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19/07/2019 – Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 19/07/2019 – Argonaut Morning Note
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    19/07/2019 – Argonaut Morning Note

    By Jonas Dorling | Morning Notes | 0 comment | 19 July, 2019 | 0

    Key News Overnight:

    US stocks rebounded and the US dollar fell after the Fed Reserve Bank of New York President highlighted the need for swift action should policymakers conclude the economy is in trouble. Consumer and financial stocks led gains in the S&P 500 Index

    President Donald Trump said the US “immediately destroyed” an Iranian drone that approached the USS Boxer near the Strait of Hormuz, the latest sign of escalating military tensions around the critical oil choke-point

    Global trade tensions made their way into the copper market. Chile had kept its forecast for the price of the commodity largely unchanged over the last few quarters, but cut its outlook on Thursday for 2019 to $2.81 a pound, the lowest in two years

    Gold reversed losses, touching a six-year high, as a gauge of US leading economic indicators unexpectedly fell in June. Signs of economic weakness strengthen the case for the Federal Reserve to ease U.S. monetary policy, boosting appeal of the metal

    The Iranian drone downing was not enough to lift oil prices, which slid to the lowest in almost a month amid pessimism about the global economy. Futures tumbled 2.6% on Thursday in New York, the fourth consecutive daily loss

    In This Issue:

    Gold Sector – equities pricing in an AUD$2,200/oz future | Analyst | James Wilson

    Pacific Energy (PEA) | 12.9MW power station contract | BUY |  Analyst | Ian Christie

    Botanix (BOT) | Botanix Appoints a New Executive Chairman | SPEC BUY | Analyst | Michael Eidne

    Recent Research:

    Austal (ASB) | Strong guidance | SELL | Analyst | Ian Christie

    Carnarvon Petroleum (CVN) | Quarterly Report June 2019| SPEC BUY | Analyst | Michael Eidne

    Botanix (BOT)| Encouraging results lead to a valuation update| SPEC BUY | Analyst | Michael Eidne

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