It could be a day where the ASX200 reaches yet another record – futures are tipping a rise of more than a third of a per cent (0.34%), bringing it within around 30 points of a new all-time high.
It comes after the S&P 500 notched a record – gaining 0.4% overnight, & the Nasdaq and the Dow Jones both gained about 0.6%. Add to that iron ore’s strength – it’s above the US$100 a tonne mark on the Singapore exchange.
Also in USD, copper soared back close to $4.60 a pound ($4.58) and silver’s been trading at its highest level in more than a decade ($32.02).
Meanwhile, gold’s also been at record levels – firmly above US$2670 (2672) dollars an ounce, but energy’s struggled – brent crude’s dropped close to 3% to around US$71.35 a barrel & natural gas is also down about 2.5% to just below US$2.75 a gigajoule.
On our market today, it’ll be interesting to see how Star Entertainment Group (ASX:SGR) returns to the bourse this morning – and it’s likely to be pretty painful. It last traded at 45 cents in late August – but the company yesterday revealed a net loss above $1.6 billion.
There’s also more awareness of The Star’s cost pressures, debt load, a capital raise being afoot, and, that assets at 4 sites are being written down.
Meanwhile, Forbidden Foods (ASX:FFF) has announced it’s completed the acquisition of Oat Milk Goodness which was co-founded by Australian cricketer, Steve Smith. It was an all-scrip deal to the value of $3.42 million – purchased with shares priced at 1.2 cents, just above yesterday’s close price of a cent.
To our Aussie dollar – it’s gained another per cent – it’s been buying 68.9 US cents.