Market Open: ASX200 braces for flat start

It’s looking to be another flat day for the ASX200, with no lead-in from the US where markets were closed for President’s Day.

The European EURO STOXX 50 index ended a three-day rally, it’s sitting near record highs, having gained 18.6 per cent since October.

Back home and the RBA will also release meeting minutes from its latest meeting at 11.30 am AEDT.

Iron ore giant BHP (ASX:BHP), investment manager Centuria Capital (ASX:CNI), property development firm Ingenia Communities Group (ASX:INA); and Sonic Healthcare (ASX:SHL) are all set to release financial reports today.

The Star Entertainment Group (ASX:SGR) is being investigated by the New South Wales Independent Casino Commission through an inquiry led by Adam Bell QC. The inquiry will look at ‘the suitability of The Star Sydney and its associate The Star to manage and operate The Star Sydney Casino.

The inquiry is set to take about 15 weeks, with the outcome due in May.

Star Entertainment Group shares have already dropped more than 55 per cent over the past year.

Other stocks to watch today include: Cyprium Metals (ASX:CYM) which has announced a shallow high-grade copper discovery near Cue in Western Australia; mineral explorer Kaili Resources (ASX:KLR), which has been granted two more rare earths tenements within the Murray Basin and Limestone Coast in South Australia; and, gold and silica sands company Metallica Minerals’ (ASX: MLM) as the board will be considering a takeover offer from Diatreme Resources (ASX:DRX). Under the offer, MLM shareholders would receive 1.33 Diatreme shares for each Metallica Minerals share. The board has urged shareholders not to take any action until it makes a formal recommendation.  

The Aussie dollar is buying 65 US cents. Bitcoin has been around US$51,900, it’s tripled in value since the start of last year.

Iron ore Is at US$129.29, crude oil is around US$79.29, gold is buying US$2029 and natural gas is down three per cent to US$1.56.