Key News Overnight:
U.S. stocks ended their longest winning streak in two months as investors weighed the outlook for trade talks and interest rate policy. China’s beaten down stocks posted their best gains in weeks on news local governments will have more room to spend on infrastructure, offsetting tariff threats.
The S&P/ASX 200 index rose 1.5% to 6,546.30, its highest closing level since December 2007. Financial and health-care stocks contributed the most to the gauge’s move. Vocus Group Ltd. and AGL Energy Ltd were among the top performers.
Gold volatility rose to the highest level since March as investors take on a stronger appetite for risk. The metal was slightly higher for the day, after falling 1.2% Monday. The market now looks toward the upcoming G-20 summit in Japan.
Oil was little changed Tuesday as the market awaited U.S. crude inventory figures and continued to speculate on the outcome of a potential OPEC+ meeting in coming weeks.
China’s iron ore futures surged on Tuesday (Fines 62% is trading at US$103/t) on expectations that big miners will be unable to expand production to meet high demand, with steel output set to remain high in coming months.
In This Issue:
Prelude ships first LNG cargo | Analyst | Ian Christie
Stealth Global (SGI) | Strong retail uptake from UK Bisley launch | SPEC BUY | Analyst | Ian Christie
Emeco (EHL) | Operational update | Not covered | Ian Christie
Macmahon (MAH) | Comprehensive business update | Not covered | Ian Christie
Metro Mining (MMI), Dacian Gold (DCN)