Key News Overnight:
Global markets closed yesterday relatively unchanged, with the Dow Jones down 22 points and the S&P 500 up 2 points. The ASX All Ords index finished up 42 points, recovering some of the previous day’s losses.
Investors are weighing how to react to a wave of monetary easing by central banks across the world as global bond yields fell to new lows amid fear of a global recession.
Donald Trump stepped up his assault on the Fed, renewing his demands for “bigger and faster” rate cuts. “Incompetence is a terrible thing to watch,” he wrote in a series of tweets that shrugged off concerns about China.
After a two-year slide, Australian house may have bottomed out, sending buyers back to the market. Home values in Sydney have risen in each of the past two months, according to CoreLogic, ending a 15% slump from the July 2017 peak.
The economic fallout from the political protests in Hong Kong is broadening, with Cathay Pacific being the latest to say its business is taking a hit. Ticket sales dipped as fewer people took Cathay flights into Hong Kong in July.
In This Issue:
Interest rates and the A$ | Ian Christie
Stanmore Coal (SMR) | Non-binding, indicative takeover proposal | BUY | Analyst | Matthew Keane
Centaurus Metals (CTM) | Option to acquire large scale nickel deposit | Not covered | No rating
Otto Energy (OEL) | “Bulleit” well intersects oil pay in the deeper zones| BUY | Analyst | Michael Eidne
Saracen Mineral Holdings (SAR)
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