Midday Report Wednesday

Reports Section

ECONOMIC & OTHER NEWS In July 2023, the Ai Group Australian Industry Index fell to -14.7, continuing its contraction for a 15th month. Employment, new orders, and activity/sales declined, with manufacturing and construction sectors experiencing significant downturns. The Australian dollar declined 1.5% to 66.14 US cents following the Reserve Bank's decision to maintain the cash…

Pre-Market Report Tuesday

Reports Section

US equities finished in the green overnight on July’s last trading day, closing near best levels. Dow Jones up 100 points (+0.28%). Up 108 points at best. Down 29 points at worst. S&P 500 and NASDAQ added 0.15% and 0.21%, respectively. All three major indexes ended with gains for the month, Dow up 3.32%, and…

Henry’s Take – Copper in focus

Box 2

SUMMARY  As promised a look at four second-tier copper stocks. LRS remains firm in the face of the lithium sell-off. Takeover potential maybe? A11 Research from Macquarie. 2.45PM Updates RBA leaves rates unchanged. LRS trying to push through 40c. PMT doing well. Happy to have stuck with my view from the reserve upgrade. Lucky with…

Strategy By Henry – Apathy on the ASX

Box 1

SUMMARY  Apathy on the ASX. Still no stimulus really. Where will the rally come from as we head into reporting season? Is that a bear or a US analyst dressed up? Yesterday looked more like Apathy on the ASX. A day of disappointment after a promising start. A fizzer and possibly significant, given the big…

Midday Report Tuesday

Reports Section

RBA INTEREST RATE DECISION – HOLD The Board decided to keep the cash rate target at 4.10% and the interest rate on Exchange Settlement balances at 4.00%. Interest rates have increased by 4 percentage points since the previous year to balance supply and demand in the economy. Inflation in Australia is declining but still high…

End Of Day Report Tuesday

Reports Section

ASX 200 up 40 points to 7451 (+0.5%) as shares rallied slightly further in the afternoon after the RBA announced it was leaving the cash rate unchanged. The Aussie dollar fell 0.8%  to 66.66c, and bond yields took a hit. 2Y and 10Y bond yields fell 9bps and 8bps, respectively. Gold miners were golden today thanks to Lowe, NCM up 1.4%, EVN up 2.4% and NST +1.6%. Major iron ore…