Key News Overnight:
Risk-appetite surged on Friday, after the US and China announced a “partial” trade-deal, which includes a delay of the next round of tariffs, in exchange for a series of concessions from China relating to its economic policy.
Positive Brexit developments also piqued risk appetite on Friday. At least on the surface, it appears that the UK and EU are inching closer to striking a divorce deal. This comes after a meeting between UK Prime Minister Boris Johnson, and his Irish counterpart, Leo Varadkar, stated “we can see a pathway to a deal”.
Tensions in the middle east have inflamed again, contributing to a spike in oil prices on Friday, on reports an Iranian oil tanker had been attacked by Saudi forces. The move sparks a small escalation in the stand-off between Iran, Saudi Arabia, and their respective allies.
Santos has entered into a US$1.5B sale-and-purchase agreement to buy the bulk of ConocoPhillips’ portfolio which includes the Darwin LNG plant and the Barossa gas venture off the coast.
Gold prices dropped last week, producing its second largest weekly loss of the year, on easing concerns over U.S.-China trade relations and advancements in a Britain’s exit from the EU.
In This Issue:
Paladin Energy (PDN) | PFS for Langer Heinrich Restart | BUY | Analyst | Matthew Keane
Apollo Consolidated (AOP) | Nickel assets JV | SPEC BUY | Analyst | James Wilson
Santos (STO) | STO Buys ConocoPhillips Northern Australia’s Assets | Not covered | No rating
Saturn Metals (STN) |Apollo Hill Resource upgrade | Not covered | No rating
Orthocell (OCC) | Swick (SWK) | GR Engineering (GNG) | Metro Mining (MMI) | Sandfire Resources (SFR)