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Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, will the US spending spree on semiconductor stocks spread to the ASX, is China about to shut the door on rare earths, and The Secret Broker is back with a lesson on shorting.
But first, here’s what you need to know before markets open.
The day ahead in data
The Reserve Bank will release monthly data on private sector credit at 11:30am. It follows April data which showed growth in housing credit rose at the slowest pace on record.
Later tonight, key data abroad will be led by personal income & expenditure (PCE) data for April out of the US, which includes the PCE inflation reading — the preferred inflation measure of the US Fed. Markets are forecasting a monthly increase of 0.2 per cent after the reading went flat in March.
Company news
There are 12 companies which are expected to come out of a trading halt or voluntary suspension in the next 48 hours:
Friday:
Coppermoly (ASX: COY) – capital raising
Ava Risk Group (ASX: AVA) – capital raising
First Graphene (ASX: FGR) – NICNAS application
Warrego Energy (ASX: WGO) – capital raising
Monday:
Aurora Minerals (ASX: ARM) – capital raising
Pensana Metals (ASX: PM8) – capital raising
Infinity Lithium (ASX: INF) – operations update
Metminco (ASX: MNC) – capital raising
ALT Resources (ASX: ARS) – capital raising
Gascoyne Resources (ASX: GCY) – production update
Impression Healthcare (ASX: IHL) – ‘significant development’
Jayex Healthcare (ASX: JHL) – addressing price query
Commodities
Gold: $US1286.54 ($1,861.41) +0.74%
Silver: $US14.53 +0.74%
Oil (Brent): $US66.34 -4.28%
Oil (WTI): $US56.52 -4.01%
Coal: $US77.80 -1.27%
Iron ore 62pc fe: $US103.87 -2.2%
AUD/USD: $US0.6912
What got you talking yesterday
It was a quiet one yesterday on the Stockhead Facebook forum, but earlier in the week there were more questions than answers among group members on the subject of the recent share price slide for Titomic Ltd (ASX: TTT).
“Thoughts on Titomic after their recent Boeing announcement?”, Evan Turner asked.
“I don’t know why TTT price has decreased about 15% in the past week,” Adrian Macchiavelli said. “Agree, can’t see a real reason for it…”, Turner responded.
Elsewhere, these were the five most-discussed stocks on trading gossip forum HotCopper at close on Thursday:
Close Top 5 #MostDiscussedStocks: $GXY $AVZ $KTD $LYC $EM1 #asx #ausbiz https://t.co/xOFzWmkzay
— HotCopper (@HotCopper) May 30, 2019
Yesterday’s winners
Among the winners, CAQ Holdings held its gains from midday trade to best the best performer on the day, posting a gain of 75 per cent to close at four cents.
The surge followed a joint venture announcement by CAQ to “develop a cross-border e-commerce business in China”.
| Ticker | Name | Price ($) | % Chg | Market cap |
|---|---|---|---|---|
| CAQ | CAQ Holdings Ltd | 0.04 | 75% | $25.1M |
| KLH | Kalia Ltd | 0.0015 | 50% | $3.8M |
| EM1 | Emerge Gaming Ltd | 0.03 | 42% | $17.7M |
| JJF | Jiajiafu Modern Agriculture Lt | 0.05 | 36% | $4.2M |
| BLY | Boart Longyear Ltd | 0.004 | 33% | $105.2M |
| CAD | Caeneus Minerals Ltd | 0.002 | 33% | $4.3M |
| GBZ | GBM Resources Ltd | 0.004 | 33% | $4.4M |
| MLS | Metals Australia Ltd | 0.004 | 33% | $5.4M |
| ORM | Orion Metals Ltd | 0.008 | 33% | $3.8M |
| SMI | Santana Minerals Ltd | 0.004 | 33% | $2.7M |
| JHL | Jayex Healthcare Ltd | 0.05 | 32% | $8.4M |
| KTD | Keytone Dairy Corp Ltd | 0.6 | 25% | $90.0M |
| ODM | Odin Metals Ltd | 0.15 | 25% | $23.1M |
| DEM | De.Mem Ltd | 0.12 | 25% | $14.9M |
| ANL | Amani Gold Ltd | 0.0025 | 25% | $9.2M |
| COY | Coppermoly Ltd | 0.01 | 25% | $17.2M |
| CTO | Citigold Corp Ltd | 0.005 | 25% | $10.8M |
| PCL | Pancontinental Oil & Gas NL | 0.005 | 25% | $13.5M |
| SBR | Sabre Resources Ltd | 0.005 | 25% | $2.0M |
| EOS | Electro Optic Systems Holdings | 4 | 23% | $384.4M |
| GCR | Golden Cross Resources Ltd | 0.02 | 21% | $2.3M |
| PCK | Painchek Ltd | 0.15 | 20% | $131.0M |
Yesterday’s losers
No less than five resources and energy minnows trading below the 1 cent mark all lost a third of their value, as part of the usual price fluctuations at the less liquid end of the market.
One such company with a market update was Xstate Resources (ASX: XST), which fell 33.33 per cent to 0.2 cents per share after releasing a presentation from its annual general meeting.
| Ticker | Company | Price ($) | % Chg | Market cap |
|---|---|---|---|---|
| XST | XState Resources Ltd | 0.002 | -33.33% | $2.3M |
| NSE | New Standard Energy Ltd | 0.004 | -33.33% | $3.3M |
| LCY | Legacy Iron Ore Ltd | 0.002 | -33.33% | $2.9M |
| DDD | 3D Resources Ltd | 0.001 | -33.33% | $1.1M |
| CZN | Corazon Mining Ltd | 0.002 | -33.33% | $2.8M |
| ATL | Apollo Tourism & Leisure Ltd | 0.41 | -32.79% | $76.3M |
| SYT | Syntonic Ltd | 0.003 | -25.00% | $9.8M |
| GES | Genesis Resources Ltd | 0.006 | -25.00% | $4.7M |
| NMS | Neptune Marine Services Ltd | 0.2 | -20.00% | $12.3M |
| BNO | Bionomics Ltd | 0.1 | -20.00% | $54.5M |
| AXT | Argo Exploration Ltd | 0.012 | -20.00% | $2.2M |
| SRN | Surefire Resources NL | 0.004 | -20.00% | $2.0M |
| QGL | Quantum Graphite Ltd | 0.002 | -20.00% | $15.1M |
| MDX | Mindax Ltd | 0.004 | -20.00% | $3.7M |
| KGM | KalNorth Gold Mines Ltd | 0.004 | -20.00% | $3.6M |
| HGM | High Grade Metals Ltd | 0.004 | -20.00% | $1.8M |
| E2E | Eon NRG Ltd | 0.004 | -20.00% | $3.1M |
| ALT | Analytica Ltd | 0.004 | -20.00% | $13.3M |
