Morning Shot: Gold, Silver Higher, Shares To Watch

Morning Shot: Gold, Silver Higher, Shares To Watch

Rajan Dhall  | Jun 20, 2017 08:03

Asian bourses traded mixed this morning with the Nikkei up 0.8% and the ASX down the same amount due to softness in commodities.

Copper is currently flat this morning but DCE iron was also weak overnight. After some weakness seen yesterday gold has started the day higher currently up 0.24% with silver the better performer up nearly 1%. Spot WTI languishes at $44.50 but remember today we do see the latest API numbers after market.

Over night some of the recent strength in NZD continued along with a slight move higher in AUD. This came after the RBA minutes showed they will not change their monetary policy path. There was also a boost in the DXY after comments from Fed's Dudley yesterday, where he stated he was confident inflation would rise with wages.

Morning Stories

Orange (LON:0OQV) could get £900M ($1.15 billion) by selling some of its its stake in British rival BT Group (LON:BT) from 4 percent to as little as 1.33 percent

A group comprising France's Total and Royal Dutch Shell (LON:RDSa) won the 15th shallow water oil and gas block put up for auction on Monday, the Mexican oil regulator said.

Unilever (LON:ULVR) stated it would buy luxury cosmetics brand Hourglass. Terms of the deal were not disclosed.

SSE (LON:SSE) is looking at the offshore wind power industry for a possible first foreign investment, its chief executive said on Monday.

Wolseley (LON:WOS) report Q3 Trading profit £254M vs previous £232M y/y, Rev £4.27B vs previous £3.66B y/y- Gross margin 28.5% vs previous 28.4% y/y -UK LFL -0.4%, USA LFL +8.5%

SSE, stated on Monday that EDF (PA:EDF)'s planned nuclear power station at Hinkley Point is likely to be the only one to go ahead in the UK.

Standard Life (LON:SL)'s 11 billion pound ($14.04 billion) mega deal to buy Aberdeen Asset Management (LON:ADN) was approved by both Co.'s shareholders at meetings on Monday. Serco (LON:SRP) wins £1.5B contract for New Grafton Correctional Centre

GlaxoSmithKline (LON:GSK) has struck a agreement for Luke Miels to start as its new head of pharmaceuticals in September, following a lengthy dispute over his contract with his former employer AstraZeneca (LON:AZN).

Barclays (LON:BARC) and four individuals have been charged with conspiracy to commit fraud by the Serious Fraud Office

Tata Motors (NS:TAMO) stated on Monday it had no plans to list its luxury British car brand Jaguar Land Rover after Bloomberg reported that the automaker was considering an initial public offering of the unit.

What to look out for

BoE Governor Carney's Mansion House Speech, following the 5 - 3 vote, expected at 8.30 BST

Original post

Rajan Dhall

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