Venture: Update - Middle East

Issue 111;

The missile strikes on Iran have stirred markets with large moves in natural gas, oil, and precious metals. The dollar is also up.

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UK natural gas has risen by 55% today, whereas it has barely moved in the US.

UK and US Natural Gas

Source: Bloomberg

Putting that into perspective, the price of gas has shot up, but it is still well below levels seen in 2021/22. Most UK imported gas comes from Norway and the USA, but some comes from Qatar.

UK Natural Gas – 10 Years

Source: Bloomberg

Gold is strong on the back of bad news, as investors flee to safety. The price has retested the all-time high from January.

Gold

Source: Bloomberg

Silver still has a way to go to make a new all-time high and has stalled today. That said, it is back above all moving averages and recently made a 20-day new high.

Silver

Source: Bloomberg

The measure of implied volatility in the stockmarket, a gauge of fear, has moved higher again. While the VIX hasn’t broadly had much coverage, it has been above trend for the past month.

The VIX

Source: Bloomberg

S&P Futures have a ByteTrend Score of 2. The 200-day moving average is in good shape, and the price is above, but the rest of it isn’t. Short-term, a break lower seems likely.

S&P Futures

Source: Bloomberg

Oil stocks are higher, and Banks, Consumer Goods (Luxury), and Travel are lower.

UK and European Stoxx 600 Index Today

Source: Bloomberg

There is no new stock recommendation today, as events have taken over. However, we have updates on four Venture stocks.

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