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    15 December, 2023

Happy Friday! 

Tools down, enjoy your weekend everyone.

Across Markets…

A rally among the miners lifted the S&P/ASX 200 0.9 per cent, or 64.8 points, to 7442.7 points on Friday as the falling US dollar boosted the price of commodities including copper, gold, oil, iron ore and natural gas.

Over a week headlined by the US Federal Reserve’s forecast for several interest rate cuts next year, Australia’s benchmark share index advanced 3.4 per cent.

The Australian dollar climbed to buy $US67.1¢ at the closing bell, versus US65.9¢ at the end of the last trading week.
On Friday, the materials sector jumped 1.9 per cent, with Fortescue Metals shares advancing 1.4 per cent to a record closing high of $27.85.

Iron ore peers Rio Tinto and BHP both firmed more than 2 per cent, and gold miners were also higher as the precious metal’s price fetched $US2051 an ounce.
“Copper rallied along with the rest of the base metals sector after Wednesday’s [Federal Reserve] meeting, where policymakers signalled the possibility of rate cuts in 2024,” ANZ Bank told clients.

“The move unleashed a bullish tone across the metals sector, which has been under pressure this year amid concerns the tighter monetary policy of central banks would weigh on economic growth and ultimately demand.”
On Wall Street, the Dow Jones Index closed at a record high, up 0.4 per cent to 37,248 points.
The tech-heavy Nasdaq Index added 0.2 per cent and the small-cap index, the Russell 2000, extended a week-long rally to jump another 2.6 per cent.

The yield on US 10-year government bonds sank 9 basis points to 3.93 per cent.

Source: AFR

Pic of the day

Local Equity News

  • ASX health stocks higher in past five days in line with broader markets Christmas rally
  • Sigma Healthcare up ~34% this week on planned merger with Chemist Warehouse
  • Volpara soars 46% this week on takeover news by AI-focused South Korean group Lunit

Healthcare and life sciences expert Scott Power, who has been a senior analyst with Morgans Financial for 26 years, explains what the movers and shakers have been doing in health and gives his ASX Powerplay. 

Severe pregnancy-related nausea and vomiting, known as hyperemesis gravidarum, can be extremely debilitating and in some cases,  such as the high-profile case of Catherine Princess of Wales, require hospitalisation.

But some good news – an international study involving scientists at the University of Cambridge, researchers in Scotland, the USA and Sri Lanka may have found the culprit and a possible prevention.

Scientists believe the severity of maternal sickness relies on a foetal hormone named GDF15 and the mother’s prior exposure before pregnancy.

Scientists studied data from women recruited to several studies and used several approaches including human genetics, new hormone measurement techniques in pregnant women’s blood, and investigations involving cells and mice.

Researchers discovered a direct link between a woman’s pregnancy-induced nausea and vomiting and the levels of GDF15 produced by the foetal part of the placenta, as well as her sensitivity to the hormone’s nauseating effects.

GDF15 is typically produced at low levels in non-pregnant tissues. Women with low levels of GDF15 in their blood before pregnancy are at a higher risk of severe nausea and vomiting during pregnancy.

Furthermore, the team identified a rare genetic variation associated with lower hormone levels in the blood and tissues outside of pregnancy that significantly increases the risk of hyperemesis gravidarum.

Conversely, women with beta thalassemia, a hereditary blood disorder leading to naturally elevated GDF15 levels before pregnancy, tend to experience minimal or no nausea and vomiting.

The finding suggests a possible way for preventing pregnancy-related sickness by exposing women to GDF15 before they become pregnant to enhance their resistance to the hormone.

Source: Stockhead

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If you would like more information on future Peak deals, please don’t hesitate to get in touch.


The trustee for Peak Asset Management Unit Trust (“Peak”) is a corporate authorised representative (#1295491) of Brava Capital Pty Ltd (AFSL #382585).
 
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