Key News Overnight:
The chances for an interest rate cut from the RBA in February is about 66 per cent right now; with another cut after that next year a fifty-fifty proposition.
Donald Trump is on track to be impeached, possibly before Christmas. Speaker Nancy Pelosi said the House will draft articles of impeachment against the president for abusing his office by pressuring Ukraine to help win the 2020 election. Trump was defiant, reiterating that Democrats have no case and urging a quick trial in the Senate.
U.S. trade with China extended its slide in October as imports from the nation fell to a fresh three-year low, oil gave back earlier gains as the additional cuts to supply quotas agreed to by OPEC and its allies appear to remove little supply from the market. Spot precious metal prices were higher across the board, led by silver, while nickel climbed in London.
Saudi Aramco priced its shares at 32 riyals ($8.53), the top end of a marketed range, valuing the company at $1.7 trillion and making it the world’s largest IPO. The share offering was 4.65 times oversubscribed, with most of the money coming from local investors. It raised $25.6 billion and received total bids of $119 billion.
In This Issue:
St Barbara Ltd (SBM) | MD and CEO transition | BUY | Analyst | James Wilson
Strike Energy (STX) | STX completes the Walyering 3D seismic campaign | Not covered | No rating
Panoramic Resources (PAN) | Equity raising – rejects IGO’s offer | Not covered | No rating
Primero (PGX) | Contract award and capital raise | Not covered | No rating
Red 5 Ltd (RED) | Agrimin (AMN) | Perenti (PRN) | Aspire Mining (AKM) | Otto Energy (OEL) | Cardinal Resources (CDV)