Daily Market Reports | Jan 14 2025
This story features CATALYST METALS LIMITED, and other companies. For more info SHARE ANALYSIS: CYL
| World Overnight | |||
| SPI Overnight | 8211.00 | + 40.00 | 0.49% |
| S&P ASX 200 | 8191.90 | – 102.20 | – 1.23% |
| S&P500 | 5836.22 | + 9.18 | 0.16% |
| Nasdaq Comp | 19088.10 | – 73.53 | – 0.38% |
| DJIA | 42297.12 | + 358.67 | 0.86% |
| S&P500 VIX | 19.19 | – 0.35 | – 1.79% |
| US 10-year yield | 4.80 | + 0.03 | 0.57% |
| USD Index | 109.49 | + 0.52 | 0.47% |
| FTSE100 | 8224.19 | – 24.30 | – 0.29% |
| DAX30 | 20132.85 | – 81.94 | – 0.41% |
Equities remain under the cloud of global bond markets with the yield on 10-year US Treasuries in the overnight trading session briefly touching 4.80%.
The debate on Wall Street has quickly shifted from how many cuts? to whether the Federal Reserve will be raising interest rates later in 2025 and this in particular impacts on the pricing of equities trading on higher multiples.
Following a weaker opening major indices did recover to limit losses but still lose more territory, in case of the Nasdaq, or to close higher in case of the Dow.
The yield on the US 10y Treasury bond closed up around 3.3bp to 4.79%. WTI lifted 1% to US$78.9/bbl. Gold was down at US$2,660/oz.
Australian equities had a horror session yesterday and are expected to put in a better performance today.
SPI futures are suggesting modest gains for the ASX200 at the open.
There’s no such debate in Europe were the ECB remains on the path to continued economic stimulus through ongoing rate cuts.
Economists at ANZ Bank are pencilling in -150bp of easing this year, taking the policy rate to 1.50%.
Energy markets were buoyed by the prospect of tighter supplies amid renewed sanctions on Russia. Strong imports by China also supported sentiment.
Base metals and iron ore gained following the release of Chinese trade data.
On the calendar today:
-ANZ-Roy Morgan Australian Consumer Confidence
-Westpac-Melbourne Institute Consumer Sentiment
-Japan Nov BoP
-Japan Nov Trade Balance
Corporate news in Australia:
-The Western Australian government has approved Catalyst Metals’ ((CYL)) underground mining proposal for its Trident Gold project
-Telix Pharmaceuticals’ ((TLX)) revenue increased 46% quarter-on-quarter, with strong sales for its diagnostic radiopharmaceutical for prostate cancer imaging providing a boost
-Also; Telix is acquiring ImaginAb for -$73m
-MA Financial ((MAF)) launches $300m private credit trust on ASX
-Hells Angels boss Angelo Pandeli sues News Corp ((NWS)) for defamation
| Spot Metals,Minerals & Energy Futures | |||
| Gold (oz) | 2715.00 | + 23.09 | 0.86% |
| Silver (oz) | 31.31 | + 0.27 | 0.87% |
| Copper (lb) | 4.30 | – 0.01 | – 0.22% |
| Aluminium (lb) | 1.16 | + 0.01 | 0.82% |
| Nickel (lb) | 7.14 | – 0.14 | – 1.85% |
| Zinc (lb) | 1.29 | + 0.00 | 0.28% |
| West Texas Crude | 75.75 | + 1.47 | 1.98% |
| Brent Crude | 79.76 | + 2.62 | 3.40% |
| Iron Ore (t) | 98.72 | + 0.63 | 0.64% |
The Australian share market over the past thirty days
| Index | 13 Jan 2025 | Week To Date | Month To Date (Jan) | Quarter To Date (Jan-Mar) | Year To Date (2025) |
|---|---|---|---|---|---|
| S&P ASX 200 (ex-div) | 8191.90 | -1.23% | 0.40% | 0.40% | 0.40% |
| BROKER RECOMMENDATION CHANGES PAST THREE TRADING DAYS | |||
| ANZ | ANZ Bank | Upgrade to Equal-weight from Underweight | Morgan Stanley |
| AVH | Avita Medical | Downgrade to Speculative Hold from Buy | Bell Potter |
| WBC | Westpac | Downgrade to Underweight from Equal-weight | Morgan Stanley |
For more detail go to FNArena’s Australian Broker Call Report, which is updated each morning, Mon-Fri.
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CHARTS
For more info SHARE ANALYSIS: CYL - CATALYST METALS LIMITED
For more info SHARE ANALYSIS: MAF - MA FINANCIAL GROUP LIMITED
For more info SHARE ANALYSIS: NWS - NEWS CORPORATION
For more info SHARE ANALYSIS: TLX - TELIX PHARMACEUTICALS LIMITED