Rise and Shine: What you need to know before the ASX opens
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Coming up on Stockhead today, the part of Africa that’s ‘like WA 50 years ago’, who became a substantial holder, and all the news in cannabis stocks you can put in a pipe and smoke.
But first, here’s what you need to know right now:
Not much today, although the budget analysis will roll on, and we are getting every closer to an announcement of an election date.
The Australian Industry Group and Housing Industry Association will release construction data.
No shares being released from escrow today.
Three companies have to come out of a trading halt tomorrow or put themselves in voluntary suspension:
And the following five companies are due out of a trading halt some time in the next 48 hours:
Gold: $US1287.97 ($1,810.54) +0.24%
Silver: $US15.09 +0.13%
Oil (Brent): $US69.46 -0.05%
Oil (WTI): $US62.29 -0.32%
Coal: $US79.00 -3.54%
Iron ore 62% fe: $US89.50 +2.26%
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Resources editor Angie East had a budget backlash yarn, exploring the pain points of Tuesday night’s federal budget, which created interest on the Stockhead Facebook chat forum.
Member Mel Culley pointed out the difference in tax paid between some of Australia’s biggest companies with the average Australian worker. We’re sure you can guess who paid more, but jump on the forum if you can’t.
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Wednesday:
— HotCopper (@HotCopper) April 3, 2019
News that Florida’s Department of Education had approved KNeoMedia’s (ASX:KNM) KneoWorld as a partner product sent the tech company’s shares up 56 per cent to 3c at close.
KNeoMedia chief James Kellett told investors this access to funding had previously roadblocked the company from significant expansion.
Matador Mining (ASX:MZZ) raised $5 million to be used in the upcoming exploration season, as well as announcing that it would acquire a 100 per cent stake in the Cape Gray gold project.
That pushed shares up 39 per cent to 26.5c.
The day’s biggest winner, RMG (ASX:RMG), rose 86 per cent to 1.3c on no news.
There was little movement on company news yesterday, with all the biggest falls occurring at the very small end of the market.
That’s all you need to know. Go go go!