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The ASX200 is set to open slightly lower – by 0.18% – on Monday, as we begin a week in which investors are anticipating more information on Australia’s inflation, and as we edge closer to the Federal Election.
The US market ended last week higher, with Friday showing a fourth consecutive session of gains, supported by big tech, but balanced by continuing uncertainty around Donald Trump’s tariffs plans. The S&P 500 increased 0.7%, the Nasdaq was up 1.1%, and the Dow pushed up by 20 points. Trump’s comment that 50% tariffs would be a ‘total victory’ kept investors wary, and it was not clear what was happening with talks between Beijing and Washington in relation to the levies.
Meanwhile in Australia, the investors are looking ahead to the release on Wednesday of consumer price index (CPI) data for the March quarter. Analysts are expecting annual inflation to shift from a rise of 3.2% rise to one of 2.9% – the latter putting it within the RBA’s target.
On the ASX, Alkane Resources Ltd (ASX:ALK) and Mandalay Resources Corporation (TSX:MND) have decided to combine as a newly-created gold and antimony producer, with 3 mines which together are expected to produce 160,000 ounces of gold in 2025, rising to more than 180,000 ounces the following year.
Belararox Ltd (ASX:BRX) is reporting successful completion of drilling at its Toro – Malambo – Tambo (TRT) base metals project in Argentina.
And New Frontier Minerals Ltd (ASX:NFM) says it has identified a new prospect – Paddington – at its Harts Range project in the Northern Territory, which is prospective for uranium, niobium and rare earths.
To commodities – all in US $ here: Iron ore is $98.60 on the Singapore Exchange, gold’s trading at $3327, Brent crude is $66.99 & natural gas is $2.92 a gigajoule.
One Aussie dollar is buying 63.9 US cents.
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