Key News Overnight:
U.S. President Trump’s new tariffs on $110b in Chinese imports kicked in on Sunday, as did retaliatory levies by China. The 15% duty hit consumer goods ranging from footwear to apparel and certain tech gadgets like the Apple Watch. Face-to-face talks between Chinese and American trade negotiators are scheduled for September in Washington.
Asian equity futures are pointing to a lower open to kick off September. That after U.S. equities saw their first monthly decline since May despite finishing mostly higher on Friday. American markets are closed for the Labor Day holiday.
UK Prime Minister Boris Johnson all but sounded the election gun. In an interview with the Sunday Times, he pledged billions of pounds in spending and told lawmakers from his party to back his Brexit plan or risk having to find another party.
Oil extended its biggest monthly decline since May 2019 as concern over U.S. and China trade tensions outweighed signs that OPEC’s supply cuts are trimming stockpiles. WTI futures fell 2.8% on Friday, extending August’s slide to almost 6%. Gold dropped, while other precious metals, nickel and tin climbed.
In This Issue:
Breaker Resources (BRB) | Bombora Resource update | Not covered | No rating
CTI Logistics (CLX) | First take FY19 results | BUY | Analyst | Ian Christie
Hazer Group (HZR) | HZR ARENA funding successful | SPEC BUY | Analyst | Michael Eidne
St George Mining (SGQ) | New Massive sulphide discovery at Mt Alexander | SPEC BUY | Analyst | Matthew Keane
Perenti (Ausdrill) (ASL) | Austal (ASB) | Peet (PPC) | Macmahon (MAH) | Triangle Energy (TEG) | Decmil (DCG) | SCEE (SXE) | Valmec (VMX) | Sandfire Resources (SFR) | SRG Global (SRG) | Austin Engineering (ANG)