Key News Overnight:
U.S. stocks dropped on pessimism over China trade talks and weak factory data, sending the Dow and Nasdaq both down more than 1%. The dollar was narrowly weaker, making the Aussie the best G-10 performer. Oil declined and gold advanced.
U.K. lawmakers took the first step toward blocking a no-deal Brexit, voting 328-301 to take control of the parliamentary agenda. As he threatened earlier, Boris Johnson responded by saying the government was proposing a motion for snap elections.
Expectation for Australia’s economic growth is for little changed in the second quarter from the previous quarter, with GDP expanding 0.5%. Year-on-year growth may have slowed to 1.4% from 1.8%.
The U.S. and China trade war continued to roil the oil market, with WTI futures falling to the lowest in a week. Crude was also undermined by plunging gasoline prices as Hurricane Dorian threatened the U.S. East Coast and prompted evacuation orders from Florida to the Carolinas.
In This Issue:
Cardinal Resources (CDV) | Appointment of COO | BUY | Analyst | James Wilson
Orthocell (OCC) | Successful tendon regeneration trial | SPEC BUY | Analyst | Michael Eidne
Carnarvon (CVN) | Dorado-3 wireline results support flow testing | SPEC BUY | Analyst | Michael Eidne
Exore Resources (ERX) | Drilling extends oxide mineralisation at Antoinette | Not covered | No rating
St George Mining (SGQ) | VRX Silica (VRX) | Perenti (Ausdrill) (ASL) | Austal (ASB) | Peet (PPC) | Macmahon (MAH) | Triangle Energy (TEG) | Decmil (DCG) | SCEE (SXE) | Valmec (VMX)