Rise and Shine: What you need to know before the ASX opens
Link copied to
The All Ordinaries index carried on its gentle downward journey since Monday’s recent peak of 7,065 points and closed at 6,947 points Wednesday, down 0.7 per cent on day.
The Australian dollar was trading at 77 US cents mid-week, and is down 2 cents from mid-February, when it nearly hit its January 2018 high of 81 US cents.
A slippage in Chinese iron ore futures prices to a one-month low of $US158.40 per tonne was enough to trigger some profit-taking in certain iron ore stocks.
Iron ore futures prices soon overcame their jitters later in the day and were trading at $US165 per tonne for May settlement.
Eyes will be on whether US stocks can maintain their stellar performance of Tuesday when the Nasdaq index soared by nearly 4 per cent, and Tesla rose nearly 20 per cent on day.
The following companies are in trading halts and are expected to exit over the next two trading days:
Golden Mile Resources (ASX:G88) – capital raising
Carnavale Resources (ASX:CAV) – capital raising
IODM (ASX:IOD) – Western Union partnership update
Western Areas (ASX:WSA) – capital raising
Cohiba (ASX:CHK) – exploration results
New Century Resources (ASX:NCZ) – auditor update
Insurance Australia Group (ASX:IAG) – impact of Greensill’s insolvency
Gold: $US1,725.22 ($2,230.90) (+0.57%)
Silver: $US26.17 ($33.83) (+1.07%)
Oil (WTI): $US64.56 (+0.87%)
Oil (Brent): $US68.00 (+0.73%)
Coal: $US82.80 (+1.60%)
Iron 62pc Fe: $US168.44 (+0.01%)
AUD/USD: $US0.7792 (-0.40%)
Bitcoin: $US56,325.00 (+4.20%)
Stockhead readers liked reading about how many American investors look to Elon Musk and his Twitter feed for investment ideas on everything from cryptocurrencies to stocks.
And, with China’s government setting out its plans for the new five years and beyond, Beijing appears to be preparing for another big iron ore and commodities intensive infrastructure spend.
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.