Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, rumour has it Independence Group (ASX:IGO) — along with junior partner Rumble Resources (ASX:RTR) — may be onto another Tropicana in the Fraser Range, Venus Metals boss Matt Hogan has some hot tips from Mark Creasy, and US betting is where the action is and these are the hot stocks in the sector.
Markets will open this morning following another ceasefire in the US-China trade war, as President Trump agreed to suspend further tariffs during talks with China’s Xi Jinping at the G20 summit over the weekend.
There’s a strong lineup of key data and events in Australia this week to kick off a new month, headlined by Tuesday’s interest rate announcement from the RBA (2:30pm AEST).
The market is now expecting the central bank to cut rates for the second time in two months, bringing the official cash rate to 1 per cent.
Before that though on Monday morning, CoreLogic will release its June home price index. It’s the first full monthly reading of national housing values since the election, and follows RBA data on Friday which showed growth in housing credit just slowed to an all-time low.
On Wednesday the ABS has two May releases — building approvals data (which has been tanking) and trade figures, with the recent rally in iron ore prices expected to support a “fresh record high” surplus, Westpac says.
And capping off the week on Thursday the ABS has retail sales figures — a key measure of economic health — with growth expected to remain soft in May.
Looking abroad, US markets will return from the July 4 holiday on Thursday with all-important June employment numbers on Friday night after Asian markets close.
The following companies are scheduled to come out of a trading halt or voluntary suspension over the next 48 hours:
Ausmex Mining (ASX:AMG) – exploration results
Titan Minerals (ASX:TTM) – acquisition
Atomos (ASX:AMS) – capital raising
Invictus Energy (ASX:IVZ) – update to resource estimate
Moho Resources (ASX:MOH) – results
Calima Energy (ASX:CE1) – capital raising
Adacel Technologies (ASX:ADA) – trading update
Onevue Holdings (ASX:OVH) – sale of Trustee Services.
Speciality Minerals (ASX:SEI) – acquisition
Smart Marine Systems (ASX:SM8) – capital raising
Collaborate Corp (ASX:CL8) – capital raising
Hot Chili (ASX:HCH) – capital raising
Lifespot Health (ASX:LSH) – product development & distribution heads of agreement
Carnavale Resources (ASX:CAV) – clarification of announcements.
Gold: $US1,409.50 ($2,006.83) -0.25%
Silver: $US15.32 +0.39%
Oil (Brent): $US64.39 -1.95%
Oil (WTI): $US58.20 -2.87%
Coal: $US68.83 +0.23%
Iron ore 62pc fe: $US118.02 +0.3%
AUD/USD: $US0.7021 +).19%
Over on Stockhead’s Facebook chat group, there were plenty of interesting narratives that caught the attention of group members from Tesla vs the traditional car manufacturers to the latest crypto update, and everything in between.
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Friday, June 28:
— HotCopper (@HotCopper) June 29, 2019
Moves in the share price of last week’s winner, Hylea Metals (ASX:HCO), shows that markets are still on the lookout for the next big uranium opportunity.
The battery metals company announced it was buying Paladin Energy’s (ASX:PDN) stake in the Kayelekera uranium mine in Malawi for $10m, and its share price closed the week more than 360 per cent higher.
Here are the best performing ASX small cap stocks for June 24-28:
Internet domain company Arq Group (ASX:ARQ) remains under pressure, losing more than 40 per cent over the course of last week.
The falls followed another earnings downgrade for its larger enterprise division, with forecast core earnings of between $12m and $14.5m this year — well down from previous estimates of more than $20m — as the potential loss of a major customer continues to hang over the company.
Here are the lost performing ASX small cap stocks for June 24-28: