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This is getting silly..

Gold is analogue Bitcoin is digital.

Today’s Headlines

  • ASX 200 rises to 27 to 6111 as euphoria fades a little.
  • High 6031 Low 5994. Modest volumes.
  • Banks shine on US moves.
  • BHP follows iron ore higher.
  • SEK disappoints.
  • North Korean missile ignored.
  • AUD slips to 75.85c
  • Bitcoin races above $10,000 for first time.
  • US futures down 5.
  • Asian markets easier as Chinese sell off continues. CSI 300 down 0.89%. HK down 0.36% but Japan up 0.28%

STOCK STUFF

  • KDR +11.49% on positive drill results
  • LYC -4.65% ahead of consolidation.
  • GXY +8.64% offtake agreements in place.
  • PLS +5.08% lithium is back.
  • DMP -0.15% IT court case adjourned until next year.
  • AGI -7.83% AGM comments and outlook.
  • CKF -4.97% market update disappointing.
  • BHP +0.95% drawing strength from iron ore price.
  • ISD +5.29% broker coverage.
  • CSL -0.84% slips after recent strength.
  • TLS -0.29% pregnant with news on NBN impact.
  • CIM +2.48% continues to power ahead.
  • APT -2.31% profit taking.
  • IDX +22.75% bid from CAJ +%.
  • BIN +9.58% after successful insto offer.
  • SGH -23.08% recapitalisation plan.100:1 consolidation.
  • TCL -0.71% financial close of Hill refinancing.
  • NCZ +10.49% positive feasibility study.
  • 4WD -1.02unchanged- surrenders in AMA -% bid.
  • NOX +8.33% proof of concept in animal strokes.
  • APX – capital raise and two acquisitions.
  • ALQ -3.37% ex dividend and negative AGM guidance weighing.
  • BIG +20.94% company replies to recent volatility.
  • SEK -3.61% disappointing AGM and guidance.
  • Speculative stock of the day: Quantum Resources (QUR) +25.00% MOU has been signed to fast track lithium development.
  • Biggest risers – KDR, BIN, GXY, CEN, CLQ and PLS.
  • Biggest fallers – AGI, LYC, CKF, PPH, SEK and ALQ.

TODAY

  • Kidman Resources (KDR) +11.49% Another positive announcement at Earl Grey with consistent high-grade intercepts for a mineral upgrade. The company says there is significant funding flexibility on the back of resource upgrades.
  • Capitol Health (CAJ) +1.64% A bid for Integral Diagnostics with a 6.9 CAJ for each IDX (+22.75%) plus 36c in cash which equates to 246c a share. Four big institutional holders have backed the bid with acceptances of their 19.55% stakes. The merger will create a leading Australian diagnostic imaging service with high quality radiologist business.
  • Praemium (PPS) –1.65% Signed its first portfolio administration client in WA. Merchant Group has signed with PPS to provide admin for personal and SMSF investments.
  • Seek (SEK) -3.61% expects EBITDA to lift around $48min fiscal 2018 compared to prior forecasts of an approximate $36.2m lift. Revenue growth is still expected to come in at 20%-25% and given the flat profits due to heavy reinvestment in the business. It lifted full year EBITDA (operating income) guidance from around 10% to 13%.

ECONOMIC NEWS

  • OECD is urging Australia to begin increasing official interest rates, even if inflation remains weak, to cool the housing market and prevent a blowout in risky debt levels. OECD indicates there may be a case for higher interest rates even if inflation stays weak, as many economists expect. It warned that those restraints need to be maintained, not least because Australia is vulnerable to “too big to fail risks, due to its highly concentrated banking sector”.

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  • The Reserve Bank of New Zealand said it would ease restrictions on home loans given the recent cooling in the housing market, which is likely to be dampened further by new government policies. In its half-yearly Financial Stability Report, the central bank said it would undertake a “modest easing” of loan-to-value ratio (LVR) restrictions from Jan. 1, 2018.

 

ASIAN MARKETS

  • The record run continues. And it’s all about the BATs. Baidu, Alibaba and Tencent.

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  • The Hong Kong dollar’s one-month borrowing cost rose above 1 percent for the first time since the global financial crisis.

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  • As Chinese equity markets continue to pullback perhaps all the money is heading into digital currencies. Bitcoin now worth more than GE, Disney and McDonalds. Really. Now worth US$160bn.

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  • Japanese retail as expected at 0.2% led by weak sales in food and beverages.

EUROPE AND US MORNING HEADLINES

  • Looks like the decree nisi cost has been agreed between the UK and the EU and it’s a big one. GBP40bn. No one will be happy with this outcome. So much for the money flowing to the NHS. Expect fall out.
  • Uber’s adjusted losses widened to US$743m during the third quarter of this year, up 14% from the previous quarter, according to new documents sent to shareholders.

 

And finally…..

 

My ex-girlfriend is standing at the opposite end of the museum from me!

I want to say hello but there’s just too much history between us.

 

If you were 8 years old when “Red, Red Wine” was released UB40 now.

 

My horse will only come out of it’s stable when it gets dark.

It’s becoming a night mare.

 

I know a man who taught his dog to play the trumpet on the London Underground.

He went from Barking to Tooting in an hour.

 

I don’t trust trees, they’re shady.

 

A funeral was held today for the inventor of air conditioning.

Thousands of fans attended.

 

I’ve just been to a disgusting pub called “The Fiddle”

It really was a vile inn.

 

I went fishing today with my two friends…

Rod & Annette

Thanks to my good buddy Richard Morrow for these gems..lunch Friday is looking good!

 

Clarence

XXXX

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Get a Global take on things at www.ntmarkets.com

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