ASX set for a flattish red day after moderate US session

ASX News
27 Feb 2024 09:28 (AEDT)

The ASX200 is set to trade flattish red with futures reflecting -0.05pc near 8.30am AEDT.

The market absorbed the overnight session in US and Europe with caution as the S&P500 ended down -0.38pc.

We got US new home sales and US building permits for January overnight, but the contagious positive sentiment driving up markets remains what markets are watching.

Or not watching – though, NVIDIA continued to perform and the NASDAQ ended down only -0.13pc.

Tomorrow’s Australian CPI data could change things for Australia, though, I’m interested to see what impact any undesirable Australian CPI read could have against the larger force of a strong US bull run – assuming we get no worse big surprises on the NASDAQ tonight.

Here’s what stocks are catching eyes this morning:

Ecograf (EGR) Limited has issued an update on recycled graphite.

The company has drawn on “German Research.”

EGR believes this research further validates the use of recycled graphite.

Shares last at 14.5c.

Alkane Resources (ALK) has updated on its gold project.

Specifically, the Tomingley Gold Project.

Reserves on-site have lifted to 664,000 ounces.

Shares last at 50c.

Boss Energy (BOE) has added to its project portfolio.

The uranium miner has acquired another North American uranium mine.

This comes as uranium prices remain around the US$100/lb mark.

Shares last $4.67/sh.

Metals X (MLX) has issued an exploration update.

Today’s relates to the Renison Tin project.

The company has released a series of assay results.

Shares last at 29c.

Toro Energy (TOE) has also made a uranium update.

The company is regarding its Wiluna Uranium project.

The company says a pilot plant will unlock value on-site and ink a way forward for the asset.

Shares last at 37c.


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