The ASX200 is set to fall -0.23% after a directionless evening that saw US markets shut for US independence day.
European stocks climbed higher as French markets continue to shake off election concerns and as the UK election looks set to see a Labour government take the country. Analysts predict that party to take 410 seats in the country after a tumultuous year of leadership changes. The broad Euronext index jumped nearly a quarter of a percent in overnight trade.
In Australia, we get finalised retail sales data for May from the ABS, and we also get the Australian monthly household spending indicator. The data series is unlikely to have any meaningful on the direction of trades.
Looking at the ASX,
Antipa Minerals (ASX:AZY) has seen international miner Newmont exercise its top-up right for AZY securities, maintaining its 8.6% shareholding in the company.
The top-up placement only awards Antipa with around $540,000 in new equity, bringing total recent raised cash to $7.25M to go towards the Minyari Dome gold-copper project.
Elsewhere, HotCopper users are closely watching iTech Minerals (ASX:ITM) pre-trade on Friday with that company reporting high-grade rock chips.
One sample returned a read of 182g/t odf gold from samples collected at Reynolds Range, though, rockchips tend to be reliably higher than underground mineralisation.
Finally, Auric Mining (ASX:AWJ) has announced its accumulation of $3M in cash across Q4 of FY24 from gold sales.
The company expects that operators of the Coolgardie Mill will mill an additional 150,000 tonnes of ore starting in late July.
In forex,
The Aussie dollar has also hit a 6 month high as traders consider whether the RBA could raise interest rates even further.
In commodities, brent crude jumped nearly a percent overnight to over $87 American dollars and gold decreased nearly point one of a percent to $2,356 American. Iron ore has rebounded to $114 American dollars per tonne and US natgas futures are fetching $2.36 American per gigajoule.
We’ll be with you later in the trading day, I’m Jonathon Davidson and that’s Market Open.
