Morning Update: Global Markets Recover as M&A Deals Drive Valuations...

Niv Dagan

Peak Asset Management

Good Morning, You got to love the “emotional” roller coaster of markets… Yesterday, the XJO fell by ~ 75 points, as iron ore & oil producers got hit, following significant weakness in commodities. Last night, US stocks rebounded (Dow up 263 points), from a sharp decline last week, helped by deal activity, especially in healthcare. What a turnaround…. Also boosting investors' risk appetite, Chinese stocks surged to seven-year highs, helped by hopes for more infrastructure spending and monetary policy easing. Among the deals announced on Monday in the US, Teva Pharmaceutical said it would buy Auspex Pharmaceuticals for $US3.5 billion. Ireland's Horizon Pharma said it would acquire Hyperion Therapeutics in an all-cash deal worth about $US1.1 billion. There appears to be a fair amount of M&A activity on markets, driving valuations higher… This is a good sign… Commodities were lower last night with Crude Oil down 0.53% to $48.61/barrel, Gold down $14.80/oz. to $1,185oz. and the AUD/USD now trading at $0.7680 The SPI is pointing to a 54 point rise this morning.

Niv Dagan
Niv Dagan
Executive Director
Peak Asset Management

Prior to founding PEAK Asset Management, Niv headed up HC Securities, spent three years growing Halifax Investments capital markets division and also worked on the wholesale desk at Macquarie Bank, servicing a wide range of institutional,...


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