12 January 2026 | Weekly Snapshot
Saward Dawson > Wealth Advisory Insights > Weekly Snapshot > 12 January 2026
Did you know?
Venezuela reports the largest oil reserves of any country across the globe. Alone, Venezuelan reserves represent 303 billion barrels, which is equivalent to 8 years worth of total global oil consumption, so no wonder it has come under the geopolitical microscope.
Market Movements
The Australian market was basically flat last week. Resources (up 1.6%) and Tech (up 1.9%) led the gains, whilst financials were weakest (down 2.5%). Commodities were generally strong with Gold up 1.2%, iron ore up 1.8% and copper up 3.9%. Natural Gas bucked the trend (down 10.1%). BlueScope was up 24% (more on this below) whilst CBA fell 4.9%.
In the USA, markets were much stronger with the S&P500 index up 1.6%, boosted by favourable housing policy announcements, including buying US$200bn worth of mortgage-backed securities, which aims to reduce the borrowing costs for mortgages. China was the strongest index, up 5.1%, with further government measures to also lower home mortgage rates and relax homebuyer rules.
The year has started off with strong geo-politics news flow including both Venezuela and Greenland, in both cases with the US asserting their influence. US President Trump reiterated his past interest in Greenland, framing it as strategically important for both national and international security, including their large development opportunities for rare earths. Greenland has not welcomed the USA’s interest and the situation is poised between military escalation and dealmaking. In Venezuela, the US is seeking to increase their influence over Venezuela’s oil production, where over two-thirds of production goes to China.
On economics, Australian inflation for November was 3.4%, below the 3.8% reading for October. The market is pricing in little chance of a rate hike for February’s meeting
Portfolio Movements
Takeover offer the BlueScope (BSL) at $30/share
- BlueScope Steel, Australia’s largest steel producer, confirmed it had received an unsolicited takeover proposal from a consortium led by Seven Group Holdings (SGH) — formerly known as Seven Group. Offer Value: Around A$13–13.15 billion (approx. US$8.78 billion) or A$30 in cash, representing a significant premium to BlueScope’s recent closing price of A$24.45. The offer is Indicative and non-binding at this stage.
- BlueScope has stated it is assessing the proposal and has not yet made any recommendation to shareholders
- BSL shares last traded at $29.77
James Hardie (JHX) stronger on US policy announcements
- Trump has instructed the purchase of US$200bn worth of mortgage-backed securities. IN 2010, markets referred to this activity as quantitative easing or QE. This buying will have the effect of increasing bond prices and lowering the yield or borrowing rate. Market participants suggest this will lower mortgage rates by up to 0.15%.
- James Hardies has a dominant position in the US housing and construction market. A lower borrowing rate will result in an uptick in the housing market.
- JHX is up approx. 10% over the past week as a result
Meta announces nuclear energy projects to power American leadership in AI innovation
- Meta announced a new nuclear energy projects, unlocking up to 6.6 GW of energy capacity
- The agreements with Vistra, TerraPower, and Oklo will extend and expand the operation of three nuclear power plants, boosting the development of new advanced nuclear technology.
- The company noted that supporting nuclear energy development strengthens America’s energy infrastructure and helps create a more reliable electric grid, key to powering the economy and securing America’s energy independence and global leadership in AI.
- The price for Meta shares was basically unchanged last week
The Week Ahead
- Tuesday 13th Jan: China new car sales for December: expected 3.4% (November month was 3.1%)
- Wednesday 14th Jan: USA: CPI of 0.3% (December month) and 2.7% year on year (expected) vs 0.3% (November). USA monthly budget statement: US -$173b (December vs -$250b for November). Australia: Building permits down 6.1% for November (previous month up 20.2%)
- Thursday 15th Jan: USA retail sales up 0.4% November (prior month was 0.1%). USA existing home sales (December) 4.13m vs November 4.06m
- Friday 16th Jan: USA initial jobless claims: 208k (January) vs prior month of 212k
Saward Dawson Wealth Advisors Pty Ltd, a Corporate Authorised Representative of Akambo Pty Ltd t/a Accountants Private Advice
The information presented in this publication is general information only, and is not intended to be financial product advice. It has not been prepared taking into account your investment objectives, financial situation or needs, and should not be used as the basis for making an investment decision. Before making any investment decision you need to consider (with your financial adviser) your particular investment needs, objectives and financial circumstances.
Some numerical figures in this publication have been subject to rounding adjustments. Akambo Pty Ltd (including any of its directors, officers or employees) will not accept liability for any loss or damage as a result of any reliance on this information. The market commentary reflect Akambo Pty Ltd’s views and beliefs at the time of preparation, which are subject to change without notice.
