ASX Today: Local bourse tipped for a flat Tuesday

ASX News
05 Mar 2024 09:09 (AEDT)

ASX200 futures were trading flat near 8.30am AEDT on Tuesday, down 0.04%.

The overnight session in the US saw the S&P500 finish down -0.12% and the NASDAQ down -0.41%.

After hitting 15 all time highs YTD, it looks like the US market gave a little back. There’s also the issue that a small but growing chorus of voices is starting to question whether the Fed will cut this year at all. I know – bummer, right?

Members of that chorus include Apollo Chief Economist Torsten Slok, who notes inflation expectations are rising in a US economy not really showing signs of slowing down.

This week in the US we get crucial jobs data which will indicate just what the economy is and isn’t doing. Partially, at least.

China’s ‘Two Sessions’ meeting kicks off today and many are wondering whether we’ll see any relief for iron ore prices. Worth noting is that a yearly press conference attached to the event has been cancelled for 2024.

At 11.30am AEDT, we get Australian data on the net contribution of exports to GDP.

Here’s what stocks are catching eyes this morning:

Nickelsearch Limited (ASX:NIS) has issued an exploration update.

This relates to its Carlingup play.

The company has struck new lithium drilling targets.

Shares last at 3.6c.

Encounter Resources (ASX:ENR) has issued news in a similar vein.

This relates to its Paterson Province assets.

The company has detected what it believes is a “significant copper anomaly.”

Shares last at 29.5c.

Elsewhere, Mako Gold (ASX:MKG) has issued an exploration update of its own.

In this instance, Mako is referring to its Tchaga North asset.

A series of high grade gold rockchips have expanded drill targets, as far as geotechs see it.

Shares last at 1.3c.

Africa-based Noble Helium (ASX:NHE), an explorer for what you’d think, have made an update.

This relates to the company’s much-touted Mbelele asset.

The company reports a “significant probable free gas cap.”

Shares last at 8.7c.

Finally, Lucapa Diamonds (ASX:LOM) has released news to the market.

This relates to a recent discovery.

Lucapa is reporting that two 100+ carat diamonds have been pulled.

Shares last at 2.2c.

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