Argonaut welcomes Andre Rampono

Argonaut welcomes Andre Rampono to the Securities Team, initially to be trained as a DTR and to provide Dealer Assistant support to the Dealing Desk. The long term focus for Andre is for him to develop into a Private Client Advisor at Argonaut. Andre has spent the last 6 years working in Singapore. 


Morning Notes

U.S. stocks Thursday ended July with a more than 300-point selloff for the Dow Jones Industrial Average, a swoon that snapped a five-month winning streak for the broader market. Investors said an upbeat reading from the labour market sowed concerns about the Federal Reserve possibly raising rates quicker than many investors anticipate. Some pointed to disappointing earnings reports from U.S. companies Thursday, which disrupted what has been a strong season for corporate profits. The Dow dropped 317 points, or 1.9%, to 16,563 and the S&P 500 retreated 2.0% to 1,931.

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Latest Research

We have deferred some forecast FY15 project revenue from Keysbrook due to slower than expected progress toward a decision to proceed. This doesn’t detract from the solid work in hand position and only has a minor impact on our FY15 forecasts. We also pare back FY14 revenue by 4% (mainly due to the timing of the acquisition of Production Solutions). We maintain there is a lot to like about GNG as we enter FY15, including revenue visibility, balance sheet strength and an attractive dividend yield.

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