Key News Overnight:
Global stocks climbed after President Donald Trump suspended plans for tariffs on Mexico. The Dow Jones and S & P 500 were up 0.3% and 0.5% respectively.
Oil closed down in New York for the first time in three days amid rising concerns about the likelihood of a global economic contraction and mounting supplies. U.S. crude has fallen about 18% from a peak in late April and volatility has jumped.
Lead climbed most among base metals after Nyrstar warned of a material drop in production at its Port Pirie plant in Australia following an unexpected outage at the end of last month.
Most industrial metals advanced as better-than-expected export data from China eased concern about the fallout from the trade war. Aluminium, Copper, Nickel and Zinc were all up.
Hedge funds boosted their long position in Gold by the most in almost 12 years. Gold futures surged to a 13-month high Friday on revived demand for the metal as a haven asset. The overnight spot price fell to US$1,327.4.
In This Issue:
Metro Mining (MMI) | Minor production downgrade | BUY | Analyst | Matthew Keane
Berkeley Energia (BKY) | Exploration licences approved| SELL | Analyst | Matthew Keane
Sheffield Resources (SFX) | Updated BFS | Not covered | No rating
West African Resources (WAF) | Grade control returns high grade results| BUY | Analyst | James Wilson
Dacian Gold (DCN)