Key News Overnight:
Market sentiment improved last night, as China’s coronavirus outbreak remains the primary topic of concern for traders. Markets remain transfixed on the expanding number of cases and fatalities of the virus.
That underlying change in the market supported a bounce in risk assets overnight. Though not close to reclaiming the losses sustained since the coronavirus outbreak, US and European stock indices rallied, along with the price of oil.
Local economic data cast a pall over trading yesterday. NAB Business Confidence survey was released, and revealed that business confidence fell to -2 last month, and business conditions dropped to +3.
Current economist consensus estimates suggest that headline price growth in the Australian economy expanded by 0.6% for the quarter, taking annual inflation to 1.8%.
In This Issue:
Northern Star (NST) | December Quarterly | BUY | Analyst | James Wilson
Evolution Mining (EVN) | December Quarterly | SELL (under review) | Analyst | James Wilson
OZ Minerals (OZL) | December Q results | BUY | Analyst | Matthew Keane
Sandfire Resources (SFR) | December Q results | BUY | Analyst | Matthew Keane
Saracen Mineral Holdings (SAR) | Western Areas (WSA) | Copper to lead the charge in 2020 | SCEE (SXE) | Matrix (MCE)