Key News Overnight:
Investors await a speech by U.S. Federal Reserve chief Jerome Powell today. There was mixed economic data and mixed messages from Federal Reserve district presidents on interest rates. Shares in Boeing rose by 4.2% after Reuters reported that the plane maker is looking to increase production of the 737 MAX jets as early as October. The Dow Jones rose by 49.5 points or 0.2% while the S&P500 fell by 0.1% and the Nasdaq lost almost 29 points or 0.4%.
The gold futures price fell by US$7.20 an ounce to US$1,508.50 an ounce. The spot gold price was trading near US$1,498 an ounce in late US trade. Iron ore rose by US$2.00 or 2.4% to US$85.00 a tonne.
Global oil prices fell by 0.6% on Thursday. Traders continued to worry about the sluggishness of the global economy and therefore demand for oil.
Base metal prices fell by between 0.1-2.0% on the London Metal Exchange on Thursday with tin down the least and zinc falling the most.
In This Issue:
Gold Road Resources (GOR) | Gold Fields sells its 9.9% stake in GOR | BUY (under review) Analyst | James Wilson
Matrix C&E (MCE) | FY19 results | HOLD | Analyst | Ian Christie
Pacific Energy (PEA) | FY19 results; ceasing coverage | HOLD | Analyst | Ian Christie
Recent Research:
Pacific Energy (PEA) | Paringa Resources (PNL) | Atrum Coal (ATU) | Western Areas (WSA) | St George Mining (SGQ) | Gage Roads (GRB)
Please read Argonaut’s Important Disclaimers & disclosures
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