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
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