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

29/06/2015 Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 29/06/2015 Argonaut Morning Note
    NextPrevious

    29/06/2015 Argonaut Morning Note

    By admin | Morning Notes | 0 comment | 28 June, 2015 | 0

    Market Update & Important Indicators

    Sporting gear giant Nike has lifted the Dow into positive territory, while disappointing results from chipmaker Micron Technology pushed Nasdaq into the red. The Dow Jones Industrial Average gained 56.32 points on Friday (0.31 per cent) to 17,946.68. The broad-based S&P 500 slipped 0.82 (0.04 per cent) to 2,101.49, while the tech-rich Nasdaq Composite Index fell 31.68 (0.62 per cent) to 5,080.51. Nike jumped 4.3 per cent to lead the Dow as earnings for the quarter ending May 31 rose 21.6 per cent to $US865 million ($A1.12 billion).

    Eurozone stocks posted moderate gains after creditors offered Greece an extension to its bailout with an additional 12 billion euros ($A17.38 billion)to keep it from defaulting. The CAC 40 in Paris climbed 0.35 per cent on Friday to 5,059.17 points and Frankfurt's DAX 30 added 0.17 per cent to 11,492.43 points. Milan rose 0.67 per cent and Madrid gained 0.57 per cent. Meanwhile Athens' main index posted a strong 2.03 per cent gain to 797.52 points. But outside the eurozone, London's benchmark FTSE 100 index dropped 0.79 per cent to 6,753.70 points.

    Asian markets sank again after Greece's latest bailout reform talks failed to reach a deal days before a major debt deadline, while Shanghai collapsed on fears Chinese stocks are overvalued after a year-long advance. Tokyo fell 0.31 per cent, or 65.25 points, to close at 20,706.15, while Sydney shed 1.54 per cent, or 86.80 points, to 5,545.90. Shanghai plunged 8.5 per cent at one point, its biggest loss in eight years, as investors that had flooded the market on margin trading – borrowing cash to buy stocks – decided to pull out as the index suffers a correction. The market, which surged 150 per cent in the year to June 12, eventually closed down 7.40 per cent, or 334.91 points at 4,192.87 – its lowest since the start of May.

    The Australian market looks set to open higher as international markets await the impact of Greece's breakdown in its debt bailout talks. At 0645 AEST on Monday, the September share price index futures contract was up 10 points at 5,510. No major local economic news is expected on Monday. In equities news, Outdoor advertiser QMS Media lists on the ASX. In Australia, the market on Friday, uncertainty about Greece's emergency debt talks caused the sharpest fall in shares in almost four weeks. The benchmark S&P/ASX200 index was down 86.8 points, or 1.54 per cent, at 5,545.9 points. The broader All Ordinaries index was down 83.8 points, or 1.49 per cent, at 5,536.1.

    Oil prices have traded flat in a market still devoid of strong demand or supply signals but wary of Greece's cliffhanger debt talks and negotiations about Iran's nuclear program in Vienna. On the New York Mercantile Exchange, West Texas Intermediate (WTI) or light sweet crude for August stood at $US59.63 ($A77.08) a barrel on Friday, down seven cents from Thursday, and 23 cents above where the price stood a week ago. On London's Intercontinental Exchange, Brent North Sea crude for delivery in August added 6 cents for the day to $US63.26 per barrel, up 60 cents from a week before.

    Brent fell 0.78% to US$62.48/bbl. Metals on the LME were down across the board with the exception of Tin up 0.1%. Gold was down 0.1% to US$1174/oz. Iron ore fines fell 0.18% to US$62.01/t.

    Recent Contacts & Presentations

    Northern Star (NST), Sandfire (SFR), Western Areas (WSA), Panoramic Resources (PAN), Regis (RRL), Kingsrose (KRM), Medusa (MML), Pacific Energy (PEA), Orbital (OEC), Peet (PPC), Alexium (AJX), Austal (ASB), Empired (EPD), Rewardle (RXH), Saracen (SAR), Sino Gas & Energy (SEH), Dacian (DCN), Buru Energy (BRU), Carnarvon Energy (CVN), Otto Energy (OEL), Empire Oil & Gas (EGO), Pura Vida Energy NL (PVD), High Peak Royalties (HPR), Carnarvon Petroleum (CVR)

     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