Rise and Shine: What you need to know before the ASX opens
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The All Ordinaries index finished trading Wednesday up 0.8 per cent at 7,067 points, despite Wall Street’s top three share indexes going into the red overnight.
The Australian dollar was trading at 78 cents marking around a three-year high for the local currency against the US dollar.
Credit ratings agency S&P Global Ratings said in a report that Australian business could be left with “lingering scars” from containing the COVID-19 outbreak.
“Financial damage from COVID containment, together with ongoing structural concerns, still weigh on the credit quality of Australian and New Zealand corporates and infrastructure companies,” said S&P Global Ratings credit analyst, Richard Timbs.
The report contrasts with news Wednesday that Australia’s economy grew by 3.1 per cent in the December 2020-ended quarter, marking two consecutive quarters of more than 3 per cent growth, something that has not happened since the 1960s.
The following companies are in trading halts and are expected to exit over the next two trading days:
Hot Chili (ASX:HCH) – exploration results
Genetic Technologies (ASX:GTG) – distribution agreement
Aspermont (ASX:ASP) – capital raising
Ausmex Mining (ASX:AMG) – upgraded resource
Magmatic Resources (ASX:MAG) – capital raising
Thomson Resources (ASX:TMZ) – project acquisition
Gold: $US1,715.56 ($2,201.69) (-1.30%)
Silver: $US26.23 ($33.66) (-1.95%)
Oil (WTI): $US61.32 (+2.63%)
Oil (Brent): $US64.13 (+2.26%)
Coal: $US84.40 (+0.60%)
Iron 62pc Fe: $US174.12 (+0.55%)
AUD/USD: $US0.7792 (-0.40%)
Bitcoin: $US51,053.43 (+7.50%)
Stockhead readers liked Eddy Sunarto’s story on Australia’s record-breaking GDP number for Q4 2020 and the accompanying photo of a surfing kangaroo.
Another popular read was Derek Rose’s story on the almost surreal world of cryptocurrencies which seem to be proliferating like topsy with new tokens appearing all the time.
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.