Oil prices logged modest losses  - WTI lost -US$0.32c or -0.3% to US$108.11/barrel. Brent eased -US$0.35c or -0.3% to US$111.28/barrel.  In broader energy market moves, natural gas prices in Europe surged on Monday (4 July) to their most expensive since the early stages of Russia’s invasion of Ukraine as proposed strikes in Norway increased fears about inadequate supply. August natural gas futures on the Dutch-based TTF trading hub at one point rose more than >10% to change hands above >€160 a megawatt-hour. A year ago the product traded for €22.4. The ICE U.K. Natural Gas contract jumped +20% to 289.29 pence per British thermal unit , compared to 93.12p per British thermal unit months ago. There were reports that industrial action by workers would see six Norwegian natural gas fields shut down over the next few days, potentially cutting the major exporter’s supply by 13%. Elsewhere, the head of Germany’s regulatory agency for energy, Federal Network Agency President Klaus Mueller, called on residents Saturday (2 July) to save energy and to prepare for winter, when use increases. Mr Mueller said families should start talking now about “whether every room needs to be set at its usual temperature in the winter - or whether some rooms can be a little colder.” Separately, German Economy Minister Robert Habeck said the country should be prepared to cut further Russian gas supplies as President Vladimir Putin adopts a conscious strategy of raising prices to undermine European unity, and warned utilities are at risk of cascading failures, which may require activating a legal clause that would allow them to pass on price increases outside of contract commitments. Mr Halbeck said Germany refrained from activating the measure for now because it would lead to an “immediate price explosion” for consumers. The government is working on an alternative, he said, without elaborating.

Morgans AM: Tuesday, 5 July 2022

At the Noosa Mining and Exploration Conference 2022, Chris Cairns, Managing Director of Stavely Minerals, spoke to Senior Analyst Chris Brown about their latest project in Victoria, a high-grade, copper-gold-silver mineralisation, the Cayley Lode, its current progress, and its initial Mineral Resource Estimate results.

You can watch back the presentations from the conference by following this link: https://www.noosaminingconference.com.au/

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Chris Cairns, Managing Director of Stavely Minerals (SVY:ASX) | Noosa Mining Conference 2022

At the Noosa Mining and Exploration Conference 2022, Richard Laufmann, Managing Director of Rex Minerals, spoke to Senior Analyst Chris Brown about their Hillside Copper Project in South Australia.

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Richard Laufmann, Managing Director of Rex Minerals (ASX:RXM) | Noosa Mining Conference 2022

Positive corporate earnings releases set a strong tone on US equity markets overnight, lifting the benchmark indices solidly across-the-board - Dow up +416-points or +1.29% to 32,812.50, settling ~9.8% above its 52-week closing low (29,653.29) hit on 17 June.  The broader S&P500 +1.56%, Information Technology (up +2.69%), Consumer Discretionary (+2.52%) rising over >2.5% to lead ten of the eleven primary sectors higher. Energy (down -2.97%) was the only primary sector to close in the red.  The Nasdaq rallied +2.58%. PayPal Holdings Inc rallied +9.52% after it raised its full year earnings guidance after the close of the previous session, announced a new US$15B share-buyback authorisation, a cost-savings program, and confirmed  activist investor Elliott Management had acquired an over >US$2B stake in the financial technology firm.  Apple Inc (3.82%) and Amazon.com Inc (+4.01%) both climbed over >3.5%, while Facebook parent Meta Platforms Inc (+5.37%) gained over >5%. There were reports that Meta may become the latest technology company to turn to the bond markets in a bid to raise capital.  The S&P 500 and the Nasdaq are now up ~13% and ~19% respectively from their mid-June lows. The small capitalisation Russell 2000 rose +1.41%.

Morgans AM: Thursday, 4 August 2022

At the Noosa Mining and Exploration Conference 2022, Tony Schreck, Managing Director of Pacgold Limited, spoke to Senior Analyst Chris Brown about their recent high-grade gold discovery at its 100% owned Alice River Gold Project in North Queensland.

You can watch back the presentations from the conference by following this link: https://www.noosaminingconference.com.au/

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Tony Schreck, Managing Director of Pacgold Limited (ASX:PGO) | Noosa Mining Conference 2022

A mixed session on US equity markets ahead of the key monthly jobs report tonight AEST - Dow eased -86-points or -0.26%, The broader S&P500 dipped -0.08%, Consumer Discretionary (up +0.54%) and Information Technology (+0.42%) leading seven of the eleven primary sectors higher. The Nasdaq added +0.41% to  a fresh 3-month high of 12,720.58, with Amazon.com Inc (up +2.19%) and Advanced Micro Devices (+5.93%) notable performers. Energy (down -3.60%)  was the worst performing sector for a second consecutive session. The small capitalisation Russell 2000 lost -0.49%.  Coinbase Global Inc jumped +10.01% after it announced a tie-up with BlackRock (+0.79%) to provide its institutional clients access to crypto trading and custody services.

