Rise and Shine: What you need to know before the ASX opens
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This week’s potentially market-moving economic data is headlined by the December quarter’s GDP which is due at 11.30am on Wednesday.
Also the RBA will meet on Tuesday and while there is little room to cut interest rates further, it is expected to clarify its next move in its quantitative easing program.
In IPOs this week, additive manufacturer 3D Metalforge (ASX:3MF) is listing on Tuesday at 12pm (AEDT) and expected to list on Friday is online food delivery business My Food Bag Group (ASX:MFB).
The following companies are in trading halts and are expected to exit over the next two trading days:
Enterprise Metals (ASX:ENT) – price query
Arrow Minerals (ASX:AMD) – joint venture formation
Roto-Gro (ASX:RGI) – query
Tombador Iron (ASX:TI1) – capital raising
Black Cat Syndicate (ASX:BC8) – milling facility acquisition
Redstone Resources (ASX:RDS) – capital raising
Avita Medical (ASX:AVH) – US capital raising
Afterpay (ASX:APT) – capital raising
Novonix (ASX:NVX) – capital raising
Australian Potash (ASX:APC) – debt funding
Micro-X (ASX:MX1) – Medical Research Future Fund application
Australian Strategic Materials (ASX:ASM) – scoping study
EMVision Medical Devices (ASX:EMV) – funding application
Mesoblast (ASX:MSB) – capital raising
Anax Metals (ASX:ANX) – capital raising
AppsVillage (ASX:APV) – capital raising
Neurotech (ASX:NTI) – financing
4D Medical (ASX:4DX) – grant application
Palla Pharma (ASX:PAL) – capital raising
Gold: $US1,734.39 ($2,250.05) (-2.01%)
Silver: $US26.66 ($34.59) (-2.69%)
Oil (WTI): $US61.50 (-3.20%)
Oil (Brent): $US64.42 (-2.56%)
Coal: $US81.00 (+1.76%)
Iron 62pc Fe: $US165.61 (+0.36%)
AUD/USD: $US0.7706 (+0.02%)
Bitcoin: $US44,371.41 (-6.28%)
But copper was hot for the entire week after a JP Morgan report tipped that this is the start of a 10-year super cycle.
o Copper miners $AIS $SFR $OZL enjoy massive profits as red metal nears 10-yr high
o This is the start of a 10 year copper supercycle, JP Morgan says
o Here’s six project developers hoping to take advantage: $VXR $ORN $CVV $HAV $HGO $KGL. #ASX #ausbiz
— Stockhead (@StockheadAU) February 24, 2021
Our most popular podcast last week was the Rock Yarns Podcast in which Peter Strachan spoke to Chris Lewis – CEO of Ansila Energy (ASX:ANA).
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.