Key News Overnight:
China acted to shore up the yuan, telling foreign companies the currency won’t weaken significantly, and White House economic adviser Kudlow indicated President Trump is flexible on China tariffs depending on how trade talks go.
As a result, markets recovered overnight on the hope trade tensions will not escalate, with the S&P500 up 1.3% and the Dow up 1.2%, snapping a 6-day losing streak.
The Fed’s Bullard said rates are in the right neighbourhood, and it is too soon to specify what additional action may be needed, while four former Fed chairs stressed the need for central bank independence.
Gold rose for a third session, fuelled by the U.S.-China trade-war, but gains earlier in the day were buffeted by the People’s Bank of China’s steps to slow the yuan’s decline.
In This Issue:
Contract Miners: Winning work last 3 years | Ian Christie
Saracen Mineral Holdings (SAR) | Reserve update underpins 7 year life | SELL | Analyst | Matthew Keane
Independence Group (IGO) | Puttin’ on cash | HOLD | Analyst |Matthew Keane
Saracen (SAR) | Independence Group (IGO)