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ASX today – A solid performance on Wall Street last night suggests that the ASX will open up in the positive today after a rough day yesterday.
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Billions of dollars were lost on the ASX Thursday as it closed down 2.0% to 8,614.4 points.
On Wall Street the S&P 500 was up 0.2%, the Dow was roughly flat and Nasdaq marginally higher.
Middle East tensions increased the risk premium leading to oil rising again.
Australian bond yields remain elevated and Thursday’s sell-off was broad, so volatility is likely to remain high.
After opening up in the positive the ASX is expected to have another volatile session.
Japan and South Korea were strong overnight, helped by AI/chip optimism, which provides some offset for the Australian market.
Local market news
Marimaca Copper Corp (ASX: MC2) has achieved a number of Marimaca project positives;
Dynamic Metals (ASX: DYM) has elected to divest the Lady Jane gold project;
Challenger (ASX: CGF) has commenced a $300m on-market share buy-back;
Elixir Energy (ASX: EXR) has confirmed that the Beach Energy farmin exclusivity period has expired;
Stakk (ASX: SKK) has won a $12.95m Candescent deal as success continues.
Buck and ore
Now – in forex, the Oz dollar is buying US$0.692
Looking at commodities, all in the greenback,
Iron Ore was down 4.65% to $92.10 per tonne in Singapore today,
Brent Crude was up 4.26% to $102.210 per barrel,
Gold was selling at $4177.06,
US natgas futures was down 2.51% to $2.9500 per gigajoule.
That’s HotCopper’s Market Open, I’m Colin Sandell-Hay – happy trading.
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