QBE: Trade Table Holding
QBE Insurance Group was added to the ASX200 Trade Table on the 19/12.
S&P500 Futures
The S&P500 futures are trading below the 10-day average, following last Thursday’s pre-alert red arrow. Place the stop loss on a reversal above 4828.
Iluka
Iluka Resources is added to our watchlist and we’ll revisit this one later in the week.
S&P500 Magnificent Seven
The biggest contributors to the S&P 500’s banner year have been the usual suspects, currently dubbed the Magnificent Seven, which are Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla. This group is up 75% in 2023, while the remaining 493 companies in the S&P 500 are about 12% higher.
S&P500 PE Valuation
S&P500 PE valuation excluding the magnificent 7 is trading at the long-term average of 16x, suggesting that most of the market is at fair value.
Crude Oil Futures
Crude Oil futures are trading at $71.50
Boss Energy
Boss Energy is producing uranium, and therefore can take advantage of the current high price. Uranium prices have doubled in 2023 and are now trading at 15-year highs of US$87/lb.
Domain
Crude Oil ETF
BetaShares Crude Oil Index ETF-Currency Hedged
Oil prices rose as tankers shun the Red Sea on the back of heightened attacks by Iran-backed Houthi militants which have disrupted international shipping routes.
Karoon Energy
Karoon Energy is a new entry in the ASX 200 Trade Table
Who Dat acquisition enables Karoon’s entry to US Gulf of Mexico (US GoM) & provides asset diversification. We factor in KAR’s acquisition at $720m equity raising (US$300m) and debt drawdown (US$274m). The acquisition now presents an opportunity for investors.
The Who Dat oil and gas field is located in Mississippi Canyon (MC) blocks 503 / 504 / 547 in
the Gulf of Mexico (GOM) in water depths of 945m. Who Dat was discovered in late 2007,
and has been in production since 2011. Who Dat is made up of numerous stacked reservoirs
of Pliocene & Miocene age. Producing reservoirs are located at depths of 10,000ft-17,000ft.
Oil is sold into the Mars pipeline (operated by Shell), while gas is sold into the Canyon Chief
pipeline (operated by Williams).
Level 29 Chifley Tower
2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453
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