Rise and Shine: What you need to know before the ASX opens
Here’s what you need to know right now:
Watch for the debut of Mediland Pharm (ASX:MPH), which will list today at 11am. The company operates retail stores for Chinese tourist groups in Australia. It will list at 20 cents per share and have a market cap of just over $62 million.
Our politicians will be busy today. The House of Representatives Standing Committee on Economics will hear Reserve Bank Governor Phillip Lowe give his semi-annual testimony to our politicians in Sydney at 9.30am.
The Senate Economics Reference Committee will release a report into the buy-now, pay later sector. Whatever the outcome, this will not be the end of the matter, as ASIC have promised to continue investigating.
Since Wednesday, names in the sector have experienced volatility. Afterpay (ASX: APT) has fallen by 11 per cent, recent ASX star debutant Splitit (ASX: SPT) by nearly 3 per cent — having fallen 25 per cent from its all time high on February 7 — and Zip Co (ASX: Z1P) is up by over 1 per cent after a volatile couple of days.
Several Companies are due to come out of a trading halt due to a capital raising including P2P Transport (ASX: P2P), Bellevue Gold (ASX: BGL), Tilt Renewables (ASX:TLT) and Millennium Minerals (ASX:MOY), while Pure Minerals (ASX:PM1) is due out having finalised an acquisition.
Oil (Brent):$US67.03 -0.25%
Oil (WTI):$US56.82 -0.09%
Iron ore 62% fe:$US86.99 -1.66%
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Of interest over on the Stockhead ASX Small Cap and Micro Cap Chat Facebook forum was senior journalist Rachel Williamson’s article about millennial investors.
Member Kay F Lim said: “this is what happens when there is a perception that war is merely a thing of the past – enough men turn into complete gonads that you simply want to spew up….”
Interesting! Join the fun here.
On stock gossip day trading forum HotCopper, these were the most-discussed stocks at close on Thursday:
— HotCopper (@HotCopper) February 21, 2019
The two biggest winners yesterday were Namibian explorer Sabre Resources (ASX: SBR) and Shareroot (ASX: SRO) that both rose 50 per cent, to 1 cent.
Hot Chilli (ASX: HCH) finished yesterday up 35 per cent after announcing it had finalised the purchase of the Cortadera copper-gold deposit from a private Chilean mining group.
Mount Ridley Mines (ASX: MRD) was the biggest loser yesterday, halving in value despite no news. Perpetual Resources (ASX: PEC) and Magnetite Mines (ASX: MGT) fell as well on the back of no news.
Xped (ASX: XPD) continued its volatile week falling 25 per cent.
That’s all you need to know. Hop to it!
— with Nick Sundich