Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, May’s top 50 small cap miners and explorers, how being led by women can benefit uranium miners, and there’s a business in selling mice to labs – for $1400 each.
But first, here’s what you need to know before markets open.
It’s the start of a new month, and there’s a deluge of key data updates for the Australian market throughout the week.
All eyes will be on the RBA on Tuesday, with the central bank almost universally expected to cut interest rates — its first policy move in almost three years.
Also on Tuesday there’s retail sales data — an important measure of economic health — for the month of April. Prior to that, CoreLogic will release May house price data on Monday morning, and there’s a series of key data inputs on Monday and Tuesday ahead of March quarter GDP figures on Wednesday.
The national accounts are expected to show the Australian economy remained sluggish in Q1, with a median forecast of just 1.8 per cent annual growth.
Rounding out a huge week, there’s also April trade data on Thursday and housing finance figures on Friday, along with a raft of May PMIs both locally and abroad.
Internationally, US Fed Chair Jerome Powell will give a speech on the bank’s policy strategy on Tuesday night, while all-important US employment figures are scheduled for Friday after Asian markets close.
The following companies are scheduled to come out of a trading halt or voluntary suspension over the next 48 hours:
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.
Evolve Education (ASX: EVO) – outcome of rights issue
Resource Generation (ASX: RES) – achievement of milestone for project funding
Deep Yellow (ASX: DYL) – capital raising
Predictive Discovery (ASX: PDI) – exploration results
Caravel Minerals (ASX: CVV) – response to ASX queries
Krakatoa Resources (ASX: KTA) – capital raising
Gold: $US1,305.25 ($1,883.53) +1.30%
Silver: $US14.57 +0.38%
Oil (Brent): $US64.49 -3.56%
Oil (WTI): $US53.50 -5.46%
Iron ore 62pc fe: $US101.6 -2.2%
AUD/USD: $US0.6929 -0.13%
There was plenty of banter to go around on the Stockhead Facebook forum, with users weighing in on everything from 3D printing companies to gold miners to the importance of nickel in the global electric battery market.
“Nickel 80 percent cobalt 10 percent manganese 10 percent, these are the latest numbers given by the battery makers. The likes of BHP Nickel West are on a big exploration drive, and ‘may’ also pick up the minor companies, Mincor are already in the net,” group member Mel Culley said on Friday.
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Friday:
— HotCopper (@HotCopper) May 31, 2019
Data analytics company Invigor Group Ltd (ASX: IVO) closed 100 per cent higher to 0.6c this week after announcing a new acquisition, part of the company’s increased focus on the Chinese market.
The company said its purchase of the Sun Asia Group will “significantly grow its revenue and strengthen its Asian-focused e-commerce operations”.
Here are the best performing ASX small cap stocks for May 27-31:
Lithium explorer Argonaut Resources (ASX:ARE) was the biggest faller, down 60 per cent to half a cent.
The company got into a stoush with Aeris Resources (ASX:AIS), its partner in a drilling program at Argonaut’s Torrens project in South Australia.
Drilling has been suspended at the site, while Aeris released a statement in response to an ARE announcement “strongly disputing” Argonaut’s claims.
Here are the worst performing ASX small cap stocks for May 27-31: