Key News Overnight:
U.S stocks fell the most in more than three weeks as Federal Reserve Chairman Jerome Powell warned the downside risks to the economy have increased and Trump administration officials signalled a trade deal at the Group of 20 meeting is unlikely.
The U.S. is willing to suspend the next round of tariffs on an additional $300 billion of Chinese imports while Beijing and Washington prepare to resume trade negotiations, people familiar with the plans said.
The S&P/ASX 200 index fell to 6,735 points, as most Asian stocks declined amid geopolitical tensions. Sandfire Resources NL was the worst performer after the company agreed to buy MOD Resources Ltd.
Gold’s rally shows no signs of slowing, with prices climbing to a six-year high as cash keeps pouring into exchange-traded funds. New U.S. sanctions on Iran added to uncertainty in global markets, bolstering gold’s appeal as a haven.
Oil futures increased overnight with an American Petroleum Institute report showing U.S. inventories dropping by 7.55 million barrels while Saudi Aramco CEO said it has the experience and infrastructure it needs to keep crude flowing should supply through the Strait of Hormuz be disrupted.
In This Issue:
Work awarded to listed contractors | Analyst | Ian Christie
Lepidico (LPD) | Lepidico Pilot Plant leach feed starts | Not covered | No rating
GR Engineering (GNG) | Visibility vs Capability | BUY | Analyst | Ian Christie
Salt Lake Potash (SO4) | SO4 Releases the Lake Way Scoping Study with Strong Project Economics | Michael Eidne
Ausdrill (ASL) | Big year | BUY | Analyst | Ian Christie
June Quarter Preview and Commodity Outlook | Analysts | Matthew Keane, Helen Lau & James Wilson
Gold Sector Update & June Quarter | Analysts | James Wilson & Matthew Keane
Botanix (BOT) | CBD studies show anti-inflammatory, immunomodulation & anti-bacterial effects| SPEC BUY | Analyst | Michael Eidne