Key News Overnight:
WHO has declared the coronavirus an international health emergency. The declaration allows it to help begin coordinating government responses. The decision comes as the number of confirmed cases climbed to 8,144 worldwide.
U.S. stocks rose, erasing early losses, as the WHO announcement fuelled optimism about response efforts. Treasuries also reversed course, with 10-year yields ending flat after falling as much as five basis points.
The first signs of the hit from the outbreak may come in China’s January PMI today. Consensus is for the factory index to have dropped to 50, balanced between growth and contraction, from 50.2 in December.
Oil spiralled towards its worst monthly performance since May on fears the virus is crippling demand. Most precious metals rose, though spot gold pared earlier gains. Copper fell for the 12th straight session in London.
Australia’s private sector credit may have increased 0.2% in December from the prior month, economists said, accelerating from 0.1% in November. Consensus is for the annual gain to hold at 2.3%.
In This Issue:
West African Resources (WAF) | Continued progress at Sanbrado | BUY | Analyst | James Wilson
Salt Lake Potash (SO4) | 31 December 2019 Quarterly Report | BUY | Analyst | Michael Eidne
Botanix (BOT) | 31 December 2019 Quarterly Report | SPEC BUY | Analyst | Michael Eidne
Otto Energy (OEL) | 31 December 2019 Quarterly Report | BUY | Analyst | Michael Eidne
Independence Group (IGO) | Gold Road Resources (GOR) | OZ Minerals (OZL) | Northern Star (NST) | Oil and Gas Sector Update | Saracen Mineral Holdings (SAR) | Western Areas (WSA)