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22/02/2019 – Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 22/02/2019 – Argonaut Morning Note
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    22/02/2019 – Argonaut Morning Note

    By admin | Morning Notes | 0 comment | 22 February, 2019 | 0

    Key News Overnight:

    US stocks closed lower overnight as worries over global economic growth were heightened following softer than expected economic data from the US and Europe. The Dow Jones and the S&P 500 both fell 0.4% to 25,851 and 2,775 respectively;

    Global oil prices fell for the first time in more than a week following US data that showed growth in both crude stockpiles and production. Brent fell 0.1% to $US 67/bbl;

    UK Prime Minister Theresa May is expected to be forced to request a three-month delay to Brexit, following a fruitless meeting in Brussels between the Brexit secretary, the attorney general and the EU's chief negotiator;

    Copper’s rally was halted overnight as disappointing factory data from Europe and the US renewed concerns over the outlook for economic growth. Copper fell 0.5% to $US 6,395;

    Australian treasurer Josh Frydenberg played down concerns regarding a ban on Australian coal imports into Northern China, attributing the slowdown to testing of coal imports and denied that it was politically motivated

    In This Issue:

    Pacific Energy (PEA) | Interim results | BUY | Analyst | Ian Christie;

    Stanmore Coal (SMR) | China coal restrictions – Little impact |BUY | Analyst | Matthew Keane;

    Triangle Energy (TEG) | Approval Granted for Xanadu Seismic Survey| SPEC BUY | Analyst | Michael Eidne;

    Matrix (MCE) | Interim results | SPEC BUY | Analyst | Ian Christie

    Recent Research:

    China EVs, PEA, SMR, TEG, FMG, ASL, DCN, SBM, RRL, WSA, VMX, SAR, SFR, GOR, MYL+

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