Energy stocks disconnect gets âcrazyâ
Jul 4, 2021 â 4.00pm
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The share prices of Australiaâs major oil and gas producers remain stubbornly subdued despite bullish commodity prices, leading to concerns that the sector is being unreasonably discounted on ESG grounds that have rocketed up the agenda for investors since the onset of COVID-19.
Despite Brent oil prices now back above $US76 a barrel and LNG spot prices in Asia at the highest for this time of year since 2013, the market values of companies such as Woodside Petroleum and Oil Search remain well below pre-pandemic levels, in contrast to many European and US peers.
A watershed week underscoring climate risks for oil and gas multinationals has heightened doubts around multi-billion dollar new projects and the investments needed to underpin a gas-fired recovery.
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Bernd Struben earned his economics degree in the US. Following several years writing about the tourism industry in the Caribbean, he moved to The Netherlands to cover the EU s booming commercial real estate markets. He moved to Australia in 2010, where he transitioned to analysing the Aussie equity markets. He employs a combination of macro economics and company specific data to gauge what he believes are tomorrow s best investments. In his free time, you re likely to find Bernd at the beach or dabbling away on a new work of science fiction.
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Bernd Struben earned his economics degree in the US. Following several years writing about the tourism industry in the Caribbean, he moved to The Netherlands to cover the EU s booming commercial real estate markets. He moved to Australia in 2010, where he transitioned to analysing the Aussie equity markets. He employs a combination of macro economics and company specific data to gauge what he believes are tomorrow s best investments. In his free time, you re likely to find Bernd at the beach or dabbling away on a new work of science fiction.
What resurgent inflation really means for your ASX shares
Bernd Struben | May 14, 2021 12:38pm |
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And for good reason.
Inflation is to economies and share markets as salt is to a meal.
Most economists argue you want a little inflation (say 2–3%) to keep consumers and businesses spending, deflate mountainous government debt piles, and generally keep things ticking along. But if you add too much you spoil the broth. (Pardon the mixed analogies.)
The latest figures you need to know
Now, the latest inflation figures out of Australia remain subdued…for now. The headline consumer price index (CPI) rose 0.6% in the first quarter of the year compared to the previous quarter.