Key News Overnight:
China will step up policy adjustments to help cushion the blow to the economy from a coronavirus outbreak that authorities are still trying to control, President Xi Jinping was quoted as saying on Sunday.
Authorities in Iran on Saturday announced the detection of at least 10 new cases of coronavirus and two more deaths, deepening a sense of public unease over the handling of the spread of the disease.
Global markets went into risk-off mode to end the week. The VIX leapt above the 18 mark, at stages, during US trade, to trade at levels generally unconducive to risk taking.
In price action, the S&P500 slid by over 1%, and broad-European stock gauges dropped by over 0.5%. The yield on US 10 Year Treasury note fell to its lowest levels since September, at 1.4%, while the yield on the 30 Year note hit record lows.
The Australian Dollar found itself pilloried last week. It dropped below the 66-cent mark on Friday, for the first time since the depths of the US Financial Crisis. The currency is being battered from all corners currently.
In This Issue:
Macmahon (MAH) | Interim results, guidance upgrade | BUY | Analyst | Ian Christie
Bellevue Gold (BGL) | Bellevue Grows to 2.2Moz | SPEC BUY | Analyst | Matthew Keane
Apollo Consolidated (AOP) | $10m placement to accelerate drilling | Restricted | Analyst | James Wilson
Cooper Energy (COE) | FY20 1H Results | Not covered | No rating
Ramelius Resources (RMS) | 1H Result | Not covered | No rating
MACA (MLD) | Interim results | Not covered | No rating
Fleetwood (FWD) | Interim results | Not covered | No rating
MMA Offshore (MRM) | Interim results | Not covered | No rating
Exore Resources (ERX) | Shallow step out drilling at Antoinette | SPEC BUY | Analyst | James Wilson
Automobile/EV: Mulling on Policy Support to Boost Consumption | Analyst | Helen Lau
Austal (ASB) | Maintains momentum | HOLD | Analyst | Ian Christie
Bellevue Gold (BGL) | Expansion and increased confidence| SPEC BUY| Analyst | Matthew Keane
Please read Argonaut’s Important Disclaimers & disclosures
Log in to the client area below to download the full Morning Note