Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, how ‘phytomining’ could transform mine waste into big bucks, the substantial holders that bought & sold this week, and can Boss get Honeymoon over the line in time for a uranium boom?
Australian markets will get the headline data release of the week, with all-important monthly employment figures from the ABS at 11:30am (eastern time).
The median forecast is for 10,000 jobs to be added in June, with unemployment holding steady at 5.2 per cent. Westpac’s economics team expects a “pull back in participation to see u/e rate edge down” to 5.1 per cent.
Looking abroad, there’s a policy announcement from the central bank of South Korea, with economists split on whether rates will be cut or held at 1.75 per cent.
That’s followed by a raft of data out of the US with initial jobless claims, the manufacturing index and the June leading economic index.
The following companies are scheduled to come out of a trading halt or voluntary suspension over the next 48 hours:
De Grey Mining (ASX: DEG) – capital raise
Metgasco (ASX: MEL) – cost overruns reveal
High Grade Metals (ASX: HGM) – acquisition
Marquee Resources (ASX: MQR) – acquisition.
Bod Australia (ASX: BDA) – strategic partnership
Immuron (ASX: IMC) – capital raise
St George Mining (ASX: SGQ) – capital raise
Cynata Therapeutics (ASX: CYP) – response to ASX query.
Gold: $US1,424.74 ($2,034.95) +1.49%
Silver: $US15.94 +2.46%
Oil (Brent): $US63.66 -1.076%
Oil (WTI): $US56.78 -1.46%
Iron ore 62pc fe: $US120.75 -1.2%
AUD/USD: $US0.7009 -0.06%
The top story on Stockhead yesterday was Nick Sundich’s M&A recap, which showed activity in the ASX small cap sector is up 23 per cent this year. All posts are open for discussion and comments on Stockhead’s Facebook group chat – apply to join here.
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Wednesday, July 17:
— HotCopper (@HotCopper) July 17, 2019
Southern Gold (ASX: SAU) led the pack early, and held most of its gains to close 36 per cent higher after announcing another “bonanza” grade gold-silver discovery at its fully-owned Deokon project in South Korea.
And it was an interesting session for telecommunications company TPC Consolidated (ASX: TPC), which has been steadily sliding in 2019 from around $1 to below 40 cents.
The company hasn’t made a market announcement since February, but today the stock rocketed higher to close at 61 cents — a gain of 52.5 per cent.
These were the best performing small-caps on the ASX for Wednesday, July 17:
These were the worst performing small-caps on the ASX for Wednesday, July 17: