Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, why WA won’t lure any east coast gas users across the Nullarbor any time soon, what stocks the big small cap fund managers are holding, and would you buy an electric Aussie ute called The Yewt?
But first, here’s what you need to know before markets open.
The quiet week on the Australian data calendar continues today, with no major releases or events on the schedule.
Looking abroad, there’s some central bank activity starting with the Reserve Bank of New Zealand’s financial stability report (released every six months).
Later in the session the Bank of Canada will announce its monetary policy decision, with rates expected to stay on hold at 1.75 per cent.
The following nine companies should come out of a trading halt or voluntary suspension in the next 48 hours:
Greenpower Energy (ASX: GPP) – addressing SPP shortfall
CropLogic (ASX: CLI) – capital raising
Cape Lambert Resources (ASX: CFE) – capital raising
AHAlife (ASX: AHL) – capital raising.
Superior Resources (ASX: SPQ) – JV finalisation
Caeneus Minerals (ASX: CAD) – ASX query response & capital raising
Carnavale Resources (ASX: CAV) – capital raising
Strike Energy (ASX: STX) – capital raising
Orthocell (ASX: OCC) – capital raising.
Gold: $US1,280.75 ($1,850.17) -0.37%
Silver: $US14.36 -1.58%
Oil (Brent): $US70.00 -0.07%
Oil (WTI): $US58.93 -0.29%
Coal: $US80.90 -1.46%
Iron ore 62pc fe: $US106.11 -2.3%
Over on the Stockhead Facebook chat forum, there was some discussion among users after group member Dariush Saba asked for people’s opinion on fintech Zip Co (ASX: Z1P) and aerial mapping company Nearmap (ASX: NEA).
“I don’t rate it — all hype,” user Sledge AU said on the topic of Z1P. “Sell and realise a profit; buy back when the price is low again and go for a second round.”
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Tuesday:
— HotCopper (@HotCopper) May 28, 2019
It was a strong session for HR software company intelliHR (ASX:IHR), which posted an intra-day gain of 34.15 per cent to close at 11 cents.
It followed an announcement that the company had signed a mutual revenue share agreement with Greenhouse, a US-based software company.
And Biotech Invion (ASX:IVX) rose as much as 57 per cent in morning trade before closing 28.57 per cent higher, after announcing that clinical trials on mice showed its cancer-fighting laser drug is picked up by floating tumour cells, and not the rest of the body.
Leading yesterday’s losers was Nucoal (ASX: NCR), which slumped by almost 30 per cent to 2 cents.
Based on its most recent market announcement on May 8, the company is still hopeful it will receive compensation for its Doyles Creek mining licence, which was cancelled by the NSW government in 2014.