Market Open: ASX200 rally tipped to start short trading week

The ASX200 is expected to regain some of the ground lost last week, when the market plunged on reports of conflict heating up in the Middle East.

ASX Futures tips the ASX200 will lift more than 0.85 per cent (0.86%).

Later today China will publish its interest rates position – and its widely tipped to be left on hold.

In stocks to watch: Air New Zealand (ASX:AIZ) tips its earnings will be more than A$9 million lower and has lowered its earnings before tax guidance. It blames ‘softening revenue conditions’ in the fourth quarter domestically and in North America.

South 32 (ASX:S32) has maintained its production and cost guidance for all divisions except for at Australia Manganese where operations are suspended following Tropical Cyclone  Megan.

Boss Energy (ASX:BOE) is celebrating the production of a first drum of uranium from its Honeymoon project in South Australia; and, Spartan Resources (ASX:SPR) has raised $69 million through an institutional raise, with a target of $80 million for its exploration at the Dalgaranga Gold project in the Murchison region of Western Australia. The retail raise opens today.

There are set to be two new ASX listings within the next week: Oil and gas company D3 Energy (ASX:D3E), which has raised $10m with 20c shares is set to debut on Friday, and, engineering and maintenance company Tasmea Limited (ASX:TEA) is set down for next Monday after raising $59 million with $1.56 shares.

One Australian dollar is buying US$64.2 cents. Bitcoin has started to tick up following the bitcoin halving event early on Saturday morning – it’s above US$65,000 (A$101,230).

Iron ore has been at US$108.25 a tonne; gold has slipped to US$2384.87 (above A$3700). Brent crude has been trading around US$87 a barrel and natural gas has been trading at US$1.76 per million British thermal units.

That’s Market Open for what will be a shorter trading week, with Anzac Day holiday Thursday.