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

26/06/2018 Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 26/06/2018 Argonaut Morning Note
    NextPrevious

    26/06/2018 Argonaut Morning Note

    By admin | Morning Notes | 0 comment | 25 June, 2018 | 0

    Market Update & Important Indicators:

    U.S. stocks tumbled, heading for their biggest one-day slide in months, as fresh escalations in the global trade conflict sent investors fleeing from some of the market's most-beloved technology firms. Fresh jabs between the White House and China exacerbated investor fears about a full-blown trade war. President Donald Trump is moving to bar Chinese companies from investing in U.S. tech firms and block additional tech exports to the country, in his latest effort to pressure Beijing. Chinese President Xi Jinping told a group of multinational chief executives that Beijing would "punch back." The blue-chip index fell as much as 446 points The Dow was recently down 1.3%. The S&P 500 dropped 1.4%, and the tech-heavy Nasdaq Composite fell 2.1%. Monday's selling entangled a sector of the stock market that had been relatively resilient to the rise in trade tensions over recent months. Technology stocks have been a standout in the S&P 500 this year, rising 9.5% compared with the S&P 500's 1.5% gain. Companies like Twitter, Nvidia and consumer-discretionary firm Amazon.com have surged more than 40% apiece as investor’s funnelled money into firms upending everything from communication to brick-and-mortar retail. Technology companies in the S&P 500 pull in about 59% of their revenues from overseas, giving them the highest foreign exposure of the broad index's 11 sectors, according to FactSet and BofA Merrill Lynch data. The US gold price decreased 0.3% to 1,265.10 US$/oz.

    European shares fell 2.2% as technology stocks lost ground in the face of trade-war jitters and cruise operator Carnival encountered choppy waters. The Stoxx Europe 600 dropped 7.96 points to 377.05 while Germany's DAX declines 2.5% and France's CAC 40 retreats 1.9%.

    Asian stocks declined, with a number of markets seeing selling accelerate ahead of and as European trading began. Chinese equities steadily fell in afternoon trading, leaving the Shanghai Composite less than 0.5% from bear-market territory. Meanwhile, Hong Kong indexes closed down 1.3% and Singapore's benchmark was off 0.8% after the Philippines' PSEi ended with a 1.1% drop, notching its lowest close since the first trading day of 2017. Taiwan's benchmark fell 1% and the Nikkei–amid a strongly higher yen–fell 0.8% to match Friday's selling.

    A pullback in financials helped keep Australia's stock index lower amid declines in much of the region, but the S&P/ASX 200 continued to outperform. It fell 0.2% to 6210.4 to notch a second-straight modest drop. After driving the market's advance in recent weeks, the big banks faltered, led by a 2.3% drop in CBA on its spinoff plans. Meanwhile, Telstra continued to slide, losing another 0.8% to a fresh 7-year low in the wake of its own restructuring plans. Energy and mining stocks bucked the trend, rising amid the end-of-week commodity-price gains.

    Base metal prices were mainly down overnight on the London Metal Exchange. The 3-month copper contract decreased 0.6% to 6,749/t whilst tin finished 1.4% lower at 20,190/t. The price of aluminium fell 0.9% to 2,161/t and nickel declined 3.5% to 14,646/t. Zinc also fell by 2.1% to 2,914/t.

    Recent Contacts & Presentations:

    Marindi Metals (MZN), MOD Resources (MOD), Santos (STO), Adriatic Metals (ADT) Bio–Gene Technology (BGT), Walkabout Resources (WKT), Triton Minerals (TON), Calima Energy (CE1), Peel Mining (PEX), Catalyst Metals (CYL), Vault Intelligence (VLT), Doray Minerals (DRM), Nzuri Coppoer (NZC), Bowen Coking Coal (BCB), Phosphagenics Limited (POH) Great Boulder Resources (GBR), Orthocell (OCC), Northern Minerals (NTU), ABM Resources Ltd (ABU), Vital Metals Ltd (VML), Todd River Resources Ltd (TRT), Pacific Energy Ltd (PEA), Carnarvon Petroleum Ltd (CVN), Australian Mines Ltd (AUZ), Australian Finance Group (AFG), Paladin Energy Ltd (PDN), Cooper Energy Ltd (COE), Medibio Ltd (MEB), Botanix Pharmaceuticals Ltd (BOT), Salt Lake Potash Ltd (SO4), Golden Mile Resources Ltd (G88), NTM Gold Ltd (NTM), Ausmex Mining Group Ltd (AMG), Matrix C&E Ltd (MCE), Austal Ltd (ASB), Decmil Group Ltd (DCG), Ventnor Resources Ltd, Ausdrill Ltd (ASL), Alice Queen Ltd (AQX), PNX Metals Ltd (PNX), Alliance Resources Ltd (AGS), Myanmar Metals Ltd (MYL), Primary Gold Ltd (PGO), Sino Gas & Energy Holdings Ltd (SEH)

    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