Markets in neutral as news dries up
Published 21-MAR-2017 15:35 P.M.
|
1 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
With very little macro, political or significant company specific news occurring overnight most markets tended to track sideways.
The Dow only came off marginally to close at 20,905 points.
The NASDAQ was flat at 5901 points.
Even though the FTSE 100 only increased .07% to close at 7429 points this did represent an all-time closing high, part of an almost uninterrupted rally that commenced at the start of December when the index was hovering in the vicinity of 6700 points.
After coming under pressure early in the session, the FTSE 100 took some positive direction from the UK government’s announcement regarding the imminent commencement of Brexit procedures.
The moves were a little more pronounced in mainland Europe with the DAX and the Paris CAC 40 both falling 0.3% to close at 12,052 points and 5012 points respectively.
The oil price continues to hover in the vicinity of US$48 per barrel with last week’s negative supply demand data seemingly now absorbed.
Gold continues to find support, although it traded in a tight range last night before closing at US$1234 per ounce.
On the commodities front, iron ore came off nearly 1% to close at US$91.50 per tonne.
While all base metals lost ground, no significant declines were posted.
The Australian dollar continues to hang onto last week’s gains, hovering in the vicinity of US$0.77.
It should be noted that broker projections and price targets are only estimates and may not be met. Also, historical data in terms of earnings performance and/or share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.