Key News Overnight:
U.S. stocks rallied on Huawei-fuelled optimism and speculation central banks are poised to shore up their economies. Treasuries declined despite President Trump’s call for more Fed easing, with 10-year yields up 5 basis points.
U.S. President Trump called on the Fed to cut rates by “at least 100 basis points” in his latest salvo against the central bank. He also said the U.S. economy is “very strong, despite the horrendous lack of vision” by Jerome Powell, and claimed the dollar “is so strong” that it’s hurting other parts of the world.
Boris Johnson made his first public attempt to renegotiate the Brexit deal by telling the EU he won’t accept any agreement containing the Irish backstop. He said he’d instead be ready to make a “legally binding commitment”.
Oil rose amid the latest sign of a trade war truce, and as a drone attack in Saudi Arabia highlighted simmering Mideast tension. Gold and silver declined, while nickel extended losses from its highest level since 2014. Corn, wheat and soybeans also dropped in Chicago. Copper rebounded on hopes for more stimulus in China.
In This Issue:
Western Areas (WSA) | FY19 Financial Results| BUY | Analyst | Matthew Keane
Botanix (BOT) | BOT Releases FY Results | SPEC BUY | Analyst | Michael Eidne
Monadelphous (MND) | Albemarle contract | Not covered | No rating
Tietto Minerals (TIE) | High grade results from Abujar Project | Not covered | No rating
Gage Roads (GRB) | FY19 preliminary results | BUY | Analyst | Ian Christie
Pt Merdeka Copper & Gold Tbk (MDKA.IDX) | June Quarter Report | BUY | Analyst | James Wilson