Key News Overnight:
Goldman Sachs Group said on Sunday that fears of the U.S.-China trade war leading to a recession are increasing and that Goldman no longer expects a trade deal between the world’s two largest economies before the 2020 U.S. presidential election.
Kim Jong Un is open to more talks with Trump once U.S.-South Korean military exercises end. Word came hours after Seoul reported the fifth ballistic missile test from its northern neighbour in about two weeks.
Police in Hong Kong clashed with protesters after some hurled bricks and petrol bombs and refused to disperse. Hundreds of demonstrators gathered at the airport’s arrivals hall for a third day of sit-ins. It’s now the 10th weekend of anti-China protests.
Oil prices rose more than $1/bbl on Friday, supported by a drop in European inventories and OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008.
Rio Tinto on Friday said it had moved a step closer to the development of a new Resolution copper project in Arizona, one of the few new major known deposits of the metal, 55% owned 1.8b tonne copper deposit.
In This Issue:
Metals and Mining Research: Diggers and Dealers Wrap | Analysts | Matthew Keane & James Wilson
Dacian Gold (DCN) | Mt Morgans July operational update | HOLD | Analyst | James Wilson
Strike Energy (STX) | Wagina Gas Discovery Update | Not covered | No rating
Northern Minerals (NTU) | Offtake Agreement with Thyssenkrupp | Not covered | No rating
Saracen Mineral Holdings (SAR) | Reserve update underpins 7-year life | SELL | Analyst | Matthew Keane