Trader thoughts for the Asia open
Asia has one thing on its mind – the Coronavirus – although, we must consider US politics and the fact that Bernie Sanders is now a firm favourite. Not just to convincingly take out the Iowa caucus (on 3 February), but is now 8 ppt ahead of Biden to take the full Democrat nominee to…
Did BlackRock Pull the Plug on King Coal?
While coal has lost its grip on the title of “King of Commodities”, it has defied the oddsmakers predicting its ultimate demise. Numerous “King Coal is Dead” articles and contrarian views touting coal’s resilience litter the financial news. Yet the King stubbornly hangs on, defying the skeptics and delighting the contrarians. The “king coal is…
Gold Mining Stocks Are Wavering
The gold miners’ stocks are wavering, frustrating traders. For the better part of a half-year, this sector has neither broken out nor broken down. Instead it has mostly ground sideways since the last upleg’s peak. Gold stocks being mired in a consolidation so long, even a relatively-high one, is steadily eroding bullish sentiment. That ups…
Energy Regulator backs SA-NSW power link
The Australian Energy Regulator has backed the proposed interconnector between South Australia and NSW but has slashed the estimated benefits to consumers. The AER says the $1.5 billion proposal will help the long-term transition to low emission technologies and help prevent blackouts in SA. Chairwoman Clare Savage says it assessed ElectraNet’s proposal across a range…
ASX powers higher for 5th straight day
Australian shares have powered to new highs for a fifth consecutive day as the unprecedented bull run continues. The benchmark S&P/ASX200 index finished Monday up 15.4 points, or 0.22 per cent, to finish at 7,079.5 points after reaching a new high of 7092.5 in morning trade. The broader All Ordinaries gained 16 points, or 0.22…
Technology is reshaping modern medicine
But ethical and economic challenges could limit the benefits medtech brings to healthcare. The Nobel Prize in Medicine 2019 was awarded to three men for “their discoveries of how cells sense and adapt to oxygen availability”. The Nobel Prize in Medicine 2018 was given to two men “for their discovery of cancer therapy by inhibition…
Investor Signposts: Week Beginning January 20 2020
Australia: Quiet week ahead • The fourth week of the year looks to be a quiet one for economic data, both in Australia and the US. In Australia consumer sentiment and employment data dominate the list of scheduled releases. • The week kicks off on Tuesday when the Commonwealth Bank releases the December Household spending…
Rio’s iron ore drops after cyclone, fire
Rio Tinto has posted a 3 per cent drop in iron ore shipments in 2019 as the Anglo-Australian miner’s operations faced disruptions due to cyclone and a fire at a port facility. Iron ore shipped from Australia’s Pilbara region in 2019 was 327.4 million tonnes, the company said, well within its forecast of 320 million…
Job vacancies up in three months to Nov
Job vacancy numbers for both the private and public sectors climbed in the three months to November, although not enough to record an annual rise. Vacancies were up 1.6 per cent over the November quarter – breaking two previous quarters of decline – including a 1.6 per cent drop in August that was restated from…
Carlos Ghosn to speak publicly on escape from Japan
Former Nissan boss Carlos Ghosn will give a hotly awaited press conference in Lebanon on wednesday, his spokesman said, offering clarity on his recent flight from Japan. Since arriving in his native Lebanon after skipping bail in Japan almost a week ago, the 65-year-old businessman has given few media statements. The circumstances of his flight…
