Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Rea 93 (58)
Cpo $629 ($1220)
Cif(R) $1160e
Oil $21
Gold $1739
Ftse +130 (5771)
All +65 (3173)
DJ + 454 (23,476)
SP + 63 (2779)
NS + 232 (8495)
R2 + 16 (1202)
$1•231
€1•139
IDR 15,440
Anglo 465
Dkl 1•90
Mpe 600
Virus (UK) Day 81.
129,044 cases
17,337 deaths
Covid-19
04:30
UK 4,395,703 (127,327)*
Indonesia 1,620,569 (44,007)•
* 2396 cases
* 20 deaths
• 5720 cases
• 230 deaths
DJ +316 (34,137)
SP +38 (4173)
NS +126 (13,935)
R2 +29 (1332)
WTI $60•86
10ytb 1•539%
Selected
Apple $133
Carnival $27
Coca Cola $55
Delta $46
Exxon $56
Fbk $301
JPMC $150
Msoft $261
Moderna $169
Tesla $741
Zoom $321
Nos:- Oil $65•02. Vix 17.
Gold $1794. Copper $4•270.
Palm $1220. Silver $26•580.
$1•394. €1•157. IDR 14,520.
MSCI(W) 2933. FF +27. DF -44.
Morning all.
Anglo Q1 2021 nos were impressive the combined FFB's up 30% as Cpo prices averaged $1078. At the mill price achieved was up $77 at $673 ($596). Shares rose 26 to 638 a ytd gain of 56 (9•6%). REA to report 2020 numbers in early May.
Only Shanghai bucks the sea of red share prices across Asia and the Pan Pacifics, both Chinese mrkts posting small rises as others battle a potential 3rd wave of infections.
Concerns over a spike in covid infections is de-railing mrkts. The Nikkei & broader Topix 500 both slumped 2% as the slow pace of vaccinations (1%) of 126•1m of the population have had the jab.
SK have vaccinated c.3% of the 51•3m pop compared to the UK & US at c.40%. Of course we had many more cases to deal with.
At JST 1:00pm
TK -520
HK -480
SH +5
SHZ +5
SK -51
TAIX -60
KL -7
STI -40
JSX -37
ASX -68
Rea 98 (58)
Cpo $638 ($1199)
Cif (R) $1185e
Oil $20
Gold $1693
Ftse -172 (5641)
All -92 (3108)
DJ -632 (23,019)
SP -87 (2737)
NS -297 (8263)
$1•225
€1•128
IDR 15,569
Anglo 457
Dkl 1•90
Mpe 590
Virus (UK)
124,743 cases
16,509 deaths
Covid-19
04:00
UK 4,393,307 (127,307)*
Indonesia 1,614,849 (43,777)•
* 2524 cases
* 33 deaths
• 5549 cases
• 210 deaths
DJ -256 (33,821)
SP -28 (4135)
NS -98 (13,809)
R2 -30 (1304)
WTI $62•61
10ytb 1•566%
Selected
Apple $132
Boeing $233
Carnival $26
Coca Cola $54
Delta $44
Exxon $55
Fbk $301
GE $13
GM $56
JPMC $149
Msoft $258
Moderna $156
Tesla $712
Zoom $319
Nos:- Oil $66•13. Vix 19.
Gold $1783. Copper $4•230.
Palm $1199. Silver $25•940.
$1•393. €1•158. IDR $14,525.
MSCI(W) 2944. FF -2. DF -31
Morning all.
A surge in Covid-19 cases in India, Delhi recorded c.25,500 cases in a 24 hour period with 1 in 3 testing positive hit demand expectations. Expected rising output from Malaysia has also hit Mal palm oil futures to R3710pt.
Palm oil has failed to attract fresh buying from destination countries due to high prices. In Indonesia inventories at end Feb are seen falling to 4•04mt and the mrkt estimates Indonesia palm oil output in March to increase by double digits and exports multifold.
Palm oil companies face an increase in duty for May on exports to $144 pt from $116pt. With levy the deductions total $399pt (34%) of the current cpo price.
