Over in the US…
Investment firms are raising billions of dollars to buy stakes in venture capital-backed technology start-ups, as a long drought in acquisitions and initial public offerings forces early investors to offload their stock at discounts.
Companies such as Sam Altman’s Open AI have arranged the sale of employee stock via the secondary market.
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Across Markets…
The Australian sharemarket fell for a fifth day on Thursday, weighed down by interest rate sensitive real estate stocks as traders further trimmed interest rate cut expectations.
The benchmark S&P/ASX 200 index fell 0.6 per cent, or 46.6 points to 7346.5 at the closing bell led by sharp losses in materials, energy and real estate stocks.
Nine out of the 11 sectors were in the red.
The All Ordinaries slid 0.6 per cent.
Shares fell after a weak lead from Wall Street as markets pared back interest rate expectations after stronger-than-expected December US retail sales data and slightly hotter-than-anticipated UK inflation.
IG analyst Tony Sycamore wrote in a note to clients that the market’s sell-off could have been worse if it “weren’t for a weak December jobs report” which pared some of the index’s earlier losses.
The $A briefly dipped after local data showed the economy shed 65,116 jobs in December, while the jobless rate held steady at 3.9 per cent. The consensus was for a gain of 17,600 jobs last month.
In commodities, iron ore dropped overnight, brent crude traded around $US78 a barrel and gold was poised to fall back below $US2000 an ounce as China’s Premier Li Qiang signalled to world leaders at Davos that Beijing would not resort to using big stimulus measures to boost the economy.
Source: AFR
A number of international research firms are tipping a difficult year for cobalt stocks with oversupply and sliding demand continuing.
2023 was a turbulent year for the metal, according to energy research firm Wood Mackenzie.
As a result of elevated stocks and lacklustre demand, the annual average benchmark price fell to around $23 a pound, halving the level of 2022.
“With no quick fix to the oversupplied situation, the ‘cobalt blues’ are set to continue into 2024,” Wood Mackenzie said.
However, the company noted that it is not all doom and gloom.
“The alloy-grade cobalt market will be one bright spot while returning smartphone demand and rising supply-side risks should keep the price from going into freefall.”
Source: Stockhead
Sector: Lithium
Deal Type: Placement
Raise Amount: $1.75M
Latest Entry Price: $0.006 with a 1:2 AL8OA
Today’s Price Change: $0.005 Unchanged
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.13 with 1:1 T92O
Today’s Price Change: $0.18 -2.70%
Company: Patagonia Lithium (ASX:PL3)
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.20
Today’s Price Change: $0.13 Unchanged
Company: Gold Mountain Limited (ASX:GMN)
Sector: Lithium
Deal Type: Placement
Raise Amount: $2.25M
Latest Entry Price: $0.0075
Today’s Price Change: $0.004 +33.33%
Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
Deal Type: Placement
Raise Amount: $5.75M
Latest Entry Price: $0.007 with 1:2 VRCOB
Today’s Price Change: $0.0065 -7.14%
Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.01 with 1:2 CDTOA
Today’s Price Change: $0.006 -14.29%
Company: Avenira Ltd. (ASX:AEV)
Sector: Phosphate
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.01 with a 1:2 AEVO
Today’s Price Change: $0.012 Unchanged
Company: Latrobe Magnesium Ltd. (ASX:LMG)
Sector: Magnesium
Deal Type: Placement
Raise Amount: $3M & $11.5M
Latest Entry Price: $0.04
Today’s Price Change: $0.055 +1.85%
Company: Askari Metals Ltd (ASX:AS2)
Sector: Mining
Deal Type: IPO
Raise Amount: $5.7M
Latest Entry Price: $0.35 with a 1:3 AS2O
Today’s Price Change: $0.16 Unchanged
Company: Excite Technology Services (ASX:EXT)
Sector: Cloud
Deal Type: Placement
Latest Entry Price: $0.005 with a 1:2 EXTOD
Today’s Price Change: $0.008 Unchanged
Sector: Mining
Deal Type: Placement
Raise Amount: $1.65M
Latest Entry Price: $0.006 with a 1:1 ESRO
Today’s Price Change: $0.005 -16.67%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $0.3875 +1.97%
Company: Sabre Resources (ASX:SBR)
Sector: Energy
Deal Type: Placement
Raise Amount: $2.6M + $700k strategic
Latest Entry Price: $0.04 with a 1:1 SBROB
Today’s Price Change: $0.031 +6.90%
Company: Carly Holdings Ltd (ASX:CL8)
Sector: AI and Car subscription
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.025 with a 1:2 CL8O
Today’s Price Change: $0.014 Unchanged
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.0225 +2.27%
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