Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, we get an expert’s take on the pick-up in the number of mining hopefuls heading for the ASX, Tim Boreham delves deep into the only ASX-listed biotech in the photodynamic therapy game and a newly minted base metals play lights up the boards at a nearly 33 per cent premium on its first day on the ASX.
It’s a busy week for the Reserve Bank. On Tuesday the board will meet for the first time in 2020. Members will have plenty of things to consider about the economy beyond inflation, including the Christmas shopping season and the bushfires crisis.
On Friday Governor Phillip Lowe will give his semi-annual testimony to parliament.
In economic data, Thursday is the busiest day with monthly retail sales, NAB Business confidence and Australia’s trade balance. Additionally, today will see the Melbourne Institute release its monthly inflation gauge.
The following ASX companies are in trading halts and are expected to exit in the next two trading days:
Gold: $US1,586.35 ($2,369.94) (+0.79%)
Silver: $US17.99 (+0.79%)
Oil (WTI): $US51.54 (-1.16%)
Oil (Brent): $US58.01 (-0.48%)
Coal: $US67.17 (-0.16%)
Iron 62pc Fe: $US92.44 (-0.50%)
AUD/USD: $US0.6694 (+0.03%)
Bitcoin: $US9,419.02 (+0.66%)
Gold just can’t put a foot wrong at the moment. Our recap of gold news on Thursday got the most attention.
News on Thursday included Newcrest Mining’s (ASX:NCM) drilling plans for the next two quarters and a find by smaller explorer Focus Minerals (ASX:FML). Focus hit shallow, high-grade gold — like 4m at 21.69g/t from 28m – at Beasley Creek South in WA.
Havieron – now 450m long, 150m wide and +600m vertical depth — signals “the real potential for renewal of Newcrest’s asset portfolio in the Paterson region”, says Newcrest boss Sandeep Biswas $NCM $CZL $FML #ASX #ausbiz https://t.co/mKho3iQMQz
— Stockhead (@StockheadAU) January 30, 2020
Meanwhile in our Facebook Small and Micro cap chat group it was about regenerative foods – triggered by Wide Open Agriculture’s (ASX:WOA) strong quarterly. If you’re not yet a member we’d love to have you join – which you can here.
These were the most tipped stocks (weekly) on Stocks in Play: