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01/08/2019 – Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 01/08/2019 – Argonaut Morning Note
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    01/08/2019 – Argonaut Morning Note

    By Jonas Dorling | Morning Notes | 0 comment | 1 August, 2019 | 0

    Key News Overnight:

    U.S. equities fell the most in two months, while two-year Treasury yields rose as Jerome Powell dented hopes that the Federal Reserve is poised to continue easing after delivering the first interest-rate cut in over a decade.

    The S&P/ASX 200 index ended July with a day in the red, however that was not enough to stop the index from recording an impressive 193.8 points or 2.9% gain last month, closing yesterday at 2,980 points.

    The Trump administration yesterday imposed sanctions against Iranian Foreign Minister Javad Zarif in a provocative move that diminishes the prospects for a diplomatic solution to rising tensions that have brought the U.S. and Tehran to the brink of war.

    Oil closed at its highest level in more than two weeks and then stumbled after Federal Reserve Chairman Jerome Powell seemed to dim hopes for more interest rate cuts. Brent and WTI closed at US$65.05 and US$58.58 respectively.

    Spot gold fell to US$1413.4 as traders viewed comments from Federal Reserve Chairman Jerome Powell as signalling the central bank likely won’t be aggressive in lowering U.S. interest rates further.

    In This Issue:

    Northern Star Resources (NST) | June Quarterly report| HOLD | Analyst | James Wilson

    Saracen Mineral Holdings (SAR) | Reserves backfill 7-year life | SELL | Analyst | Matthew Keane

    GR Engineering (GNG) | Red 5 delivers maiden resource and PFS | BUY | Analyst | Ian Christie

    Recent Research:

    Saracen Mineral Holdings (SAR) | Quantifying upside, questioning value | SELL | Analyst | Matthew Keane

    Independence Group (IGO) | Puttin’ on cash | HOLD | Analyst |Matthew Keane

    Swick (SWK) | Meets FY19 guidance | SPEC BUY | Analyst | Ian Christie

    Pacific Energy (PEA) | Bid recognises value and visibility | HOLD | Analyst | Ian Christie

    Evolution Mining (EVN) | June Q Report | SELL | Analyst | James Wilson

    St Barbara Ltd (SBM) | June Q Report | HOLD | Analyst | James Wilson

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