Iron Ore

Sims Metal surprised brokers with its better-than-expected FY16 guidance but sentiment remains cautious given the rally in scrap metal prices has not been sustained.

Prior to any confirmation, global markets were satisfied last night the UK would stay. Dow up 230. (Accessible only for subscribers before 10:15 AEST)

Oil recovery; copper outlook; nickel deficit emerges; steel sentiment negative; commodity usage in electric vehicles; Bell Potter appraises Magnis Resources.

The world remains on hold as no clear result is yet evident. Dow down 48. (Accessible only for subscribers before 10:15 AEST)

Global markets appear to have entered a quiet period ahead of the vote. Dow up 24. (Accessible only for subscribers before 10:15 AEST)

Global markets staged a major reversal last night on the back of the Brexit polls, although excitement faded late in the US. Dow up 129. (Accessible only for subscribers before 10:15 AEST)

Increases in scrap prices in April and May have not held up in June, leading some brokers to downplay the outlook for Sims Metal Management.

Rising interest in lithium, coupled with a surge in the iron ore price earlier in the year, has lifted Mineral Resources to new heights forcing several brokers take a cooler approach to the stock.

Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.

FNArena’s Treasure Chest reports on money making ideas from stockbrokers and other experts. Weak Chinese data and potential Brexit volatility suggest to ANZ “dark clouds” are appearing on the horizon for commodities.