Key News Overnight:
U.S. equities fell as investors took a cautious approach to a week of central bank activity. Treasuries edged lower and gold retreated. The S&P 500 slipped for a second day after Friday’s blow- out jobs report altered market calculus for Fed rate cuts.
The S&P/ASX 200 index fell 1.2% to close at 6,672.20, sliding the most since June 3. BHP Group Ltd. contributed the most to the move after iron ore sunk on Friday.
Deutsche Bank AG’s reorganisation will leave thousands out of work. The German lender’s turnaround plan, including an exit from the equities sales and trading business, will slash Deutsche’s workforce by about 18,000 employees globally.
The gold market is seeing the biggest price swings since late 2016 as traders and investors struggled to read when the Federal Reserve may cut interest rates.
Oil plunged in the last few minutes of trading as economic anxiety hangs over the market. Futures gave up more than 1% of the day’s gains moments before settlement, closing just 0.3% higher in New York on Monday.
In This Issue:
Pantoro Ltd (PNR) | June Quarter and Norseman update | BUY | Analyst | James Wilson
Alkane Resources (ALK) | Exploration Target of 0.9-1.7Moz at Tomingley | Not covered | No rating
Calidus Resources (CAI) | Acquisition of additional tenements | Not covered | No rating
Recent Research:
June Quarter Preview and Commodity Outlook | Analysts | Matthew Keane, Helen Lau & James Wilson
Gold Sector Update & June Quarter | Analysts | James Wilson & Matthew Keane
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