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ASX today – Australian shares are heading for a modest +0.1% advance this Tuesday morning, around 10 points higher in ASX futures, with many traders remaining cagey 24 hours removed from Monday’s big bourse glitch.
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The week had opened under moderately ‘up’ headwinds, but ASX Ltd’s struggles to rectify an issue in the system sent investors heading for the hills.
As many as eighty companies had been caught up in the kerfuffle – which ASX is expected to provide an update on today – where price-sensitive releases were published by companies but didn’t actually go live.
Some fifty listed companies had to pull the brakes until it was resolved. While not their fault, many dumped after ending their mandated trading halts.
Between that drama and Wall Street opening around -0.5% on average across its majors, we might see some cautious selling through Week 49.
We’ll see if those sentiments carry to Tuesday. Here’s today’s company news.
ASX stocks to watch
All eyes, of course, on ASX Ltd (ASX:ASX) as it looks to answer questions regarding the Monday announcement hitch. The operator has already been in the spotlight for some months; it lost $1.62/sh yesterday.
Elsewhere, Power Minerals (ASX:PNN) has wrapped up the acquisition of the Santa Anna Niobium-REE-Gallium project in the Goias State in Brazil.
We’ve got another debutant lined up for today: Black Horse Mining will ring the bell at 1pm in Sydney as it lists. The Bendigo-Ballarat explorer is developing the Mount Egerton Project and is looking to raise $8 million (at 20cps).
Black Horse follows another new company in Week 49, after medical solutions company Epiminder (ASX:EPI), which is working to treat epilepsy, started listed life yesterday. It dropped from $1.50 to $1.30 on day one.
KFC operator Collins Foods (ASX:CKF) will share results this morning.
Bank of Queensland (ASX:BOQ) has its annual today, too.
Buck and ore
Now – in forex, the Oz dollar buys 65.4 U.S. cents.
Looking at commodities, all in the greenback,
Iron Ore may have caught the floor and is up +1.6% to $103.85 a tonne in Singapore,
Brent Crude is up +1.4%, to $63.25/bbl,
Gold has kept slowly trucking; today it’s selling at $4,241 an ounce, and,
US natgas futures have popped +3%, to $4.92 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck, happy trading.
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