Key News Overnight:
US equities were higher in Wednesday trading, though no definitive explanation for the strength. Release of July Fed minutes not much of a factor, with investors looking toward Powell comments on Friday.
Discussion about potential stimulus from the Trump administration remained a major theme in the press. While payroll, capital gains and corporate tax cuts received most of the attention, a recent NY Times article also said tariffs could be dialed back a bit. However, prospects for anything meaningful seem very low.
A no-deal Brexit is the likeliest scenario, according to France. That would mean the immediate imposition of border control when the U.K. crashes out of the bloc on Oct. 31, warned an official in President Emmanuel Macron’s office.
Iron ore’s fall is so severe that after weeks of relentless selling the raw material is now at risk of losing all of the gains that followed the supply trauma triggered by Vale SA’s dam collapse in Brazil.
Copper rose on optimism that China, the largest consumer of the industrial metal, may boost government stimulus to support the economy. LME Copper finished 0.4% higher at US$5,707/t.
In This Issue:
Santos (STO) | 1 Half FY19 Results | Not covered | Michael Eidne
South 32 (S32) | FY19 Financial Results | Not covered | Matthew Keane
Downer (DOW) | FY19 Results | Not covered | Ian Christie
Mineral Resources (MIN) | FY19 Full Year Results | Not covered | No rating
Recent Research:
Paringa Resources (PNL) | Atrum Coal (ATU) | Western Areas (WSA) | St George Mining (SGQ) | Gage Roads (GRB)
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