FYI | Jul 05 2013
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:
– Overnight commodity prices generally lower, though in mild fashion. Noticeable: #China spot #ironore up by US$1.50 to US$122 tonne
– BA-ML: unless #gold surges to US$1500/oz, and quickly, gold miners will generate more bad news; cost cutting, debt defaults, no divs, etc
– Both funny and accurate: BTIG strategist Dan Greenhaus advises his clientele to "trade like an Egyptian" #equities
– Reminder that the #xjo has closed +/-1.40% in 6 of the last 9 trading sessions. Looks like we're going for 7 from 10. Now off -1.34% #ausbiz
– Here's something not yet on (most) investors' radar: Cochlear (#COH) hedged AUDUSD at parity and stands to incur large losses in FY14
– Citi believes #China Q2 GDP growth might print 7.5% (7.7% in Q1). Government may continue to refrain from rolling out stimulus measures
– Goldman Sachs argues resources stocks are finding a bottom. Believes #BHP, #ILU and #RRL screen well in Australia #commodities #equities
– Morgan Stanley: growing oversupply and excess capacity makes us cautious across the whole [#commodities] sector at this point in the cycle
– Deutsche Bank warns consensus too positive on minerals exploration sector in years ahead; downgrades ALS (#ALQ) to Sell #equities
– Macquarie predicts Monadelphous (#MND) profits likely to fall by 17% in FY14, but share price correction too steep. Target $17. Neutral
– Macquarie believes Equity Risk Premium in Australia is 1 standard deviation cheap moving into reporting season (in August) #equities
– Following another profit warning from #BLY, CIMB states: limited scope for catalysts to unlock value, conditions remain difficult into CY14
– JP Morgan's Global Manuf PMI unchanged at 50.6 in June, suggests little change in underlying fundamentals, modest growth to remain in place
– JP Morgan issues first Overweight call for #Commodity Indices to investors since September 2010, but warns metals could still see weakness
– NAB analysts forecast #gold to end the calendar year at around US$1,210 an ounce. That's pretty much unchanged from where it is
– HSBC/Markit release #China PMI offers sobering read. Output down (1st time in 8 mths), jobs shedding, clients ordering less… 48.2 in June
– UBS: cautiously positive on #mining sector; cost cutting and AUD to underpin 2013 earnings. Focus cost cutting, re-balancing next #resources
– Says Macquarie: You don’t have to be a conspiracy theorist to think the timing of the election could influence the timing of RBA rate cuts
– Will parallel correlation between AUD and Oz #equities remain in place? For how long? AUDUSD at 91.50 on Monday morning
– Macquarie observes traditional positive correlation between rising bond yields and #resources stocks has reversed in past 5 years, outlook?
You can add my regular Tweets on Twitter via @filapek
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