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
Please read Argonaut’s Important Disclaimers & disclosures
Log in to the client area below to download the full Morning Note
