Key News Overnight:
Donald Trump upped his criticism of Germany on Wednesday as he threatened sanctions over Angela Merkel’s continued support for a gas pipeline from Russia and warned that he could shift troops away from the NATO ally over its defence spending.
A strong rally to start 2019 has Australia’s stocks looking expensive. The nation’s benchmark S&P/ASX 200 Index has advanced 16% this year, causing price-earnings ratio estimates to swell to 17.1, a valuation level it hasn’t seen since September 2016.
Oil slumped to its lowest in almost five months as American crude stockpiles climbed and the U.S.-China trade war continued to put pressure on demand.
Gold surged as trade-war risks remain and financial markets look ahead to next week’s Federal Reserve meeting, when policy makers may do more to pave the way for a U.S. interest rate cut. Bullion posted the 10th gain in 11 sessions.
Copper retreated as pessimism around global trade tensions and concerns about slowing growth topped potential supply disruptions and prospects for a U.S. rate cut.
In This Issue:
Otto Energy (OEL) | Appraisal well confirmed as commercial Discovery | BUY | Analyst | Michael Eidne
Northern Star Resources (NST) | Directors appointed | HOLD | Analyst | James Wilson
Salt Lake Potash (SO4) | SO4 releases the Lake Way Scoping Study | SPEC BUY | Analyst | Michael Eidne
Ausdrill (ASL), Metro Mining (MMI), Dacian Gold (DCN)
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