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The ASX200 is expected to rise 0.14% for the last day of trade before Australia’s eastern states celebrate the King’s birthday public holiday on Monday.
That comes after the European Central Bank cut its interest rates overnight by a quarter of a per cent to 3.75%, following the Canadian lead yesterday.
Canada has also hinted that it’s planning a second cut in July.
US markets didn’t respond too much: The Nasdaq and S&P500 were mostly unchanged, while the Dow Jones gained 0.20%.
Lululemon jumped nearly 5% on quarterly results. Salesforce added more than 2.5% on news a key shareholder had boosted his stake to almost $1 billion, while Nvidia shed 1.2% to come down off record highs.
To a NZ company on the ASX now and Mercury NZ (ASX:MCY) will proceed with the expansion of the Kaiwera Downs wind farm near Gore on the South Island, following a long-term agreement signed with New Zealand Aluminium Smelters last week. Construction will begin this month for the project which will produce enough power for 73,000 homes a year.
ASX-listed family tracker app company Life360 (ASX:360) kicked off its Nasdaq listing with a US$27 per share IPO raise. The app has more than 66 million users, but posted a net loss of A$42.3 million last year despite more than A$456 million in sales.
Homeco Daily Needs REIT (ASX:HDN) announced its valuation is up $77 million since December last year, and $99m market cap company, New World Resources (ASX:NWC) has got a third drill rig working at its copper projects in Arizona. It’s focussed on 17 targets at two prospects.
One Aussie Dollar is buying US66.6c.
Iron Ore is down at US$107 a tonne, gold has been up close to a per cent at US$2376 an ounce, brent crude has gained 2% to be hovering around US$80 a barrel and natural gas is up more than 2 per cent to above US$2.80 a gigajoule.
