Key News Overnight:
China is formulating a plan to replace Hong Kong’s Carrie Lam with an “interim” chief executive by March. Chinese officials will wait for the situation to stabilise before acting, as they don’t want to be seen as giving in to violence, the FT reported. A successor would serve out the balance of Lam’s term, which ends in 2022.
Brexit looks set to be delayed again. Boris Johnson won the first ever majority in the House of Commons for a withdrawal agreement, but lawmakers voted down his accelerated timetable to push through the legislation by Oct. 31. European Council head Donald Tusk said he’d be recommending the EU accepts the U.K.’s request for an extension.
U.S. stocks fell as uncertainty over Brexit sank the pound following the vote to fast-track legislation and traders parsed a flurry of corporate earnings. The S&P 500 erased gains as a slide in tech shares outweighed a rally in energy companies.
Gold rose as the U.K. vote signalled more Brexit turmoil. Oil futures halted a two-day slump. Nickel rose, but copper and aluminium fell.
In This Issue:
Austal (ASB) | Trading halt | HOLD | Analyst | Ian Christie
Botanix (BOT) | BTX1503 Acne results released | SPEC BUY | Analyst | Michael Eidne
Red 5 Limited (RED) | September Quarterly Report | Not covered | No rating
NTM Gold (NTM) | Drilling extends the Hub| SPEC BUY | Analyst | James Wilson
Recent Research:
Botanix Pharmaceuticals (BOT) | St Barbara Ltd (SBM)
Please read Argonaut’s Important Disclaimers & disclosures
Log in to the client area below to download the full Morning Note
