The ASX200 is set to rise on Thursday, potentially even getting back to 9,000pt levels, according to futures ahead of market open. Overnight the S&P500 closed +0.40% higher, the NASDAQ up +0.66%.
The mood in the room down under feels to have changed palpably this week after China’s latest move to curb rare earth exports lit a fire under the hood of Australian REE juniors.
This all comes despite Wall Street’s sentimentality index currently sitting on ‘fear’, though, that’ still accounting for big drops after last week’s short-lived tariff scare.
There may be other issues at home, too. We learned from the RBA on Wednesday that inflation is stronger than anticipated down under, but after already getting 3 cuts this year, it’s possible that doesn’t really count for much.
Looking at company news around the traps:
Treasury Wine Estates has painted a bleaker picture than originally thought when it comes to Chinese sales with the company’s chair stating sales will be “well below” an already vague downgraded guidance.
Troubled Boss Energy has reported it has found fresh uranium mineralisation “discovered adjacent to Alta Mesa.”
Meeka Metals has reported hitting 22m @ 3.25g/t gold on-site its landholding portfolio, the most watched pre-open announcement on HotCopper for Thursday.
As for a commodities snapshot:
