Key News Overnight:
U.S. and Iran tensions remain a big issue: This conflict remains a focus for the financial markets. Global markets were sent into a tizz upon the release of news that Iran, in retaliation to the assassination of one of its top General’s, Qassem Soleimani, had attacked two U.S. military bases in Iraq.
The panic in markets abated, however, after both the US and Iran signalled their desire to avoid all-out warfare. The Iranians stated that the strikes were a “proportionate” response to the killing of Soleimani, and did not seek further conflict.
Boeing shares dropped after the latest disaster. Shares tumbled by over 1% in the Wall Street session, off the back of news another of its aircraft had crashed yesterday in Iran, reportedly due to a major technical fault just after take-off.
Australian economic data printed better than expected yesterday. Local Buildings Approvals data exceeded expectations, showing that approvals expanded by 11.8%, against an estimated 2.1%. The figures contributed to hopes that the broad downturn in construction activity may be subsiding.
Oil prices unwound early gains closing down, while gold prices fell to US$1,556 after exceeding US$1,600.
In This Issue:
Monadelphous (MND) | Contract wins | Not covered | No rating
Galaxy Resources (GXY) | 2019 guidance achieved | Not covered | No rating
Antipa Minerals (AZY) | RIO earns 51% in Citadel Project | Not covered | No rating
Steel: Flat Steel Outperforming Long Steel | Analyst | Helen Lau
Recent Research:
Independence Group (IGO) | Myanmar Metals (MYL) | Macmahon (MAH) | OZ Minerals (OZL) | Northern Star (NST) & Saracen Mineral Holdings (SAR) | Decmil (DCG) | CTI Logistics (CLX)
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