Analysts find the outlook for diversified miners constrained by softening metal prices, particularly copper, gold and silver.
Jonathan Barratt of Barratt’s Bulletin suggest that having failed on its recent break-up, gold is likely to once again consolidate. Silver upside may not be far away.
Weak US data, an unnerving comment from a Fed president and a sudden appreciation of North Korean bellicosity sent Wall Street rushing for the exits last night. Dow down 111. (Accessible only for subscribers before 10:15 AEDST)
Prices for several commodities – oil, iron ore and coal – came of their highs over March and analysts ask whether these levels will be regained.
Wall Street doesn’t much care about North Korea, or Europe for that matter. Dow up 89. (Accessible only for subscribers before 10:15 AEDST)
Newcrest’s production guidance downgrade for FY13 was not unexpected and brokers believe, longer term, the company has lots of potential.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Not all analysts are bearish on iron ore, while thermal coal in the longer term is causing concern and gold finds are diminishing.
Jonathan Barratt of Barratt’s Bulletin discusses the influence on gold of run-on-the-banks fears developing in Europe.
The world was reminded last night Italy still has no government, while Cyprus has moved to limit money transfers ahead of bank re-openings. Dow down 37. (Accessible only for subscribers before 10:15 AEDST)