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 before markets open.
On the local front, there’s finally some key data on the schedule after what has been a very quiet week for domestic markets.
The ABS will release private sector capital expenditure figures for the March quarter, along with building approvals data for April.
Building approvals will get some attention amid the ongoing slowdown in residential construction, while markets will be focused on the latest 2019/20 growth estimates for the domestic capex pipeline.
Looking abroad, the US will have the third estimate of Q1 GDP figures and monthly data for initial jobless claims and pending home sales.
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: $US1,279.95 ($1,850.16) +0.06%
Silver: $US14.45 +0.59%%
Oil (Brent): $US69.61 -0.71%
Oil (WTI): $US59.10 -0.10%
Coal: $US78.80 -2.60%
Iron ore 62pc fe: $US103.50 -2.5%
Group member Eric Frei was less than impressed with Artemis Resources (ASX:ARV) following an update on the company’s conglomerate gold project in the Pilbara yesterday. Here’s what he had to say about ARV’s share price graph on the Stockhead Facebook forum:
That graph sums up what ARV’s stench is! Why did they 80 percent complete Radio Hill then blow all the dough elsewhere?
They made $20 million selling NOVO shares then failed to finish Radio Hill, cutting off their possible revenue stream. Were they every presented with a 249D or did some-one resign? Did they have to cap raise then?
I keep barge pole distance from this lot personally until they get cash flow positive.
That’s the spirit, Eric.
And these were the five most-discussed stocks on trading gossip forum HotCopper at close on Wednesday:
— HotCopper (@HotCopper) May 29, 2019
Data analytics company Invigor Group Ltd (ASX: IVO) held its gains from morning trade, closing 100 per cent higher after announcing a new acquisition.
The company said its purchase of the Sun Asia Group will “significantly grow its revenue and strengthen its Asian-focused e-commerce operations”.
Meanwhile, what began as a rough day ended up staying that way for Argonaut Resources (ASX: ARE), which closed more than 50 per cent lower after announcing that the drilling program at its Torrens lithium project in South Australia had been stopped prior to completion.