Morning Notes

11/03/2019 - Argonaut Morning Note

Key News Overnight:

A $10 trillion global stock rally is showing signs of fragility. Both the American and European benchmarks posted their biggest weekly losses since the darkest days of December’s sell- off, with the S&P 500 dropping 2.2 percent for the week;

The world economy risks remaining weak for a while longer. On Friday alone, reports showed the slowest U.S. hiring in more than a year, a slump in Chinese exports and an unexpected decline in German factory orders;

The Trump administration is making “headway” in trade negotiations with China, the top White House economic adviser said on Sunday, brushing off reports suggesting diminishing prospects for a deal and push-back from Beijing;

Australia’s Newcrest Mining Corp. is paying US$800-million to buy a 70-per-cent stake in Imperial Metals Corp.’s Red Chris mine;

Zinc and most other base metals dropped in London as weak Chinese trade data fuelled concerns about growth in the key buyer of raw materials;

In This Issue:

Newcrest Mining (NCM) | Acquiring Red Chris Mine in Canada | Not covered | No rating

Decmil (DCG) | Main Roads WA contract award | BUY | Analyst | Ian Christie

Otto Energy (OEL) | Gulf Coast Update| BUY | Analyst | Michael Eidne

Myanmar Metals Limited (MYL) | Western Hangingwall lode Drilling Results | Analyst | Matthew Keane

Recent Research:


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Argonaut Morning Note