Key News Overnight:
U.S. stocks rallied to a four-week high as earnings season kicked off, with Brexit optimism overshadowing China trade concerns.
European stocks jumped, with the Stoxx 600 hitting a 16-month high on Brexit optimism. Regional bonds mostly fell, with 10-year bund yields gaining four basis points.
U.K. and EU negotiators are closing in on a draft agreement amid optimism that a breakthrough is imminent. The Northern Irish Democratic Unionist Party’s leader met with the PM and said “gaps remain and further work is required.”
The IMF cut its 2019 global growth forecast to the weakest in a decade, blaming trade tensions for undermining expansion. The world economy will grow 3% in 2019, down 0.2% from projections, and 2020’s estimate was lowered to 3.4% from 3.5%.
Crude fell for a second day amid a weakening global growth outlook and abundant crude supplies in the U.S. Palladium climbed, while other precious metals dropped. Most base metals rose on the LME, except for copper.
In This Issue:
OZ Minerals (OZL) | September Q Results | BUY | Analyst | Matthew Keane
Hot Chili Ltd (HCH) | Long Cu intercept at Cortadera | Not covered | No rating
China Macro: Weaker than expected Import and Export Growth in September | Analyst | Helen Lau
Orthocell (OCC) | Swick (SWK) | GR Engineering (GNG) | Metro Mining (MMI) | Sandfire Resources (SFR)