Rise and Shine: What you need to know before the ASX opens
News
On Stockhead today, the most in-demand stocks on the ASX right now, the big player driving graphite prices higher, and the gaming stocks the experts are backing right now.
But first, here’s what you need to know before markets open.
The NAB’s monthly business survey is out this morning (11:30am eastern time). The index has been decline for most of this year, but Westpac’s economics team think the latest reading could rise sharply now there’s some political clarity following last month’s federal election.
That will be followed by Westpac’s monthly consumer confidence survey tomorrow, along with speeches by RBA assistant governors Chris Kent and Lucy Ellis.
And the big data event this week is the May employment report, scheduled for Thursday (11:30am AEST).
The RBA has highlighted labour market moves as the central cog in the current outlook for interest rates, and the unemployment rate has ticked higher above 5 per cent in the last two months. The median forecast is for monthly jobs growth of 15,000 with the unemployment rate to hold at 5.1 per cent.
Globally, Wednesday will be busy with Chinese inflation data for May in Asian trade, followed by US inflation figures on Wednesday night along with a speech by ECB President Mario Draghi.
The following companies are scheduled to come out of a trading halt or voluntary suspension during today’s session:
TNG (ASX: TNG) – capital raising
Benetic Biopharma (ASX: BLT) – contract update
My Fiziq (ASX: MYQ) – commercial partnership
Emerge Gaming (ASX: EM1) – partnership announcement.
Gold: $US1,328.19 ($1,907.94) -0.94%
Silver: $US14.68 -1.96%
Oil (Brent): $US62.47 -1.49%
Oil (WTI): $US53.37 -1.06%
Coal: $US76.75 +2.33%
Iron ore 62pc fe: $US97.78 +0.02%
AUD/USD: $US0.6960 -0.01%
Group members on the Stockhead Facebook forum were interested in the latest edition of Escrow Watch along with some recent M&A activity in the cannabis sector.
Oh and if you haven’t already, jump on the group page and join in the survey we’re running on the most commonly used share trading platforms.
These were the five most-discussed stocks on trading gossip forum HotCopper at close yesterday:
Close Top 5 #MostDiscussedStocks: $LTR $AGY $DCN $AUZ $LYC #asx #ausbiz https://t.co/xOFzWmkzay
— HotCopper (@HotCopper) June 10, 2019
Junior explorer Predictive Discovery (ASX: PDI) led the market all week, after a big gold find at its Ferkessedougou North project in Cote D’Ivoire.
The company said it had struck an intercept 100m wide and at least 210m long, with one 9-metre intersection returning mineralisation of 10.31 grams per tonne.
Here are the best performing ASX stocks for the week ended June 7:
Ticker | Name | Price last Friday | Price this Friday | % change | Market Cap |
---|---|---|---|---|---|
ADD | ADAVALE RESOURCES | 0.003 | 0.009 | 200 | $997,737.06 |
NTI | NEUROTECH INTERNATIONAL | 0.012 | 0.025 | 117 | $3,529,340.50 |
ARM | AURORA MINERALS | 0.008 | 0.017 | 112 | $2,811,198.75 |
AHN | ATHENA RESOURCES | 0.013 | 0.024 | 85 | $6,502,822.00 |
PDI | PREDICTIVE DISCOVERY | 0.009 | 0.019 | 78 | $4,722,273.00 |
KKL | KOLLAKORN | 0.01 | 0.016 | 60 | $3,356,435.00 |
NES | NELSON RESOURCES | 0.05 | 0.079 | 58 | $3,601,834.75 |
ANL | AMANI GOLD | 0.002 | 0.0025 | 50 | $15,639,682.00 |
AVW | AVIRA RESOURCES | 0.002 | 0.003 | 50 | $3,000,000.00 |
RNX | RENEGADE EXPLORATION | 0.002 | 0.003 | 50 | $2,137,880.00 |
