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As we head into Christmas with the festive season upon us, there’s even a bit more to celebrate with global share markets rallying in November. Markets built on October gains in a positive sign of recovery for what has been a volatile year.
While high inflation, rising interest rates and the continued war in Ukraine remained a concern, investors were more optimistic with the traditional stronger time of the year for markets playing out.
After having their first monthly gain in three in October European stocks continued to rally, while US shares also rose with the Dow Jones, Nasdaq and S&P 500 all recording solid gains.
This week US Federal Reserve chair boss Jerome Powell signalled the pace of rate hikes in the US will slow down starting in December, which saw bond yields drop and equities rally in good news heading into the Christmas.
It was good news also back home for Australia with the S&P ASX200 upstaging a solid month in November.
The prize for the biggest global gains in November goes to China with the Heng Seng up nearly almost 20% for the month.
Stockhead’s Christian Edwards once rocked the amateur dramatic boards in Beijing, so clearly he knows a few things about domestic policy and Hang Seng sentiment.
Let’s cross to Christian live now for an update:
Kidding. We just love any excuse to run that.
But Chedwards reckons things ran hard in November on the likelihood of a China reopening after falling right off a cliff – its worst single day loss since the GFC – after Xi Jinping’s domination of the 20th National Party Congress on October 25.
However, he pointed out those returns are again in doubt following the resurgent virus and the policy, and public response we’ve seen this week.
World Equities
| Index | Nov move % |
|---|---|
| Dow Jones | +5.93% |
| France CAC 40 | +7.5% |
| Germany DAX | +8.6% |
| HangSeng | +19.7% |
| Nasdaq | +5.30% |
| Nikkei | +2.2% |
| S&P 500 | +8.5% |
| S&P/ASX 200 | +5.4% |
| STOXX Europe 600 | +6.75% |
| UK FTSE 100 | +6.74% |
Bonds
| Country | Nov move (bp) |
|---|---|
| Australia | -43 bp |
| UK | -37 bp |
| US | -45 bp |
Commodities
| Commodities | November move % |
|---|---|
| Brent crude | -8% |
| Coal | +14.5% |
| Gold | +8.7% |
| Iron ore | +1% |
| Lithium carbonate | +2% |
| Natural gas | +7.2% |
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Last Share Price | Mth % return | Market Cap |
|---|---|---|---|---|
| AEV | Avenira Limited | 0.031 | 158% | $39,328,530 |
| OD6 | OD6 Metals | 0.51 | 155% | $31,331,215 |
| SXG | Southern Cross Gold | 0.87 | 142% | $73,710,424 |
| JTL | Jayex Technology Ltd | 0.012 | 140% | $2,990,742 |
| IVZ | Invictus Energy Ltd | 0.355 | 137% | $276,855,477 |
| WR1 | Winsome Resources | 1.1 | 134% | $153,111,223 |
| WA1 | WA1 Resources | 1.96 | 133% | $68,685,488 |
| PTG | Proptech Group | 0.56 | 115% | $84,460,555 |
| WIN | Widgie Nickel | 0.56 | 104% | $126,761,478 |
| CDR | Codrus Minerals Ltd | 0.13 | 100% | $4,245,150 |
| XRG | Xreality Group Ltd | 0.079 | 98% | $31,761,726 |
| G50 | Gold50Limited | 0.235 | 96% | $13,381,605 |
| BAS | Bass Oil Ltd | 0.065 | 86% | $16,342,954 |
| MAP | Microba Life Sciences | 0.325 | 86% | $76,951,073 |
| SKF | Skyfii Ltd | 0.063 | 85% | $26,080,660 |
| GRX | Greenx Metals Ltd | 0.5 | 85% | $134,418,846 |
| LCL | Los Cerros Limited | 0.042 | 83% | $28,628,550 |
| MSL | MSL Solutions Ltd | 0.2825 | 82% | $103,356,501 |
| WGO | Warrego Energy Ltd | 0.255 | 82% | $311,896,193 |
