Key News Overnight:
The ASX All Ords rose 0.4% yesterday to 6,234 amid early signs of China’s improving economic growth;
US equity markets drifted lower overnight after the top US trade negotiator pulled back expectations for a sweeping deal with China and investors fixated on a Congressional hearing regarding President Trump’s political controversies. The Dow Jones fell 0.3% to 25,985 and the S&P 500 decreased 0.1% to 2,792;
Oil prices jumped overnight after a plunge in U.S. stockpiles showed OPEC and allied producers tightening global supplies despite President Trump’s protests. Brent gained 1.7% to US$ 66.32/bbl and WTI increased 2.6% to US$ 56.95/bbl;
Gold fell overnight, erasing this month’s gains as a firmer dollar eroded investor interest for the safe haven asset. The US gold price fell 0.7% to US$ 1,319.40/oz;
China's PMIs may be ready to bounce, based on a 9% YTD increase for copper. The metal has closely tracked China's manufacturing gauge for most of the past five years, with the exception of 4Q 2018. Copper gained 0.4% overnight on the LME to 6,546 US$/t
In This Issue:
Atrum Coal l (ATU) | See through value from Riversdale bid | SPEC BUY | Analyst | Matthew Keane
Austal (ASB) | Interim results | BUY | Analyst | Ian Christie;
Austin Engineering (ANG) | Interim results | BUY | Analyst | Ian Christie;
Decmil (DCG) | Interim results | BUY | Analyst | Ian Christie;
Doray Minerals (DRM) | 1HFY19 Result | BUY | Analyst | James Wilson;
Recent Research:
ASB, ANG, DCG, DRM, MMI, OCC, MGV, RIO, ATU,SXE, PCC, XAM, OZL, PDN, SRG, GNG, PEA, MCE, FMG, ASL
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