Key News Overnight:
Hong Kong’s pro-democracy candidates were set to win a sweeping majority in local elections as a record number of people cast ballots. The candidates have won 201 of the 452 seats so far, seven times more than those won by pro-establishment contenders, the SCMP reported.
Michael Bloomberg is running for U.S president. The former New York mayor announced his candidacy for the Democratic nomination less than three months before the Iowa caucuses.
ECB chief economist Philip Lane told Italy’s Sky TG24 that central bank policies are “in good shape” for the baseline scenario of improving conditions over the next one or two years, but further rate cuts can’t be ruled out.
Oil fell Friday but still ended the week higher after Trump said he was “very close” to a trade pact with China. Spot gold dropped, while palladium climbed. Nickel led most base metals higher on the LME.
OPEC will need to deepen its production cuts by about 700,000 barrels a day in order to balance the oil market next year amid strong supply growth from outside the producer group, Morgan Stanley said.
In This Issue:
Saracen Minerals (SAR) | Completion date for KCGM acquisition set | BUY | Analyst | Matthew Keane
CIMIC (CIM) | Preferred for Perth’s Metronet | Not covered | No rating
NRW Holdings (NWH) | Comment re BGC | Not covered | No rating
Galaxy Resources (GXY) | Sal de Vida to produce a lower payable product | Not covered | No rating
Saracen Mineral Holdings (SAR) | Salt Lake Potash (SO4) | Argonaut’s 2019 Best Undeveloped Projects