1.Yes, as gas is used to generate power in many power stations- thus the explosion in power demand by Data Centres & AI growth directly benefits STO.
2.China had, by far, the world's most severe, widespread, & lengthy covid restrictions- which were only lifted in December 2022.
These severe covid restrictions had shrunk its economy significantly- but many predicted growth, & its voracious demand for fossil fuel imports, would return by mid to late 2023. This has still not happened (Experts state the disastrous &massiveoverbuilding/glut of unoccupied, new dwellings- causing major price falls, insolvencies etc.- is mainly responsible).
It appears there are now the first real signs of economic growth- factory activity in 2024 grew to high, "normal" levels. If China's economy is starting to rebound, this bodes well for higher gas prices- & for STO gas exports to China.
The Market Herald Online J. Davidson said 30.4.24"The Chinese economy matters for Australia for a few reasons, but there’s two very big ones.
The first one is obvious: iron ore sales (& met & thermal sales- my words). Treasurer Jim Chalmers has been saying for months that as iron ore prices fall, driven by a weaker Chinese demand base due to that country’sproperty sector woes, our budget surplus will falter.
(With that said,SGX iron ore futures are back to US$116/tn.)...
Which is why it’s interesting that – should you trust the Chinese data –factory activity is at a 14 month high, which we learned on Tuesday.
Chinese industrial production hit pre-COVID levelsback in February of this year, even as the country struggles withdeflationary pressure, which it’s beengrapplingsince mid-late 2023.
All in all, it’s hard to make sense of China right now – a lot of the numbers don’t appear to add up, but the country is deeply complex and language barriers make reliable high-quality analysis more difficult...
Also worth noting is that the CH50 index is having a fairly good week, compared to its recent doldrums.
M&G Investments equities chief Fabiana Fedeli revealed on Monday that firm had exposed itself to Chinese markets early 2024; while Philips CEO Roy Jakobs expects a recovery in H2CY2024 – though, alotof people are saying that".
Oz Economic Indicators: Retail sales weakest on record & China factories hit 14mth high | 2024-04-30 | HotCopper
- Forums
- ASX - By Stock
- STO
- STO Well positioned
STO Well positioned, page-541
-
-
- There are more pages in this discussion • 106 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add STO (ASX) to my watchlist
|
|||||
Last
$7.36 |
Change
0.090(1.24%) |
Mkt cap ! $23.61B |
Open | High | Low | Value | Volume |
$7.34 | $7.37 | $7.32 | $7.728M | 1.051M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 12793 | $7.36 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.37 | 28974 | 21 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 6405 | 7.360 |
22 | 34985 | 7.350 |
22 | 35997 | 7.340 |
16 | 29201 | 7.330 |
14 | 56882 | 7.320 |
Price($) | Vol. | No. |
---|---|---|
7.370 | 20564 | 21 |
7.380 | 60577 | 16 |
7.390 | 24859 | 11 |
7.400 | 46870 | 14 |
7.410 | 57018 | 8 |
Last trade - 10.28am 27/08/2024 (20 minute delay) ? |
Featured News
STO (ASX) Chart |