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Wall Street’s awaiting mid-week consumer and producer data, and so the S&P500 fell into the red overnight and the Dow Jones ended its 8-day rally. Only the Nasdaq closed the session above water.
One of the market leaders was Apple, which added 1.7% on progressing a deal with OpenAI to integrate ChatGPT into the iPhone. GameStop flew more than 74 per cent and AMC Theatre gained 80 per cent – both thanks to a return on X by social media trading personality Roaring Kitty – also known as Keith Gill – who drove up GameStop buying in 2021.
And on the ASX200 this morning, a flat start is expected, Futures tipping the market may slip ever so slightly into the red.
A revised bid by BHP Group (ASX:BHP) to takeover London-listed Anglo American has been knocked back. BHP had increased the number of shares that Anglo American shareholders would receive in the deal that valued the company at around $64.6 billion.
BHP has expressed disappointment, but has until the 22nd to make clear whether it will submit a firm offer.
Meanwhile, far smaller Applyflow (ASX:AFW) is set to rename to FMR Resources with a new ASX code to match – FMR. It released a ‘recompliance’ prospectus to switch from its business in human resources software products to battery metals exploration in Canada.
Applyflow last traded in November last year. It’s raising $2.7 million with 20-cent shares to acquire copper, rare earth and niobium projects.
Also this morning, asset management firm, Pacific Current Group (ASX: PAC) has announced it’s sold 55 per cent of its interest in Pennybacker Capital Management to Goldman Sachs Asset Management’s Petershill program. It’ll occur in a staged deal worth more than $53 million.
One Australian Dollar is buying US66 cents, copper’s added nearly 2.5 per cent to around US$4.77 a pound, gold has been trading around US$2337 an ounce, iron ore has been holding stable, just below US$117, brent crude has been at US$83.44 a barrel and natural gas has been trading at US$2.37 per million British thermal units.
