Key News Overnight:
U.S. stocks fell for a second day after the Fed did little to encourage rate cut talk and amid concerns that a trade deal with China remains elusive. Treasuries dipped, with 10-year yields rising four basis points, while the dollar gained against every G-10 counterpart.
Oil tumbled to its lowest in a month despite the promise of tighter sanctions on Iran, as investors saw the U.S., Russia and Saudi Arabia all potentially filling the supply gap.
Brazil’s exports of iron ore fell to the lowest in seven years as the impact deepens from output curbs following the dam disaster at the country’s biggest producer, Vale.
Shares of gold-mining companies extended a slump, dragged lower by sinking prices for the metal after comments from the Federal Reserve helped bolster the dollar.
Base metal prices were lower on the London Metal Exchange on Thursday. Zinc prices fell by 1.6% on worries about global demand and as inventories climbed.
In This Issue:
Carnarvon Petroleum (CVN) | Dorado-2 Well Spuds| SPEC BUY | Analyst | Michael Eidne
Woodside Petroleum (WPL) | WPL AGM | Not covered | No rating
Iron ore/Steel: Iron ore Prices bolstered by restocking | Analyst | Helen Lau
Recent Research:
ASB, SWK, KDR, IGO, RRL, WSA, DCN
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