Key News Overnight:
Major U.S. indexes rose to all-time highs in thin trading ahead of the 4 July holiday while the rally in global bonds extended as investors weighed the prospect of more dovish appointees to two of the world’s major central banks.
The S&P/ASX 200 index rose by 0.5% to close at 6,685.5, climbing the most in almost two weeks. Woolworths Group Ltd. contributed the most to the gain after the company announced plans to merge and then spin off its drinks and hospitality units.
Gold’s rally may be hitting a ceiling that dates back to 2013. While bullion held above US$1,400 an ounce on Wednesday, it failed to close above its long-term resistance on a quarterly basis in Q2 2019.
Oil rebounded as a drop in U.S. gasoline supplies helped crude prices shrug off their biggest decline in a month. Futures gained 1.9% in New York after the Energy Information Administration said gasoline inventories shrank by 1.58m barrels last week.
The demand outlook for battery materials is getting a boost as European car-makers speed ahead with plans to put more electric vehicles on the road, as breaching impending emissions regulations could cost them billions of dollars in fines.
In This Issue:
Independence Group (IGO) | Nova beats guidance | HOLD | Analyst | Matthew Keane
Carnarvon Petroleum (CVN) | Trading Halt | SPEC BUY | Analyst | Michael Eidne
Otto Energy (OEL) | Mustang Well Reaches Final Casing Point| BUY | Analyst | Michael Eidne
Red 5 (RED) | Wide zones of mineralisation at KOTH | Not covered | No rating
Decmil (DCG) | Looking to FY 20 | Ian Christie
Salt Lake Potash (SO4) | SO4 Releases the Lake Way Scoping Study with Strong Project Economics | Michael Eidne
Pacific Energy (PEA) | Guidance Upgrade | Ian Christie
June Quarter Preview and Commodity Outlook | Analysts | Matthew Keane, Helen Lau & James Wilson
Gold Sector Update & June Quarter | Analysts | James Wilson & Matthew Keane