Market Update

General - Evolution

Good afternoon

China will allow provinces to issue debt to invest in infrastucture etc….the US are spending via the FED, and China via government-entities…should be good for commodities. Iron ore made a new high in Singapore today…Chinese CPI at 2,7% is slightly stronger than expected - mainly on food prices. In the US, though, CPI slightly lower than expected at 0,1% - rate cut more probable?

But markets do not like the ultra-agressive Trump-tweeting…will be interesting to see, whether China will budge or whether their pride does not allow them to do so…

Bonds are stronger , while metals trade a touch weaker today except for gold.

China is said to start the most serious enviromental checks on Rare Earth mining so far. …Rare Earth mining stocks in China continue to rocket…

Volkswagen, Goldmans , BMW and others are investing a joint 1 bill Euro into Swedish battery manufacturer Northvolt to start a large lithium-ion battery plant in Northern Sweden.

Tesla indicates at the AGM to go into mining battery metals in a small way…

So lots of good news for battery stocks today - but not having a significant impact during the Australian market at least.

Evolution - Mr. Sawiris is selling down, again…In the past, these continued, small sell-downs have not done the share price any harm - but in the very short run, the sale of another 185 mill$ worth of stock ( most probably at around 3.75 A$/share ) will not help. After this, he will have a little over 100 mill shares left, which I guess he will continue to sell on the way up! Great investment for him - made, when nobody was interested in Evolution!

I fear not much else to report!

Have a nice evening


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