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30/05/2019 – Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 30/05/2019 – Argonaut Morning Note
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    30/05/2019 – Argonaut Morning Note

    By Jonas Dorling | Morning Notes | 0 comment | 30 May, 2019 | 0

    Key News Overnight:

    U.S. stocks fell to a 12-week low, while Treasuries advanced amid persistent concern the bond-market recession warning is growing louder as the trade war shows no signs of easing.

    Beijing is gearing up to use its dominance of rare earths to hit back at Washington. A flurry of Chinese media reports on Wednesday, including an editorial in the flagship newspaper of the ruling Communist Party, raised the prospect of the government cutting exports of the commodities that are critical in defence, energy, electronics and automobile sectors.

    Oil pared losses after hitting the lowest level since March as a key U.S. pipeline prepared to restart and an industry report was said to show a drop in American crude supplies.

    ArcelorMittal, the world’s largest steelmaker, fell the most in two years after announcing that it’s further cutting steel production across its European plants to cope with weak demand and rising imports.

    Global economic worries that are helping support gold are devastating other metals, especially those with industrial uses such as silver and copper. An ounce of gold bought more than 89 ounces of silver on Tuesday, the most since 1993.

    In This Issue:

    Rare Earths on a run | Matthew Keane

    Gold Road (GOR) | AGM Presentation | BUY | Analyst | James Wilson

    SRG Global (SRG) | Contracting wins continue | BUY | Analyst | Ian Christie

    Independence Group / Prodigy Gold (IGO/PRX) | High Grade Cobalt at Grimlock | Analyst | Matthew Keane

    Recent Research:

    St Barbara Ltd (SBM), Otto Energy Ltd (OEL)

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