Key News Overnight:
Most U.S. stocks fell as trade concerns countered strength in the tech sector. Treasuries declined with gold after investors eased back bets on a deep cut to interest rates next month. The S&P 500 dropped for a fourth-straight day.
Twenty Democratic presidential contenders will meet this week for the first debate of the 2020 campaign, a high-stakes event for the biggest and most diverse field ever of would-be party nominees.
Oil rose to a five-week high as a huge drop in U.S. crude inventories bolstered the outlook for demand. Futures in New York climbed 2.7% Wednesday after the U.S. Energy Information Administration said domestic stockpiles fell by 12.8 million barrels.
Nickel closed at a two-month high as inventories on the London Metal Exchange fell the most in almost a year, while copper slid as optimism faded surrounding a mooted U.S. interest rate cut.
Europe’s steel industry faces a “tsunami of problems” if a relaxation of import restrictions goes ahead as planned next week, according to steelmakers including top producer ArcelorMittal.
In This Issue:
Pacific Energy (PEA) | Guidance upgrade | BUY | Analyst | Ian Christie
SRG Global (SRG) | Façade contract | BUY | Analyst | Ian Christie
Calima Energy (CE1) | Trading Halt | Not covered | No rating
Salt Lake Potash (SO4) | SO4 Releases the Lake Way Scoping Study with Strong Project Economics | Michael Eidne
Ausdrill (ASL) | Big year | BUY | Analyst | 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
Botanix (BOT) | CBD studies show anti-inflammatory, immunomodulation & anti-bacterial effects| SPEC BUY | Analyst | Michael Eidne