Key News Overnight:
The U.S. and China declared a truce in their trade war on Saturday, as Donald Trump said he would hold off imposing an additional $300b in tariffs and the world’s two largest economies agreed to resume negotiations.
Jeremy Hunt and Boris Johnson, both competing to become U.K. prime minister next month, reiterated their willingness to leave the European Union without a deal if necessary, as both insisted they have the fiscal space to fund their spending plans.
Australian shares are poised to open the new fiscal year higher, bolstered by the US-China trade truce and with investors positioning for a rate cut as soon as tomorrow. ASX futures were up 18 points or 0.3% to 6577 over the weekend.
Iron ore exports from Australia are set to drop for the first time in almost two decades following bad weather and output setbacks, worsening a global shortage and bolstering prices that have already surged to a five-year high.
Gold recorded its best monthly advance since the U.K. voted to leave the European Union in June 2016 as its price rallied to a six-year high of US$1408.9.
In This Issue:
Gold Road Resources (GOR) | First gold poured at Gruyere| BUY | Analyst | James Wilson
Metro Mining (MMI) | Further bauxite offtake | BUY | Analyst | Matthew Keane
Agrimin (AMN) | AMN signs an MOU with Native Title Holders | SPEC BUY | Analyst | Michael Eidne
Triangle Energy (TEG) | Xanadu 3D Seismic Update and Debt Repayment | SPEC BUY | Analyst | Michael Eidne
Recent Research:
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
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
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