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ASX today − We may be 24 hours late to all the excitement, thanks to the ASX being closed for Australia Day yesterday, but our local bourse is now straight into Week 5’s precious metals party − and the equity hike it’s spurred on.
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Overseas this morning, the S&P 500 has flirted with resetting its ATH, while the Dow has advanced by some +0.65%. The vibes are similar over in Europe, too, where London’s FTSE and the Stoxx were up as much as +0.2%.
That’s settled our Australian share futures into an expected +55-point hike, more than +0.6% higher than where things settled on Friday last week.
All this comes under a “risk-on” shadow − that is, Goldman Sachs is saying traders have a risk tolerance last seen in early CY22. It sets up an interesting dichotomy, because alongside that, safe havens like gold and silver have busted through their ceilings; gold popped past US$5K while silver’s cracked $117.
It’s certainly all happening heading into Week 5, and we haven’t really seen any further geopolitical chaos just yet, so more could come yet.
Now, let’s take a look at some ASX company news for Monday.
ASX stocks to watch
It’s going to be a busy week stock-wise, with hundreds of companies still on the hook to release quarterly reports by Friday. It’s all going to get a little tighter thanks to Australia Day cutting Week 5 to four days, too.
Those HotCopper users will be watching most closely include much-followed lithium duo Liontown (ASX:LTR) and PLS Group (ASX:PLS), as well as Iluka Resources (ASX:ILU), Boss Energy (ASX:BOE), and Mineral Resources (ASX:MIN).
As you may have guessed, most quarterlies to come are from miners and explorers, as well as gold juniors, critmins hopefuls, and oil and gas smallcaps.
(Expect most on Thursday arvo and Friday morning; right before deadline.)
Elsewhere, Red Hill Minerals (ASX:RHI) has confirmed there’s gold and copper at its Anabama Project in Broken Hill after early exploration drilling. A whole pile of key assays are now due back through February as well.
And, Battery Age (ASX:BM8) has a new chief: Sebastian Kneer will replace long-serving CEO Nigel Broomham at the critmins explorer next month.
Buck and ore
Now – in forex, we’re within touching distance of the Aussie dollar buying US 70c early Tuesday morning; today, it fetches 69.1c. (Some two weeks ago, I suggested we may hit the 70c-level again, so let’s see there.)
Then, looking at commodities, all in the greenback,
Iron Ore is down -1%; to today sell at $103.55 a tonne in Singapore,
Brent Crude‘s down, at $65.66/Bbl,
Gold is selling at $5,044/ounce,
US natgas futures are up another +22%, $6.47 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – happy trading.
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