Key News Overnight:
A rally in US Treasuries sent benchmark yields briefly below 2.4% for the first time since December 2017. Stocks were mixed and the USD retreated. The Dow Jones and S&P 500 gained and lost 0.1% respectively.;
Theresa May is braced to lose control over the Brexit process after conceding she doesn’t have the votes to get her unpopular divorce agreement sanctioned in Britain’s Parliament;
The end of the first quarter is close and commodities are set for a solid showing. Supply-side constraints are driving prices higher, with OPEC’s curbs fuelling crude’s rally and palladium’s deficit spurring record prices. Still, the demand side is on unstable ground as markets grapple with China’s softer growth, the trade war, and concerns about a U.S. recession;
Gold posted a fifth straight gain as the US dollar weakened and concern mounted over prospects for slowing global economic growth, brightening the metal’s appeal as a haven asset;
Copper advanced on bets that plunging shipments of scrap to China will boost use of the refined metal in the Asian nation, outweighing concerns over a slowing global economy;
In This Issue:
Austal (ASB) | EPF awards worth $369m | BUY | Analyst | Ian Christie
Peet (PPC) | Capital management initiatives | HOLD | Analyst | Ian Christie
NTM Gold (NTM) | Ed Eshuys joins the board as NED| Spec Buy | Analyst | James Wilson
Lynas Corporation (LYC) | Wesfarmers takeover offer | Not covered | No rating
Recent Research:
PNL, SBM, Commodity price, FX & Discount Rate Revision
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