Rise and Shine: What you need to know before the ASX opens
Coming up on Stockhead today, why testing drugs on mice is not a guaranteed money-maker, the millennial director who chose his own company over a house, and Ausmex director Matt Morgan tells us all about picking gold up off the ground.
But first, here’s what you need to know right now:
Not a great deal of financial or economic data being released this week, but let’s take a look at what is.
Tuesday will see the release of the NAB’s business conditions and business confidence figures, as well as the Australian Bureau of Statistics dropping hot monthly data on home loans.
Westpac is releasing consumer confidence figures on Wednesday.
And the Melbourne Institute is putting out consumer inflation expectations for March on Thursday.
Just two companies at this early point in the week due out of trading halts: Tesserent (ASX:TNT) and Black Rock Mining (ASX:BKT), both with news of a capital raise.
There are a wealth of companies releasing shares from escrow this week — and you can view all of them, how much they’re dropping, and when, right here.
Gold: $US1298.01 ($1884.84) +0.97%
Silver: $US15.31 +1.96%
Oil (Brent): $US65.74 -0.84%
Oil (WTI): $US56.07 -1.04%
Coal: $US93.02 -2.70%
Iron ore 62% fe: $US85.15 -1.86%
Want this headstart in your inbox every morning at 8am? Go on. Subscribe here. It’s free
In a new column, take a look at the 10 biggest stories on Stockhead last week that you might have missed.
Most members thought the news was exciting but member Alan Daw raised a great point: “Let’s hope they do better than Fonterra did with their previous partnership,” referring to Kiwi dairy giant Fonterra winding down its relationship with Beingmate late last year.
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Friday:
— HotCopper (@HotCopper) March 8, 2019
The Spectrum Metals (ASX:SPX) share price doubled this week, closing at 0.8c on Friday after it announced earlier in the week it had made a new high-grade gold discovery at its Western Australia Penny West site.
“Success in outlining a high-grade development opportunity can works wonders for the junior’s market value, albeit off a low base. That is the hope of shareholders in a little thing called Spectrum Metals,” wrote Stockhead columnist Barry FitzGerald.
Winx was exciting shareholders this week, but it had nothing to do with the horse that has won 31 consecutive races. Alaskan oil driller 88Energy (ASX:88E) saw its shares rise 28 per cent this week to 2.2c after issuing a much more positive piece of news for its Winx-1 well.
The driller said the well hit all of their pre-planned targets and identified multiple locations where oil and gas may be, including in the primary Nanushuk zone.
Indoor Skydiving (ASX:IDZ) told the ASX that it had no idea why its shares closed up 45 per cent at 1.6c this week, while the fun continued at payments provider Splitit (ASX:SPT), which rose 48 per cent this week to $1.51, another new high.
Cobalt miner Celsius Resources (ASX:CLA) announced this week it had decided to all but stop evaluation work on its Opuwo project in Namibia due to the languishing cobalt price.
That sent its shares down 57 per cent over the course of the week, to 2.1c.
Longtable Group (ASX:LON) fell 37 per cent this week, after buying the rest of Maggie Beer’s food business and launching a discounted capital raise.
Shares closed at 22c.
That’s all you need to know. Go go go!