Market Highlights and 5 ASX Small Caps to watch on Wednesday
Link copied to
Tech-heavy Nasdaq surged by almost 2% and led Wall Street in a bullish session overnight.
Nasdaq-listed Tesla jumped 8% and its market cap soared above US$1 trillion again, following the announcement of its new vehicle-manufacturing plant in Germany.
The other two major US stock market indices, the S&P 500 and the Dow, also rose by around 1% and erased losses from the previous day.
Conflict in Ukraine is entering its first month and a military stalemate is currently playing out on the ground, giving further impetus for the continuing volatile commodities market.
Brent crude was down 1% to trade at $US114.55, and nickel continues to be volatile with the 3-month nickel futures on the LME tumbling by as much as 14% overnight.
To cryptos, where Bitcoin gained 4% to trade at US42,270 at 8.30am AEDT.
Check out Coinhead’s story on this decentralised trading project built on Solana aimed at gaining adoption from institutional users.
Back home, the ASX 200 is set to open higher this morning, with the April futures pointing up by 0.35%.
The health tech company announced a contract win with Bethanie, one of the largest aged care providers in WA. The deal will provide ICR entry into the $14.3 billion residential aged care industry. ICR said the contract win was a result of its strategic supply deal with Optus.
The engineering company reported that its subsidiary Heyday has received contract awards totalling circa $50m in the commercial sector in Sydney. SXE is also anticipating a rebound in commercial construction in NSW in coming periods.
Reach has appointed of Jeremy Bower as CEO of the company, effective immediately. The company says Bower is a highly skilled project manager with 15 years of experience in the mining, agricultural and industrial sectors.
Derek Thomson has given notice of his resignation as CEO of the company, and will serve out his six months notice period. The Board has now commenced the search for a suitably experienced CEO.
Alto has updated its Mineral Resource Estimate at 12.4Mt @ 1.6 g/t gold for 635,000oz for the Sandstone Gold Project. The resource update represents an increase of 92% in contained gold, at an average discovery cost of less than A$14/oz.