Morning Notes

03/12/2018 - Argonaut Morning Note

Saturday night’s meeting between U.S. President Donald Trump and Chinese President Xi Jinping was positive overall with no signs of escalation to the U.S. – China trade dispute and further progress made towards resolution, according to Bloomberg; U.S. financial markets will close Wednesday for a national day of mourning to honour former President George H.W. Bush;  Russia and Saudi Arabia have agreed on working together to stabilise the global oil market for 2019, however Moscow and Riyadh are yet to confirm any additional crude production cuts; China has agreed to start purchasing agricultural products from U.S. farmers immediately following a successful meeting between Xi Jinping and Donald Trump Saturday night, according to Bloomberg; Base Metal Prices were mainly up Friday on the London Metals Exchange, zinc gained 3.4% to 2,665 US$/t whilst copper fell only 0.3% to 6,227 US$/t; Australian shares are set to open higher this week in anticipation of local data inclusive of third quarter growth statistics on Wednesday. The ASX All Ords fell 1.5% to 5,749 on Friday.

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