Key News Overnight:
U.S. stocks surged and Treasuries tumbled as positive data bolstered confidence in the American economy. Tech shares led gains after China and the U.S. agreed to trade talks next month, and the S&P 500 came within 2% of an all-time high. The dollar was mostly lower, with the pound leading G-10 gains as Boris Johnson tried to salvage his Brexit policy. Gold plunged more than 2% while oil was flat.
Boris Johnson is doubling down on his push for a general election Oct. 15 or even earlier and said he’d rather be “dead in a ditch” than ask for a delay to Brexit beyond Oct. 31. The U.K.’s House of Lords is debating a bill to block a no-deal exit until Friday, and there’ll be another vote Monday in the House of Commons on having an early election.
Oil closed little changed after rallying to a five-week high earlier in the day as investors re-focused on the uncertain outlook for global demand. Nickel tumbled after Indonesia said it would allow miners to add to export quotas before a ban begins next year. Silver led losses for most precious metals.
In This Issue:
Exploration on the up | Analyst | Ian Christie
Fortescue Metals (FMG) | US$600m bond offering | SELL | Analyst | James Wilson
Cooper Energy (COE) | New gas discovery at Annie | Not covered | No rating
Strike Energy (STX) | Further gas discovery in the High Cliff | Not covered | No rating
St George Mining (SGQ) | VRX Silica (VRX) | Perenti (Ausdrill) (ASL) | Austal (ASB) | Peet (PPC) | Macmahon (MAH)