| JAL | Jameson Resources | 0.115 | 77% | $45,023,777 |
| GRV | Greenvale Energy Ltd | 0.105 | 75% | $41,750,499 |
| TOU | Tlou Energy Ltd | 0.045 | 73% | $33,437,809 |
| ICL | Iceni Gold | 0.12 | 71% | $15,383,571 |
| AQI | Alicanto Min Ltd | 0.058 | 66% | $25,348,676 |
| PSC | Prospect Res Ltd | 0.165 | 65% | $73,961,514 |
| GTK | Gentrack Group Ltd | 2.31 | 63% | $232,814,098 |
| CAQ | CAQ Holdings Ltd | 0.026 | 63% | $18,662,443 |
| BSADA | BSA Limited | 0.65 | 63% | $50,055,844 |
| RNU | Renascor Res Ltd | 0.345 | 60% | $767,194,863 |
| BGL | Bellevue Gold Ltd | 1.1675 | 60% | $1,152,280,089 |
| SVY | Stavely Minerals Ltd | 0.22 | 57% | $74,279,571 |
| NSB | Neuroscientific | 0.13 | 57% | $17,216,597 |
| IMI | Infinity Mining | 0.36 | 53% | $20,175,220 |
| MZZ | Matador Mining Ltd | 0.145 | 53% | $43,655,166 |
| BML | Boab Metals Ltd | 0.305 | 53% | $43,745,655 |
| A4N | Alpha Hpa Ltd | 0.64 | 52% | $514,331,762 |
| AGI | Ainsworth Game Tech | 1.26 | 52% | $442,884,017 |
| ODY | Odyssey Gold Ltd | 0.044 | 52% | $29,926,063 |
| FML | Focus Minerals Ltd | 0.22 | 52% | $63,042,902 |
| CML | Chase Mining Limited | 0.018 | 50% | $15,543,658 |
| CPT | Cipherpoint Limited | 0.006 | 50% | $5,631,083 |
| GGE | Grand Gulf Energy | 0.024 | 50% | $35,572,045 |
| GSM | Golden State Mining | 0.054 | 50% | $5,733,696 |
| IPT | Impact Minerals | 0.009 | 50% | $22,332,335 |
| LNU | Linius Tech Limited | 0.0045 | 50% | $9,646,132 |
| REY | REY Resources Ltd | 0.18 | 50% | $38,146,957 |
| IRI | Integrated Research | 0.545 | 49% | $83,020,095 |
| EMV | Emvision Medical | 2.15 | 49% | $165,475,340 |
| BUR | Burley Minerals | 0.275 | 49% | $9,438,838 |
| CI1 | Credit Intelligence | 0.2 | 48% | $17,117,328 |
Phosphate stock Avenira (ASX:AEV) was up ~160% in November. AEV provided an update on the proposed DSO Phosphate Project to mine and sell high-grade phosphate ore from its Tier 1, 100% owned Wonarah Phosphate Project in the NT to third parties to produce high-purity phosphoric acid.
Testing confirmed Wonarah ore to be well suited for the production of battery-grade phosphoric acid due to its high grade, physical robustness and large consistent lump sizing.
AEV said offtake discussions are well advanced, with a binding offtake agreement expected to be executed for the sale of up to 600,000tpa of high grade, high value Wonarah DSO phosphate ore.
OD6 Metals (ASX:OD6) saw its share price rise in November after announcing initial assay results of up to 6,729ppm total rare earth oxides (TREO) from drilling at Splinter Rock in WA, which represent “some of the highest grades and thickest clay-hosted rare earth intersections seen in Australia”.
However, it hasn’t been a smooth transition to December for OD6 and markets can be fickle, with its share price tumbling on Thursday despite reporting further “excellent” results from Splinter Rock.
Results included grades up to 3,862ppm TREO. Two additional prospects were defined, in addition to the original four significant prospects previously reported.
Another good rise in November came from small cap Microba Life Sciences (ASX:MAP) after diagnostics giant Sonic Healthcare (ASX:SHL) announced it had bought a 19% stake at 26 cents/share, sending the MAP share price soaring 60%+ on November 29.
Microba focuses on gut health with a revenue-generating business in microbiome testing. Microba and Sonic have agreed on the terms to deliver the microbiome testing technology into Australia, New Zealand, Germany, United Kingdom, Belgium, Switzerland and the US.