Morgans AM: Friday, 5 August 2022

Senior Analyst Nick Harris previews the Technology and Telecommunication sector stocks under his coverage. These include stocks that have and also have yet to report their results. 

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Technology & Telecommunication Sector Preview: Reporting Season, August 2022

US equity markets a little weaker on Friday (5 August) after a solid July jobs report undermined recent optimism that the Federal Reserve might let up its aggressive campaign to reign in decades-high inflation - Dow added +77-points or +0.23%, JPMorgan Chase & Co (up +3.03%) and Goldman Sachs Group Inc (+0.84%) The broader S&P500 slipped -0.16%, with Consumer Discretionary (down -1.66%) leading six of the eleven primary sectors lower. Energy (up +2.04%) returned to the top of primary sector leaderboard. Tesla Inc fell -6.63%, with shareholders at last Thursday’s (4 August) Annual General Meeting (AGM) approving a proposal expected to lead to a 3-for-1 stock split and sided with the company on most of the proposals up for a vote. The Nasdaq fell -0.5%. Meta Platforms Inc fell -2.03% and Amazon.com Inc -1.25%.  The small capitalisation Russell 2000 rose +0.81%.  Carvana Co soared +40.07% following the used car group’s second quarter result after the close of last Friday’s (5 August) session.

Morgans AM: Monday, 8 August 2022

At the Noosa Mining and Exploration Conference 2022, Barry Cahill, Managing Director of Cyprium Metals Limited, spoke to Senior Analyst Chris Brown about their Nifty Copper Mine Project in Western Australia.

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Barry Cahill, Managing Director of Cyprium Metals Limited (ASX:CYM) | Noosa Mining Conference 2022

US equity markets mixed, relinquishing earlier session gains as investors eye a pair of inflation reports later in the week - Dow added +29-points or +0.09%, paring an earlier rally of as much as +306-points. The broader S&P500 slipped -0.12%, with Information Technology (down -0.88%) the key drag and among four of the eleven primary sectors to settle in the red. Real Estate (up +0.70%) and Materials (+0.55%) both rose over >0.5%. The Nasdaq -0.10%. Nvidia Corp dropped -6.30% after the semiconductor company disclosed that it expects to fall well short of revenue expectations for its latest quarter, largely due to gaming weakness (with revenue for this sector expected to fall -33% from a year earlier to US$2.04B and versus consensus US$3.04B). The company expects fiscal second-quarter revenue of US$6.7B, up from US$6.5B a year earlier, but short of both current consensus analyst forecasts, and the chipmaker’s own forecast for US$8.1B. The company also anticipates US$3.81B in data-centre revenue, up +1% sequentially and 61% ahead of what the company posted a year earlier, but slightly below current consensus of US$3.99B. Executives noted that while the data-centre total marked a record, it came up “somewhat short of the company’s expectations, as it was impacted by supply chain disruptions.” Nvidia is slated to report its second quarter result on 24 August. The small capitalisation Russell 2000 outperformed with a +1.01% gain.  In merger and acquisition (M&A) news, Global Blood Therapeutics gained +4.32% after Pfizer Inc (+0.61%) agreed to purchase the company that has one of the few approved treatments for sickle-cell disease for US$5.4B (US$68.50 per share). The acquisition continues a string of deals for Pfizer, which is flush with cash from sales of its COVID-19 vaccine and drug and which has said wants to add US$25B in revenue from business-development moves like M&A by 2030. Signify Health Inc jumped +10.97% following a report from The Wall Street Journal that CVS Health (down -0.25%) was planning to make a bid for the healthcare platform.

Morgans AM: Tuesday, 9 August 2022

Senior Analyst Nathan Lead gives an update on the result for Aurizon Holdings (ASX:AZJ) which was the softer Bulk result, weaker than expected FY23 outlook, Network macro benefits, and the One Rail acquisition.

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Aurizon Holdings (ASX:AZJ) Analyst Comments: Reporting Season, August 2022

Morgans is Australia's largest national full-service retail stockbroking and wealth management network with more than 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices across all states and territories in Australia.

Morgans AM: Tuesday, 5 July 2022

Morgans Financial Limited

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