Key News Overnight:
US stocks fell overnight as investors weighed corporate earnings against ongoing concerns over trade and another potential government shutdown. The Dow Jones fell 0.1% to 25,390 while the S&P 500 dropped 0.2% to 2,732;
Iron Ore extended its rally overnight after Vale SA declared force majeure on some contracts, exacerbating concerns of a global shortfall. Iron Ore 62% Fe rose 2.3% to $US 87.30/t, adding margin pressures to steel makers who are already facing declining prices and cooling demand;
Growing concerns over a no-deal Brexit are colliding with a slowing UK economy as the March 29 deadline approaches. January surveys showing ebbing consumer confidence and a weakening property market suggest the UK economy is at risk of stagnating;
Global oil prices rebounded Wednesday after a report highlighted surprisingly strong gasoline demand and a drawdown of heating fuels in the US, mediating worries of a global oversupply. Brent crude rose 1% to $US 62.57/bbl;
Gold prices fell for the third time in four sessions amid growing optimism about the fate of US-China trade talks. Gold fell 0.7% to $US 1,306.2/oz
In This Isue:
Ausdrill (ASL) | $100m additional work for Hindustan Zinc | BUY | Analyst | Ian Christie;
Austin Engineering (ANG) | Sale of Chile crane assets | BUY | Analyst | Ian Christie;
Echo Resources (EAR) | Mt Joel Drill Results | SPEC BUY | Analyst | James Wilson;
Stealth Global (SGI) | Half year trading highlights | SPEC BUY | Analyst | Ian Christie;
Recent Research:
ASL, ANG, EAR, SGI, PPC, GCY, ASB, OEL, GRB, FMG, IGO, DRM, BOT
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