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The ASX200 is set to open 0.17% higher on Thursday following a mixed night on Wall Street which reflected a data reading showing the first quarterly contraction in the US economy in three years.
The S&P 500 and Dow increased 0.1% and 0.3% respectively – reversing early losses and registering a 7-day winning streak, while the Nasdaq ended the night down 0.1%. Investors seemed to be somewhat unconcerned with the data – which revealed the economy contracting by 0.3% in the first quarter. However, it wasn’t all bad news, as another data reading showed US consumer spending rising by a higher than expected 0.7% in March.
On the ASX, Tempest Mineral Ltd (ASX:TEM) has published an inaugural mineral resource estimate of 63.5 million tonnes at 30.6% iron for the Remorse magnetite deposit, which is part of Tempest’s wider Yalgoo project in Western Australia.
Everest Metals Corporation Ltd (ASX:EMC) has secured support from the CSIRO for advanced geochemical and mineralogical studies at the Mt Edon project in WA, looking at rubidium, lithium and caesium present there.
And Resolute Mining Ltd (ASX:RSG) is set to acquire AngloGold Ashanti’s Doropo and ABC gold projects in Cote d’Ivoire for a cash and contingent consideration.
To commodities – all in US $ here: Iron ore is $96.95 on the Singapore Exchange, gold’s trading at $3276, Brent crude is $61.23 & natural gas is $3.35 a gigajoule.
One Aussie dollar is buying 64.03 US cents.
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