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Last Share Price | Mth return % | Market Cap |
|---|---|---|---|---|
| SKN | Skin Elements Ltd | 0.011 | -62% | $5,127,484 |
| LER | Leaf Res Ltd | 0.011 | -58% | $12,716,911 |
| LHM | Land Homes Grp Ltd | 0.006 | -57% | $6,296,336 |
| DW8 | DW8 Limited | 0.002 | -50% | $6,203,045 |
| LVE | Love Group Global | 0.05 | -50% | $2,026,708 |
| PRM | Prominence Energy | 0.001 | -50% | $2,424,609 |
| SYN | Synergia Energy Ltd | 0.001 | -50% | $8,417,791 |
| ICE | Icetana Limited | 0.035 | -49% | $6,976,495 |
| QUE | Queste Communication | 0.025 | -47% | $676,808 |
| FFF | Forbidden Foods | 0.042 | -44% | $4,859,946 |
| TAS | Tasman Resources Ltd | 0.009 | -44% | $6,040,373 |
| NNG | Nexion Group | 0.051 | -43% | $4,124,421 |
| TTA | TTA Holdings Ltd | 0.016 | -43% | $2,198,775 |
| CCX | City Chic Collective | 0.735 | -43% | $184,376,468 |
| CSE | Copper Strike Ltd | 0.095 | -42% | $16,614,738 |
| KOB | Koba Resources | 0.15 | -42% | $9,750,000 |
| 1CG | One Click Group Ltd | 0.01 | -41% | $6,599,219 |
| CLZ | Classic Min Ltd | 0.01 | -41% | $7,363,833 |
| KZA | Kazia Therapeutics | 0.089 | -41% | $14,216,581 |
| NKL | Nickelx Limited | 0.092 | -41% | $7,124,586 |
| RBD | Restaurant Brands NZ | 6.44 | -40% | $803,444,888 |
| CL8 | Carly Holdings Ltd | 0.018 | -40% | $3,883,037 |
| CNJ | Conico Ltd | 0.009 | -40% | $13,094,713 |
| MYE | Metarock Group Ltd | 0.155 | -39% | $20,631,326 |
| WKT | Walkabout Resources | 0.1075 | -38% | $104,357,200 |
| BLZ | Blaze Minerals Ltd | 0.01 | -38% | $4,042,591 |
| CPH | Creso Pharma Ltd | 0.0195 | -37% | $34,883,186 |
| EPX | Ept Global Limited | 0.027 | -37% | $8,241,887 |
| ICN | Icon Energy Limited | 0.007 | -36% | $5,376,096 |
| PG1 | Pearl Global Ltd | 0.014 | -36% | $18,563,157 |
| WFL | Wellfully Limited | 0.014 | -36% | $5,348,802 |
| AFL | Af Legal Group Ltd | 0.13 | -35% | $9,567,052 |
| A1G | African Gold Ltd. | 0.07 | -35% | $10,283,006 |
| HLF | Halo Food Co. Ltd | 0.031 | -34% | $12,023,092 |
| MDC | Medlab Clinical Ltd | 7.02 | -34% | $17,582,965 |
| 99L | 99 Loyalty Ltd. | 0.014 | -33% | $18,554,924 |
| ANL | Amani Gold Ltd | 0.001 | -33% | $23,693,441 |
| AO1 | Assetowl Limited | 0.001 | -33% | $1,572,130 |
| ERL | Empire Resources | 0.006 | -33% | $6,231,433 |
| GGX | Gas2Grid Limited | 0.001 | -33% | $8,116,204 |
| GLV | Global Oil & Gas | 0.002 | -33% | $4,571,711 |
| RR1 | Reach Resources Ltd | 0.004 | -33% | $7,640,203 |
| SPA | Spacetalk Ltd | 0.029 | -33% | $6,753,218 |
| AIV | Activex Limited | 0.033 | -33% | $7,129,735 |
| BVS | Bravura Solution Ltd | 0.8025 | -33% | $196,199,662 |
| ASR | Asra Minerals Ltd | 0.017 | -32% | $23,428,185 |
| H2G | Greenhy2 Limited | 0.035 | -31% | $12,744,743 |
| OEC | Orbital Corp Limited | 0.165 | -31% | $17,243,050 |
| ZNO | Zoono Group Ltd | 0.1 | -31% | $16,692,522 |
| TYX | Tyranna Res Ltd | 0.0325 | -31% | $74,568,185 |
With no discernible reason other than general sentiment Australian natural skincare company Skin Elements (ASX:SKN) looks to have ventured into ‘oversold’ territory.
Stocks that were down on news included renewable pine chemical play Leaf Resources (ASX:LER). The company announced at the end of October construction of the Apple Tree Creek project plant in Queensland will likely be deferred until Q1 next year.
In an announcement, LER said it had experienced delays in the shipping of its recently acquired New Zealand plant to Apple Tree Creek due to:
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