Viewpoint: Bullish
Metal recycling business SGM has regained its mojo in 2020 as scrap metal prices recover helped by iron ores impressive advance since March – steel based producers obviously consider whether iron ore / coking coal or scrap is cheaper. The risk / reward is not overly exciting at current levels but a pullback towards $12 would spike our attention, especially as SGM fits our reflation view into 2021 – a 3% dividend also helps in today’s rate environment.
Yesterday we switched from Star Entertainment (SGR) to Crown Resorts (CWN) as flagged in the morning report, we subsequently received number of interesting / thought provoking comments around the move and I felt today was an opportune time to address some of the issues from our perspective:
Emerging Markets iShares ETF (IEM) aims to provide investors with the performance of the MSCI Emerging Markets Index, before fees and expenses. The index is designed to measure the equity market performance in global emerging markets.
The Trade Desk (TTD US) operates a software platform that allows for advertisers to buy digital screen time on various formats and devices. It operates a real-time bidding system, providing data about potential readership to potential advertisers.
Microsoft (MSFT US) is an international software company which develops and licences a range of personal and corporate computing programs, operating systems and cloud technology.
QBE Insurance (QBE) is an international general insurance company which looks to underwrite commercial, industrial and individual insurance policies.
AP Eagers (APE) sells both new and used motor vehicles through a range of dealerships and brands throughout Australia and New Zealand. AP Eagers also sources auto-parts and accessories, financing on sales, leasing options and extended warranties.
The Cboe Volatility Index, or VIX, is a real-time market index representing the market’s expectations for volatility over the coming 30 days.
Investors use the VIX to measure the level of risk, fear, or stress in the market when making investment decisions.
Traders can also trade the VIX using a variety of options and exchange-traded products, or use VIX values to price derivatives
Smart Group (SIQ) is an Australian based salary packaging and employee administration business. They predominately serve local corporations, not-for-profits and Government organisations along with a select few international clients.
Ramelius Resources (RMS) holds stakes in a number of gold producing and exploration assets across Australia. It’s tow main operations are the Mt Magnet mine and Edna May deposit, both in Western Australia.
