The ASX200 closed last week at a new record level and the rally’s tipped to continue today, with the index expected to open another 0.1 per cent higher.
US indices – the Nasdaq and S&P 500 – both closed at record highs last week. There was a boost from Nvidia, which gained more than 4 per cent.
The Dow Jones dropped 0.11 per cent.
The Australian Bureau of Statistics (ABS) will release quarterly business indicators this morning, building approvals data and statistics on mining and petroleum exploration.
Small cap stocks to watch include Barton Gold Holdings (ASX:BGD), which has lifted its Tunkillia Gold JORC resource in South Australia to 1.5 million ounces – it’s added more than half a million ounces over the past 12 months; Cycling marketplace operator BikeExchange (ASX:BEX) which has lifted its capital raising to $1.15 million with a retail entitlement to open mid-week; and, the Foreign Investment Review Board has given the tick of approval for Lithium Power International (ASX:LPI) to be acquired by the world’s largest copper producer Codelco. The deal values LPI shares at 57 cents – a cent above Friday’s close price of 56 cents.
One Australian dollar is buying US65 cents. Iron Ore has been trading at US$117.50, crude oil has been at just under US$80 a barrel. Gold has gained nearly 2 per cent – or US$40 – to US$2083 – which represents record levels – and natural gas has been holding firm at US$1.83.