ASX today – A technology-themed selloff over the pond in the U.S. is dampening Australian investors’ spirits somewhat, with the ASX 200 heading towards a -0.32% downtrend once the bourse opens on Thursday morning.
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While Australian shares aren’t especially tech-exposed, the dip on Wall Street is only adding to the damp mood around the traps Down Under this week.
Gold (and silver and platinum) dumping through Week 43 has been enough to make investors skittish, and it’s not getting much better yet.
There’s plenty of room for the ASX to turn things around before we get to Friday close tomorrow, especially considering the gold exodus seems to be slowing down – but we have a long way to go ’til the weekend.
Here are the stocks to watch as that red dip at open is (likely) realised.
ASX stocks to watch
Rio Tinto (ASX:RIO) is pondering a deal with its largest shareholder, Chinalco, which would let the Australian miner buy back its London-listed stock. It would have to shed projects like Simandou (in Guinea) or Oyu Tolgo (Mongolia) to make the move, but would then be able to buy U.K. equities again.
Elsewhere, Rox Resources (ASX:RXL) has landed underground mining permits for its Youanmi Gold Project in Western Australia. The explorer was waiting for the ‘go’ from the Department of Mines, Petroleum, and Exploration.
There’s a whole heap of reports out today, too, including buzzy Alcoa Corporation (ASX:AAI). Others include Fortescue (ASX:FMG), Insignia Financial (ASX:IFL), Northern Star (ASX:NST), and Regis Resources (ASX:RRL).
For AGMs: BHP Group (ASX:BHP), Cochlear (ASX:COH), Brambles (ASX:BXB), Bapcor (ASX:BAP), and bourse operator ASX Ltd (ASX:ASX).
Genesis Energy (ASX:GMD) already shared; it’s had a strong first quarter.
We’ll watch gold/silver stocks again through Thursday, too.
Buck and ore
Now – in forex, the Oz dollar buys 64.9 U.S. cents.
Looking at commodities, all in the greenback,
Iron Ore gained +0.57%, to $104.15 a tonne in Singapore,
Brent Crude is up +3.5%, to $63.45/bbl,
Gold is still sliding downward, and is down at $4,110 an ounce, and,
US natgas futures dropped -1%, to $3.43 per gigajoule.
That’s HotCopper’s ASX Market Open, I’m Isaac McIntyre – good luck, happy trading.
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