Global Banks
18/5 update: A new higher low has formed with support at $5.74
A2 Milk
{A2M.ASX} is under Algo Engine buy conditions.
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BHP
Incitec Pivot
IPL:ASX will report 1H23 results on Wednesday, 17 May. We forecast 1H23 underlying EBIT to be within $650 – $670m, up 15%% from the prior year.
Pilbara Minerals: closed for a 1400% gain
PLS:ASX was added as a buy, in September 2020 and our algo engine closed the trade yesterday for a 1400% gain.
Lynas
Lynas reports that it has been advised by Malaysian authorities that its licence to import and process lanthanide (rare earth) concentrate is now valid until 1 Jan 2024. This removes the requirement to shutdown the Malaysia cracking & leaching plant on 1 July 2023 and the plant will now operate until 1 Jan 2024.
A2 Milk
{A2M.ASX} is under Algo Engine buy conditions and we expect to see the holding added to the ASX200 Trade Table.
Speculative Trade: SGR
SGR:ASX is a speculative trade idea that requires a stop loss at the FTFF higher low.
Buy at the market price with a stop loss of $1.225
ANZ Group – 1H23 Earnings
ANZ’s 1H23 cash earnings were up 23% on pcp and the result provided further evidence of success for ANZ in improving the profitability of its Institutional business.
ANZ trades at 11x earnings and a forward dividend yield of 6%
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