Good morning Dan,
Ouch ouch ouch!!!
A hard day is looming for ASX tech stocks as the Nasdaq tumbles 3 per cent overnight…
In other news…
Westpac has reached an agreement to pay $1.3b in relation to their admitted contraventions of the Anti-Money Laundering and Counter-Terrorism and Financing Act 2006 (AML/CTF Act)
Across Markets…
Last night, stocks slumped to an eight-week low amid warnings from Federal Reserve officials on the need for more stimulus to lift the world’s largest economy from a coronavirus-induced recession. The dollar rallied.
The S&P 500 closed near the threshold that many investors consider to be a market correction, while the Nasdaq 100 tumbled more than 3%, led by giants Apple Inc. and Amazon.com Inc. Fed Chairman Jerome Powell reiterated there’s a long way to go for the economic rebound, which will likely require more support.
The need for further aid was also stressed by Vice Chairman Richard Clarida, Governor Randal Quarles and regional chiefs Charles Evans, Loretta Mester and Eric Rosengren.
The warnings come days after Congress all but ended its pursuit of a bipartisan spending bill to focus on replacing Ruth Bader Ginsburg on the Supreme Court.
It’s another blow to investors who are also watching virus cases tick higher in the U.S. amid a resurgence in infections around the world.
Traders are growing cautious about the strength of the economic recovery, with the chances for Congressional stimulus withering ahead of a contentious election battle. The benchmark gauge of U.S. equities is poised for its first monthly slide since March.
“Markets are digesting and grappling with this idea that the growth expectations that investors have might not materialize,” said Lauren Goodwin, economist and multi-asset portfolio strategist at New York Life Investments. “As the fiscal impulse in the U.S. starts to wane, some of these expectations for a slow and steady recovery are shaken.”
The SPI is down 55 points this morning.
Source: Bloomberg
Stocks
The S&P 500 declined 2.4% at 4 p.m. New York time.
The Stoxx Europe 600 Index rose 0.6%.
The MSCI Asia Pacific Index fell 0.2%.
Currencies
The Bloomberg Dollar Spot Index jumped 0.7%.
The euro fell 0.4% to $1.1659.
The Japanese yen depreciated 0.4% to 105.40 per dollar.
Bonds
The yield on 10-year Treasuries rose less than one basis point 0.68%.
Germany’s 10-year yield was unchanged at -0.51%.
Britain’s 10-year yield increased two basis points to 0.218%.
Commodities
West Texas Intermediate crude fell 0.7% to $39.52 a barrel.
Gold depreciated 2.1% to $1,859.48 an ounce.
Silver depreciated 7.3% to $22.62 per ounce.
Source: Bloomberg
Another chapter in the renaissance of the Victorian goldfields begins today with the listing of North Stawell Minerals on the ASX.
North Stawell shares are scheduled to start trading under the ticker code of NSM at 11.30am AEST after the company wrapped up its $20 million initial public offering earlier this month.
It will be the first Victorian gold float to list on the ASX since Navarre Minerals in 2010. However, there was a Victorian gold float that listed on the TSX Venture Exchange in April that offers a more recent proxy of sorts.
Fosterville South Exploration, which owns the Lauriston gold project to the south of Kirkland Lake Gold’s Fosterville mine, one of the biggest and highest grade gold operations in the country, saw its share price increase 500% within three months of debuting on the TSX-V.
Sector: Consumer Discretionary
Year: 2019
Deal Type: Placement
Raise Amount: $2.2m
Price Change: $0.055 -1.85%
Sector: Consumer Discretionary
Year: 2018, 2019
Deal Type: Seed, Bridging and IPO
Raise Amount: $10m
Price Change: $0.14 Unchanged
Sector: Technology
Year: 2018
Deal Type: Seed and IPO
Raise Amount: $10m
Price Change: $0.11 +4.76%
Sector: Mining
Year: 2017
Deal Type: Seed & IPO
Raise Amount: $5m
Price Change: $0.18 Unchanged
Sector: Mining
Year: 2017
Deal Type: IPO & Placement
Raise Amount: $6m
Price Change: $0.063 +5.00%
Sector: Healthcare Equipment and Services
Year: 2016
Deal Type: IPO
Raise Amount: $8m
Price Change: $0.044 -2.22%
Sector: Materials
Year: 2016
Deal Type: IPO
Raise Amount: $9m
Price Change: $0.025 Unchanged
Sector: Biotechnology
Year: 2015, 2017, 2018
Deal Type: Placements & IPO
Raise Amount: $5m
Price Change: $2.41 +1.69%
Sector: Media an Entertainment
Year: 2016
Deal Type: Reverse Takeover
Raise Amount: $4m
Price Change: $0.032 +3.23%
Sector: Mining
Year: 2018, 2019, 2020
Deal Type: Placements & Rights Offer
Raise Amount: $1.5m
Price Change: $0.0080 +14.29%
Sector: Discretionary
Year: 2020
Deal Type: Placement
Raise Amount: $1.3m
Price Change: $0.0060 Unchanged
Sector: Gaming
Year: 2020
Deal Type: Placement
Raise Amount: $1.25m
Price Change: $0.068 -2.86%
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: $0.016 Unchanged
Sector: Hemp & CBD
Year: 2020
Deal Type: Pre IPO
Raise Amount: $2.5m
Price Change: CAD $0.16 -3.03%
Sector: Mining
Year: 2020
Deal Type: Placement
Raise Amount: $330k
Price Change: 0.056 +3.70%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