BLK | BLACKHAM RESOURCES | 0.007 | 0.01 | 43 | $31,042,176.00 |
DTM | DART MINING | 0.006 | 0.007 | 40 | $7,079,633.00 |
K2F | K2FLY | 0.115 | 0.16 | 39 | $12,056,663.00 |
VMG | VDM GROUP | 0.002 | 0.002 | 33 | $12,555,322.00 |
GPP | GREENPOWER ENERGY | 0.0015 | 0.002 | 33 | $3,886,414.25 |
NOR | NORWOOD SYSTEMS | 0.003 | 0.004 | 33 | $8,306,041.00 |
OVL | ORO VERDE | 0.002 | 0.002 | 33 | $3,111,357.00 |
RXH | REWARDLE | 0.003 | 0.004 | 33 | $2,105,286.00 |
SMI | SANTANA MINERALS | 0.003 | 0.004 | 33 | $2,700,798.00 |
EHX | EHR RESOURCES | 0.03 | 0.04 | 33 | $5,066,719.50 |
FPL | FREMONT PETROLEUM | 0.01 | 0.011 | 30 | $21,688,360.00 |
RAN | RANGE INTERNATIONAL | 0.024 | 0.031 | 29 | $6,232,704.50 |
BMG | BMG RESOURCES | 0.011 | 0.014 | 27 | $7,808,253.50 |
NVA | NOVA MINERALS | 0.015 | 0.019 | 27 | $14,708,549.00 |
ABV | ADVANCED BRAKING TECHNOLOGY | 0.015 | 0.019 | 27 | $5,643,946.00 |
HFR | HIGHFIELD RESOURCES | 0.73 | 0.95 | 26 | $303,163,008.00 |
LKE | LAKE RESOURCES | 0.08 | 0.1 | 25 | $40,328,600.00 |
CY5 | CYGNUS GOLD | 0.04 | 0.05 | 25 | $3,034,167.00 |
SHH | SHREE MINERALS | 0.006 | 0.008 | 25 | $4,558,026.50 |
GBZ | GBM RESOURCES | 0.004 | 0.005 | 25 | $5,452,985.00 |
The search for gold giveth, and it also taketh away.
While Predictive Discovery rose by as much as 200 per cent last week, it was a different story for Dacian Gold (ASX:DCN).
The company announced its second production downgrade in three months at its Mount Morgan operation in three months. The company’s stock price fell more than 70 per cent following the negative updated, which it blamed on poor contractor performance and low gold grades.
Here are the worst performing ASX stocks for the week ended June 7:
Ticker | Name | Price last Friday | Price this Friday | % change | Market Cap |
---|---|---|---|---|---|
TMZ | THOMSON RESOURCES | 0.035 | 0.026 | -26 | $2,933,169.00 |
IPD | IMPEDIMED | 0.155 | 0.12 | -26 | $43,677,460.00 |
AZY | ANTIPA MINERALS | 0.019 | 0.0155 | -26 | $29,068,656.00 |
ADR | ADHERIUM | 0.034 | 0.025 | -26 | $4,356,848.50 |
WHK | WHITEHAWK | 0.145 | 0.11 | -28 | $16,413,515.00 |
LMW | LANDMARK WHITE | 0.27 | 0.18 | -28 | $15,324,140.00 |
EER | EAST ENERGY RESOURCES | 0.007 | 0.005 | -29 | $16,004,935.00 |
JPR | JUPITER ENERGY | 0.024 | 0.017 | -29 | $2,607,420.75 |
RIE | RIEDEL RESOURCES | 0.01 | 0.007 | -30 | $2,926,488.00 |
AAU | ADCORP AUSTRALIA | 0.01 | 0.007 | -30 | $3,185,522.00 |
MOY | MILLENNIUM MINERALS | 0.105 | 0.075 | -30 | $65,056,616.00 |
AIY | AUTHORISED INVESTMENT FUND | 0.059 | 0.043 | -31 | $17,302,712.00 |
RMG | RMG | 0.016 | 0.011 | -31 | $6,774,513.50 |
CTM | CENTAURUS METALS | 0.009 | 0.0065 | -33 | $16,253,893.00 |
SPB | SOUTH PACIFIC RESOURCES | 0.004 | 0.002 | -33 | $331,030.63 |
DTR | DATELINE RESOURCES | 0.003 | 0.002 | -33 | $15,938,908.00 |
TSC | TWENTY SEVEN CO | 0.003 | 0.0025 | -33 | $1,962,122.63 |
GGX | GAS2GRID | 0.003 | 0.002 | -33 | $3,457,227.25 |
VPR | VOLT POWER GROUP | 0.0015 | 0.001 | -33 | $8,244,533.50 |
MYQ | MYFIZIQ | 0.25 | 0.016 | -36 | $14,526,169.00 |
ARD | ARGENT MINERALS | 0.016 | 0.011 | -38 | $5,395,613.50 |
VAR | VARISCAN MINES | 0.002 | 0.001 | -50 | $1,271,073.63 |
AKN | AUKING MINING | 0.002 | 0.001 | -50 | $932,584.44 |
COY | COPPERMOLY | 0.01 | 0.005 | -50 | $8,615,217.00 |
SUR | SUN RESOURCES | 0.002 | 0.001 | -50 | $881,057.56 |
DCN | DACIAN GOLD | 1.58 | 0.043 | -72 | $99,313,896.00 |