ADVANCED SHARE REGISTRY Stocks fell Friday as GOP negotiators halted ongoing debt ceiling negotiations, stoking doubt of a deal being reached soon. However, the S&P 500 notched its best week since March. The Dow Jones Industrial Average dropped 109.28 points, or 0.33 per cent, to 33,426.63. The S&P 500 slipped 0.14 per cent to 4,191.98. The Nasdaq Composite slid 0.24 per cent to 12,657.90.
Stocks turned lower Friday after GOP negotiators walked out of a debt ceiling meeting, with Rep. Garret Graves, saying the White House team is "unreasonable," according to NBC News. Friday's losses were kept in check, however, after Federal Reserve Chairman Jerome Powell said interest rates may not have to rise as much as expected to quell inflation.
On the lithium front, resources giant POSCO claims that it is 40 per cent cheaper to construct a lithium processing plant in South Korea compared to Australia, citing clear cost advantages in Asia. The decision to build the plant in South Korea comes as South Korean government agencies provide significant loans towards its construction, which will process Australian lithium ore into higher value lithium hydroxide for battery production.
Across the Atlantic, European markets closed higher. London's FTSE added 0.19 per cent, Frankfurt gained 0.69 per cent while Paris closed 0.61 per cent higher. In Asian markets, Tokyo's Nikkei gained 0.77 per cent, Hong Kong's Hang Seng lost 1.40 per cent while China's Shanghai Composite closed 0.42 per cent lower.
Iron ore futures are pointing to a 0.3 per cent fall. Gold gained 1.11 per cent. Silver added 1.81 per cent. Copper rose 1.15 per cent and oil fell 0.43 per cent.
| Dow Jones | 33,426.63 | -109.28 | -0.33% |
|---|---|---|---|
| US S&P 500 | 4,191.98 | -6.07 | -0.14% |
| US Nasdaq | 12,657.90 | -30.94 | -0.24% |
| UK FTSE 100 | 7,756.87 | +14.57 | +0.19% |
RECENT INDIAN OCEAN SECURITIES TRANSACTIONS
| Balkan Mining Minerals Limited (ASX:BMM) | Mining Exploration Sector | IPO at $0.20 | Price Change from IPO Investment: + $0.175 / 85.50% |
|---|---|---|---|
| Smart Auto Australia Limited (NSX:SAL) | Electric Commercial Vehicles Sector | IPO at $0.10 | Price Change from IPO Investment: + $0.10 / 100% |
| Azure Health Technology Limited (NSX:VTL) | Health Technology | IPO at $0.20 | Price Change from latest Investment entry: - 0.05 / 25% |
| Albion Resources Limited (ASX:ALB) | Diversified Metals & Mining | IPO at $0.20 | Price Change from latest Investment entry: - $0.015 / 7.5% |
| Sprintex Limited (ASX:SIX) | Auto Parts & Equipment | IPO at $0.086 | Price Change from latest Investment entry: - $0.013 / 15.12% |
| Jadar Resources Limited (ASX:JDR) | Diversified Metals & Mining | Private Placement at $0.03 | Price Change from latest Investment entry : - $0.007 / 23.33% |
| Krakatoa Resources Limited (ASX:KTA/KTAOC) | Gold Sector | Private Placement at $0.06 | Price Change from latest Investment entry : - $0.008 / 13.33% |
| PYX Resources Limited (NSX:PYX) | Diversified Metals & Mining | IPO at $0.40 | Price Change from latest Investment entry: + $0.76 / 190% |
| Cokal Limited (ASX:CKA) | Steel Sector | Funding at $0.04 | Price Change from latest Investment entry: + $0.036 / 90% |
| Cyclone Metals Limited (ASX:CLE) | Steel Sector | Placement: at $0.0017 | Price Change from latest Investment entry: + $0.0073 / 429.41% |
| Food Revolution Limited (ASX:FOD) | Packaged Foods & Meat | Placement at $0.035 | Price Change from latest Investment entry : - $0.0007 / 20% |
| Synertec Corporation Limited (ASX:SOP) | Technology Sector | Placement at $0.023 | Price Change from latest Investment entry: + $0.077 / 334.78% |
| Douugh Limited (ASX:DOU) | Wireless Telecommunications Services | Placement at $0.020 | Price Change from latest Investment entry: + $0.074 / 370% |
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The information provided was based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. To the extent permitted by law, neither Advanced Share registry (ABN 14 127 175 946) nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The report has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on the information in this report, consider the appropriateness of the information, having regard to the individual's objectives, financial situation and needs and, if necessary, seek appropriate professional advice. This report does not purport to be a complete statement or summary.
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Advanced Share Registry Limited published this content on 22 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 May 2023 07:29:05 UTC.