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The morning catch up: ASX set to fall ahead of Guzman Y Gomez listing; US markets closed for Juneteenth

Published 20/06/2024, 09:27 am
© Reuters.  The morning catch up: ASX set to fall ahead of Guzman Y Gomez listing; US markets closed for Juneteenth
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The ASX will likely fall in early trading – ASX Futures are down 21.6 points or 0.28% as of 8:40 am (AEST) this morning, continuing yesterday’s downward trend.

Energy and particularly uranium stocks were the only real winners yesterday – the bourse looked like it might be set for a day in the green overnight; futures were up 0.11% as of about 10pm but with the US market closed for the Juneteenth holiday, momentum reversed into another slide.

Tex Mex-inspired fast food chain Guzman Y Gomez will list on the ASX at noon today, having raised $335 million in its initial public offering, the most successful Aussie IPO in almost a year.

On the other side of the ledger, HSBC stocks may experience some movement today, after it was revealed the company violated money laundering regulations in Switzerland.

What happened overnight?

It was a mixed bag for European markets overnight, with indices mostly falling.

The UK FTSE100 was the exception, gaining 0.17%. The FTSE300 moved in the opposite direction, shedding 0.15%.

The French CAC shed 0.77%, the German DAX 0.35% and the pan-European STOXX 600 0.17%.

US futures are also mixed at present, with some upward movement likely for the Nasdaq (+0.19%) and perhaps the S&P500 (+0.03%) but not for the Dow Jones (-0.16%).

There was little movement in the commodities market overnight with US markets closed – West Texas crude dipped 0.12%, gold marginally lifted (0.08%), and base metals also received a small bump, with copper futures up 0.51% and aluminium 0.22%.

On the small cap front

The ASX Small Ordinaries lifted 0.21% or 6 points yesterday, beating the ASX200’s 0.12% dip.

You can read about the following and more throughout the day on our website.

  • Brookside Energy Ltd (ASX:BRK, OTC:RDFEF) has completed drilling at the multi-well Flames-Maroons Development Plan ahead of schedule, in the core of the southern SCOOP Play in the Anadarko Basin.
  • Evion Group NL (ASX:EVG, OTC:EVIGF) is ramping up toward full production with its expandable graphite joint venture project, with all permits, infrastructure and treatment plants in place.
  • Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has welcomed an infrastructure upgrade under the Government of Malawi’s Rail Strategy and Growth Plan, which will upgrade a 399-kilometre section of railway running through the company’s tenements at the Kasiya Rutile-Graphite Project.
  • Green Technology Metals Ltd (ASX:GT1, OTC:GTMLF) has appointed a new managing director with existing executive director Cameron Henry stepping into the role.
  • Rumble Resources Ltd (ASX:RTR, OTC:RTRFF) has completed an entitlement issue of shares, raising just over $1 million, with the funds to go to ongoing drilling at the Western Queen Project in WA.
  • Read more on Proactive Investors AU

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