Key News Overnight:
US sharemarkets rose to record highs on Monday. Merger & acquisition activity boosted shares as did more signs of progress on a US-China trade agreement.
Pro-democracy forces in Hong Kong won a landslide victory in local elections over the weekend, taking control of 85% of the 452 district council seats up for grabs. Investors welcomed the result, pushing the Hang Seng Index 1.5% higher for the session on hopes that the city’s authorities may now take a less heavy-handed approach to protester demands.
Intellectual property has been one of the major sticking points in trade talks between the U.S. and China, so markets are taking a positive view of moves over the weekend by Beijing to address some of those issues. The country will raise penalties on violations of intellectual property rights and examine lowering the thresholds for criminal punishment for rule breakers.
Global oil prices rose 0.4% on Monday. While there was optimism about a US-China trade deal, investors waited for confirmation that a deal will be done, spot gold was trading near US$1,455 an ounce in late US trade, base metal prices fell by up to 1.8% on the London Metal Exchange on Monday with lead down the most and nickel and zinc.
In This Issue:
Evolution Mining (EVN) | Acquiring Red Lake Gold Complex | SELL (under review) | Analyst | James Wilson
Panoramic Resources (PAN) | Guidance update and Zeta debt facility | Not covered | No rating
Metals X (MLX) | Production suspended at Nifty | Not covered | No rating
Hot Chili Resources (HCH) | Drilling broadens Cortadera high grade zone | Not covered | No rating
Angel Seafood (AS1) | Saracen Mineral Holdings (SAR) | Argonaut’s 2019 Best Undeveloped Projects