t.co/haGgRmRP6L https://t.co/OBqPrDtJPF pic.twitter.com/yiSl0r8fWm
— YUAN TALKS (@YuanTalks) September 4, 2023
Global Market Update
SHUT for Labor Day
Key Market Summary