Key News Overnight:
The war of words between the US and Iran has captured the greatest attention in the past 24 hours, as market participants attempt to decipher what material impact escalating tensions in the Middle East will have on global markets. Stock indices have vacillated to begin the week, Safe have currencies outperformed growth sensitive ones, as did gold
Oil and gold prices have been the two most closely watched assets as traders digest the implications of the assassination of Iranian General Qassem Soleimani by the US. Last night, oil fell, seemingly as the market discounted a lower likelihood that either the Iranians or US will target energy assets during this conflict
Australian economic data, and the accompanying analysis, was negative yesterday. ANZ Consumer Confidence figures were released, and revealed a drop-in consumer sentiment in the Australian economy last week. The dynamic was largely attributed to the effects of the current bushfire crisis in Australia
Base metal prices were mixed on the London Metal Exchange. Aluminium lost 0.8% and lead lost 0.7%. However, other metals rose up to 1.2% with zinc up the most. Copper rose just 0.2%
In This Issue:
Independence Group (IGO) | FY20 first half production above guidance| HOLD | Analyst | Matthew Keane
Paringa Resource (PNL) | Suspension Update | Recommendation under review | Analyst | Matthew Keane
Resolute Mining (RSG) | Preliminary December Q production | Not covered | No rating
Nickel: Short-term Outlook Remains Negative | Analyst | Helen Lau
Recent Research:
OZ Minerals (OZL) | Northern Star (NST) & Saracen Mineral Holdings (SAR) | Decmil (DCG) | CTI Logistics (CLX)
Please read Argonaut’s Important Disclaimers & disclosures
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