Key News Overnight:
U.S. stocks and commodities tumbled after China retaliated with higher tariffs on a range of American goods. Treasuries jumped with the Japanese yen on demand for haven assets.
The S&P 500 dropped the most in four months, the Dow Jones slumped more than 600 points and the S & P 500 saw the biggest decline of the year after China targeted some of the nation’s biggest exporters.
Gold is proving to be a major beneficiary of the U.S.-China trade war. The metal posted its biggest gain since February after China said it would raise tariffs on some U.S. goods.
Base metal prices were lower by up to 2.1% on Monday with lead and copper down the most. Aluminium was the exception, with its value increasing marginally.
Crude tumbled for a third day in a row as the escalating trade tiff between the world’s two biggest economies dimmed the outlook for demand. Futures in New York fell 1%, joining a rout for equity markets.
In This Issue:
Ramelius Resources (RMS) | Greenfinch clearing permit appeal decision | Not covered | No rating
Merdeka Copper & Gold Tbk (MDKA.IDX) | March Q report | BUY | Analyst | James Wilson
MMA Offshore (MRM) | A focus on specialised services | Not covered | No rating