Rise and Shine: What you need to know before the ASX opens
Coming up on Stockhead today, a VC tells us three things you should and shouldn’t do when pitching your idea, beer made from cannabis actually tastes like p..s, and the federal politician who thinks copper is a “rare earth” resource. Ha.
But first, here’s what you need to know right now:
Today the Reserve Bank of Australia releases a bulletin on economic developments today, while the ever-busy Australian Bureau of Statistics drops a range of employment figures.
No shares coming out of escrow today, but one company may come out of a trading halt today. Cynata (ASX:CYP) has got investors in a lather by mentioning Japanese technology giant Fujifilm in its trading halt announcement. Fujifilm is Cynata’s biggest shareholder.
Gold: $USD1313.83 ($1,844.43) +0.60%
Silver: $USD15.51 +0.93%
Oil (Brent): $USD68.24 +1.15%
Oil (WTI): $USD60.19 +1.78%
Coal: $USD90 -0.24%
Iron ore 62% fe: $USD86.23%
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Takeover news was of interest on the Stockhead Facebook chat forum. The lawyers at intellectual property companies IPH (ASX:IPH) and Xenith (ASX:XIP) are still duelling, with the former now “disappointed” the latter still doesn’t think its now-formal takeover bid is good enough, while MacMillan Shakespeare (ASX:MMS) has called off a merger with Eclipx (ASX:ECX) after the latter said profit was down another 42.4 per cent since January, compared to the first five months of fiscal 2018.
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Wednesday:
— HotCopper (@HotCopper) March 20, 2019
Coal miner Paringa Resources (ASX:PNL) was up 23 per cent to 16c after securing a $US56 million loan to accelerate production at its Poplar grove mine in Kentucky.
Jaxsta (ASX:JXT) shares rose 46 per cent to 35c on no news, but the company has been riding a wave of momentum of late as it secures some big names on its music accreditation platform.
Earlier this month it signed Warner Music and Universal Music as data partners, alongside Sony, meaning it now has all three major labels, covering about 80 per cent of the industry.
Lepidico (ASX:LPD) shares closed up 19 per cent to 3c after it told investors it was on budget and on schedule to build its pilot plant in Perth.
It reckons construction is 91 per cent complete.
Eclipx was the biggest loser on the aforementioned news, down 56 per cent to close at 83c.
Workplace facilitators Konekt (ASX:KKT) shares fell 17 per cent to 19c on media speculation about Jobactive going digital.
“Konekt has not assessed the impact of this speculation and will provide ongoing updates as firm information is published,” it said.
That’s all you need to know. Go go go!