Morning Notes

21/02/2019 -Argonaut Morning Note

 Key News Overnight:

US stocks rose overnight after the Federal Reserve’s meeting meetings failed to change views on the central bank’s policy stance. The Dow Jones and S&P 500 both edged 0.2% higher to 25,954 and 2,785 respectively;

The UK and EU are edging towards a new compromise on Brexit despite problems mounting for Prime Minister Theresa May, with lawmakers leaving her party and ministers planning to challenge her in a crunch vote next week;

Copper extended its gains overnight, reaching an eight-month high amid concerns of supply cuts from India, Peru and Africa. Copper rose 1.3% to $US 6,428/t;

Global oil prices edged higher overnight following comments from Saudi Energy Minister Khalid al-Falih who believed the oil market would be balanced by April and there would be no gap in supplies due to US sanctions on Iran & Venezuela. Brent rose 1.1% $US 67.19;

Aluminium climbed overnight following concerns over supply tightness, with global output falling 3.5% to 171,000 tons a day and Chinese production also down 5.4% a day from December. Aluminium rose 1.1% to $US 1,849/t

In This Issue:

Ausdrill (ASL) | Interim results | BUY | Analyst | Ian Christie;

Dacian Gold | Exploration results | BUY | Analyst | James Wilson;

Australian Mines (AUZ) | SK Innovation do not exercise option |SPEC BUY | Analyst | Matthew Keane;

Botanix (BOT) | BOT Appoints a new Non-Exec Chairman | SPEC BUY | Analyst | Michael Eidne;

Santos (STO) | STO Posts Record FY18 FY results | Not covered | No rating;

Alumina Ltd (AWC) | Full Year 2018 Results | Not covered | No rating;

Iluka Resources (ILU) | Full Year 2018 Results | Not covered | No rating;

Primero (PGX) | Business update | Not covered | No rating;

Recent Research:

Coking Coal Thematic, ASL, DCN, AUZ, BOT, STO, AWC, ILU, PGX, SBM, RRL, WSA, VMX, SAR, SFR, GOR, MYL 

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Argonaut Morning Note