Rise & Shine: What you need to know before the ASX opens
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The All Ordinaries index of ASX shares retreated toward 7,000 points in Thursday trade, and was 0.75 per cent lower on day at 7,037 points.
Over in the US, Google parent company Alphabet punctured the $US2,000 per share level Wednesday, rising 7 per cent to a new record high price of $US2,058 per share.
The leading tech stock is embroiled in a row in Australia over its use of third party news reports.
Alphabet pulled in revenue of $US56.9bn in the December 2020-ended quarter, up 23 per cent on year.
Also, Federal government regulators, including the Commodity Futures Trading Commission, Federal Reserve, and the Securities and Exchange Commission are to meet to discuss recent volatile trading conditions on US stock markets.
The meeting was called by US Treasury Secretary, Janet Yellen, and is in the wake of the rapid rise and fall in the share price of US games retailer GameStop (NYSE:GME).
The US Treasury Department said that Yellen wanted the discussion to focus on whether “recent activities are consistent with investor protection and fair and efficient markets”, reported Barron’s.
GameStop’s share price appears to have settled, and closed 2.4 per cent higher Wednesday at $US92.41 per share. Its market value is still a hefty $US6.4bn ($8.4bn).
The following companies are in trading halts and are expected to exit over the next two trading days:
PolarX (ASX:PXX) – capital raising
Macarthur Minerals (ASX:MIO) – project announcement
Magnis Energy Technologies (ASX:MNS) – funding agreement
Argosy Minerals (ASX:AGY) – capital raising
Jatcorp (ASX:JAT) – supply contract
First Au (ASX:FAU) – capital raising
Amani Gold (ASX:ANL) – capital raising
Gold: $US1,791.78 ($2,359.00) (-2.29%)
Silver: $US26.26 ($34.57) (-2.24%)
Oil (WTI): $US56.42 (+1.29%)
Oil (Brent): $US58.96 (+0.86%)
Coal: $US88.63 (+0.00%)
Iron 62pc Fe: $US155.33 (+3.00%)
AUD/USD: $US0.7597 (-0.24%)
Bitcoin: $US37,208.18 (+0.40%)
The roll-out of COVID-19 vaccines in the coming months has people thinking about travel and tourism again after a period of staycations, or holidaying at home.
One company doing well out of the current uncertain travel market is aircraft leasing and charter flights company Alliance Aviation (ASX:AQZ) which has risen strongly this week.
A lift-off in commodity prices has generated good business from mining companies for their personnel to go with its business line of commercial flights for its clients.
Alliance Aviation’s share price has risen 80 per cent in a year, making it a sector leader, and not far behind is carrier Regional Express (ASX:REX) with a one-year gain of 70 per cent.
Also, be sure to check in at 10.20am each day for our daily 10 at 10 column — a live summary of winners & losers at the opening bell.