Key News Overnight:
U.S. stocks meandered lower and Treasuries climbed as investors assessed trade news and waited for more direction from the Fed. The S&P 500 halted a three-day rally and 10-year yields dropped more than five basis points.
Italian Prime Minister Giuseppe Conte said he’ll resign, blaming the country’s current political crisis on “irresponsible” Deputy Premier Matteo Salvini. President Sergio Mattarella will begin consultations on a possible alternative government Wednesday.
US President Trump confirmed he’s considering a payroll tax cut as a way to boost the economy. He also said he could cut taxes by indexing capital gains to inflation without congressional approval, something that would probably face legal challenges.
Oil fluctuated before settling 0.2% higher in New York. Gold advanced for the first time in three days, and silver also climbed. Industrial metals mostly fell on the LME, led by zinc. Corn and wheat dropped in Chicago.
Global aluminium production fell 0.8% month on month to 174,400 tons a day in July, according to the International Aluminium Institute. That’s as output in China, Western Europe and South America dropped. Production from the Gulf rose.
In This Issue:
Kazatomprom extends uranium production cuts
St Barbara Limited (SBM) | FY19 Result | BUY | Analyst | James Wilson
Paringa Resources (PNL) | Approval for extended cut plan| BUY | Analyst | Matthew Keane
Seven Group Holdings (SVW) | FY19 Results | 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