Key News Overnight:
The coronavirus has killed at least 813 people, exceeding the global death toll from the SARS outbreak almost two decades ago. Reported cases in China—which said it’s spent 31.55 billion yuan ($6.7 billion) to combat the disease — exceed 37,000.
Stock markets pulled back on Friday, as investors de-risked ahead of the weekend, while coronavirus uncertainty remains high. US stocks receded from their record levels.
Fears about weaker Chinese economic activity dragged on commodity prices once again on Friday. WTI Crude prices flirted with the psychological $50 per barrel mark, to close trade 1.24 per cent lower.
S&P announced a downgrade to its growth forecast for the Chinese economy this year, to 5.0% to 5.7%. Market participants continue to question the durability of the nascent recovery in global economic activity following the coronavirus outbreak.
The Australian Dollar also fell on heightened concerns about slower Chinese economic growth. It dropped to a new post-GFC low of 0.6662. The currency fell despite what was a relatively upbeat appraisal of the Australian economy by the RBA
In This Issue:
Atrum Coal (ATU) | Total Elan Project Resources Exceed 450Mt | SPEC BUY | Analyst | Matthew Keane
GR Engineering (GNG) | Abra conditional $74m EPC contract | BUY | Analyst | Ian Christie
Apollo Consolidated (AOP) | Maiden Resource of +1.0Mt | SPEC BUY | Analyst | James Wilson
Cooper Energy (COI) | COI signs a new gas contract with O-I | Not covered | No rating
Red 5 (RED) | Resource and Reserve Growth at Darlot | Not Covered | Not rated
Recent Research:
Perenti (PRN) | Tietto Minerals (TIE) | Gage Roads (GRB) | Orthocell (OCC) | Hazer (HZN)
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