Market Update

General - Genex

Good afternoon

as we saw on Friday, the labor market in the States was strong last month, even though Weekly Earnings just don´t want to go up! German exports were very strong today, and Industrial Pproduction in Europe has been strong also last month, as announced on Friday.

Donal is making a real joke out of himself, claiming wonderful collaboration with the Russians ( !!!! ) on cybersecurity....big breakthrough after talking to you would imagine, this thing was burried as soon as he returned to the US....I am sure, that Putin had a very good laugh after that meeting with Trump!

Hamburg is not happy with the weekend! 

Mining companies with assets in Tanzania continue to get slaughtered. If these guys don´t watch out and change tack soon, nobody will finance any mining ventures in that country for a long time!

Genex - Tesla claimes this fantastic deal, which will cure the energy problems of South Australia! Typical PR for Tesla/Musk, as well as for the South Australian government. Tesla was choosen to built the worlds largest litium-ion based battery, 100 MW, within 3 month ( and a few important conditions on that time frame! ). The cost has not been disclosed - Forbes etsimated 200 Mill, the S.A.government did not want top disclose, but indicated below 150 mill. For 15x that storage, incl generation of 520 MW, the cost will be 750 dramatically cheaper. But Tesla certainly can offer some immediate help, even though 100 MW is pretty small. This deal just shows you, how desperate the political side is, to come up with some solutions !

Have a nice evening!