Rise and Shine: What you need to know before the ASX opens
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Firstly, vale to an Australian great, former Labor Prime Minister Bob Hawke. May he rest in peace.
On Stockhead today, FYI’s Roly Hill on HPA demand, disruption, and an industry leading project, how companies perform after they spin-off some of their assets, and the time The Secret Broker shared Alan Bond’s bathtub.
But first, here’s what you need to know about the day ahead.
Not much on the home front today. Australian markets had a good day yesterday, with both the ASX 200 and the ASX small ords up 0.7 per cent.
The country waits with bated breath ahead of tomorrow’s federal election.
No shares come out of escrow today. The following six companies have shares coming out of escrow over the next two business days:
Gold: $US1,286.65 +0.03%
Silver: $US14.53 -0.04%
Oil (Brent): $US72.74 -0.01%
Oil (WTI): $US63.12 +0.4%
Coal: $US83 -2.35%
Iron ore 62pc fe: $US94.82 +1%
AUD/USD: $US0.6888 -0.05%
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Corporate deals in the lithium industry are heating up, wrote resources editor Angie East, generating interest on the Stockhead Facebook chat forum.
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Thursday:
— HotCopper (@HotCopper) May 16, 2019
Andromeda Metals (ASX:AND) rose 43 per cent to 1c after forming a joint venture with Minotaur Exploration (ASX:MEP) to develop intellectual property and investigate commercial applications for halloysite‐kaolin nanotubes from the Poochera Halloysite‐Kaolin project in South Australia.
Revenue and profit growth for the March quarter drove 99 Wuxian (ASX:NNW) shares up 41 per cent to 9.7c. The company told investors about 73 per cent growth in revenue to $7 million, with a 32 per cent boost in gross profit to $6.8 million.
Change Financial (ASX:CCA) shot up 50 per cent to 8.1c today, though it had no news out. It fielded a query from the ASX, with CCA saying it couldn’t pick why shares had risen.
Skydiving operator Experience Co (ASX:EXP) fell 20 per cent to 23.5c after releasing a revenue downgrade, with expectations it will be 4 per cent lower than previously outlined. This has been attributed to less people flying into Cairns to have fun holidays.
BWX (ASX:BWX) shed 15 per cent, down to $1.71, after also releasing a profit downgrade, saying earnings before all the necessary accounting measures would be between $21 million and $23 million. It also announced that David Fenlon had been appointed global CEO.
That’s all you need to know. Have one for Hawkey this weekend.