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LICs LICs

Whitefield ltd Joins LIC Raisers

Whitefield, which has a $500 million investment portfolio, is anticipated to utilise the funds to Re launch the LIC, which is now only thinly traded due to its size.

Whitefield is managed by stockpicker Angus Gluskie’s Sydney-based White Funds Management. Commonwealth Bank, CSL, Westpac, NAB, and ANZ were its top holdings as of June 30.

On 14th July Morning, Whitefield stock was put on hold. In the year ended June 30, the company’s investment portfolio returned 25.6 percent before fees and taxes.

Company Profile

Our solutions support our clients’ mission critical business operations by providing proprietary and curated data and analytics to help drive informed decisions and improved outcomes. In an ever-increasing digital world, data is found everywhere. Data can describe the past or be of the moment.  Data fuels analytics that can anticipate the future.  And, data is most valuable when it drives action that moves an organization towards its goals.  Leading organizations use data and data-driven platforms to create a competitive edge. Our solutions derive data-driven insights that help clients target, grow, collect, procure and comply–even in changing times.

(Source: Fact Set)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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Commodities

Fortescue sets a new record for exports and sets new goals for the future

Fortescue has broken an export record for the second year in a row, having delivered 178.2 million tonnes from Western Australia’s Pilbara region in fiscal 2020. The business stated on Thursday that it expects to have a triple trick of record years in fiscal 2022, with a goal of shipping up to 185 million tonnes.

Fortescue shares rose 2% to a new record high of $26.40 on Thursday morning, owing to the better-than-expected result and forward outlook.

The company’s remarkable operating performance indicates that it has taken advantage of a window of high iron ore prices generated by strong Chinese demand and inadequate supply from major competitors such as Rio Tinto and Vale.

Rio manager Jakob Stausholm admitted on Wednesday night that the team needed to improve as an operator and perform better in the future.

Iron ore benchmark prices hit a fresh high of $US233 per tonne in early May, and the commodity was still fetching $US201.25 per tonne on Wednesday evening, according to price supplier S&P Global Platts.

Fortescue announced last year that it would spend a maximum of $US3.4 billion on growth projects, with a slide presentation from August 2020 implying that growth spending would be closer to $US1 billion in fiscal 2022.

If spending by its clean energy subsidiary Fortescue Future Industries (FFI) is added, the total could reach $US3.8 billion. FFI will invest between $US400 million and $US600 million in the coming year, according to Fortescue.

Aside from increased expansion spending, Fortescue predicted that unit expenses in the coming year might be 11% higher than in fiscal 2021.

(Source: Fact Set)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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Currencies Trading Ideas & Charts

AUD/JPY Price Analysis: Despite A Positive Australian Q2 CPI, The Pair Is Off Its Intraday High.

While the weekly bottom near 80.60 may provide immediate support ahead of the monthly low near 79.80, the psychological magnet of 80.00 may act as an additional filter to the south.

It’s worth mentioning that the pair’s weakness beyond 79.80 will need to be confirmed by the yearly low near 79.20 before the AUD/JPY bears are directed to late December 2020 tops near 78.80.

The AUD/JPY currency pair is currently trading at 80.98, with a daily change of 0.05 percentages the same day.

AUD/JPY: Four-hour chart

(Source: FactSet)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.