Key News Overnight:
A tech rally drove U.S stocks to fresh records at the start of a busy week for corporate earnings, economic data and Federal Reserve speakers. Treasuries climbed. Gains in tech outweighed losses in energy and financial companies in the S&P 500 Index.
Australian shares are likely to edge slightly lower at the open, following a directionless and muted trading session on Wall Street. ASX futures were down 9 points, or 0.1 per cent. The Australian dollar, meanwhile, has risen modestly to 70.38 US cents.
Facebook Inc. faced its latest Washington crisis Monday, with Treasury Secretary Steven Mnuchin joining a parade of policy makers and politicians who’ve criticized its proposed cryptocurrency, demonstrating hurdles the company must overcome.
Gold rose after trading little changed, as a drop in Treasury yields and bets that central banks will lower interest rates outweighed signs of improvement in manufacturing. Lower Treasury yields helped boost the appeal of gold.
Copper rose to the highest in two weeks after Chinese data provided signs that conditions in the world’s second-largest economy are stabilising. China’s economic growth rate slowed to the weakest pace since quarterly data began in 1992.
In This Issue:
St Barbara (SBM) | Atlantic Gold shareholders approve acquisition| BUY | Analyst | James Wilson
Rio Tinto (RIO) | Quarterly Report | Not covered | No rating
NRW Holdings (NWH) | RIO’s Pilbara Projects | Not covered | Ian Christie
Recent Research:
Carnarvon Petroleum (CVN) | Quarterly Report June 2019| SPEC BUY | Analyst | Michael Eidne
Industrials – Factoring risks into valuations | 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
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