Key News Overnight:
Donald Trump said that the U.S. and China were scheduled to have a conversation about trade on Thursday, without giving details. Beijing had earlier indicated that it wouldn’t immediately retaliate against the latest tariff hike, saying it was more important to discuss removing the extra duties.
U.S. stocks rallied on China’s apparent peace offering, with industrial and tech companies leading a 1.3% advance by the S&P 500. The US dollar gained against all of its G-10 peers bar the CAD.
Bond yields were only slightly higher overnight, and in the bigger picture, remain historically low. Gold prices, as an extension of this, remain angled strongly to the upside closing at US$1,527/oz. Growth sensitive commodities have lifted slightly.
Crude oil prices rose on Thursday and look set to notch a weekly win as the U.S.-China trade war seemingly took an unexpected turn for the better, with Beijing suggesting it was ready to cooperate on trade talks.
Silver has surged 13% this month and touched a two-year high on Wednesday. The metal is benefiting as concerns over the global economic outlook bolster demand for haven assets, which has sent gold to the highest since 2013 (in USD).
In This Issue:
Austal (ASB) | First take FY19 results | SELL (under review) | Analyst | Ian Christie
KIN Mining (KIN) | Cardinia Pre-Feasibility Study | Not covered | No rating
Nickel: Price Surge has Reflected Possible Early Export Ban of Indonesia Ore | Analyst | Helen Lau
Triangle Energy (TEG) | Decmil (DCG) | SCEE (SXE) | Valmec (VMX) | Sandfire Resources (SFR) | SRG Global (SRG) | Austin Engineering (ANG) | GR Engineering (GNG) | Matrix (MCE) | Pacific Energy (PEA)