Key News Overnight:
U.K. election exit polls show Boris Johnson’s Conservative Party winning 368 seats out of 650, with Labour taking 191. The predicted Tory majority would be the biggest since Margaret Thatcher’s 144-seat advantage in 1987. The Liberal Democrats are expected to win 13 spots, with the Brexit Party on zero. The pound surged to the highest since June 2018 on the news.
The US signed off on the phase-one agreement, potentially cancelling a new round of tariffs that were set to take effect on Sunday. U.S. negotiators have offered to cut existing tariff rates by up to 50% on $360 billion of Chinese imports in exchange for Beijing’s commitment to purchase large quantities of agricultural products and enhance protection of IP rights.
The House Judiciary Committee moved ahead with articles of impeachment against Trump, despite objections and amendments from the panel’s Republican members. The Democratic-lead panel was poised to approve the measures and send them to the House floor for a vote expected next week.
Oil rebounded from the previous day’s decline on U.S.-China trade deal optimism. Spot palladium touched a record, while gold futures fell from a one-month high. Nickel climbed for a third day in London, and aluminium and zinc also rose.
In This Issue:
Perenti (PRN) | Trading halt re GMC contract | BUY | Analyst | Ian Christie
China’s EV sales and battery sales: sequential monthly recovery | Analyst | Helen Lau
Decmil (DCG) | SRG Global (SRG) | PT Merdeka Copper Gold Tbk (MDKA.IDX) | Genesis Minerals (GMD) | Red 5 Ltd (RED)