Key News Overnight:
The US stock market hit fresh record highs on Friday. The latest rally was catalysed by, on balance, some better than expected US economic data, as well some relatively positive trade-war headlines.
Saudi Aramco has confirmed it’s planning to list on the Riyadh stock exchange, in what could be the world’s biggest IPO. The Saudis are expected to make shares available for 1% or 2% of the firm, and the offer will be for existing company shares.
The US dollar dropped on Friday after data showed a mixed view on the economy, and as optimism that the United States and China will reach a deal to end their trade war reduced safe-haven demand for the greenback.
The CoreLogic Home Value Index of national home prices rose by 1.2 per cent in October, the biggest increase since May 2015. Australian state capital city home prices rose by 1.4 per cent – also the biggest lift in almost 4½ years.
WBC and CBA’s chief executives will front up to the federal parliament’s powerful banking committee on Friday for the first grilling since the major banks failed to fully pass on the most recent cut to official interest rates by the Reserve Bank last month.
In This Issue:
Austal (ASB) | Reiterates guidance | HOLD | Analyst | Ian Christie
Macmahon (MAH) | Telfer contract resolution | BUY | Analyst | Ian Christie
SRG Global (SRG) | Retirement of Non-Exec Chair | BUY | Analyst | Ian Christie
Otto Energy (OEL) | OEL Closes a US$55m Debt Deal | BUY | Analyst | Michael Eidne
Recent Research:
Triangle Energy (TEG) | SCEE (SXE) | Matrix (MCE) | Dacian Gold (DCN)
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