Market Update & Important Indicators:
U.S. stocks edged lower, as declines in financial shares offset gains in shares of consumer staples companies. U.S. indexes have pulled back in recent sessions as investors have tried to weigh President Donald Trump's protectionist policies against the possibility of tax cuts and fiscal stimulus. The Dow industrials, S&P 500 and Nasdaq Composite are on course for weekly losses. Still, many investors see reason to be optimistic about U.S. stocks' path over the next year, citing improvement in corporate earnings and a strengthening economy. "We've pretty much decided to ride it through, because it's not all about Washington," said David Donabedian, chief investment officer at Atlantic Trust Private Wealth Management. "We've had a good run, and now we're seeing a major shift in sentiment where we have doubt creeping in," said Barry James, chief investment officer at James Investment Research.
European stocks lost ground on Thursday, with the Stoxx Europe 600 index giving up 0.3% to close at 361.95, paring back from a 0.9% gain made in the previous session. U.K. stocks, however, bucked the negative trend, moving higher after the Bank of England struck a more dovish tone in its latest policy update than analysts had expected.
Markets in Asia closed lower, with Japanese stocks down 1.2% as the yen climbed against the dollar. Japanese Prime Minister Shinzo Abe said that the country would remain open to undertaking direct intervention in the currency market, in response to questions about the need to include a currency deal in a bilateral trade agreement. In other news, technology stocks boosted markets in Taiwan whilst Hong Kong's Hang Seng Index lost 0.6% in its third consecutive day of declines.
Australian shares faltered for a third session this week, shedding early gains as investors await the start of the corporate earnings season next week. After rising modestly ahead of news of a record trade surplus for the country in December, which buoyed the local currency, the S&P/ASX 200 faded to finish 7.8 points, or 0.1%, lower at 5645.4. The index now sits down 1.2% so far this week. Uncertainty continues to hang over the market as the global spotlight remains fixed on U.S. President Donald Trump's early days in office and contentious policies, including a proposal to restrict immigration. Most sectors were in the red for the day, with only the materials and energy subindexes ticking slightly higher.
The London Metal Exchange's three-month copper contract closed down 0.99% at $5,886/t. The other base metals were mixed on Thursday. Aluminium closed up 0.4% to $1,818/t, lead closed up 0.5% at $2,341/t, and nickel closed up 1.4% at $10,341/t. Tin prices finished 0.1% lower for the day at 19,788/t whilst zinc prices also finished 1.1% lower at 2,841/t.
In this Issue:
Vault Intelligence (VLT) | Investing for growth | SPEC BUY
Market Cap $19m | Current Price $0.029 | Valuation $0.047
We like the shift to a recurring revenue SaaS model. This is despite 2Q17 numbers which demonstrate the mismatch between client acquisition costs (which are immediate) and revenue (which takes time to ramp up). We remain positive on longer term growth potential, although have downgraded forecasts on the evidence of higher costs. Spec Buy maintained on a revised blended valuation of $0.047 (prior $0.055).
Recent Contacts & Presentations:
Capricorn Metals Ltd (CMM), Eve Investments Ltd (EVE), Australian Mines Ltd (AUZ), Heron Resources Ltd (HRR), St George Mining Ltd (SGQ), Threat Protect Australia Ltd (TPS), Paringa Resources Ltd (PNL), The Gruden Group Ltd (GGL), Primary Gold Ltd (PGO), Vault Intelligence Ltd (VLT), Botanix Pharmaceuticals Ltd (BOT) Orthocell Ltd (OCC), Strandline Resources Ltd (STA) Dragontail Systems Ltd (DTS), ABM Resources Ltd (ABU), Acacia Coal Ltd (AJC), Troy Resources Ltd (TRY), Hazer Group Ltd (HZR), Berkeley Energia Ltd (BKY), Sino Gas & Energy Holdings Ltd (SEH), Sovereign Metals Ltd (SVM), Kin Mining (KIN), Vital Metals Ltd (VML), Mincor Resources (MCR)