Good morning! With the budget revealing the Government’s upping net spending, the ASX200’s set to add more than half a per cent this morning (+0.57%).
Relevant exploration and mining companies are likely to shine thanks to the promise of Government incentives for critical minerals and hydrogen projects.
US markets rose overnight, the Nasdaq added 0.7 per cent, the S&P500 was up almost half a per cent to near to its all-time high and the Dow Jones about a third of a per cent.
In new entrants to the ASX today: Sun Silver (ASX:SS1) will debut on market after raising $13 million through its IPO with 20 cent shares to progress its silver/gold project in Nevada. It’s being led by Executive Chair Gerard O’Donovan who was recently MD of Battery Age Minerals.
The Australian Agricultural Company (ASX:AAC) has today reported a statutory net loss after tax of $94.6m a big drop from a profit of $4.6m for the previous corresponding period, citing softening cattle prices; Auckland Airport (ASX:AIA) has released its monthly traffic report, showing passenger numbers were up 8 per cent year-on-year; and, Genesis Energy (ASX:GNE) has appointed a new CFO, Julie Amey who will be coming from SkyCity Entertainment Group (ASX:SKC).
One Australian dollar is buying US66.2 cents.
Copper’s continued its climb overnight, at US$4.89 a pound, Iron ore is at US$117.31, gold is up US$2356.43, brent crude’s slipped .7 per cent to US$82.76 and natural gas has been trading around US$2.34 per million British thermal units.
That’s Market Open, we’ll bring you an update once trade’s well underway.