On Stockhead today, the case for iron ore to fall off a cliff, hot software stock tips, and the small caps investors love to short right now.

But first, here’s what you need to know before markets open.

The day ahead in data

34 months and counting. That’s how long it’s been since the Reserve Bank moved benchmark interest rates from their current setting of 1.5 per cent.

But markets expect that to change today, with the prospect of a 25 basis point cut to 1.25 per cent now fully priced in when the RBA makes its rates announcement at 2:30pm (eastern time).

Before that, there’s a key data update from the ABS with the release of April retail sales figures at 11:30am.

Then later tonight, markets will be watching a speech by US Fed Chair Jerome Powell on the central bank’s policy outlook, amid increasing speculation it may move to lower interest rates later this year.

Company news

The following companies are scheduled to come out of a trading halt or voluntary suspension over the next 48 hours:

Tuesday:

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.

Wednesday:

Volpara Health Technologies (ASX: VHT) – capital raising
LBT Innovations (ASX: LBT) – capital raising
Nickel Mines (ASX: NIC) – capital raising
MXC Pharmaceuticals (ASX: MGC) – customer contract
Great Southern Mining (ASX: GSN) – acquisition of mining licenses
Dacian Gold (ASX: DCN) – production update
Alice Queen (ASX: AQX) – Joint venture proposal.

Commodities

Gold: $US1326.67 ($1,901.38) +1.51%

Silver: $US14.79 +1.49%

Oil (Brent): $US62.15 +0.26%

Oil (WTI): $US52.68 -1.29%

Coal: $US75.20 -2.40%

Iron ore 62pc fe: $US98.76 +0.04%

AUD/USD: $US0.697 +0.56%

What got you talking yesterday

Over on the Stockhead Facebook forum, group member Steve Rosewell highlighted some recent data which shows there’s been plenty of investor activity in lithium and cobalt stocks lately.

“RECORD VOLUMES since MakCorp commenced statistics reports in March 2019. Look at total commodity volume, and especially Lithium & Cobalt. Incredible rise/gains.”

“#Lithium #RareEarths performed well. #LTR #AVZ #PEK & others 50%+ gains. Record Volumes, strong week/month gains with %’s up. MakCorp did mention a couple of times now that Lithium is gaining momentum last few weeks,” he said.

These were the five most-discussed stocks on trading gossip forum HotCopper at the close of today’s session:

Yesterday’s winners

Junior uranium explorer Adavale Resources (ASX: ADD) posted the biggest gain, surging by 200 per cent to 0.9 cents in afternoon trade.

The move came on no news, with the company having made no market announcements since April 17. The gains returned the ADD’s share price to its late-March levels, after it commenced a steady decline to around 0.2 cents in the month of April.

Ticker Name Price ($) % Chg Market cap
ADD Adavale Resources Ltd 0.009 +200.00% $998K
GTE Great Western Exploration Ltd 0.007 +75.00% $7.3M
KLH Kalia Ltd 0.0015 +50.00% $3.8M
VIC Victory Mines Ltd 0.003 +50.00% $4.1M
ASN Anson Resources Ltd 0.07 +44.90% $36.5M
DTM Dart Mining NL 0.007 +40.00% $7.1M
EQE Equus Mining Ltd 0.007 +40.00% $6.3M
GPP Greenpower Energy Ltd 0.002 +33.33% $3.4M
LRS Latin Resources Ltd 0.002 +33.33% $7.0M
OVL Oro Verde Ltd 0.002 +33.33% $3.1M
RXH Rewardle Holdings Ltd 0.004 +33.33% $2.1M
SMI Santana Minerals Ltd 0.004 +33.33% $2.7M
SYT Syntonic Ltd 0.004 +33.33% $13.0M
VMG VDM Group Ltd 0.002 +33.33% $12.6M
LKE Lake Resources NL 0.1 +31.25% $41.2M
BLK Blackham Resources Ltd 0.009 +28.57% $27.9M
FNT Frontier Resources Ltd 0.015 +25.00% $7.3M
BRN BrainChip Holdings Ltd 0.06 +25.00% $68.2M
ANL Amani Gold Ltd 0.0025 +25.00% $13.0M
NEW Norwest Energy NL 0.0025 +25.00% $446.8M
QGL Quantum Graphite Ltd 0.0025 +25.00% $18.9M

 

Yesterday’s losers

In percentage terms, there were some sharp falls among the small-cap resources minnows with Variscan Mines (ASX: VAR), Sun Resources (ASX: SUR) and Auking Mining (ASX: AKN) all losing half their value to fall to 0.1 cents.

Ticker Company Price ($) % Chg Market cap
VAR Variscan Mines Ltd 0.001 -50.00% $1.3m
SUR Sun Resources NL 0.001 -50.00% $881K
AKN Auking Mining Ltd 0.001 -50.00% $933k
AAJ Aruma Resources Ltd 0.003 -40.00% $1.9M
TSC Twenty Seven Co Ltd 0.002 -33.33% $2.0M
SUD Suda Pharmaceuticals Ltd 0.004 -33.33% $10.3M
RMG RMG Ltd 0.01 -31.25% $6.8M
ADR Adherium Ltd 0.03 -26.47% $4.4M
PSM Peninsula Mines Ltd 0.003 -25.00% $3.0M
MLS Metals Australia Ltd 0.003 -25.00% $4.0M
DRE Dreadnought Resources Ltd 0.003 -25.00% $3.3M
CAD Caeneus Minerals Ltd 0.0015 -25.00% $3.2M
AVE Avecho Biotechnology Ltd 0.003 -25.00% $4.7M
NGY NuEnergy Gas Ltd 0.014 -22.22% $20.7M
MCT Metalicity Ltd 0.007 -22.22% $4.2M
CAE Cannindah Resources Ltd 0.011 -21.43% $2.0M
LAA LatAm Autos Ltd 0.06 -20.25% $26.4M
PPY Papyrus Australia Ltd 0.004 -20.00% $925K
MHC Manhattan Corp Ltd 0.004 -20.00% $3.0M
DLC Delecta Ltd 0.004 -20.00% $2.8M
COY Coppermoly Ltd 0.01 -20.00% $13.8M