How are you this morning?
Powell just finished, and here is the updated probability that the Fed will hike 50 next week.
See pic below.
Across markets…
Australian shares are poised to drop at the open, in line with the currency, as the US central bank is set to lift rates higher, for longer, and potentially at a faster pace too. Both oil and gold fell sharply.
ASX futures were down 64 points or 0.87 per cent to 7268 near 6.45am AEDT.
The local currency tumbled 2.2 per cent to US65.83¢ at 6.45am AEDT; the Bloomberg dollar spot index was 1 per cent higher.
The currency’s drop reflects the prospect of a further widening yield gap between US and Australian government bonds as US rates are set to rise while the RBA on Tuesday signalled it was poised to hit pause soon.
Source: AFR
Heading into a potential recession the mood around the listed equity space should be less bullish than it is.
But the ASX is a special case in the global equity world, given its high penetration and domination by resources stocks.
Prices for commodities remain high, and the long term outlook for metals tied to the energy transition thematic, expecting big kicks in demand from electric vehicles and renewable energy, appears to be enduringly positive.
At the same time, the supply of these metals is limited and big and medium players are bound to be keen to get their hands on more.
With its $9.6 billion cash bid for OZ Minerals (ASX:OZL), BHP (ASX:BHP) delivered a big signal that miners who have been stingy in recent years, returning cash to shareholders in penance for years of poor decisions during the last mining boom, were back on the look out for major acquisitions.
While others have not been so keen to engage in major deals, like Rio Tinto (ASX:RIO) boss Jakob Stausholm who said it would be “sad” if its internal growth strategy were to be diverted by major M & A, there are plenty of hints more is on the way.
6Mozpa gold giant Newmont’s unsuccessful $24.5b bid for Aussie peer Newcrest (ASX:NCM) was a hint more consolidation will come in the gold space.
Source: Stockhead
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.285 Unchanged
Company: Unith Ltd. (ASX:UNT)
Sector: AI/ChatGPT
Deal Type: Placement
Raise Amount: $4.5M
Latest Entry Price: $0.033 with a 1:1 UNTO
Today’s Price Change: $0.031 Unchanged
Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
Deal Type: Placement
Raise Amount: $5.75M
Latest Entry Price: $0.011
Today’s Price Change: $0.012 Unchanged
Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.03 with a 1:3 CDTOA
Today’s Price Change: $0.021 -4.55%
Company: Avenira Ltd. (ASX:AEV)
Sector: Phosphate
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.01 with a 1:2 Listed Option
Today’s Price Change: $0.014 Unchanged
Company: Latrobe Magnesium Ltd. (ASX:LMG)
Sector: Magnesium
Deal Type: Placement
Raise Amount: $3M & $11.5M
Latest Entry Price: $0.10 with a 1:4 LMGO
Today’s Price Change: $0.067 -4.29%
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: $0.57 +6.54%
Company: Tymlez Ltd (ASX:TYM)
Sector: Blockchain
Deal Type: IPO/On-market purchase
Raise Amount: $13.3M
Latest Entry Price: $0.01
Today’s Price Change: $0.014 -6.67%
Company: iCandy (ASX:ICI)
Sector: Gaming & Digital Advertising
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.02 with a 1:1 ICIOB
Today’s Price Change: $0.049 -3.92%
Company: Fatfish Group (ASX:FFG)
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.018 +5.88%
Company: Lobe Sciences (CSE:LOBE)
Sector: Medtech
Deal Type: Pre-IPO
Raise Amount: $1.5M
Latest Entry Price: $0.05 with a 1:1 Warrants
Today’s Price Change: $0.04 +14.29%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $1.395 +1.09%
Company: ReNu Energy Limited (ASX:RNE)
Sector: Energy
Deal Type: Placement
Raise Amount: $1.46M
Latest Entry Price: $0.06 with a 1:1 RNEO
Today’s Price Change: $0.051 -1.92%
Company: Cipherpoint Limited (ASX:CPT)
Sector: Cybersecurity
Deal Type: Placement
Raise Amount: $2.9M
Latest Entry Price: $0.005 with a 1:1 Listed Option
Today’s Price Change: $0.006 Unchanged
Company: Metals Australia Limited (ASX:MLS)
Sector: Lithium/Graphite
Deal Type: Placement
Raise Amount: $7.8M
Latest Entry Price: $0.078 with 1:1 MLSOD
Today’s Price Change: $0.045 -2.17%
Company: BBX Minerals Ltd (ASX:BBX)
Sector: Mining
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.082 with a 1:1 BBXOA
Today’s Price Change: $0.105 Unchanged
Company: Avecho Biotechnology (ASX:AVE)
Sector: CBD
Deal Type: Placement
Raise Amount: $5M
Latest Entry Price: $0.022 with a 1:2 AVEO
Today’s Price Change: $0.01 Unchanged
Company: ECS Botanics Holdings Ltd (ASX:ECS)
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.022 -4.35%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak on 1300 304 460
