Good Morning from Perth!
It’s been nearly 15 years since we were last here and yes, it is currently 5:30am in the morning as we write the morning wrap….
Last night as we jumped off the plane, we were greeted by an investor who brought with him 5 chicken schnitzel rolls and cold drinks (I must say it was midnight)….
That put a smile on our faces…
Commitment!
So why are we here?
We’re catching up with a few fund managers and brokers in relation to Lifespot Health (which also has a chronic diseases app)… one to keep an eye on…
so what happened last night?
US Stocks rallied (Dow Jones +213 points), following a surge in European bank stocks and Oil (up now to above $49/barrel)…..
Financial and technology companies boosted the S&P 500 Index to its biggest gain in two months, while the Stoxx Europe 600 Index posted its best day since mid-April. The dollar rose to its strongest level since March against the euro, denting demand for gold, which had its longest losing streak since November.
The Pound was lifted by a poll showing the campaign to keep Britain in the European Union is gaining strength. The Turkish lira gained after a cabinet reshuffle.
What was interesting is that on the flight here, I read an article in The Australian stating that hedge funds are shorting Australian Banks at the highest rate on record……
Growing unemployment, increasing bad and doubtful debts and a property market that looks a little “shaky”, are the reasons…..
So… Will this trade work out for them?
It has never done so in the past…..
*** Peak Opportunity: Lithium Power IPO
Just a reminder, we need bids via email early today, with funds on Friday……
Please note, there is very little stock available….. so don’t be disappointed….
The SPI is up 33 points this morning.
