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It's a sea of red nos across Asia and Pacifica this morning. In Hong Kong the Hang Seng index slipped again as the People's Bank of China kept its policy lending rates unchanged for the 5th month. In late pm trading the HS index was down 330 points and 1200 (7%) since Jan 2.
In Sydney Mining and Energy tanked the ASX200 closing 81 lower, while Tokyo snapped a 6 session long rally off 283 by the close (35,619). Investors were well aware Dow futures were calling US mrkts down 130 and the ftse off 26 today. Both below their Jan '24 open.
Reversing the trend of the last 4-6 weeks, sellers got the upper hand yesterday. The shares sailed past 900 closing at 920-960 despite sell volume outpacing buyers by a ratio of 4:1.
Sellers were easily absorbed as market makers bid up the price. A total of c.42 deals were struck which is the current average deal number to date.
US mrkts were closed yesterday for Martin Luther King Day. The campaign for a Federal holiday in King's
honour began soon after his assassination in 1968. Ronald Reagan signed the holiday into law in 1983.
Morning all.
MSi mrkt cap tops £150m for the first time since it first started trading as a plc in July 1988. Let's hope its not going to take another 36 years to break £300m.
Averting a US Govt shutdown has boosted sentiment in Asia this morning. Energy & Gold led the advance amid signs of an escalating conflict in the Red Sea region where Houthi rebels continue to harass shipping.
Around 10% of global shipments and 33% of the world's oil pass within missile range of the Iran backed rebels. Safe haven demand has boosted gold as investors worry the Israeli/Hamas conflict could escalate into a wider war in the region.
Gold's rally to $2056 came after US & UK warplanes, ships and subs launched dozens of air strikes across Yemen in retaliation against Houthi forces for months of attacks on cargo boats in the Red Sea.
Japan is significantly higher extending gains of the last 5 sessions taking the Nikkei up c.8% to above the 32,800 level and fresh 34 year highs. The 225 closing up 344 at 35,921. Elsewhere in Asia Hongkong is expected to bounce after falling nearly 1000 points in a 7 day plunge and Shanghai is flat in morning trade. Pacificas trend mixed to higher while Sydney closed off 2 (7498) after a bright start.
Latest:- Vix 13. Brent $78.
Gold $2056. Copper $3•764.
Palm $935. Silver $23•410.
WTI $73. 10ytb 3•944%.
$1•275. €1•163.
FF +13. DF +21.
Morning all.
DJ -118 (37,593)
SP +4 (4784)
NS +12 (16,833)
R2 -3 (1270)
WTI $73
10ytb 3•944%
----------
MSCI(W) +11 (3168)
Gold Bugs +7 (233)
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Close :- Vix 13. Brent $78.
Gold $2049. Copper $3•735.
Palm $935. Silver $23•360.
$1•275. €1•164.
Yen 145. Yuan 7•16.
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Nyse data
Issues 2912
Advances 1543
Declines 1262
U/c 106
T/vol(bn) 3•5
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Morning all.
A big jump in deal & volume nos today saw MSi shares end the week (890-920) c.40p to the good. Buys again outpaced sells by 2:1 on just short of 150 trades. Investors are betting following Rishi Sunak's visit to Ukraine we could receive more orders for our Terrahawk drone killer Paladin Air defense system.
A 3p interim dividend will be paid next Friday to those holders on the register as of 22/12/2023, up from 1•75p last year.
Wk 2
MSi (890-920)
52wk (446-930)
Ytd +(3•4%)
L/yr (635p)
----------
Trades 149
T/vols 135,000
Buys 90,300
Sells 44,700
Buys % 67
Av trd 906
------------
Aim 745 (-2•4%)
250 19,198 (-2•5%)
Ftse 7625 (-1•4%)
All/S 4141 (-2•1%)
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Evening all
Https:www.wired.com/story/anduril-roadrunner-drone
Britain is to provide Ukraine with c
£2•5bn of support in their ongoing war against Russia. We may get a few quid. Don't expect to be informed.
On Wall stocks stage a late recovery after turning lower over the course of the morning session. The Dow fell as much as 270 points before clawing back losses, to end the day up 15.
A point of interest Microsoft ($383) briefly overtook Apple ($186) as the world's most valuable company following a 4% fall in the iPhone share price. The 2 companies have jostled for top dog for many years. Latest valuations Apple $2•886tn, Microsoft $2•858tn. Saudi Aramco no 3.
