Market Snapshot and Intraday Chart
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www.deepdataanalytics.com.au Australian Trading Day Market Report 25 September 2020 INVESTMENT MOTTO: “Life is all about cycles. You evolve with the cycles or they run over you.” MARKET SNAPSHOT AND INTRADAY CHART Security Last +/- % Security Last +/- % Security Last +/- % S&P 300 5941.00 86.70 1.48 DXY 94.3700 -0.0250 -0.03 SPTGLD 1868.47 0.24 0.01 S&P 200 5964.90 89.00 1.51 AUDUSD 0.7060 -0.0011 -0.15 TWI 60.30 -0.50 -0.82 All Ords 6140.50 84.00 1.39 NZDAUD 0.9286 0.0028 0.30 WTIS 40.40 0.09 0.22 Small Ords 2730.30 12.70 0.47 GBPAUD 1.8073 0.0086 0.48 BRENT 42.11 0.54 1.30 Micro Cap 1647.00 10.30 0.63 EURAUD 1.6526 0.0037 0.22 COPP3M 6534.00 -173.00 -2.58 NZ50G 11797.08 107.19 0.92 EURUSD 1.1668 0.0008 0.07 NICK3M 14220.00 -194.00 -1.35 JAPAN 23202.92 115.10 0.50 USDJPY 105.3160 -0.0830 -0.08 ZINC 2379.50 -42.50 -1.75 KOSPI 2280.92 8.22 0.36 CNYUSD 0.1467 -0.0002 -0.13 Security Last +/- % SING 2467.64 16.82 0.69 Security Last +/- % DOWFUT 26836.00 121.00 0.45 SHANGHAI 3279.71 5.41 0.17 USBON 0.6701 -0.0040 -0.59 NASFUT 10916.75 25.00 0.23 HNGKNG 23231.10 -79.97 -0.34 USLBR 1.4091 -0.0116 -0.82 SPFUT 3248.50 10.50 0.32 GERMAN 12606.57 -36.40 -0.29 BOND10 0.7991 -0.0029 -0.36 CAC40 4762.62 -39.64 -0.83 BBSR3M 0.0800 -0.0100 -11.11 FTSE 5822.78 -76.48 -1.30 VIX 28.51 -0.07 -0.24 DOWJON 26815.44 52.31 0.20 XVI 19.03 -0.42 -2.14 NASDAQ 10672.27 39.28 0.37 SP500 3246.59 9.67 0.30 Sources: AFR, AAP, ASX, Bloomberg, CNBC, CNN, FactSet, Hedgeye, IRESS, Market Watch, Thomson Reuters, S&P, SMH, Trading Economics 1 www.deepdataanalytics.com.au Australian Trading Day Market Report 25 September 2020 MARKET COMMENTARY: 1. Local market started positive on US sentiment before Aussie government removal of “responsible lending” standards put a rocket behind banks to further push the market higher. The banks delivered nearly half the move in the market today. The banks have been caught breaking just about every regulatory category over the last decade and they still haven’t had the results of the royal commission get executed. Australia has an over supplied property market with historically high unemployment, deficit and debt in a recession while the financial sector that has track record of breaking the laws is given more rope to hang the consumers and get away with dubious lending practices of the past. The strategy is consistent between RBA and the government. Leverage up and keep the bubble going and hope to hell that the global economy recovers in time to grow and inflate the debt away. There is no plan B when you are swimming in asset bubbles and playing geopolitics with your main trading partner in China. The only problem with this theory is that zombie business are being kept alive for political reasons and that will only prolong the recession recovery cycle. Endless stimulus strategy in most parts of the world have created a bigger and deeper recession that will take even longer to unwind. The deleveraging unwinding of the current economic cycle will take more than a few years…could be a decade or longer of higher taxes and lower growth!!! Australia is starting school holiday cycle and most of the world ex China is dealing with pandemic waves. Northern hemisphere is moving into winter season as EU countries are looking at restrictions while most of the Emerging Markets ex China have been savaged by the pandemic. US futures are slightly positive on better outlook for stimulus as Whitehouse comes out throwing handouts for votes with election just over a month away. We have had the relief rally in USD on the back of Covid 2.0 in EU trashing Euro. AUDUSD has been belted on that with RBA and Treasurer adding more negative news. We may start to see it unwind and USD return to the medium to long term slide trend. US market was volatile and directionless overnight with DOW ranging between -200 to +300 and then finishing up 50. Gold and Utilities were the standout sectors in the US. Economic data remains patchy with initial jobless rising and continues above 12m after 6 months. EU and US are in second/first wave while restrictions are coming to EU and political spin for US. US$ faded and Bonds and Commodities ticked up. Whitehouse delivered another alternative health care plan that talks to a lot of areas but delivers nothing much as all. The next few weeks in Australia will be global investors versus local retail investors as most fund managers will be away for school holidays. We have a month and quarter end in that time and a US election only a month away. Remain nimble, contrarian and cautiously pragmatic with elevated global macro risks!!! Buckle up...it’s going to get bumpy!!! 