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The Good Morning Report

Posted on September 6, 2023

The latest market news, commentary and strategy by Adrian Rowney 

5 Things that Grabbed my Attention

1. Jill Biden and a bunch of celebrities just got COVID; Joe Biden is back in a mask and taking regular tests. Governments have billions of Moderna/Pfizer vaccines to distribute....Here we go with the BS again.

2. Saudi's have extended their voluntary OIL production cut until the end of the year....Santos (STO) looks ready to break out of its trading range. BUY 

3. It would be impossible to build Ramsay's (RHC) massive portfolio of hospitals and clinics from scratch for $11.4bn (current market value) - and judging by the cost blowouts of major projects you would probably need at least $20bn!...Very good chance private equity will be back...BUY last sale $50.26

4. Packaging company Orora (ORA) is buying bottle manufacturer Saverglass from US private equity giant Carlyle Group for $2.2bn; 250 Saverglass upper management will be cashing out of all their shares as well....Buying off a cagey private equity group right now, plus all key staff selling - I don't like the sound of that; ORA is an AVOID for the time being.

5. With precision timing, Alan Joyce dumped 90% of his QANTAS (QAN) holdings at the ding dong high of $6.74 in June.

ASX Market Update

ASX 200 down 4 points to 7314

As expected by every man and his dog, the RBA kept interest rates on HOLD @ 4.1%....But they have left the door open for more hikes. Our market was relatively quiet with resources and financials mostly weaker while industrials closed in positive territory.

Random Observation

'Then I told the ASIC guy investigating my trades that I'm just a very lucky little Leprechaun and here's some free passes to the Chairman's Lounge!'

The Day Ahead

  • Our SPI is down 1 point
  • Bitcoin down 0.7% to $25,726

Movements affecting our resource stocks today (USD)

  • BHP in the US up 0.41%
  • Newmont down 1.2%
  • Gold down 0.78% to $1951
  • Paper Silver down 2.8% to $23.87
  • Platinum down 3.6% to $933
  • Copper down 0.16% to $3.82
  • Brent Crude up 1.12% to $90.00
  • Iron ore up 0.3% to $115

Asian Market Update

Japan up 0.3%, Hong Kong down 2%, Shanghai off 0.7%

Maybe Xi Man doesn't want to waste his time listening to clowns like Biden, Albo and various EU leaders as they whine about PUTIN and ramble on and on about cow farts for a few days....G20 is toast - the world is splitting up. 

Global Market Update

US Market

DOW down 195 points to 34,641

OIL stocks increased while airlines and cruise ship operators fell due to rising energy prices - last night's trade made plenty of sense!

European Markets

Germans down 0.34%, Brits fell 0.2% and Frenchies fell 0.34%

Eurozone manufacturing data showed the steepest fall in about 2 1/2 years while at the same time inflation expectations increased.....What a mess.

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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