Rise and Shine: What you need to know before the ASX opens
On Stockhead today, an expert’s view on what’s caused the new Bitcoin boom, Australian exploration is getting its mojo back, and the $350 watch that will keep your Rolex desires at bay.
But first, here’s what you need to know about the day ahead.
Westpac’s consumer confidence report for May is out today, while the Australian Bureau of Statistics also releases quarterly and yearly wage price index figures.
Cryptocurrencies seem to be back in vogue, with Bitcoin buying $US8,111, another new high — the biggest since July last year.
The major US markets took a tumble yesterday, as did both the ASX200 and the ASX small ords.
No companies have shares due out of escrow today, though the following 14 companies are due out of a trading halt in the next 48 hours:
Gold: $US1,296.98 ($1,867.78) -0.24%
Silver: $US14.76 +0.01%
Oil (Brent): $US70.98 +0.87%
Oil (WTI): $US61.25 +0.49%
Coal: $US85.75 -1.21%
Iron ore 62pc fe: $US94.38 -0.74%
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These were the five most-discussed stocks on trading gossip forum HotCopper at close on Tuesday:
— HotCopper (@HotCopper) May 14, 2019
Greenpower Energy (ASX:GPP) came out of a trading halt and closed up 50 per cent to 0.3c, thanks to an option agreement with Q-Generate to acquire the former producing gold mines of Camel Creek, Golden Cup and Big Rush in Northern Queensland, last operated in the 90s.
Race Oncology (ASX:RAC) was up 46 per cent to 8.3c after confirming it would conduct a Phase II trial of its drug Bisantrene in patients with relapsed/refractory acute myelogenous leukemia in Israel.
Bisantrene is an old chemotherapy drug that Race is repurposing.
And Fe Limited (ASX:FEL) closed up 31 per cent to 1.7c after securing an exclusive option to earn-in to 75 per cent interest in lithium and gold tenements located in the Pilbara region of Western Australia.
There were no major small cap losers on bad news today, though Mayne Pharma (ASX:MYX) has dropped into mid cap territory after reporting weak sales for the four months to April. Shares in the company fell 15 per cent, pushing the previously 10-figure market cap to less than $900 million.
That’s all you need to know. Send it home, Happy.