Most of the S&P major sectors declined as Banks were sold ahead of Q4 updates expected from JPMC, Citi, BOA and Wells Fargo. On the economy the US Labour Dept reported consumer prices rose more than expected in Dec and the nos of people filing new claims for benefits surprisingly fell to 202,000.
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Nyse Data
Issues 2916
Advances 1174
Declines 1631
U/c 111
T/vol(bn) 3•8
------------
DJ +15 (37,711)
SP -3 (4780)
NS +28 (16,821)
R2 -9 (1273)
WTI $74
10ytb 3•983%
-----------
MSCI(W) -4 (3157)
Gold Bugs -2 (227)
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Latest :- Vix 12. Brent $79.
Gold $2036. Copper $3•798.
Palm $950. Silver $23•010.
$1•277..€1•163.
FF +34. DF -17.
------------
Morning all.
Could be as the US Navy use the Arleigh-Burke class destroyer's guided missile. Not something the company are likely to comment on methinks.
Nyse data
--------
Issues 2911
Advances 1600
Declines 1220
U/c 91
T/vol(bn) 4•4
------------
DJ +171 (37,696)
SP +27 (4783)
NS +114 (16,793)
R2 +5 (1281)
WTI $72
10ytb 4•025%
----------
MSCI(W) +15 (3161)
Gold Bugs u/c (229)
----------------
Latest :- Vix 13. Brent $77.
Gold $2033. Copper $3•805.
Palm $920. Silver $23•185.
$1•277. €1•163.
FF +32. DF +100.
-------------
Morning all.
A good day yesterday in sp terms buys (70%) cont to outpace sells by 2•3:1, sp hit an intra-day high of 890, closed at 860-900.
DJ -158 (37,525)
SP -7 (4765)
NS +28 (16,679)
R2 -15 (1277)
WTI $73
10ytb 4•021%
----------
MSCI(W) -7 (3147)
Gold Bugs -4 (229)
---------------
Nyse data
Issues 2899
Advances 844
Declines 1963
U/c 92
T/vol(bn) 3•5
------------
Latest :- Vix 13. Brent $78.
Gold $2025. Copper $3•771.
Palm $900. Silver $23•040.
$1•270. €1•162.
FF -24. DF -57.
------------
Morning all.
Buys cont to outpace sells by nearly (4:1) shares down 10 to 845 at close. Stonehage Fleming sold today due to constraints on their 10% holding in any one stock. Norbert on ADVN says they hold 2 x 10% chunks of MSi in their Aim & opportunities funds.
Correction: 30p not %!
It's too early to take a view on where MSi shares are headed this early in '24. Though the bare nos would lead you to believe the shares are being dumped by investors worried that the company will stall on winning further contracts (as some believe), the actual nos paint a different picture.
For your info here's the first 5 days trading volumes. Usual caveats apply as to 100% accuracy due to misleading data at times.
Trades 142
T/vol 86,900
Buys 52,400
Sells 34,500
Buy% 60
Shares -30%
It was a mixed to lower day on the Street in morning deals as blue chips were clobbered by heavy falls in Boeing. But after 2pm the mrkts took a sudden upward surge climbing 250 in the last hour on the back of oversold mega caps. FAANGs led the rebound in Apple, Nvidia, Meta & Google.
Some Boeing Max 737 planes were temporarily grounded by US regulators after an Alaskan Airways Boeing Max 737-9 suffered a door panel blow out leaving a gaping hole in the fuselage. Luckily for passengers the door blowout occured as the plane was climbing after take off and was able to descend safely from around 16,000 ft. The terrifying descent lasted about 10 minutes.
By some miracle there were no casualties outside of the damage done to Boeings reputation which has raised questions over reliability and sloppy maintenance issues. Alaska & United have found loose bolts & other parts on a number of Max 737 planes.
Boeing were down some 8% at $220 propping up the DJ 30 index which was being led higher by big tech at mid session. The Dow off 55 after a near 200 drop on the Boeing news slipped to a 2 week low but recovered late on to end the day up 220.
Nyse data
--------
Issues 2912
Advances 2143
Declines 704
U/c 65
Tot/vol(bn) 3•7
------------
Latest :- Vix 13. Brent $76.
Gold $2030. Copper $3•821.
Palm $900. Silver $23•295.
$1•274. €1•167. 10y/tb 4•01%
FF +30. DF -46.
Morning all.
Google MSI- DS available jobs.