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

08/09/2015 Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 08/09/2015 Argonaut Morning Note
    NextPrevious

    08/09/2015 Argonaut Morning Note

    By admin | Morning Notes | 0 comment | 7 September, 2015 | 0

    Market Update & Important Indicators

    U.S. financial markets were closed Monday for the Labor Day holiday. In Europe the Stoxx Europe 600 clawed back some of the losses suffered last week to end the session 0.5% higher. The London FTSE also gained 0.5%, while the German DAX and French CAC added 0.7% and 0.6% respectively.

    China-driven volatility returned to Asian markets Monday, with Shanghai leading most of the region's markets lower on renewed concerns about China's economy. Shares in Japan rose slightly but most stock benchmarks in the region fell, after China cut its growth rate for last year to 7.3% from 7.4%. The jobs report in the U.S. Friday refocused investors' attention on the possibility the Federal Reserve would raise short-term interest rates in September, sending currencies such as the Malaysian ringgit and Indonesian rupiah to fresh 17-year lows against the U.S. dollar.

    In Shanghai, the main benchmark veered between positive and negative, before closing down 2.5%. Investors took the intraday gains (the market was up as much as 1.8% in the morning) as an opportunity to take profit after the market had been closed last Thursday and Friday for a national holiday. The day's losses came despite soothing comments from the governor of China's central bank over the weekend and more efforts by authorities to contain market turbulence.

    After the market close, Chinese authorities announced that the country's foreign-exchange reserves fell by $93.9 billion in August from July, as the nation's central bank intervened in the currency market to shore up the yuan and prevent capital flowing out of the world's second-largest economy.

    The Australian dollar traded at a fresh six-year low below US$0.6900 Monday, as concerns about world growth and talk of recession in the local economy kept buyers on the sidelines. The currency traded briefly at US$0.6892, a low level not seen since the market panic associated with the global financial crisis.

    Copper traded 0.6% higher on the LME overnight, although other base metals were mixed. Iron ore added 0.6% to $56.85/t, while Brent and WTI crude both fell, the former losing 4.0% to $47.63/bbl. Gold traded slightly lower at $1,123/oz.

    Recent Contacts & Presentations
     

    AWE Limited (AWE), Ausdrill (ASL), GR Engineering (GNG), Medusa (MML), Resolute (RSG), Rift Valley (RVY), Troy (TRY), Northern Star (NST), Sandfire (SFR), Regis (RRL), Saracen (SAR), Sino Gas & Energy (SEH), Dacian (DCN), Buru Energy (BRU), Carnarvon Petroleum (CVN), Otto Energy (OEL), Empire Oil & Gas (EGO), FAR Limited (FAR), Central Petroleum (CTP), Senex Energy (SXY)

     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