Rise and Shine: What you need to know before the ASX opens
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Good morning all, and welcome to the middle of the week. Coming up on Stockhead today, Ex-tech wreck 1 Page is back! Bill Gates and Jeff Bezos team up in a hunt for the rest of the world’s cobalt. And two things every investor should consider, but probably aren’t.
But first, here’s what you need to know right now:
Today the Australian Bureau of Statistics is releasing yearly and quarterly gross domestic product data, which is a measure of the market value of all the final goods and services produced in the country over the past year.
One company, Proteomics International (ASX:PIQ), has 3.9 million shares being released from escrow today.
Serpentine Technologies (ASX:S3R) is meant to be coming out of a trading halt today, but it may not, as its shares were put into voluntary suspension on Monday.
The company is due to release information about the proposed acquisition of an Australian-based precision fabrication business.
Gold: $US1286.91 ($1815.70) -0.06%
Silver: $US15.13 +0.31%
Oil (Brent): $US65.97 +1.03%
Oil (WTI): $US56.62 +0.19%
Coal: $US96.98 +0.50%
Iron ore 62% fe: $US85.42 -0.65%
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Rod Sims, chairman of the ACCC, called on state governments to free up regulations around gas exploration in order to spur more investment in the sector, and that was of interest on Stockhead‘s Facebook chat forum, with how that might have flow-on effects for small caps.
And Paul Benhaim, boss of Elixinol (ASX:EXL), was in The Pot Seat talking about his plan to stay on top in what is now the biggest and most competitive hemp market in the world.
Celsius Resources (ASX:CLA) was still generating plenty of interest on stock gossip forum HotCopper yesterday, after it announced on Monday the cobalt price was too weak for it to continue evaluating its cobalt project in Namibia.
— HotCopper (@HotCopper) March 5, 2019
Celsius did recover somewhat yesterday, however, though it was perhaps inevitable. Shares rose 32 per cent to recover to 2.5c.
Smiles Inclusive (ASX:SIL) had something to smile about yesterday, with its shares rising 26 per cent to 17c.
The company says its bankers have agreed – for the moment – to overlook any past breaches of its debt covenants.
And this picture caused AuStar (ASX:AUL) shares to rise 25 per cent to 0.4c yesterday:
Authorised Investment Fund (ASX:AIY) shares fell 17 per cent on news it would acquire 30 per cent of SpartaCard, a crypto company.
That’s all you need to know. Hop to it!