Rise and Shine: What you need to know before the ASX opens
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On Stockhead today, we take a close look at why once-loved buy now, pay later stocks are taking a dive, Tim Treadgold offers some insight into when lithium investors can expect to see some light at the end of the tunnel, and one venture capital fund thinks food innovation is where the real money can be made.
Australia will get an update on the business outlook with the release of NAB’s monthly business survey at 11:30am AEST. After slumping sharply in the first half of the year, sentiment has improved in the wake of the federal election.
Overseas, the Malaysian central bank will make its policy announcement (expected to hold at 3 per cent) while US federal reserve committee members Bullard and Bostic will speak at an event at Washington University.
The following companies are scheduled to come out of a trading halt or voluntary suspension over the next 48 hours:
Altura Mining (ASX:AJM) – offtake agreement
Intermin Resources (ASX:IRC) – divestment
Cycliq Group (ASX:CYQ) – funding discussions
Kingwest Resources (ASX:KWR) – project acquisition
Immutep (ASX:IMM) – capital raising
Memphasys (ASX:MEM) – capital raising
Cogstate (ASX:CGS) – capital raising
Legend Mining (ASX:LEG) – capital raise & new JV agreement
Liontown Resources (ASX:LTR) – updated mineral resource estimate
UUV Aquabotix (ASX:UUV) – capital raising
Koppar Resources (ASX:KRX) – acquisition
Dacian Gold (ASX:DCN) – FY guidance and updated life of mine plan
Digital Wine Ventures (ASX:DW8) – logistics partnership
Gold: $US1,395.09 ($2,000.59) +0.07%
Silver: $US15.25 -0.55%
Oil (Brent): $US63.92 -0.68%
Oil (WTI): $US57.55 -0.63%
Coal: $US69.50 -0.57%
Iron ore 62pc fe: $US117.75 +3.1%
AUD/USD: $US0.6974 +0.05%
There was the usual diverse range of coverage on Stockhead’s Facebook group chat, ranging from Morgans’ best small-cap mining picks to a useful summary of ASX companies based in the US (it was July 4th last week after all).
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Friday, July 8:
— HotCopper (@HotCopper) July 8, 2019
Investment company Mariner Corp (ASX:MCX) closed 85 per cent higher at 4c after announcing a $2.4m capital raising on Friday via a share placement, along with a restructure of its debt.
Lindian Resources (ASX:LIN) made a significant bauxite discovery and its up 36 per cent.
Software plays 8Common (ASX:8CO) and Vault Intelligence (ASX:VLT) have surged 19 per cent and 33 per cent respectively on strong revenue figures.
Here are the best performing ASX small cap stocks for Monday, July 8:
It was a rough day for Carnarvon Petroleum (ASX:CVN), which announced drilling results from its offshore oil project in WA that showed its well did not contain any produceable hydrocarbons.
Here are the worst performing ASX small cap stocks for Monday, July 8: