Rise and Shine: What you need to know before the ASX opens
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But first, here’s what you need to know about the week ahead.
There’s bugger all on the domestic front today, though – as always, eyes are on the ‘trade war’ between China and the US. Global stock markets were depressed after Trump’s threats to impose new tariffs on Chinese exports, with China saying it would retaliate if that happened.
The impact was initially felt less at home thanks to positive share price movement from BHP, Rio and Fortescue, though those companies all experienced falls on Wednesday.
Euro Manganese (ASX:EMN) has 1.5 million shares out of escrow today.
The following 10 companies have shares due out of a trading halt in the next 48 hours:
Gold: $US1279.73 ($1,831.23) -0.28%
Silver: $US14.84 -0.51%
Oil (Brent): $US70.27 +0.49%
Oil (WTI): $US61.84 +0.94%
Coal: $US88.95 +1.08%
Iron ore 62pc fe: $US94.75 +1.33%
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Member Todd Thurkettle: “Good signs for the next nine years.”
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Wednesday:
— HotCopper (@HotCopper) May 8, 2019
They must have been crying tears of joy at Orthocell (ASX:OCC). Shares rose an unbelievable 377 per cent yesterday, to 52c, after the company revealed that its CelGro technology was helping patients who’d suffered severe nerve damage regain sensation and function.
In a statement that might bring to mind memories of Moira such is its tone, patient Daniel Hunt said it had changed his life:
“After my football injury, I had no feeling in my right shoulder. I couldn’t pick up my kids, swim, or play football.
“When Dr O’Beirne said that being in the CelGro study might improve outcomes, I thought it would be worth trying.
“I’m living a normal life now. I can pick up my kids and I even swam a duo to Rottnest! I might even be able to play footy again next year-something that I thought would never happen.”
Give that man a set of steak knives.
Flexigroup (ASX:FXL) shares gained 24 per cent to $1.68 after telling investors a whole host of big retailers have joined its buy-now-pay-later (BNPL) platform.
Of most interest to Stockhead this morning was its claim to be the inventor of BNPL. A spokesman for the company says it started a white labelled BNPL service about 20 years ago (what we’d know as layby), and consumer-oriented (albeit sold via retailers) services since 2000.
In investors’ bad books was YPB (ASX:YPB), which had to explain its role in an increasingly confusing crypto deal that involved First Growth Funds (ASX:FGF), DigitalX (ASX:DCC), and Blockchain Global. Shares dropped 33 per cent to 0.6c.
The ‘token sale event’ was launched at the height of the crypto craze in December 2017, and the ASX is now trying to ascertain what money has changed hands, who is still participating in this deal and what everyone has actually done. And whether YPB ever saw any of a whopping $30m they’d speculated the token sale might raise.
That’s all you need to know. Have a beautiful day, don’t let it get away.