Rea 98 (58)
Cpo $663 ($1181)
Cif(R) $1185e
Oil $27
Gold $1712
Ftse 5813
All 3201
DJ -592 (23650)
SP -51 (2823)
NS -89 (8561)
R2 -16 (1213)
$1•246
$1•146
IDR 15,458
Anglo 487
Dkl 1•90
Mpe 590
Virus (UK)
(80 days since first case)
120,067 cases
16,060 deaths
Covid-19
04:00
UK 4,390,783 (127,274)*
Indonesia 1,609,300 (43,567)•
* 2693 cases
* 4 deaths
• 4952 cases
• 143 deaths
DJ -123 (34,078)
SP -22 (4163)
NS -134 (13,908)
R2 -15 (1333)
WTI $63•38
10ytb 1•610%
Selected
Apple $135
Boeing $243
Carnival $27
Coca Cola $54
Delta $46
Exxon $57
Fbk $303
GE $13
GM $58
JPMC $153
Msoft $259
Moderna $163
Tesla $722
Zoom $325
Nos:- Oil $67•55. Vix 17.
Gold $1767. Copper $4•259.
Palm $1181. Silver $25•830.
$1•399. €1•161. IDR 14,514.
MSCI(W) 2944. FF-5. DF +66.
Morning all.
Mrkts closed
Virus (UK)
114,217 cases
15,464 deaths
Days since first reported case in the UK (79).
Covid-19
05:00
UK 4,387,820 (127,270)*
Indonesia 1,604,348 (43,424)•
* 1882 cases
* 10 deaths
• 4585 cases
• 96 deaths
Only 2 of Asia's markets are in the red, Jakarta & KL. The others are trending up in quiet trading, Shanghai stocks are showing the bigest gains up c1•5%. In Tokyo techs led the risers as the Nikkei clawed back early losses to trade 65 up. Semi conductor output is being ramped up due to the global shortage of chips and Japan and the US have agreed to cooperate on supply chains.
A spike in covid infections (Japans infection rate is 4199 per 1,000,000) one of the lowest in the region is prompting Tokyo to consider another State of Emergency. The slow pace of vaccinations has kept many investors away from the markets which are lagging those in the US and Europe. Since end Q1 the ftse has gained 5% the Dow 4% & the Nikkei 2%.
Nos: Oil $66•43. Vix 16.
Gold $1779. Copper $4•205
Palm $1164. Silver $25•905.
$ 1•383. €1•157. IDR 14,565.
MSCI(W) 2953. FF +8. DF-101.
Morning all.
Mrkts closed.
Virus (UK)
108,692 cases
14,576 deaths
Covid-19
06:00
UK 4,385,938 (127,260)*
Indonesia 1,599,763 (43,328)•
* 2368 cases
* 35 deaths
• 5041 cases
• 132 deaths
At some point and nobody knows when the Stock Market will crash or have a severe correction. Over the years from the Tulip mania of 1637 through the '29 crash, the dot.com bubble there have been many, 51 to be precise of varied types of crashes, corrections spread around the world. I include the latest pandemic crash the shortest on record.
Many say in 2021, valuations are 'artificially' stretched especially in the US caused in part by thousands of first time investors pulled into the markets by talk of easy money on chat rooms and the ease of trading at almost zero cost. Many know not what they do having never experienced a downturn and the risk to their bank balances. They chase obscure companies touted on redditt and the likes, hoping to make some quick money.
Take Gamestop a sleepy retailer going nowhere as a classic example. The company became an overnight sensation topping News Broadcasts the world over. Their stock price went from a few $ to over $400 in a day or so before tanking to $41 on the back of pis chat room frenzy. Current price $159.
Speculative assets like Bitcoin and SPACS (don't ask) almost anything that moves attracts the bored out of work punter to chance his arm. Value and longterm investors had discarded Gamestop as a no hoper only to be wrong footed by the redditt army of retail investors who buy for one reason only they think the sp is going up! You could say they thought and acted faster than the slow coach professionals who were caught unawares with short positions and were given a right drubbing as GS shares soared. They were none too pleased and attempted to get the rules changed so they were the only people allowed to make money. They failed.
