On Stockhead today, the ASX’s American frackers that may or may not survive $US20 oil, two investment pros offer up their views on where to next for markets and how COVID-19 might have made copper look more attractive sooner.

But first…

 

The day ahead

Today in economic data look out for the Westpac Leading Index and monthly skilled vacancies.

Also today at 11.30am the Reserve Bank will release the monthly minutes of its meeting two weeks ago. Then at 3pm Governor Phillip Lowe will be giving a speech in Sydney.

We are also expecting confirmation from Virgin Australia (ASX:VAH) that it has gone into voluntary administration following its failure to secure enough government finance to continue in it’s present shape.

Among companies raising capital, Magnetite Mines’ (ASX:MGT) rights issues closes today at 5pm.

The following companies are in trading halts and are expected to exit in the next two trading days:

Tuesday:

AVZ Minerals (ASX:AVZ) – DFS study results
Accelerate Resources (ASX:AX8) – capital raising
Volpara Health Technologies (ASX:VHT) – capital raising
PKS Holdings (ASX:PKS) – acquisition

Wednesday:

Rhipe (ASX:RHP) – capital raising
Metcash (ASX:MTS) – capital raising
Legend Mining (ASX:LEG) – exploration results
Sunstone Metals (ASX:STM) – capital raising
MRG Metals (ASX:MRQ) – mineral resource estimate
Pioneer Credit (ASX:PNC) – debt facility update
Cynata Therapeutics (ASX:CYP) – capital raising
Avita Medical (ASX:AVH) – reorganisation

 

Markets

Gold: $US1,694.80 ($2,673.99) (+0.61%)

Silver: $US15.31 (+0.83%)

Oil (WTI): -$US51.02 (-8.05%)

Oil (Brent): $US25.89 (+0.93%)

Coal: $US58.33 (-0.07%)

Iron 62pc Fe: $US84.17 (+0.15%)

AUD/USD: $US0.6337 (-0.46%)

Bitcoin: $US6,870.07 (-4.05%)

No, the WTI figure is not a typographical error. WTI futures have fallen into negative territory for the first time ever. Essentially it means owners were that desperate to part with futures not only would they accept zero pay but were willing to pay the buyer for them.

While there were no new developments in the oil markets overnight, futures contracts for May expire today (US time) leading to investors shifting to contracts in future months, which remained stable.

 

What got you talking yesterday

One of this year’s exploration success stories was Chalice Gold Mines’ (ASX:CHN) nickel discovery in Western Australia, which has been compared to Sirius Resources’ legendary Nova discovery.

Since then two other explorers have followed Chalice into the region and yesterday a third, DevEx Resources (ASX:DEV), joined them.

To keep up to date with Stockhead coverage, follow our Twitter page or sign up to our members-only Facebook group here.

These were the most tipped stocks (weekly) on Stocks in Play:

Yesterday’s winners

Code Company Price % Change Market Cap Volume
RLG Roolife Group Ltd 0.039 178.57% $13.6M 72.80M
XPE XPED 0.002 100.00% $1.8M 21.72M
GBR Great Boulder Resources Ltd 0.049 68.97% $6.3M 774.47K
COY Coppermoly Ltd 0.008 60.00% $17.0M 553.34K
TMR Tempus Resources 0.19 52.00% $8.1M 2.72M
ARO Astro Resources NL 0.003 50.00% $3.8M 400.00K
CYQ Cycliq 0.002 100.00% $1.9M 30.52M
SMI Santana Minerals Ltd 0.003 50.00% $8.1M 1.00M
OAR Oakdale Resources Ltd 0.003 25.00% $1.9M 1.15M
RFN Reffind Ltd 0.002 50.00% $1.0M 751.88K
CFE Cape Lambert Resources 0.002 50.00% $2.5M 770.00K
TPD Talon Petroleum Ltd 0.002 50.00% $1.8M 2.50M
TSO Tesoro Resources 0.094 42.42% $32.6M 32.56M
MTH Mithril Resources 0.007 40.00% $2.9M 5.18M
DAF Discovery Africa Ltd 0.014 40.00% $1.8M 400.00K
VRC Volt Resources 0.007 40.00% $8.7M 9.96M
MYQ MyFiziq Ltd 0.16 39.13% $12.5M 1.05M
AEV Avenira 0.011 37.50% $4.9M 1.49M
TAO Tao Commodities 0.054 35.00% $1.7M 102.91K
SE1 Sensera 0.013 35.00% $4.2M 10.29M

 

Yesterday’s losers

Code Company Price % Change Market Cap Volume
DDD 333D 0.001 -50.00% $2.1M 2.41M
SP3 Spectur 0.054 -32.50% $4.1M 1.22M
CM8 Crowd Mobile 0.021 -27.59% $6.2M 14.06M
GBE Globe Metals & Mining 0.011 -26.67% $5.1M 5.00K
LPD Lepidico 0.009 -25.00% $41.7M 18.35M
AL3 Aml3d 0.15 -25.00% $10.3M 10.31M
WRM White Rock Minerals Ltd 0.003 -25.00% $5.6M 10.00M
HCD Hydrocarbon Dynamics 0.015 -25.00% $4.2M 679.17K
CTO Citigold Corporation 0.003 -25.00% $7.3M 1.05M
RMX Red Mountain Mining 0.003 -25.00% $2.6M 19.53K
SGI Stealth Global 0.06 -25.00% $7.4M 127.74K
CUX Crossland Strategic Metals 0.003 -25.00% $3.0M 1.14M
LAA Latam Autos Ltd 0.015 -25.00% $8.8M 161.00K
HNG HGL Ltd 0.17 -23.77% $10.6M 11.29K
EAX Energy Action 0.093 -22.50% $2.4M 3.00K
HLX Helix Resources 0.007 -22.22% $3.4M 2.16M
XCD Xcd Energy 0.004 -20.00% $2.8M 10.00K
AAJ Aruma Resources Ltd 0.002 -20.00% $1.4M 184.17K
ADD Adavale Resources Ltd 0.017 -19.05% $2.9M 1.84M
MGU Magnum Mining and Exploration Ltd 0.04 -18.37% $14.9M 100.00K
FNT Frontier Resources Ltd 0.009 -18.18% $4.4M 19.60M