Rise and Shine: What you need to know before the ASX opens
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The All Ordinaries index of ASX shares had a weak finish to the trading week, closing Friday at 7,081 points, and down 0.5 per cent for the day.
Many markets in Asia were closed for the Lunar New Year or Spring festival holiday that carries on into the week of February 15.
Oil prices rebounded over the week to reach $US58.25 per barrel, a rise of 20 per cent since January 1.
Leading cryptocurrency Bitcoin blazed a trail last week, with its Australian dollar price surging past $60,000 for the first time.
Cryptocurrency analysts suggest the digital currency is headed higher as more and more companies climb on board and allow payment in cryptocurrency.
“Major payments provider Mastercard announced it will support digital assets directly via its own network, signalling yet another milestone for the industry,” eToro crypto market expert Simon Peters said.
“Bitcoin and its peers are, quite simply, going to be part of the mainstream financial universe sooner rather than later,” he said.
And added: “I expect demand to surge and see Bitcoin prices hitting at least $70,000 by the end of this year.”
The following companies are in trading halts and are expected to exit over the next two trading days:
EMU (ASX:EMU) – capital raising
Tali Digital (ASX:TD1) – capital raising
Xplore Wealth (ASX:XPL) – shareholder meeting
Northern Minerals (ASX:NTU) – capital raising
Incannex Healthcare (ASX:IHL) – pre-clinical results
Gold: $US1,823.79 ($2,352.56) (-1.00%)
Silver: $US26.99 ($34.82) (0.00%)
Oil (WTI): $US57.91 (-1.31%)
Oil (Brent): $US60.82 (-1.06%)
Coal: $US81.50 (-0.49%)
Iron 62pc Fe: $US160.08 (+0.21%)
AUD/USD: $US0.7752 (+0.40%)
Bitcoin: $US48,204.31 (+7.07%)
Another story that caught readers’ interest was Reuben Adams’ story on how to build your own portfolio of ASX lithium stocks.
Also, be sure to check in at 10.20am each day for our daily 10 at 10 column — a live summary of winners & losers at the opening bell.