Key News Overnight:
US stocks shook off their latest virus-induced loss and returned to record heights Wednesday. Apple rose as technology stocks once again helped lead the market higher. The iPhone maker recouped most of its loss from the prior day.
China is widely expected to cut its benchmark lending rate on Thursday, which would add to a number of measures aimed at limiting the impact from business shutdowns and travel curbs on the world’s second-largest economy.
Oil prices rose 2.5%on Wednesday as demand worries eased with a slowing of new coronavirus cases in China and supply curtailed by a US move to cut more Venezuelan crude from the market.
The coronavirus epidemic has already disrupted economic growth in China and a further spread to other countries could derail a “highly fragile” projected recovery in the global economy in 2020.
Canada’s annual inflation rate rose to 2.4% in January on higher gasoline prices, Statistics Canada said on Wednesday, with some analysts suggesting the data may pose a challenge for the Bank of Canada should it wish to ease rates.
In This Issue:
Apollo Consolidated (AOP) | Equity Raising | Restricted | Analyst | James Wilson
Perenti (PRN) | Response to media speculation | BUY | Analyst | Ian Christie
GR Engineering (GNG) | UPS contract extension | BUY | Analyst | Ian Christie
Dacian Gold (DCN) | Speculation of a significant equity raising | HOLD | Analyst | James Wilson
Otto Energy (OEL) | South Marsh Island F5 Well to be Drilled| BUY | Analyst | Michael Ednie
Austal (ASB) | Interim results | HOLD | Analyst | Ian Christie
Ikuka Resources (ILU) | Intention to demerge MAC royalty | Not Covered, No Rating
NRW Holdings (NWH) | Interim results | Not covered | No rating
Tietto Minerals (TIE) | More shallow high grade gold at Abujar‐Gludehi | SPEC BUY | Analyst | Matthew Keane
Liontown Resources (LTR) | Drilling at Kathleen Valley identifies a new high-grade zone | Not covered | No rating
Recent Research:
Bellevue Gold (BGL) | Expansion and increased confidence| SPEC BUY| Analyst | Matthew Keane | Contract Mining | Better prospects | Analyst | Ian Christie
Please read Argonaut’s Important Disclaimers & disclosures
Log in to the client area below to download the full Morning Note
