Key News Overnight:
Investors are demanding US Treasuries, favouring shorter maturities in particular, on the growing conviction that the Federal Reserve will cut borrowing costs this year to contain the fallout from trade tensions.
Donald Trump called on the U.K. to throw off the “shackles” of European Union membership and strike a free- trade deal with the US, as the president again weighed into domestic politics during his state visit to Britain.
Gold posted a fourth straight gain, reaching US$1324.8/oz, as escalating concern about the U.S.-China trade standoff, losses in equities and concerns about slowing economic growth spur haven demand.
Oil edged closer to a bear market collapse as Wall Street banks raised the spectre of a recession, while Saudi Arabia tried to assure investors that OPEC will avert a supply glut.
Zinc fell to a four-month low in London as escalating tensions and a deteriorating technical outlook put fresh pressure on base metals. Nickel and Aluminium also dropped by over a percent each.
In This Issue:
SRG Global (SRG) | Transpower NZ asset services contract renewal | BUY | Analyst | Ian Christie
Cardinal Resources (CDV) | Aachen to enhance Namdini | BUY | Analyst | James Wilson
Berkeley Energia (BKY) | Correction to previous announcement | SELL | Analyst | Matthew Keane
NRW Holdings (NWH) | Market update | Not covered | Ian Christie
Myanmar Metals (MYL)