Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, fintechs haven’t set the world on fire since the federal election, why Tolga Kumova reckons Canyon can repeat Syrah’s success, and today’s expert gives us his hot gold tips.
There’s a big data release scheduled for 11:30am (eastern time), when all eyes will be on the monthly jobs report for May.
Amid the housing downturn and a sharp decline in economic growth, the RBA has highlighted that moves in the labour market are now a central factor in the outlook for monetary policy.
The median forecast is for monthly jobs growth of 16,000 with unemployment to hold steady at 5.1 per cent, and any significant variation in either direction could have a material effect on stocks and the Aussie dollar.
The following companies are scheduled to go into a trading halt or voluntary suspension over the next 48 hours:
New Energy Minerals (NSE) — Funding & board restructure
People Infrastructure (PPE) — Capital raising
Marquee Resources (MQR) — Acquisition.
Optiscan Imaging (OIL) – Capital raising
Domacom (DCL) – Capital raising
Artemis Resources (ARV) — Capital raising
Allegiance Coal (AHQ) — Capital raising.
Gold: $US1,335.77 ($1,927.60) +0.50%
Silver: $US14.74 +0.48%
Oil (Brent): $US59.94 -3.93%
Oil (WTI): $US51.15 -4.11%
Coal: $US73.67 -3.76%
Iron ore 62pc fe: $US102.76 +3.53%
AUD/USD: $US0.6930 +0.03%
Over on the Stockhead Facebook group, frequent contributor Mel Culley had some sage words on the current boom in electric vehicle production as it pertains to nickel production.
“For all the hype and action around EV’s and the materials in them, a word of caution as far as nickel goes; the top 6 producers in the world are not the top 6 preferred suppliers into the EV battery market. The top 6 qualify by grade quality after the product has been refined.
The main issue in nickel is the copper, iron and arsenic content, this is what downgrades a company’s tonnage sale price and this is what will drive premiums, not how much they dig out of the ground,” Culley said.
These were the five most-discussed stocks on trading gossip forum HotCopper at the close of today’s session:
— HotCopper (@HotCopper) June 12, 2019
Here are the best performing stocks at market close on Wednesday, June 12:
Here are the worst performing stocks at market close on Wednesday, June 12: