Key News Overnight:
A rally in equities sputtered out after a report that U.S. and Chinese negotiators remain at odds on aspects of their current trade talks;
Australia’s three-year bond yield dropped below the central bank’s policy rate for the first time since September 2016, underscoring how growth jitters are fuelling bets for interest-rate cuts globally;
China’s economy is poised to stabilize in 2Q as stimulus starts to gain traction. A pickup in investment and retail sales suggests domestic demand is steadying. Weaker global demand continues to drag on industrial output;
Copper futures gained for a third straight session amid persistent supply concerns and a jump in options trading in the metal;
Palladium topped $1,600USD an ounce for the first time, and there’s little sign of the rally slowing as global supply tightens. The price of the metal – mainly used in auto catalysts in gasoline vehicles – has almost doubled from a recent low in August;
In This Issue:
Xanadu Mines (XAM) | Positive oxide gold recoveries | SPEC BUY | Analyst | Matthew Keane
Paringa Resources (PNL) | US$56m debt facility to fund expansion | BUY | Analyst | Matthew Keane
Poseidon Nickel (POS) | Black Swan refurbishment commences | Not covered | No rating
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