Key News Overnight:
A meeting between US and Chinese presidents to sign a long-awaited trade deal could be delayed until December as discussions continue over terms and a venue, according to Reuters, quoting a senior Trump administration official.
Australia’s two biggest banks have urged the Federal Government to bring forward income tax cuts to boost the flagging economy. CBA and Westpac said the case for tax cuts was far stronger than other monetary or fiscal policy alternatives.
National Australia Bank (NAB) has joined its other big four bank peers in announcing a 2019 profit ravaged by the costs of remediating years of misconduct. The full-year dividend was cut by 16%to $1.66 & net profit of $4.8 billion, down 13.6%.
The gold futures price rose by US$9.40 or 0.6% to US$1,493/oz. Spot gold was trading near US$1,490/oz, up US$7.10 in late US trade.
Oil prices took a little spill overnight, as a result of bearish news stories. The latest speedbump in the US-China trade war as well as US Crude Inventory data showed a much bigger than expected build last month were contributing factors.
In This Issue:
Perenti (PRN) | Security incident in Burkina Faso | BUY | Analyst | Ian Christie
Otto Energy (OEL) | Drilling and Reserves Update| BUY | Analyst | Michael Eidne
State Gas (GAS) | Operational Update | Not covered | No rating
Ni: Weak Demand and Increase Supply of NPI | Analyst | Helen Lau
Decmil (DCG) | Cardinal Resources (CDV) | Triangle Energy (TEG)