Rise and Shine: What you need to know before the ASX opens
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Happy Tuesday Stockheads!
But first, here’s what you need to know right now:
It’s a biggie. Today the Australian Bureau of Statistics gives us the official word on how much the Sydney and Melbourne housing markets have plummeted with the release of quarterly and yearly house price data. We might also get a hint of a coming rate cut buried in the minutes of the latest Reserve Bank of Australia meeting.
Apiam Animal Health (ASX:AHX) has 129,103 shares coming out of escrow today, while eCargo (ASX:ECG) has a whopping 113 million being released.
Only two companies are currently in trading halts and may resume trading today: Fenix Resources (FEX) with an update on its Iron Ridge project in WA and Blackham Resources (ASX:BLK) with an update on its funding arrangements.
Gold: $US1304.96 ($1,838.23) +0.16%
Silver: $US15.30 +0.37%
Oil (Brent): $US67.39 +0.49%
Oil (WTI): $US58.90 +0.85%
Coal: $US91.25 -1.64%
Iron ore 62% fe: $US86.12 +0.16%
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New member Maxwell Percy proffered: “I agree with Mercer about to delist I can’t see it getting much better in the short term and that is from a kiwi. I find the ASX quite a different kettle of fish. Exciting and heaps of opportunities plus new listings etc.”
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Monday:
— HotCopper (@HotCopper) March 18, 2019
ResApp (ASX:RAP) was in the news due to the latest results from its coughing app trial.
Kingsgate Consolidated (ASX:KCN) shareholders have waited many moons for this: the company’s insurers had agreed to cough up for its cancelled Thai mine.
Yesterday morning Kingsgate gave shareholders the good news – insurers had agreed to an $82m payout. Shares closed up 43 per cent to 22c.
IoT and smart spaces play Buddy (ASX: BUD) was also up 24 per cent to 8c after updating the market on its acquisition of smart lighting business LIFX.
engage:BDR (ASX:EN1) shares rose 82 per cent to 3.2c after reporting increased incremental revenue.
The company says it is worth about an extra $28,000 each day.
In January, Farm Pride Foods (ASX:FRM) said that finances were getting smashed by the national egg surplus, as well as ongoing drought conditions which affected feed prices.
It also said “these unfavourable conditions are expected to continue for some time”. Shares fell 23 per cent to 52c.
That’s all you need to know. Go go go!