Rise and Shine: What you need to know before the ASX opens
Link copied to
On Stockhead today, how Avita Medical rose over 500 per cent in two years, the Chinese metals sector is rapidly recovering from COVID-19 disruption and NSW aims to be the hydrogen frontrunner with statewide gas network plan.
Amid the coronavirus chaos, economic data has been rendered more or less futile. Today’s events will be guided by news flow around the number of positive corona tests, what US stocks do and any new announcements around fiscal policy.
That said, on the local data front Westpac will release its monthly leading index for February. The index is a gauge of future expectations for the economy, although with the pace of change amid the COVID-19 pandemic, it’s already out of date.
The US Fed was scheduled to make its policy announcement tonight, but it moved the date forward to an emergency meeting last Sunday, where it slashed rates by 100 basis points and flagged $US700bn ($1.2bn) of asset purchases.
The following companies are in trading halts or voluntary suspensions and are expected to exit in the next 48 hours:
Carbon Revolution (ASX:CBR) – capital raising
Kin Mining (ASX:KIN) – capital raising
Blina Minerals (ASX:BDI) – exploration results
Astivita (ASX:AIR) – new product
Advance Nanotek (ASX:ANO) – new product
Murray Cod Australia (ASX:MCA) – acquisition of business assets
Neuroscientific Biopharmaceuticals (ASX:NSB) – pre-clinical study results
Chalice Gold Mines (ASX:CHN) – drilling results
Impression Healthcare (ASX:IHL) – supply agreement
Regional Express (ASX:REX) – revised profit guidance
Ardent Leisure Group (ASX:ALG) – response to COVID-19 regulations
SomnoMed (ASX:SOM) – trading condition update
TBG Diagnostics (ASX:TDL) – certification of diagnostic kit
Gold: $US1,530.20 ($2,555.40) (+1.43%)
Silver: $US12.69 (-2.56%)
Oil (WTI): $US27.23 (-6.18%)
Oil (Brent): $US29.74 (-3.15%)
Coal: $US66.50 (+0.35%)
Iron 62pc Fe: $US89.99 (-0.16%)
AUD/USD: $US0.5989 (-2.09%)
Bitcoin: $US5,449.50 (+10.49%)
Before the crisis hit, small-business lending was a red-hot sector on the ASX. But as Stockhead’s Rachel Williamson highlighted, listed small-cap lenders have been crushed.
There was some better news on the consumer finance side though, as fintech lender Wisr (ASX:WZR) bounced off its crisis-lows with a 50 per cent gain after announcing it had “not seen a material impact to its business” in Q1.
We have a small and micro cap Facebook chat group. If you’re not already a member we’d love to have you join – click on the link here.
These were the most tipped stocks (weekly) on Stocks in Play: