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The Australian share market is predicted to reverse yesterday’s losses with ASX futures tipping a more than .6 per cent lift into the green. It’s of course the day after the RBA’s decision to keep interest rates at 4.35 per cent, amid rhetoric that future rate increases will be imposed if needed to meet inflation targets.
US markets traded just slightly higher overnight: Data analytics software company Palantir surged 30 per cent thanks to growing demand for its AI offerings. Its profit guidance for 2024 was well received. While chip maker Nvidia is down two per cent, although shareholders shouldn’t really be complaining – fun fact, is up more than 83,000 per cent from 10 years ago.
Back home and NAB has appointed a new group CEO, Andrew Irvine and MD succeeding Ross McEwan from the start of April.
Geothermal company, Earths Energy (ASX: EE1) – formerly Cradle Resources – will be reinstated to trading on the ASX today after raising $6m through a 2-cent raise. It has projects in South Australia and Queensland.
And emerging from voluntary administration this week is agricultural company Australian Potash (ASX:APC) which finished the quarter with $546,000 cash on hand and has a prospectus to raise $6 million to regain quotation on the ASX.
The Aussie dollar is buying 65 US cents.
Iron ore is sitting steady at US$130.50, crude oil is up nearly a per cent, closing in on the US$73.50 mark, gold is above the US$2035 mark and natural gas has fallen nearly four per cent to below US$2.
