Rise and Shine: What you need to know before the ASX opens

On Stockhead today, the top ASX ETF that’s up 181 per cent, lithium demand is getting squeezed and why do iron ore ports keep catching fire?

But first..
 

To Markets

Markets in the US were slightly down, as investors were apparently still digesting exactly what the fallout from the Archegos disaster will be.

Here’s an idea of where it stands in history’s largest losses:

Winners: Morgan Stanley. It says it sold about $US5 billion in Archegos’ stocks just days before the fire sale began.

Here in Oz, the ASX picked up where it left off before the Easter break with another day of gains.

The ASX 200 rose 0.84 per cent to 6,886 points and the ASX Emerging Companies Index rose 1.17 per cent, closing at 2,036 points.

Utilities and energy were the only sectors in the red and they fell 0.2 per cent and 0.06 per cent respectively.

The top gainers were tech and industrials, which gained over 5 per cent and over 2.3 per cent respectively.

And North Korea became the first country to pull out of the Tokyo Olympics, due to “Covid fears”. (Although it hasn’t told Japan yet.)

The day ahead

Today look out for the listing of gold-copper explorer TechGen Metals (ASX:TG1) which is hitting the bourse today at 11am.

Today’s potentially market-moving economic data includes the AIG construction Index – to be released at 8.30am – and the Performance Services Index, which is out at 9am.

TRADING HALTS

Today

Environmental Clean Technologies (ASX:ECT) – capital raising
Silver City Minerals (ASX:SCI) – capital raising
The GO2 People (ASX:GO2) – acquisition
Los Cerros (ASX:LCL) – assay results

Thursday

PharmAust (ASX:PAA) – clinical trial results
Emperor Energy (ASX:EMP) – data acquisition
Candy Club (ASX:CLB) – investment into the company
Aston Minerals (ASX:ASO) – exploration results
Ionic Rare Earths (ASX:IXR) – MOU with rare earth company
Warrego Energy (ASX:WGO) – drilling results
Tubi (ASX:2BE) – reconstruction of company strategy
Theta Gold Mines (ASX:TGM) – maiden underground mining reserve
FYI Resources (ASX:FYI) – DFS update
Strickland Metals (ASX:STK) – capital raising
Strike Energy (ASX:STX) – drilling results
Drednought Resources (ASX:DRE) – earn in joint venture agreement
 

MARKETS

Gold: $US1,743.35 ($2,274.43) (+0.86%)

Silver: $US25.15 ($32.81) (+1.00%)

Oil (WTI): $US59.19 (+0.92%)

Oil (Brent): $US62.59 (+0.80%)

Coal: $US91.00 (-1.57%)

Iron 62pc Fe: $US166.98 (+1.89%)

AUD/USD: $US0.7662 (+0.13%)

Bitcoin: $US58,135.20 (-1.13%)

What got you talking Tuesday

Guy le Page + BTC claim = clicks. Former geologist and experienced stockbroker Guy Le Page is one of our most followed expert for views on, well, rocks. But throw in a casual opening monologue about how “Bitcoin algorithms may constitute acts of domestic terrorism” and the fuse was lit“.

Reuben Adams caught some eyes with his daily morning roundup of resources announcements, which yesterday focused on the persistent swirl up in the urananium market.

Yesterday saw the biggest IPO of 2021 to date in Florist company Lynch (ASX:LGL), which fell approximately 10 per cent on its opening day.

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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.

Tuesday’s winners

Stocks highlighted in yellow rose (or fell) after making announcements during intraday trade.

WINNERS

Scroll or swipe to reveal table. Click headings to sort.

Small cap oil and gas plays were the standouts yesterday, with both good and bad results.

Topping the winner’s list was Oilex (ASX:OEX), which quadrupled in value to 1.2c after a long-awaited deal to acquire the 55 per cent stake in Cambay oilfield (situated in the Indian state of Gujarat) that it doesn’t already own got over the line, for a purchase price of $US2.2m.

Also near the front of the pack among company’s with announcements was Fremont Petroleum (ASX:FPL), which rose on the back of a new staff hire after announcing that oil and gas executive Simon Johnson has been appointed as Non-Executive Chairman. Johnson’s career experience includes senior positions at a number of NYSE-listed drilling contractors.

LOSERS