Viewpoint: Bullish
Similar to our own US yields have pulled back aggressively over recent months on waning belief towards improving economic growth. Our view is the next major swing will be up and we’re looking for a catalyst in the US to set these wheels in motion.
The ASX200 powered to fresh all-time highs yesterday even while China regulators hammered certain pockets of the market and the COVID numbers out of Sydney continue to worsen by the day. Overnight the Australian Financial Review (AFR) was flagging another month of lockdown for Sydney but equities are just shrugging off…
Glencore plc (GLEN LN) is a diversified natural resources company. The Company operates in three groups, metals and minerals, energy products, and agricultural products. Glencore offers its products and services around the world.
OZL +6.53%: posted FY21 and June quarter production numbers today and they were strong in a number of respects. Production increased ~22% on the softer March quarter and the new run rate implies that the company will hit the mid-point of full year guidance (December year-end) – some thought this was going to be a stretch after a…
TPW +7.41%: one of the first companies to report this period, FY21 was a strong year for online furniture business Temple & Webster. Revenue up 85% helped EBITDA jump 141% for the year with strong operating margins also helped by the launch of their private label offering.
3PL provides online education from kindergarten through to year 12 with it clearly in a very similar space to the Chinese peers which are under immense pressure. However we believe there remains a huge market for 3PL in the “free world” and following its $185m merger with leading EdTech platform Blake we see excellent prospects for the…
This morning BHP is poised to open at fresh all-time highs around $53.50 but when I take a quick glance at the stock in the US and combine this with MM’s bullish viewpoint towards reflation I remain optimistic with a test of $60 feeling very realistic.
Overnight saw another solid session for US stocks with the Dow finally poking its head into uncharted territory, it’s taken a while for the old stalwart to follow the likes of the tech stocks but it got there in the end. Our medium-term target of ~36,000 is the next psychological milestone and its now less than 2.5% away.
We mentioned CSR in our Saturday “Ask James” report, for those that missed it here’s a quick update on the building product manufacturer – we see excellent value in the stock following its ~20% correction, the economic backdrop should look good for the business as the world continues to bolster activity with masses of stimulus.
The ASX200 closed unchanged on Monday after registering new all-time highs early in the morning only to drift lower throughout the day to ultimately close around the day’s low with almost 60% of stocks closing in the red.
