George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Mrkts closed (Good Friday).
65,077 cases
7978 desths
Covid-19
04:30
UK n/a (127,040)*
Indonesia 1,558,145 (42,348)•
* 60 deaths
• 5265 cases
• 121 deaths
DJ +297 (33,801) R
SP +32 (3380) R
NS +87 (13,845)
R2 +2 (1335)
WTI $59•34
10ytb 1•660%
Selected
Apple $133
Boeing $251
Carnival $29
Delta $49
Exxon $56
Fbk $312
GE $14
GM $60
JPMC $156
Moderna $142
Msoft $266
Tesla $677
Nos:- Oil $63•05. Vix 17.
Gold $1744. Copper $4•047.
Palm $1134. Silver $25•325.
$1•372. €1•152. IDR 14,565.
MSCI(W) 2896.
Morning all.
Cpo gained $40 on the week closing at $1134 and ytd is up 16%, averaging through wk 14 ($1028)/($703). London palms were quiet, REA fell 2 Anglo added 10, Mpe put on 20 and Dkl gained •20. The KLPI is off 4•4% ytd.
Rea 98 (59)
Cpo $648 ($1141)
Cif (R) $1115e
Oil $34
Gold $1729
Vix 43
Ftse +165 (5843)
All +93 (3233)
DJ (23,719)
SP (2790)
NS (8154)
R2 (1247)
$1•244
€1•138
IDR n/a
Anglo 468
Dkl 2•25
Mpe 565
60,733 cases
7097 deaths
Covid-19
04:30
UK 4,370,321 (126,980)*
Indonesia 1,552,880 (42,227)•
* 3030 cases
* 53 deaths
• 5504 cases
• 163 deaths
DJ +57 (33504)
SP +27 (4097) R
NS +142 (13,759)
R2 +7 (1332)
WTI $59•36
10ytb 1•636%
Selected
Apple $131
Boeing $253
Carnival $29
Coca C $53
Delta $50
Exxon $56
Fbk $314
GE $13
GM $60
JPMC $155
Msoft $254
Moderna $134
Tesla $687
Nos:- Oil $63•14. Vix 17.
Gold $1753. Copper $4•068
Palm $1141. Silver $25•375.
$1•373. €1•154. IDR 14,550.
MSCI(W) 2881. FF+8. DF+2.
Morning all.
Strange goings on in Malaysia.
The KLPI runs 5% down ytd against CPO up 17%. Worker shortage, the virus, a fall in output can this be responsible for such a difference?
Over in W.Africa Dkl continue to produce record numbers but again the sp shows little movement well short of the Arden forecasts. I expect much the same to happen here, better revs, reduced borrowings output flat to up
profits dependent on no major extraordinaries, shares stuck in a rut.
Rea 98 (59)
Cpo $660 ($1135)
Cif(R) $1170e
Oil $32
Gold $1688
Vix 43
Ftse (5624)
All (3140)
DJ +780 (23433)
SP +91 (3750)
NS +204 (8091)
R2 +52 (1192)
$1•240
€1•142
IDR n/a
Anglo 450
Dkl 2•40
Mpe 555
55,242 cases
6159 deaths
Covid-19
O6:00
UK 4,367,291 (126,927)*
Indonesia 1,547,376 (42,064)•
* 2762 cases
* 45 deaths
• 4860 cases
• 87 deaths
DJ +16 (33,446)
SP +6 (4080) R
NS +38 (13,617)
R2 -18 (1325)
WTI $59•41
10ytb 1•668%
Selected
Apple $128
Boeing $252
Carnival $29
Coca Cola $53
Delta $50
Exxon $57
Fbk $314
GE $13
GM $61
JPMC $156
Moderna $132
Msoft $250
Tesla $672
Nos :- Oil $62•84. Vix 17.
Gold $1740. Copper $4•078.
Palm $1135. Silver $25•185.
$1•376. €1•158. IDR 14,545.
MSCI(W)2876. FF+22. DF+67.
Morning all.
Tight supplies of Palm Oil are expected to keep prices elevated with low inventory of palm and global edible oils supply. The average cpo price recorded a new monthly high in March (m-o-m) and 70% (y-o-y) to RM 4042pt. CGS-CIMB Research est Malaysian Palm Oil inventories declined by 24% (y-o-y) to 1•31mt end March 2021.
The research house said inventory level figs were consistent with historical trend that palm oil stocks had been declining at an average 1% (m-o-m) over the last 10 years. Going by this the House foresees cpo prices hovering between RM 3500-RM 4000pt
this month and to average RM 2900-2700 for 2021/2.
The House said that the Indo Govt biodiesel policies must be closely watched as any changes that increases the levy to fund B40 will be bullish for cpo prices but the impact on planters will favour Malaysian upstream planters and Indonesian refiners.
