Key News Overnight:
U.S. stocks rebounded from a slump that took them to a 12-week low, while Treasuries resumed a rally that pinned yields at 20-month lows amid concern that the trade spat with China could derail global growth.
The US Federal Reserve is prepared to ease policy if it sees mounting risks to its outlook, vice chairman Richard Clarida said while stressing that the economy is in a “very good place” with unemployment low and inflation muted.
Copper extended this month’s losses, trading near the lowest this year amid signs of global uncertainty for the industrial metal.
Oil headed for its worst monthly loss this year after a smaller-than-expected withdrawal from U.S. storage facilities fuelled worries about weakening demand.
Gold rose, boosted by wavering U.S. equities and data that showed economic headwinds are battering the world’s largest economy. The price has held above US$1,265/oz this year even as US dollar strength wrestles away some haven demand.
In This Issue:
Pantoro Ltd (PNR) | Acquiring a belt scale play | BUY | Analyst | James Wilson
Lynas Corporation (LYC) | Malaysia likely to allow Lynas to keep processing | Not covered | No rating
Aluminium & Alumina: Downward Pressure on Prices Due to Increase in Supply | Analyst | Helen Lau
Recent Research:
St Barbara Ltd (SBM), Otto Energy Ltd (OEL)
Please read Argonaut’s Important Disclaimers & disclosures
Log in to the client area below to download the full Morning Note PDF
