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

21/07/2016 Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 21/07/2016 Argonaut Morning Note
    NextPrevious

    21/07/2016 Argonaut Morning Note

    By admin | Morning Notes | 0 comment | 20 July, 2016 | 0

    Market Update & Important Indicators

    U.S. stocks rose Wednesday, led by gains in technology shares. Investors betting on central-bank action have helped push riskier assets such as stocks higher in recent weeks after the U.K.'s surprise vote to leave the European Union in June triggered a market selloff. Better-than-expected U.S. economic data and corporate earnings have also boosted share s. The Dow Jones Industrial Average climbed to another record close Tuesday in its longest winning streak in three years. But daily gains have been relatively small recently. The blue-chip index has had one move of 1% or more in either direction so far this month, compared with six such moves in June. The S&P 500's technology sector was the index's biggest gainer, rising 1.5%. In European markets, The Stoxx Europe 600 rose 1% Wednesday.

    Asian shares largely ended Wednesday lower, with a sharp rise in the U.S. dollar sending traders to the sidelines ahead of key earnings in Japan. The Nikkei Stock Average closed down 0.3% while Korea's Kospi ended down 0.1%. The Shanghai Composite closed down 0.3% as well. Hong Kong's Hang Seng Index rose 1%. The Nikkei continues to pull back from hefty gains made the week after Prime Minister Shinzo Abe's big election victory. His ruling coalition on July 10 secured a bigger majority in Japan's upper house, boosting hopes for an economic stimulus. The yen recovered slightly against the U.S. dollar to trade at 106.19 per USD as investors sought the safety of the currency during a slightly off markets day. The People's Bank of China surprised the market Wednesday, setting the yuan 0.04% stronger despite the rally in the greenback.

    Australian shares rose as strength in consumer and healthcare stocks offset weakness in the mining sector. The S&P/ASX 200 ended up 37.4 points, or 0.7%, at 5488.7 on Wednesday, resuming its upward trajectory after yesterday's brief pause broke an eight-session winning streak. After a mixed performance from U.S. indexes, the local bourse started lower as weaker iron ore prices weighed on the miners, then edged higher during the session as the big banks also rose, supported by good results from Goldman Sachs in the U.S. overnight.

    Copper futures closed lower in London, pressured by a stronger dollar and a pickup in production in China, the world's top copper consumer. The London Metal Exchange's three-month copper contract was 0.36% lower at $4,966/t at the PM kerb close. Other base metals were mixed. Aluminium closed 1.3% lower at $1,610/t, zinc was up 0.1% at $2,240/t, nickel was up 0.2% at $10,549/t, lead was down 0.3% at $1,845/t, and tin was up 0.7% at $17,804/t.

    Thought of the Day:

    Argonaut WA Dashboard
    Updated selection of charts that cover net migration, employment, housing, vehicle sales, discretionary spending and airport passenger numbers.

    Recent Contacts & Presentations

    Department 13 (D13), Peak Resources (PEK), Fortescue Metals (FMG), Paradigm Biopharma (PAR), Peel Mining (PEX), Ausgold Limited (AUC), Gascoyne Resources (GCY), Metro Mining (MMI), Pacific Energy (PEA), Novatti Group Ltd (NOV), Hammer Metals Ltd (HMX), Helix Resources Ltd (HLX), Saracen Mineral Holdings Ltd (SAR), Merdeka Copper Gold (MDKA: IJ), Monument Mining (MMY.V: TSX), Apollo Consolidated (AOP), Botanix Pharmaceuticals (BOT)

    Please read Argonaut's Important Disclaimers & disclosures

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

    Argonaut Morning Note

    Google+

    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