Rea 97 (59)
Cpo $650 ($1147)
Cif(R) $1140e
Oil $33
Gold $1677
Ftse +122 (5707)
All +82 (3141)
DJ 22,654
SP 2659
NS 7887
R2 1139
$1•233
€1•132
IDR 16,167
Anglo 450
Dkl 2•50
Mpe 580
51,608 cases
5373 deaths
Covid-19
04:00
UK 4,364,529 (126,882)*
Indonesia 1,542,516 (41,977)•
* 2379 cases
* 20 deaths
• 4549 cases
• 162 deaths
DJ -97 (33430)
SP -4 (4074)
NS -20 (13578)
R2 -2 (1344)
WTI $59•28
10ytb 1•662%
Selected
Apple $126
Boeing $255
Carnival $28
Coca Cola $53
Delta $52
Exxon $56
Fbk $306
GE $13
GM $62
JPMC $153
Msoft $248
Moderna $134
Tesla $692
Nos:- Oil $62•71. Vix 18.
Gold $1739. Copper $4•098.
Palm $1147. Silver $25•145.
$1•383. €1•165. IDR 14,491.
MSCI(W) 2873. FF +13. DF +8.
Morning all.
Rea 96 (59)
Cpo $628 ($1122)
Cif(R) $1140e
Oil $33
Gold $1689
Ftse +167 (5582)
All +100 (3059)
DJ +1627 (22680)
SP +175 (2664)
NS +540 (7913)
R2 +87 (1139)
$1•230
€1•148
IDR 16,455
Anglo 433
Dkl 2•50
Mpe 545
Virus (UK)
47,806 cases
4934 deaths
Covid-19
05:00
UK 4,362,150 (126,862)*
Indonesia 1,537,967 (41,815)•
* 2762 cases
* 26 deaths
• 3712 cases
• 146 deaths
Global
132,413,672 (+9579) cases.
2,873,680 (+417) deaths.
DJ +374 (33,527) R
SP +58 (4078) R
NS +269 (13,598)
R2 +6 (1346)
WTI $59•27
10ytb 1•692%
Selected
Boeing $259
Apple $123
Carnival $28
Coca Cola $53
Delta $50
Exxon $56
Fbk $298
GE $13
GM $61
JPMC $154
Msoft $242
Moderna $130
Tesla $662
Nos:- Oil $62•70. Vix 18.
Gold $1734. Copper $4•087.
Palm $1122. Silver $24•925.
$1•389. €1•177. IDR 14,518.
MSCI(W) 2873. FF -20. DF-77.
Morning all.
A blow out US jobs report on Friday (916,000) jobs added, kick started overnight futures on Sunday. The DJI jumping 200 points ahead of opening today since trimmed. Record daily vaccinations of c.3m are underpinning sentiment.
Only 5 mrkts are open in Asia today:- At JST 2:00pm.
TK +258
SK u/c
KL -3
STI +26
JSX -28
Nos:- Oil $64•26. Vix 17.
Gold $1724. Copper $4•054.
Palm $1106. Silver $24•840.
$1•383. €1•176. IDR 14,520.
MSCI(W) 2842. DF +41.
Morning all.
Mrkts closed
Virus (UK)
41,903 cases
4313 deaths
Covid-19
05:30
UK 4,359,388 (126,836)*
Indonesia 1,534,255 (41,669)•
* 2297 cases
* 10 deaths
• 6731 cases
• 427 deaths
Global
131,919,922 (+13,973) cases
2,866,006 (+237) deaths.
Floperoo, cazoo (to come) & techs are not the only assets getting dumped. Check US Treasuries and UK Gilts the yield on the 10yr t/bill has climbed from •7% to 1•7% which has pricked the 'puff' in tech stocks reliant on leverage & cheap money. Tesla a classic example fell 10% last month but has been on the slide since 'mouthy' Musk opined on GameStop and other non electric car matters.
He may be ahead on his Bitcoin gamble but hardly a gilt edged investment is it?
Analysts have been predicting a tech rout for a good few years and if bond yields cont upwards expect further falls, as much as 30% from here some say, which would take the Nsdq Comp to c.9000. No'one is sure how a fall of that magnitude would effect the real economy.
Rising gilt yields will feed through to higher mortgage costs. In the US, long term mortgage rates are up 6 weeks in a row to c.3•20%. Borrowing costs are going up and there are fears a credit crunch is around the corner that wouldn't help the recovery or US borrowings.
Gold normally a safe haven has been sliding this year but gold bulls say the corner has turned and a new leg up has started. Popular belief is that rising rates are bad for Gold but noone is 100% sure, as during the huge bull market of gold in the 70s rates were high and rising. The correlation between high or low rates and gold prices are unproven statistically.
I intend to buy some physical Gold on the chance that Gold heads upwards and bond yields continue to attract savers cash.
Apple, Msoft and Amazon have overtaken Saudi Aramco as of March 2021.
1. APPLE $2103
2. MSOFT $1828
3. AMAZ $1592
1. RDSA+B (110•6bn)
2. Unilever (106•3bn)
3. AZ (95•4bn)
4. HSBC (86•1bn)
5. Diageo (69•8bn)
6. Rio T (69bn)
7. GSK (65•2bn)
8. BAT (63•7bn)
9. BP (61•6bn)
10. Reckitt B (45•4bn)
On the Global list of 100 most valuable Companies, RDSA+B would rank at 80.
Saudi Aramco is the most valuable at $1685bn.
Mrkts closed.
UK
38,168 cases
3605 deaths
Global
1,117,787 cases
59,197 deaths