Key News Overnight:
US stocks fell overnight as investors grew anxious that the Trump administration won’t reach a trade deal to avert new US tariffs on Chinese goods. The Dow Jones and S&P 500 both slipped 0.9% to 25,170 and 2,706 respectively as President Donald Trump said a meeting with Chinese President Xi Jinping is unlikely before the March 1 deadline;
Brexit talks were pushed closer to the brink after Prime Minister Theresa May’s day of negotiations in Brussels failed to make any significant breakthrough;
Global oil prices fell overnight amid increasing concerns that a softening global economy will lead to reduced demand for oil. Brent crude fell 1.6% to $US 61.70/bbl;
Major global steel producers are sounding the alarm over weakening conditions, particularly in China. The country, which uses half of the world’s steel is expected to see a fall in demand, the first contraction since 2015;
Bullish sentiment is growing louder for copper prices in 2019 despite slipping 0.5% to $US 6,228/t overnight. The metal’s value is expected to rise as stockpiles dwindle, equity markets rebound and the pace for US Fed rate hikes slows
In This Issue:
Peet (PPC) | Interims preview | BUY | Analyst: Ian Christie;
Gascoyne Resources (GCY) | Site Visit | SPEC BUY | Analyst: James Wilson;
Austal (ASB) | Longer term confidence boost | BUY | Analyst: Ian Christie;
Otto Energy (OEL) | Otto Energy – Lightning Strikes: Green#1 is a discovery | BUY | Analyst: Michael Eidne;
Gage Roads (GRB) | First half update | BUY | Analyst: Ian Christie
Recent Research:
PPC, GCY, ASB, OEL, GRB
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