ArgonautArgonautArgonautArgonaut
  • About Us
    • Business Model
    • Regulation
    • Community
    • Jason and the Argonauts
    • Disclaimer and Disclosure
    • COVID-19 Visitor Requirements
  • Corporate Finance
  • Stockbroking & Research
    • Stockbroking
    • Research
    • Best Execution Policy
    • Administration Forms
    • Open an Account
  • Special Situations
  • News
    • Latest News
    • Morning Notes
    • Latest Research
  • Contact
    • Careers
      • Advisers
      • Graduate Program
      • Internship Program

03/06/2015 Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 03/06/2015 Argonaut Morning Note
    NextPrevious

    03/06/2015 Argonaut Morning Note

    By admin | Morning Notes | 0 comment | 3 June, 2015 | 0

    Market Update & Important Indicators

    U.S. stocks turned higher Tuesday, reversing their morning declines, as bond markets sold off sharply and Greece's debt standoff continued. U.S. stocks have traded in a close range near record highs in recent weeks, as investors await further clarity on the health of the U.S. economy, as well as the Federal Reserve's timeline for launching interest-rate increases. In the past 30 days, both the Dow and the S&P 500 are virtually flat. Recent data has pointed to a slowdown in the economy in the first several months of the year, leading many investors to push back their time frame for when the Fed will begin rate rises. The Fed's preferred inflation gauge, the personal consumption expenditures price index, rose just 0.1% in April from a year earlier, the Commerce Department said Monday.European stock markets headed south on Tuesday, with developments in Greece the key concern for investors, after international creditors added pressure on Athens to accept a reform plan. The Stoxx Europe 600 index dropped 1% to close at 396.45, falling for the third time in four days. On Monday, the benchmark eked out a 0.2% gain after rumors that a long-awaited deal between Athens and its lenders was imminent. Jobless claims in Germany dropped by 6,000 in May. The decline, however, was less than the 10,000 forecast by economists polled by The Wall Street Journal. In Spain, jobless claims fell sharply in May, the decline the best on record for that month.

    Stocks in India sold off Tuesday despite a quarter-point cut in the key repurchase rate by the central bank, while in Japan shares snapped a 12-day winning streak, as exporters and banks were sold off despite advance by the dollar against the yen following a stronger-than-expected U.S. manufacturing report. The Nikkei Stock Average closed down 0.1% at 20543.19. The Nikkei record for unbroken daily rises is 14, set in January 1961. It climbed for 13 straight days in 1988. Bucking losses in the region were China shares, continuing their rebound from one of their worst one-day plunges of the year, suffered last Thursday. The Shanghai Composite Index was up 1.7% at 4910.53, putting it within sight again of the psychologically significant 5000 mark, last reached in January 2008. The index's recent closing high was 4941.71, last Wednesday.

    Copper futures closed up on the London Metal Exchange on Tuesday, as the dollar softened against the euro and sterling. Oil prices rose to the highest level of the year Tuesday on a weaker dollar and expectations of a fifth straight weekly decline in U.S. crude supplies. Gold advanced to $1,193/oz. The AUD is buying US$0.777

    In This Issue

    Metro Mining (MMI) | Spec Buy
    Metro Mining (MMI) is developing the Bauxite Hills project in the Cape York Peninsula, QLD, Australia. This bauxite project ticks a lot of boxes with low development capex, high operating margins, long life, low complexity and near term development potential. Bauxite Hills stands to benefit from growing seaborne demand driven by Indonesian and Vietnamese export bans and declining domestic Resources in China. Located close to Rio Tinto’s Weipa project, the project can leverage off the Cape York bauxite brand and has the advantage of being a short distance to China, the target market. Argonaut assigns a SPEC BUY recommendation and $0.25 target price, with a view that MMI offers high margin, low sovereign risk exposure to bauxite.

    Recent Contacts & Presentations

    Gold Road (GOR), Troy Resources (TRY), Orbital (OEC), Site Group (SIT), Saracen (SAR), Kibaran (KNL), Sino Gas & Energy (SEH), Rewardle (RXH), Alexium (AJX), Ausdrill (ASL), Tox Free (TOX), OBJ Limited (OBJ), Dacian (DCN), Saracen (SAR), Fertoz (FTZ), Atrum (ATU), , Buru Energy (BRU), Carnarvon Energy (CVN), Otto Energy (OEL), Empire Oil & Gas (EGO), Pura Vida Energy NL (PVD), MZI Resources (MZI), High Peak Royalties (HPR), Spookfish (SFI)

     Please read Argonaut's Important Disclaimers & disclosures

    Log in to the client area below to download the full Morning Note PDF

    Argonaut Morning Note

    No tags.

    NextPrevious
    • About Us
      • Business Model
      • Regulation
      • Community
      • Jason and the Argonauts
      • Disclaimer and Disclosure
      • COVID-19 Visitor Requirements
    • Corporate Finance
    • Stockbroking & Research
      • Stockbroking
      • Research
      • Best Execution Policy
      • Administration Forms
      • Open an Account
    • Special Situations
    • News
      • Latest News
      • Morning Notes
      • Latest Research
    • Contact
      • Careers
        • Advisers
        • Graduate Program
        • Internship Program
    Argonaut

    Argonaut | The Natural Choice in Resources.
    © 2022 Argonaut.

    Corporate Finance
    Stockbroking & Research
    Contact Us

    Argonaut | Perth

    Level 30, Allendale Square, 77 St Georges Terrace Perth, WA, 6000 Australia

    clientservices@argonaut.com

    ABN 72 108 330 650

    Argonaut | Login

    Client Area Help
    Register for Access to Client Area
    Privacy Policy
    Financial Services Guide 
    Website Disclaimer

    Copyright 2022 | Website ⚡ by Start Digital