26/02/2019 - Argonaut Morning Note

26/02/2019 – Argonaut Morning Note

By admin | Morning Notes | 0 comment | 26 February, 2019 | 0

Key News Overnight:

U.S. equity markets closed at the highest levels in almost four months overnight after President Donald Trump postponed the date for boosting tariffs on Chinese imports. The Dow Jones gained 0.2% to 26,092 and the S&P500 increased 0.1% to 2,796;

U.K. opposition Labour Party Leader Jeremy Corbyn has bowed to pressure from his members of parliament agreeing to support a new Brexit referendum;

Oil tumbled the most in four weeks after U.S. President Donald Trump tweeted that prices are too high and called on OPEC to relax output cuts. Brent crude oil declined 3.5% overnight to US$ 64.76/bbl;

Barrick Gold Corp. is going hostile in its bid to acquire Newmont Mining Corp. and create the world’s largest gold producer, offering $17.8b for the company;

Palladium continues to rocket higher extending this year’s gains to 22% amid tight supplies and positive indications from U.S.-China trade talks

In This Issue:

Ausdrill (ASL) | Contract extension | BUY | Analyst | Ian Christie;

Swick (SWK) | Interim results | BUY | Analyst | Ian Christie;

SRG Global (SRG) | Interim results | BUY | Analyst | Ian Christie;

VRX Silica (VRX) | Markets opening for silica products | HOLD | Not covered | No rating

Recent Research:

China Steel, ASL, PPC, SRG, HZR, VRX, GNG, PEA, MCE FMG, ASL, DCN, SMR, SBM, RRL, WSA, VMX, SAR, SFR, GOR, MYL

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Argonaut Morning Note