2 www.deepdataanalytics.com.au Australian Trading Day Market Report 25 September 2020 2. Movers and Shakers in S&P 300 > 3. Market sentiment from CNN > 3 www.deepdataanalytics.com.au Australian Trading Day Market Report 25 September 2020 4. Austal (ASB +1.23%) > AML3D Limited (ASX: AL3) (“AML3D” or “the Company”) is pleased to announce it has received a purchase order (“PO”) from Austal Limited (“Austal”) (ASX: ASB) to deliver an evolutionary lifting device, Davit Arm (Figure 1). The PO follows successful completion of the design and optimisation phase. As announced on 3 September 2020, AML3D executed a contract with Austal to develop an additively manufactured component for the maritime defence industry. The contract had grown from a MoU after AML3D was identified by Austal as a leading provider of advanced manufacturing technologies and design solutions. ASX 5. Crown Resorts (CWN +0.55%) > Crown Resorts Limited (ASX: CWN) (Crown) refers to the evidence given by Crown’s Chief Executive Officer and Managing Director, Mr Ken Barton, at the 24 September 2020 public hearing of the inquiry established by the NSW Independent Liquor and Gaming Authority, which is continuing. ASX 6. De Grey Mining (DEG +2.00%) > De Grey Mining Limited (ASX: DEG, “De Grey”, “Company”) is pleased to provide the following drilling update at the Hemi Gold Discovery, located approximately 60km south of Port Hedland in Western Australia. The results provide strong consistency and continuation of gold mineralisation within the larger Brolga intrusion, new extensions to the NE into the sediments surrounding the intrusion and additional mineralisation within the Brolga (South) intrusion. ASX 7. NIB Holdings (NHF -2.31%) > nib holdings limited (nib) confirms the retirement of Ms Christine McLoughlin as a Director of nib, effective 25 September 2020. Ms McLoughlin has also retired as a Director of nib health funds limited and Grand United Corporate Health Limited. Christine was appointed as a Director of nib holdings limited in March 2011 and has served as the Chair of the Risk and Reputation Committee and People and Remuneration Committee. ASX 8. oOh!media Limited (OML +1.90%) > oOh!media Limited (ASX:OML) (oOh! or the Company) is pleased to announce the appointment of Mr Andrew Stevens to the Board as an independent Non-executive Director (NED), with effect from today. Chair, Tony Faure, said Andrew brings extensive experience in both technology and consulting which will benefit oOh! as the Company navigates these challenging times. Mr Stevens will stand for election at the Company’s 2021 AGM. ASX 9. Opthea Limited (OPT +1.06%) > Opthea Limited (ASX:OPT), a clinical stage biopharmaceutical company developing a novel therapy to treat highly prevalent and progressive retinal diseases, today announces the public filing of a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to a proposed public offering (the “Offering”) of American Depositary Shares (“ADSs”), each of which will represent one or a number of the Company’s ordinary shares in the United States. Concurrent with the proposed public offering, Opthea also intends to list the ADSs on the Nasdaq Global Market (“Nasdaq”). ASX 10. OZ Minerals (OZL +2.32%) > OZ Minerals Limited shares issued to Cassini Resources Limited shareholders as acquisition scheme consideration were scheduled to be able to be traded on a deferred settlement basis with effect from today. OZ Minerals has been advised by the ASX that, due to unforeseen technical difficulties, deferred settlement trading using the code 'OZLN' will not commence trading this morning as expected. Trading in those securities is expected to commence at the beginning of trade on Monday. ASX 11. Premier Investments (PMV -0.68%) > Premier Investments Limited (“Premier”) today reported net profit after tax (NPAT) of $137.8 million for the 52 weeks ended 25 July 2020 up 29.0% on FY19 (FY19: $106.8 million). Premier Retail delivered record underlying earnings before interest and tax (EBIT) of $187.2 million, up 11.9% (FY19: $167.3 million)1 2. Premier Retail like for like (“LFL”) sales were up 7.6% (constant currency) for the year with total sales down 4.3% to $1.22 billion (FY19: $1.27 billion). Premier Retail’s underlying EBIT margin for the year was 15.4%. ASX 4 www.deepdataanalytics.com.au Australian Trading Day Market Report 25 September 2020 12.