On Stockhead today, copper finally achieves hottest ticket status, how Warren Buffett can cop a US$43bn loss and win, and why cash is king.

But first … the day ahead.

Local shares are set to open lower today. At 8am AEDT, the ASX 200 August futures is pointing down by 0.20%.

TRADING HALTS 

The following companies went into trading halts yesterday and are expected out in the next few days:

Conico (ASX:CNJ) – capital raising pending

Riversgold (ASX:RGL) – announcement around an acquisition

Tempus Resources (ASX:TMR) – announcement around drilling results

Odin Metals (ASX:ODM) – capital raising pending

Evolution Energy (ASX:EV1) – capital raising pending

Po Valley Energy (ASX:PVE) – another capital raising in the works

DevEx Resources (ASX:DEV) – pending drill results from the company’s Nabarlek Uranium Project

Southern Cross Gold (ASX:SXG) – pending an announcement around material exploration results

 

COMMODITY/ FOREX/ CRYPTO MARKET PRICES

Gold: $US1,788.86 (+0.83%)

Silver: $US20.65 (+3.92%)

Nickel (3mth): $US21,620/t (-2.68%)

Copper (3mth): $US7,947/t (+0.97%)

Lithium Carbonate, China (Benchmark Minerals Intelligence, June 30): $US69,750/t

Lithium Hydroxide, China (Benchmark Minerals Intelligence, June 30): $US70,875/t

Oil (WTI): $US90.66(+1.86%)

Oil (Brent): $US96.41 (+1.60%)

Iron 62pc Fe: $US110.38 (+1.08%)

AUD/USD: 0.6983 (-0.70%)

Bitcoin: $US23,841 (+2.34%)

 

WHAT GOT YOU TALKING YESTERDAY?

OZ Minerals (ASX:OZL) knocked back BHP’s (ASX:BHP) hostile $3.8 billion bid:


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Also, be sure to check in preopen each day for ‘Market highlights and 5 ASX small caps to watch’, and 10.30am for our daily ‘10 at 10’ column — a live summary of winners & losers at the opening bell.

 

YESTERDAY’s BIGGEST SMALL CAP WINNERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

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Cardno (ASX:CDD) recently completed its sale of Cardno International Development, with proceeds of $56.5m to be distributed to Cardno Shareholders, equivalent to $1.70 per share, in three tranches.

The stock rose from $0.65 to $1.00 in morning trade yesterday, before settling at 86.5 cents when the ASX threw on the brakes by pausing trade for a speedy explanation.

After being terribly on the nose, post-pandemic, the online Aussie marketplace Redbubble (ASX:RBL) went on a bit of a Monday burn, when the brokers at UBS upgraded the dismal stock to a Buy.

UBS says RBL’s looming FY22 numbers may not be as utterly awful as expected, with a few signs suggesting sales might be a beat on the market’s admittedly low forecasts.

The price target on Redbubble was lifted to $1.60, from $1.45, as the Redbubble jumped almost 17%.

“Given the extreme level of investor disinterest in the name… we think a FY22 result which meets consensus expectations, combined with an improved July sales update, will be a positive catalyst for the share price,” UBS said.

Shares in Booktopia (ASX:BKG) were up as well after getting a lease agreement for a big warehouse thing in Strathfield, which it reckons will “underpin the company’s future distribution capacity”.

 

YESTERDAY’S BIGGEST SMALL CAP LOSERS

(Stocks highlighted in yellow fell after making announcements during the trading day).

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