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November 08, 2024

EP43: Stocks soar as Trump & Republicans sweep US election

44 minutes

US Election Impact: Donald Trump secured a decisive victory in the 2024 U.S. presidential election, defeating Kamala Harris. The Republican Party also made gains in Congress. Markets rallied in response, with key sectors like finance, energy, and defence expected to benefit.

Market Movements:

Gold initially fell $90 to $2650 after the election but recovered to around $2700

Silver dropped to $31 but rebounded to $32

Bitcoin and other cryptocurrencies rallied, with Dogecoin up 30%

Company News:

Mineral Resources (MIN): Chris Ellison to step down as managing director following investigation

Sigma Healthcare (SIG): ACCC approves merger with Chemist Warehouse

ANZ Group (ANZ): Reported cash profit of $6.7 billion, down 8% year-over-year

Featured Investment: Buy recommendation for Polynovo (PNV), a medical device company showing strong revenue growth and market expansion.

This weekly report provides in-depth analysis of market trends, political developments, and investment opportunities to keep investors informed in a rapidly changing economic landscape.

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By MPC Markets