Key News Overnight:
US stocks closed higher, sending the benchmark S&P 500 Index back above the 3,000 level, as investors assessed a batch of strong earnings and signs of progress in trade talks with China. Treasuries fell and the dollar rose.
US Trade Representative Robert Lighthizer and senior U.S. officials are set to travel to China next Monday for the first high-level, face-to-face trade negotiations between the world’s two biggest economies since talks broke down in May.
Copper had the biggest two-day slump in over two months after the International Monetary Fund cut its global growth forecast, clouding copper’s demand outlook. The IMF suggested policy “missteps” on trade and Brexit could derail a projected rebound.
Oil rallied on Tuesday as plans for a meeting between the US and China offered a hint of progress in the trade war dividing the world’s two biggest economies. Futures in New York rose 1% to close trading. Crude joined an advance for equity markets.
Iron ore’s rally showed signs of strain. Futures fell for the fifth time in six days in Singapore amid concerns that seaborne supplies will pick up this half, while port stockpiles in China start to bounce back.
In This Issue:
Evolution Mining (EVN) | June Q Results | SELL | Analyst | James Wilson
Sandfire Resources (SFR) | June Q Results| HOLD | Analyst | Matthew Keane
Regis Resources (RRL) | June Q Results | HOLD | Analyst | James Wilson
Pacific Energy (PEA) | Recommended bid from QIC | BUY | Analyst | Ian Christie
Recent Research:
OZ Minerals (OZL) | Trending Well | BUY | Analyst | Matthew Keane
Carnarvon Petroleum (CVN) | Quarterly Report June 2019| SPEC BUY | Analyst | Michael Eidne
Botanix (BOT) | Encouraging results lead to a valuation update| SPEC BUY | Analyst | Michael Eidne
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