Rise and Shine: What you need to know before the ASX opens
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Australian stock indexes experienced a torrid end to the week with the blue chip ASX 200 closing Friday at 6,790 points, down 1.3 per cent for the day.
The broader All Ordinaries index had a similar performance, dipping 1.3 per cent to 7,060 points, after getting as high as 7,190 points mid-week.
BNPL sector darling Afterpay (ASX:APT) rose nearly 2 per cent Friday to $152.80 per share and is up 1,600 per cent since its March 2020 low.
This is despite the iron ore spot price bouncing to $US175 per tonne as Chinese steel mills returned to work after the Lunar New Year holidays.
Analysts are pointing with concern to the level of US 10-year bond yields, now trading at a one-year high of 1.29 per cent.
Higher yields make bonds more attractive to investors and can attract cash from equity markets.
The following companies are in trading halts and are expected to exit over the next two trading days:
KGL Resources (ASX:KGL) – capital raising
Tamaska Oil & Gas (ASX:TMK) – acquisition
Cirralto (ASX:CRO) – capital raising
Indiana Resources (ASX:IDA) – assay results
Hastings Technology Metals (ASX:HAS) – capital raising
Eagle Mountain Mining (ASX:EM2) – capital raising
Gold: $US1,784.39 ($2,266.01) (+0.50%)
Silver: $US27.27 ($34.63) (+0.93%)
Oil (WTI): $US58.95 (-2.50%)
Oil (Brent): $US62.66 (-1.99%)
Coal: $US77.50 (+2.31%)
Iron 62pc Fe: $US164.07 (-0.32%)
AUD/USD: $US0.7870 (+0.06%)
Bitcoin: $US58,128.44 (+2.05%)
Stockhead readers enjoyed discussing biopharma company MGC Pharmaceuticals’ (ASX:MXC) expansion with a new distribution deal for its anti-inflammatory medicine.
Another story that tickled Stockhead readers was the various ways crypto investors celebrated their investment gains after prices of Bitcoin and other digital coins surged this week.
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.