Most investors tend to ride out crashes, they happen too quickly for Joe Public to react. Unless they have to realise a loss, their wealth will likely remain unchanged showing only a paper loss so their disposable income into the real economy may not be greatly effected. Some companies will see their earnings slump and their shares suffer but while President Biden and the Fed Reserve pump money around the economy keeping mrkts buoyant, share prices in the main are pulling ahead and keeping the next downturn at arms length.
Rea 98 (56)
Cpo $669 ($1172)
Cif (R) $1170e
Oil $28
Gold $1704
Ftse +159 (5787)
All +88 (3190)
DJ +705 (24,242)
SP +75 (2875)
NS +118 (8650)
R2 +51 (1229)
$1•251
€1•151
IDR 15,471
Anglo 457
Dkl 2•25
Mpe 590
Virus (UK)
103,093 cases
13,729 deaths
Pubs have been closed for 4 weeks and the country is in total lockdown.
Covid-19
06:00
UK 4,383,572 (127,225)*
Indonesia 1,594,722 (43,196)•
* 2596 cases
* 34 deaths
• 5363 cases
• 123 deaths
DJ +165 (34,201) R
SP +15 (4185) R
NS +16 (14,042) R
R2 +4 (1348)
WTI $63•07
10ytb 1•584%
US markets had a good week the Dow added 235, the 500 up 41, Nsdq put on 181 and R2 gained 9 leaving the Dow, 500 and Nsdq at record closes.
The lowest jobless claims (576,000) since the pandemic started, the pace of vaccinations, Govt cheques to citizens all boosted sentiment and buyers were out in force. Retail sales surged c.10% and Bond yields slipped to 1•584%. Tensions with Russia and China were largely ignored.
Selected
Apple $134
Boeing $247
Carnival $27
Coca Cola $54
Delta $47
Exxon $57
Fbk $306
GE $13
GM $59
JPMC $153
Msoft $261
Moderna $ 171
Tesla $739
Nos :- Oil $66•87. Vix 16.
Gold $1777. Copper $4•164.
Palm $1173. Silver $26•040.
$1•384. €1•155. IDR 14,565.
MSCI(W) 2953.
Morning all.
Rea traded flat to close at 56 on 31,800 traded, while other London palms were mixed. Anglo fell 14 (602), Dkl was off •60 (4•55) and Mpe added 18 (736). The KLPI fell again on the week and ytd trades down 6%.
Meanwhile Cpo had other ideas and continued the strong Q1 run, adding $37 on the week closing at $1174 and ytd averages $1036 ($699) some 48% better than last year.
Palm % ytd.
Anglo up 4%
Dkl up 7%
Mpe up 12%
Rea u/c
Cpo up 20%
Its blue but a very muted response from Asia this morning after US mrkts scaled new record closes. Continuing tensions between Beijing and Washington, a poor US Dow futures checked advances across the region.
China's GDP came in at 13•8% in Q1 lower than the consensus 19% forecast but well ahead of Q4 2020 (6•5%). The data supported a solid recovery in the world's second bigest economy.
At JST 2:20
TK +44
HK +61
SH +18
SHZ +8
SK +3
TAIX +21
KL -6
STI +14
JSX -4
ASX -4
Rea 98 (58)
Cpo $667 ($1166)
Cif(R) $1170e
Oil $27
Gold $1731
Ftse 5628
All 3102
DJ 23,538
SP 2860
NS 8532
R2 1178
$1•244
€1•147
IDR 15,666
Anglo 457
Dkl 2•25
Mpe 580
98,476 cases
12,868 deaths
Covid-19
06:00
UK 4,389,976 (127,191)*
Indonesia 1,589,359 (43,073)
* 2671 cases
* 30 deaths
• 6177 cases
• 167 deaths
Global
139,693,934 cases
2,999,557 deaths