ASX today – Australian futures are making sure I have one last red day to write about in CY25 before we say goodbye. (Don’t worry, though, The Market Link‘s editorial coverage is heading into a shutdown until January – the HotCopper forums will, of course, still be around for all your stock insights!)
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Like most, the Aussie bourse seems to have one foot in the Chrissy–New Year’s holidays already and is petering into a -0.2% drop this morning.
Most of the reason we’re heading for a drop today would likely be some profit taking before the break, especially considering our ‘big brother’ indexes on Wall Street are heading towards all-time highs last set in late October.
(As a reminder: The ASX will be closing early today, at 2.10pm. It will then be shut on Thursday and Friday for Christmas Day and Boxing Day, and return for regular trade next week, on Monday, December 29.)
There’s also a little company news getting in at the bell, though nothing’s come through the wire at time of writing on the announcement pages today.
Elsewhere, all eyes will be on gold, silver, and copper miners and producers after the precious metals enjoyed another EOY bump overnight. Silver and London-traded copper in particular have both cracked records.
Capricorn Metals (ASX:CMM) has made a late move, this week entering a binding agreement with Tempest Minerals (ASX:TEM) to acquire the Yalgoo Project in Western Australia’s South Murchison region.
Electro Optic Systems (ASX:EOS) – one of the most followed stocks on HotCopper these days – inked a $33M deal with a company supplying the U.S. Army. It will deliver remote weapon systems to the vehicle designer.
And, DroneShield (ASX:DRO) is up as much as +9% this week after establishing a mandatory shareholding prolicy for its executives.
Now – over in forex, the Oz dollar buys 67 U.S. cents.
Looking at commodities, all in the greenback,
Iron Ore has dropped back around -0.5%, to $104.20 a tonne in Singapore,
Brent Crude is up +0.7%, at $62.49/bbl,
Gold is at $4,497 an ounce, and,
US natgas futures boomed +11.4%, to $4.41 per gigajoule.
That’s HotCopper’s last Market Open for the year, with our coverage holidays now running through to Monday, January 5. I’m Isaac McIntyre – good luck, merry Christmas, have a great New Year’s, and happy trading.
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