Key News Overnight:
The U.S. House joined the fight over Hong Kong, planning to vote Wednesday on a Senate bill backing Hong Kong protesters. The move will likely further anger Beijing, which was furious after the Senate vote. President Trump will need to either sign the law — possibly endangering his trade deal — or risk having his veto overridden.
The news sent U.S. stocks further into the red. Telecom companies and automakers led the S&P 500 to its biggest decline in a month. Treasuries rose, with 10-year yields down five basis points.
European stocks closed lower for a third day amid concerns over the impact of Hong Kong protests on a U.S.-China trade deal. Regional bonds mostly rose, though Israeli debt fell after Benny Gantz failed to form a government.
The EU warned France, Italy and Spain about their rising debt and said that only countries with a healthy budget position should be boosting spending. The European Commission’s comments are at odds with the ECB’s message urging fiscal expansion.
Oil jumped as American crude stockpiles rose less than expected and inventories at a key storage hub shrank by the most since August. WTI gained 3.4% after the EIA said Cushing crude supplies declined by 2.3 million barrels.
In This Issue:
Peet (PPC) | AGM | HOLD | Analyst | Ian Christie
Macmahon (MAH) | Company presentation | BUY | Analyst | Ian Christie
Salt Lake Potash (SO4) | Land access agreement executed for Lake Way Project | BUY | Analyst | M. Eidne
Mineral Resources (MIN) | AGM Update | Not covered | No rating
Recent Research:
Saracen Mineral Holdings (SAR) | Salt Lake Potash (SO4) | Argonaut’s 2019 Best Undeveloped Projects | Botanix Pharmaceuticals (BOT) | St George Mining (SGQ) | Metro Mining (MMI)
Please read Argonaut’s Important Disclaimers & disclosures
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