Key News Overnight:
US equities rallied late to close at a record high, while Treasuries retreated after the latest inflation reading came in higher than anticipated. The US dollar dropped for a second day while the S&P 500 gained for a straight third day.
Gold slipped as the US dollar pared losses and yields on US Treasuries surged. Yields on 10-year US Treasuries reached a one-month high after a key measure of consumer prices rose more than forecast in June.
BHP Group is moving ahead with plans to exit thermal coal, according to people familiar with the matter, the latest move by the world’s biggest miners to retreat from the fuel. BHP is looking at options to divest the business that includes multiple assets.
Copper futures fell as simmering worries over the US-China trade war and the outlook for global economic growth weighed on outlook for demand. The IMF cited danger that the euro area is close to a prolonged period of anaemic growth and inflation.
Oil’s rally stalled as traders weighed the threat Tropical Storm Barry poses to refineries on the US Gulf Coast against prospects of an ongoing trade war and OPEC’s concerns over global demand. Futures slipped for the first time in six sessions on Thursday.
In This Issue:
Dacian Gold (DCN) | Mt Morgans Life of Mine Plan update | HOLD | Analyst | James Wilson
Musgrave Minerals (MGV) | Lena high grade resource upside | Not covered | No rating
Carnarvon Petroleum (CVN) | Quarterly Report June 2019| SPEC BUY | Analyst | Michael Eidne
Industrials – Factoring risks into valuations | Analyst | Ian Christie
June Quarter Preview and Commodity Outlook | Analysts | Matthew Keane, Helen Lau & James Wilson
Gold Sector Update & June Quarter | Analysts | James Wilson & Matthew Keane