Market Update & Important Indicators
Major U.S. stock indexes climbed Monday, as shares of energy companies surged after oil prices broke above $70 a barrel for the first time since 2014. The Dow Jones Industrial Average advanced 0.4%. The S&P 500 rose 0.3%, flipping back into positive territory for the year, and the Nasdaq Composite added roughly 1%. Oil prices have risen more than 10% in the past month as U.S. President Donald Trump has indicated that the country will likely withdraw from a 2015 international agreement with Iran. That has helped spur a rally in energy stocks, which climbed 1.6% in the S&P 500 on Monday. The stock market's jump higher comes after Friday's jobs report showed that unemployment in the U.S. fell in April to one of the lowest levels of the post-World War II era. Higher oil prices gave the stock market a lift Monday but could push measures of inflation higher, stoking turbulence in markets, analysts have said. The U.S gold price lost 0.1% overnight to record 1,313.6 US$/Oz.
The Stoxx Europe 600 closed up 0.6% at 389.50 as European stocks benefitted from broad falls in the euro after weak German factory orders data and eurozone retail purchasing managers' index, and as the dollar strengthened. The euro dipped briefly below 1.19 against the dollar for the first time since late 2017, enough to boost the shares of European exporters and helping Germany's DAX to rise 1%. Trading was relatively subdued, however, with U.K. markets closed for a public holiday. Italy's FTSE MIB closed up 0.9% and Spain's Ibex 35 rose by 0.4%.
Stock markets in Hong Kong and Taiwan rose about 0.5% but Japan's Nikkei Stock Average was down 0.1% amid a rally for the yen and near-2% declines for brokerage stocks. South Korea's markets were closed Monday for a holiday. Meanwhile, Southeast Asian benchmarks extended their Friday declines amid broader worries about emerging markets, highlighted by the late-week swoon in Argentina. Headline stock indexes in Singapore and Malaysia fell about 0.5% early Monday. Trade talks between the U.S. and China in Beijing over the weekend ended with no major progress.
Bolstered by fresh gains in oil and metals prices, resources companies led another broad advance for Australian stocks. The benchmark S&P/ASX 200 settled 0.4% higher at 6084.5, reversing much of Friday's decline that snapped a 5-day winning streak. Energy and materials each rose 0.8% today, with heavily weighted BHP Billiton ahead by 1.5%. Meanwhile, a well-received F1H report from Westpac sent it up 0.8% also and Macquarie climbed a further 1.9% as analysts weighed in following Friday's FY beat. But Orica slumped 6.4% after its 1H numbers.
Overnight, the London Metal Exchange was closed due to the Early May Bank Holiday. Base metal prices were unchanged.
In this issue
Hazer (HZR) | March 2018 Quarterly Update | SPEC BUY
Market Cap $23.4m | Current Price $0.26
Recent management changes have been disruptive for the company and concerning for investors. However, the involvement of Mineral Resources (MIN) and the recent appointment of a MIN representative, Simon Rushton, to the board is positive in our view. To streamline the development of its technology and save costs, the company is moving its operations, including its demonstration plant to Perth from Sydney. HZR spent $1.3m on furthering its projects and at the end of the quarter had $7m in the bank.
Orthocell (OCC) | Positive Bone Study Results| SPEC BUY
Market Cap $28.5m | Current Price $0.345
OCC has announced positive results from a clinical study into its CelGro ® bone and soft tissue regeneration product. The study showed that CelGro ® outperformed other market leading products in the same class. OCC has appointed an Italian distributor, Bimar, to sell its product into the Italian market. This is the company’s first European distributer. The Company also has cash reserves on hand to progress US regulatory approvals and develop other products in its portfolio.
Recent Contacts & Presentations:
Great Boulder Resources (GBR), Orthocell (OCC), Northern Minerals (NTU), ABM Resources Ltd (ABU), Vital Metals Ltd (VML), Todd River Resources Ltd (TRT), Pacific Energy Ltd (PEA), Carnarvon Petroleum Ltd (CVN), Australian Mines Ltd (AUZ), Australian Finance Group (AFG), Paladin Energy Ltd (PDN), Cooper Energy Ltd (COE), Medibio Ltd (MEB), Botanix Pharmaceuticals Ltd (BOT), Salt Lake Potash Ltd (SO4), Golden Mile Resources Ltd (G88), NTM Gold Ltd (NTM), Ausmex Mining Group Ltd (AMG), Matrix C&E Ltd (MCE), Austal Ltd (ASB), Decmil Group Ltd (DCG), Ventnor Resources Ltd, Ausdrill Ltd (ASL), Alice Queen Ltd (AQX), PNX Metals Ltd (PNX), Alliance Resources Ltd (AGS), Myanmar Metals Ltd (MYL), Primary Gold Ltd (PGO), Sino Gas & Energy Holdings Ltd (SEH)
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