Market Update & Important Indicators
U.S. stocks rose for the second session in a row Monday, pushing the S&P 500 index near its all-time high. The broader index closed up 6 points, or 0.3%, at 2,114, while the Dow Jones index ended the session up 46 points, or 0.3%, at 18,070. Action in the U.S. stock market has been choppy this year, as investors grapple with evidence of an economic slowdown at the start of the year, the strong dollar's drag on earnings and the possibility of higher interest rates.
European stocks rose Monday, recovering from one of the worst weeks in months, supported by rebounding manufacturing data for the region. Having opened the session lower, Germany's DAX 30 and France's CAC 40 ended the day almost 1.5.% and 0.7% higher, helping the Stoxx Europe 600 to a 0.6% gain, after figures showed that the eurozone's manufacturing sector expanded in April. London's FTSE 100 was shut on Monday for a bank holiday.
China shares rebounded from early losses Monday as data suggested Beijing may need to further bolster the economy, while Indonesia and the Philippines both bounced back from losses last week. The Shanghai Composite Index finished up 0.9% at 4,480 and the Hang Seng Index was flat at 28,124. Monday morning, the HSBC China purchasing managers index showed a slowdown in manufacturing activity in April, with a reading of 48.9.
Brent crude was flat at $66.45/bbl, while gold gained 0.8% to $1,188/oz. The LME was closed.
In This Issue
Buru Energy (BRU) | BUY
Buru Energy (BRU) released its Q1 2015 CY report coupled with an operations update. Total production from the Ungani extended production test (EPT) came to 16,474 bbl (Argonaut forecast of 15,000 bbl). The EPT was halted on 8 February in preparation for the Ungani facilities upgrade with commercial production to begin once the production licence and consent to operate is obtained from the DMP, expected late July. During the Q BRU had positive news flow coming from key Native Title agreements being met, the Fitzroy River royalty claim being dismissed, JV alignment on the 2015 exploration program and a successful re-organisation which included reduction in staff numbers and review of programs and budget. Cash reduced to $43.6m with nil debt.
Recent Contacts & Presentations
Dacian (DCN), Saracen (SAR), Fertoz (FTZ), Atrum (ATU), Doray (DRM), Buru Energy (BRU), Carnarvon Energy (CVN), Otto Energy (OEL), Empire Oil & Gas (EGO), Pura Vida Energy NL (PVD), Migme (MIG), Vmoto (VMT), Pioneer Credit (PNC), Minemakers (MAK), MZI Resources (MZI), High Peak Royalties (HPR), Leaf Resources (LER), Austin Engineering (ANG), Ausdrill (ASL), Matrix (MCE), Austal (ASB), MMA Offshore (MRM), CTI Logistics (CLX), 99 Wuxian (NNW)