Rise and Shine: What you need to know before the ASX opens
Picture: Getty Images
Coming up on Stockhead today, we’re wondering who’s going to save cobalt prices, what the heck is hornblende and six other resources you know nothing about, and all the director trades action last week. But first, here’s what you need to know right now:
Plenty of things coming out this week, but don’t fret: nothing major today.
On Tuesday, the Reserve Bank of Australia will release its notes from its most recent meeting (February 6) to decide the interest rate. It should be riveting stuff, as for the 27th consecutive month, it remained at unchanged at 1.5 per cent. Carson Scott will certainly be excited.
Wednesday will see Westpac’s month-on-month leading index figures, as well as the year-on-year and quarterly wage price index statistics from the Australian Bureau of Statistics.
Thursday is all about employment and unemployment: the ABS will release data on rates of change in employment and unemployment across Australia. The RBA will also will be release foreign exchange data.
On Friday RBA Governor Phillip Lowe gives his testimony to parliament.
Three companies are due to come out of trading halts this morning: Technology Metals (ASX:TMT), Landmark White (ASX:LMW) and Kangaroo Island Plantation Timber (ASX:KPT).
Gold: $USD1306.18 -0.67%
Silver: $USD15.71 -0.88%
Oil (Brent): $USD62.16 +0.31%
Oil (WTI): $USD52.46 -0.47%
Coal: $USD91.25 +0.75%
Iron ore 62% fe: $USD88.56 tonne +0.21%
AUD/USD: 0.7138 at 6.30am
A resources company’s IPO was of interest in the Stockhead ASX Small and Micro Cap Chat Facebook group.
African Gold (ASX:A1G) got tongues wagging with its spectacular debut on the ASX.
“It’s sometimes hard to say what it is about a new IPO that sets pulses racing,” Lion Selection Group director Hedley Widdup told Stockhead. “In the case of African Gold, the projects are early stage but pitched on what is known to be prospective geology in West Africa and with enough indications that are worth pursuing.”
FBR (ASX:FBR), more affectionately known as Fastbrick Robotics, was still a hot topic in the Stockhead ASX Small and Micro Cap Chat Facebook group, with the recent news its robot had finished building an outdoor wall.
“It amazes me why people would invest in this with absolutely no basic knowledge of the building industry and building codes,” said Andrew Odonnell.
Join the conversation here.
Over on popular stock trading gossip forum HotCopper, these were the five most discussed stocks at close on Friday:
— HotCopper (@HotCopper) February 15, 2019
Results from BARD1’s (ASX:BD1) cancer vaccine, which showed it worked in some cancerous mice but not others, was of great interest.
Fashion brand City Chic Collective (ASX:CCX) jumped 48 per cent this week to $1.36 after reporting increased revenue and profits for the 2019 half-year.
Revenue rose 7 per cent to $75.4 million while profit jumped 35 per cent to $9.8 million.
Livestock mover Wellard (ASX:WLD) was up 39 per cent this week to 5c thanks to its first ever profit.
The company turned a $2.9 million profit for the 2019 half-year, a massive $10.3 million turnaround on the 2018 half-year’s $7.4 million loss. High vessel utilisation, increased cattle trading and cost savings were the cause, it said.
It was certainly an interesting week at Emerge Gaming (ASX:EM1), which rose 69 per cent over the course of the week to 1c.
Firstly, it unveiled a roadmap for how it would become the ‘Netflix of gaming’.
But the next day it had to douse over-excited shareholders thanks to a media article which opened with the line “the company is targeting one million monthly subscribers in these regions which would generate in excess of A$10 million per month”.
Shares hit as high as 1.2c but the company said there was no basis for the claim.
Rey Resources (ASX:REY) shares lost half their value this week as Doriemus Resources (ASX:DOR) has now completed due diligence on the West Kora Oil Field on the Western Australian L15 permit and advised Rey that it will now seek to finalise the deal.
White Cliff Minerals (ASX:WCN), which hasn’t had the best of starts to 2019, fell 31 per cent to 1c this week after announcing a non-renounceable entitlements offer to shareholders to raise up to $1.15m.
It is offering 230,975,294 new shares at half a cent each.
That’s all you need to know. Hop to it.