Key News Overnight:
The rally in US bonds gained momentum as traders focused on a worrying global economic outlook. Stock markets fell and the USD rose. Rates on benchmark German bunds sank further below zero after ECB President Mario Draghi said an accommodative stance is still needed;
A gauge of base metals posted a third straight increase, paced by gains in aluminium, amid concerns over tight supplies. The Bloomberg Industrial Metals index advanced as inventories tracked by the LME extended declines in aluminium, copper & zinc;
The profits of Chinese industrial companies had the worst start to a year since the global financial crisis due to weaker factory inflation, slowing production and seasonal factors;
Saudi Aramco, the world’s biggest oil producer, will buy a majority stake in local chemical giant Sabic from the kingdom’s sovereign wealth fund for $69.1 billion, transferring a large amount of cash from one arm of the state to another to help finance Crown Prince Mohammed bin Salman’s economic agenda;
In This Issue:
Offshore drilling making a comeback? | Ian Christie
Independence Group (IGO) | Tropicana gets approval for underground | HOLD | Analyst | Matthew Keane
Macmahon (MAH) | Boston Shaker Underground Award | Not covered | No rating
Sundance Energy (SEA) | 4th Quarter Results | Not covered | No rating
Recent Research:
DCN, SBM, Commodity price, FX & Discount Rate Revision
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