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The day ahead
It’s a quiet one on the domestic calendar today, with all eyes on the US Federal Reserve later tonight when the central bank makes it rates announcement.
Benchmark US interest rates will stay on hold, but markets will be watching like a hawk for any changes in the Fed’s thinking on the prospect of possible rate cuts later this year.
Also overseas, the UK and Canada both report inflation figures for May.
The following companies are scheduled to come out of a trading halt or voluntary suspension over the next 48 hours:
PainChek (ASX: PCK) – capital raising
KneoMedia (ASX: KNM) – capital raising
Keytone Dairy (ASX: KTD) – capital raising & acquisition
Vital Metals (ASX: VML) – acquisition
St George Mining (ASX: SGQ) – capital raising
Arafura Resources (ASX: ARU) – capital raising
Pure Minerals (ASX: PM1) – capital raising
Botanix Pharmaceuticals (ASX: BOT) – study results
Gold: $US1,346.78 ($1,958.48) +0.53%
Silver: $US14.99 +1.07%
Oil (Brent): $US62.10 +2.00%
Oil (WTI): $US54.17 +4.12%
Coal: $US70.55 -1.37%
Iron ore 62pc fe: $US110.50 -1.78%
What got you talking last week
Over on the Stockhead Facebook group page, chatroom member Philip Robinson gave our senior journalist Rachel Williamson a shoutout for her excellent rundown of the Australian cannabis sector.
“Hi Rachel great read. Helpful information thanks. Did you have a look at MXC at all? Any thoughts on it?“, Robinson asked.
And Rachel’s response: “Hey Philip, thanks! I didn’t but I do know they’re doing business in LatAm and China, which I find super interesting. Not many pot stocks are venturing into that country yet — it’s tricky, but apparently going to be very Chinese, ie massive.”
These were the five most-discussed stocks on trading gossip forum HotCopper at close on Tuesday, June 18:
— HotCopper (@HotCopper) June 18, 2019
Mining minnow Caeneus Minerals (ASX: CAD) — a regular on the leaders & laggards tables — posted the biggest percentage gain of the day by nipping higher to 0.2 cents.
And marketing and payments company Rewardle Holding (ASX: RXH) had a good day after announcing it had set up a strategic partnership with Pepper Leaf, the Melbourne-based subscription meal delivery service.
Among the laggards, consumer electronics retailer Tempo Australia (ASX: TPP) was the worst performer, losing 40 per cent of its value to fall to 4.2 cents.
The company only rejoined the ASX boards on Friday after being in a trading halt since 24 April 2019, in connection with a contract for the construction of a solar farm that Tempo said may put stress on its existing working capital facilities.
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