Key News Overnight:
President Donald Trump downplayed Iran’s attack on a Navy drone in the Persian Gulf that escalated regional tensions and fuelled a surge in oil prices, suggesting a “loose and stupid” individual may have been responsible for the strike.
U.S. stocks rose to a record high, while sovereign bonds extended gains and the US dollar slumped after central banks around the world continued a shift toward easier monetary policy.
Gold’s rally to the highest level since 2013 has put the precious metal back on investors’ radar, thanks to comments from the Federal Reserve on Wednesday that signalled its readiness to cut interest rates.
Oil jumped the most this year as attacks by Iran and its proxies in the sky and on sea and land prompted President Trump to warn the Islamic Republic it made “a very big mistake.” Futures climbed 5.4% in New York.
The world’s top copper producer, Codelco, is facing the longest strike in years at one of its main mines in Chile. Copper topped $6,000 a metric ton, touching a one-month high and ended the session at US$5,961/t.
In This Issue:
WA’s 2018 net migration back in black | Analyst | Ian Christie
Otto Energy (OEL) | Lightning Field Commissioning Completed | BUY | Analyst | Michael Eidne
Thermal coal: Price Weakness on Concern of Oversupply | Analyst | Helen Lau
Botanix Pharmaceuticals (BOT), Saracen Mineral Holdings (SAR), Atrum Coal NL (ATU)
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