Key News Overnight:
Australia’s Liberal party clung to power in a surprise victory, with voters backing its stewardship of a slowing economy for another three years and rejecting the opposition’s wealth distribution agenda.
US President Trump warned Iran not to threaten the U.S. or face devastating consequences as tensions mount between Washington and Tehran. “If Iran wants to fight, that will be the official end of Iran,” Trump said on Sunday in a tweet. “Never threaten the United States again!”.
Emerging-market stocks slumped to the lowest level since January and a gauge of currencies erased its year- to-date advance as trade tensions escalated, leading investors to reassess the odds of a deal between the world’s two largest economies.
Saudi Arabia and other key producers in OPEC signalled their intention to keep oil supplies constrained for the rest of the year, while pledging to prevent any genuine shortages.
President Donald Trump’s decision to lift the 25% tariffs on steel from Canada and Mexico sent shares of Stelco Holdings Inc. to its biggest rally in 18 months.
In This Issue:
Lynas Corporation (LYC) | MOU for REO separation in the US | Not covered | No rating
Red 5 Limited (RED) | King of the Hills resource upgrade | Not covered | No rating
SCEE (SXE) | Contract awards | BUY | Analyst | Ian Christie
Botanix (BOT) | New President Appointed at Botanix | SPEC BUY | Analyst | Michael Eidne