Key News Overnight:
U.S. stocks rallied for a third day with the benchmark S&P 500 pushing within striking distance of an all-time high set April 30, led by gains in the health care, real estate and utilities sectors.
The Federal Reserve indicated a readiness to lower interest rates for the first time in more than a decade, citing “uncertainties” in the outlook that have increased the case for a cut as officials seek to prolong the near-record U.S. economic expansion.
The largest iron ore producer, Vale SA, won court approval to revive operations at its Brucutu mine, sending shares higher and helping ease global supply concerns that sent prices of the steel making ingredient to a five-year high.
OPEC+ agreed to hold its next meeting to discuss oil-output cuts on the first two days of July, resolving a month long dispute that highlighted divisions within the group.
Spot gold climbed after the Fed signalled a readiness to cut U.S. interest rates. While policy makers left their key rate unchanged, they dropped a reference in their statement to being “patient” on borrowing costs. Spot gold was US$1,359.9.
In This Issue:
Gold Road Resources (GOR) | Update and Production guidance downgrade | BUY | Analyst | James Wilson
Botanix (BOT) | CBD kills superbugs without resistance | SPEC BUY | Analyst | Michael Eidne
West African Resources (WAF) |Grade control results from M5| BUY | Analyst | James Wilson
Dacian Gold (DCN) | High grade discovery north of Westralia | HOLD | Analyst | James Wilson
Saracen Mineral Holdings (SAR), Atrum Coal NL (ATU), Ausdrill (ASL)
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