Market Highlights and 5 ASX Small Caps to watch on Thursday
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Aussie shares are poised to follow Wall Street into the red today, with the ASX 200 April futures pointing down by 0.1% at 8am AEDT.
Overnight, US stocks were battered as minutes from the last US Fed meeting revealed plans to reduce its massive bond holdings at $US95 billion a month.
The minutes also showed that Fed officials had wanted to hike rates by 50bp in March, but decided for 25bp due to the Ukraine crisis.
[CHART] US interest rates trended higher overnight after minutes from the latest Fed Reserve meeting signalled a reduction of bond holdings at a maximum pace of US$95bln a month. US 10yr yields rose by 3pts to near 2.59%; 2yr yields fell by 3 points to near 2.48%. Bloomberg pic.twitter.com/TWvqZoJzYC
— CommSec (@CommSec) April 6, 2022
Tech heavy Nasdaq fell by another 2%, bringing its total loss in two days to almost 5%. The S&P 500 was down 0.97%, while the Dow slipped 0.42%.
Fresh sanctions have been imposed on Russia after war crime reports in the Ukrainian city of Bucha.
But oil prices retreated 5% overnight, as member countries of the International Energy Agency (IEA) said they will release a combined 120 million additional barrels of oil from strategic reserves.
The Aussie dollar retreated to US75.17c after scaling to over US76c on Tuesday.
Meanwhile, Bitcoin has tumbled to $43,850 at 8.30am AEDT, from the $45,900 level yesterday. Not great timing for attendees at the Australian Financial Review’s cryptocurrency conference.
AdAlta has received an Indian patent for its lead program, AD-214. The new patent protects the i-body sequence used in AD-214, as well as its pharmaceutical compositions and derivatives. India is the sixth country to grant a patent for AD-214 after Australia, US, Japan, China and Singapore.
CV Check (ASX:CV1)
CV Check’s revenues continue to grow in the March 2022 quarter, rising by 64% on pcp to $6.9m. This takes its total year‐to‐date revenue to $19.7m, up 77% on the pcp.
Lodestar Minerals (ASX:LSR)
Lodestar announced positive results from re-assaying of previous RC drilling in the northern tenements of the Nepean Nickel Project. Results include 1m at 0.88% Li2O, from 78m within 4m at 0.35% Li2O from 78m. Auroch Minerals (ASX:AOU) owns an 80% interest, and is the operator of the project.
EVZ Limited (ASX:EVZ)
EVZ Engineering has secured three new bulk storage tank contracts in the liquid fuels, water storage and defence sectors. The total value is around A$17m, and will be commencing in Q4 FY22 with completion expected in FY23.
Charger Metals (ASX:CHR)
Charger has confirmed massive sulphide targets at its Coates Nickel-Copper-PGE Project near Julimar. Maiden drill programme will commence shortly, with five diamond core drill holes planned to test conductor targets.