FYI | Mar 07 2014
By Rudi Filapek-Vandyck, Editor FNArena
I joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently. Twitter allows me to follow news and commentary sources such as Dow Jones' Marketwatch, Bloomberg News and the Wall Street Journal. It assists me in keeping up with what is happening across the globe, while I am observing and analysing financial markets myself.
While I am on Twitter, reading a quote here and a news flash there, I offer my own succinct insights and commentary. Those amongst you who have already discovered the virtues of a Twitter account can add my Tweets to their daily news via @filapek.
For those who have no intention to join Twitter, but would like to stay up to date, below are my Tweets from the week past:
– Noteworthy… This remarkable bull market in #equities has been built on liquidity and pessimism, not on growth and optimism (BA-ML)
– BA-ML strategists: risks to Aussie #banks from transition away from the mining investment boom are 12 months away. Remain mildly underweight
– Deutsche Bank suggests "sample rotation" among smaller retailers might be behind ABS' Jan Retail numbers surprise. Lies,Damn Lies and Stats?
– Morgan Stanley: Indonesian ban will eventually pinch supply, but #nickel market remains in unhealthy state persistent, rising oversupply
– Morgan Stanley maintains: Flight Centre (#FLT) is a great buy and profit growth will be better than consensus. Price target rises to $60
– CLSA has initiated Whitehaven Coal (#WHC) with Sell rating, arguing market pricing in potential upside while #coal prices below consensus
– Credit Suisse notes #IAG shares trading at 25% discount to market. Historically a rather rare event. Market worries no approval acquisition
– Overnight: pretty much everything up. US #equities, #oil, #gold, base #metals and even #ironore up by US20c to US$116.90 a tonne #investing
– Fortescue (#FMG) shares bucking trend today on positive Bell Potter report. Switch from diesel to gas to deliver significant cost savings
– GS' strategy update: go Underweight #Resources, short mining services, go Underweight Staples, go Neutral #Banks, prefer offshore, housing
– Goldman Sachs sees downtrend persisting for #ironore this year, with price estimate US$105/t for Q3 and US$100/t for Q4; US$80 average 2015
– Not surprised. Moelis initiated coverage on Veda Group (#VED) with Buy calling it a "core mid-cap portfolio holding". All-Weather Stock
– UBS still thinks #healthcare stocks in Oz are attractive, it's just there is no catalyst for the sector in sight… #investing
– Corporate bond defaults have commenced in #China with 11 Chaori Bond (coupon 8.98%, 5 years) the first to default tomorrow. No panic
– Overnight: Ukraine rally evaporating. #equities down, #oil down. #Gold little up. Base #metals mixed lower. #ironore down US10c to US$116.70
– Oz reporting season confirmed trend that has not yet caught everyone's attention: http://ow.ly/ufsfP All-Weather Stocks rule #investing
– NAB revisits #commodities forecasts: continue to expect only modest recovery in demand, but the recovery is expected to be bumpy #investing
– Trading Idea from Morgan Stanley: Oil Search (#OSH) to fall relative to sector over next 30 days post rally, valuation less compelling
– Foster Stockbroking nominates Ukraine-crisis inspired trading buys: PAN, OSH, BPT, LNG, PDN, WHC, and GNC #investing
– Nice work from CBA's Agricommodities team: Putin a floor under global #grain markets. US grain markets closed stronger again #investing
– Overnight: Safe havens out, #equities bounce. #Oil lower. Base #metals up, but #copper remains subdued. #Ironore down US90c to US$116.80/t
– Morgan Stanley's favourites among A-REITs: GMG, DXS, ARF, FDC, LLC, NSR and SGP #investing #yield
– Goldman Sachs' small and midcap Focus List now comprises of AUB, BKL (added), DLS, DSH, FXL, KMD, SAI, SFW, SKE, SUL TME removed #investing
– Macquarie observes: Aus market’s FY14 forecast remains on track to deliver absolute earnings slightly ahead of FY07 prior peak #investing
– Overnight: Safe havens higher. US #equities down. #Oil up. Base #metals lower. #Ironore down US40c to US$117.70/t #investing
– UBS summarises it best: #banks unlikely to out-perform in further market rallies, while the risk of multiple normalisation cannot be ignored
– JP Morgan also agrees with me: "changes in market structure are much more powerful for earnings power of companies than macro fluctuations"
– Concludes JP Morgan: Feb reporting season proved yet another reminder that profitability can be very sound in lacklustre economy #investing
You can add my regular Tweets on Twitter via @filapek
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