Happy Friday!
That was a quick week after the long weekend…
US President Biden has signed a whopping $US1.9 trillion stimulus bill into law on Thursday (Friday AEDT) commemorating the one-year anniversary of a US lockdown over the corona virus pandemic.
In Other news…
Woodside has kicked off talks with gas infrastructure owners and financial investors about buying a stake in its Pluto Tran 2 Development in WA.
Woodside has mandated Morgan Stanley and Rothschild to help with the selldown, and
has had the bankers approaching potential buyers in recent weeks.
Across markets…
Australian shares are set to open higher with equities closing higher in Europe and resetting records in New York.
ASX futures were up 36 points or 0.5% to 6755 near 6.55am AEDT. The currency advanced 0.7 per cent. The yield on the US 10-year note was up 1 basis point to 1.53 per cent near 3pm in New York.
On Wall Street, techs help power a broad rally. At 3.02pm, the Dow was up 239 points or 0.7 per cent, paring some of its earlier advance; 20 of its 30 components were higher paced by Nike, Microsoft and Boeing.
The S&P 500 reset its record high; nine of its 11 industry groups lifted, led by information technology and communication services. More than 400 stocks in the benchmark advanced at one point, Reuters reported.
The NYSE Fang + Index was 3.5 per cent higher near 3pm. Tesla was up 3.7 per cent, briefly trading at $US700 a share; the stock closed below $US550 last Friday.
Source: AFR
Could gold prices have hit bottom? The precious metal had slipped below the $US1,690 ($2,181.68) mark before rebounding to $US1,730.10 an ounce after US bond yields retreated and the US Government passed a $US1.9 trillion COVID-19 relief bill.
DoubleLine chief executive Jeffrey Gundlach certainly believes some, saying that the low of $US1,681 an ounce it hit on Monday could be the lowest level that gold would drop to for some time.
“Gold has really underperformed other froth assets like Bitcoin by incredible amounts, almost inconceivable amounts since that peak in gold above $2,000,” he said during a webinar, adding that it is now very likely to bounce because of how powerful the selloff had been.
“Long-term gold is pretty interesting. Our model shows that gold is at fair value at $1,761,” Gundlach added.
UK research firm Capital Economics added that while it had downgraded its outlook on gold for the year, it believed that the price is close to the bottom.
Sector: Consumer Discretionary
Year: 2019
Deal Type: Placement
Raise Amount: $2.2m
Price Change: $0.10 +14.94%
Sector: Consumer Discretionary
Year: 2018, 2019
Deal Type: Seed, Bridging and IPO
Raise Amount: $10m
Price Change: $0.24 +4.35%
Sector: Technology
Year: 2018
Deal Type: Seed and IPO
Raise Amount: $10m
Price Change: $0.036 +9.09%
Sector: Mining
Year: 2017
Deal Type: Seed & IPO
Raise Amount: $5m
Price Change: $0.18 +9.09%
Sector: Mining
Year: 2017
Deal Type: IPO & Placement
Raise Amount: $6m
Price Change: $0.052 Unchanged
Sector: Healthcare Equipment and Services
Year: 2016
Deal Type: IPO
Raise Amount: $8m
Price Change: $0.12 -4.00%
Sector: Materials
Year: 2016
Deal Type: IPO
Raise Amount: $9m
Price Change: $0.026 +4.00%
Sector: Biotechnology
Year: 2015, 2017, 2018
Deal Type: Placements & IPO
Raise Amount: $5m
Price Change: $2.32 -1.28%
Sector: Media an Entertainment
Year: 2016
Deal Type: Reverse Takeover
Raise Amount: $4m
Price Change: $0.037 Unchanged
Sector: Mining
Year: 2018, 2019, 2020
Deal Type: Placements & Rights Offer
Raise Amount: $1.5m
Price Change: $0.010 -9.09%
Sector: Discretionary
Year: 2020
Deal Type: Placement
Raise Amount: $1.3m
Price Change: $0.068 Unchanged
Sector: Gaming
Year: 2020
Deal Type: Placement
Raise Amount: $1.25m
Price Change: $0.10 -4.55%
Sector: Mining (Gold)
Year: 2020
Deal Type: Placement
Raise Amount: $982k
Sector: Mining (Gold/Silver)
Year: 2020
Deal Type: Placement
Raise Amount: $2.3m
Price Change: $0.010 +11.11%
Sector: Hemp & CBD
Year: 2020
Deal Type: Pre IPO
Raise Amount: $2.5m
Sector: Psychedelic assisted therapy
Year: 2020
Deal Type: Placement
Raise Amount: $2.5m
Price Change: CAD $0.15 -3.23%
Sector: Mining
Year: 2020
Deal Type: Placement
Raise Amount: $330k
Price Change: 0.12 +4.17%
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