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12/03/2019 – Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 12/03/2019 – Argonaut Morning Note
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    12/03/2019 – Argonaut Morning Note

    By admin | Morning Notes | 0 comment | 12 March, 2019 | 0

    Key News Overnight:

    U.S. stocks jumped the most in six weeks as chipmakers rallied on deal news and the latest retail-sales data boosted confidence that the economy isn’t headed for a downturn. The S&P 500 and Dow Jones were up 1.5% and 0.8% overnight respectively;

    Gold fell after the Trump Administration rebuffed reports that prospects for a trade deal with China were diminishing, undercutting the metal’s haven appeal. Bullion traded below the psychologically important level of $1,300 an ounce;

    Zinc in London rebounded from the worst weekly loss in more than three months as declining exchange inventories and a leading smelter’s financial woes stoked supply concerns;

    Newmont Mining Corp. managed to fend off a hostile bid by Barrick Gold Corp. by agreeing to a joint venture around the two companies’ projects in Nevada;

    Brent crude and WTI both gained 1.3% overnight, up to 66.58 (US$/bbl) and 56.79 (US$/bbl) respectively;

    In This Issue:

    Metals X Ltd (MLX) | March Q production impacted by Power outage | Not covered | No rating

    Exore Resources (ERX) | Antoinette drill results | Not covered | No rating

    Heron Resources (HRR) | First Underground ore from Woodlawn | Not covered | No rating

    China Macro: China Trade to See Significant Improvement in March | Analyst | Helen Lau

    Recent Research: 

    MLX, HRR, AKM, OEL, SGI, OZL

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    Argonaut Morning Note

     

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