Key News Overnight:
The U.K. is stepping up preparations for a no-deal Brexit as talks with the EU turned sour. Boris Johnson told Angela Merkel an agreement is essentially impossible if the EU demands Northern Ireland stay in the bloc’s custom union. As the pound fell, the U.K. published a report setting out its contingency planning in the event of a hard exit.
U.S. stocks sank on China trade pessimism ahead of bilateral talks, with chipmakers leading declines. Treasuries advanced, with 10-year yields falling below 1.51% before rebounding somewhat. The dollar was mostly higher, with the pound leading G-10 declines on the latest Brexit concerns.
Australia’s tax office postponed a rule forcing large private companies to disclose their most contentious tax arrangements until July 1, 2020.
Oil settled close to a two-month low on fading prospects for a resolution to the protracted U.S.-China trade dispute. Gold rebounded as ETFs extended their buying spree and some analysts urged buying the dip. Other precious metals were also higher. Copper, lead and nickel dropped on the LME.
In This Issue:
Stanmore Coal (SMR) | More time for potential takeover bid | BUY | Analyst | Matthew Keane
Dacian Gold (DCN) | Preliminary Sept Q production| HOLD | Analyst | James Wilson
Strandline Resources (STA) | Seeking NAIF funding for Coburn Project | Not covered | No rating
Energy Resources Australia (ERA) | September Q results | Not covered | No rating
Swick (SWK) | GR Engineering (GNG) | Metro Mining (MMI) | Sandfire Resources (SFR) | Saracen Mineral Holdings (SAR) | Potash Sector Review