Here's a recap of the top 3 things you missed yesterday, as we kick off the start of a big week on for the ASX 200.
What you missed on the ASX on Monday
The S&P/ASX 200 Index (INDEXASX: XJO) edged 1.5 points (0.02%) higher to 6,740.7 points as at market close.
The broader All Ordinaries Index (INDEXASX: XAO) also added 1.5 points to close at 6,842.5.
1. ASX lithium stocks are rising
On a day that failed to move the broader index, ASX lithium stocks led the way for the ASX 200.
Pilbara Minerals Ltd (ASX: PLS), Galaxy Resources Limited (ASX: GXY) and Orocobre Limited (ASX: ORE) all climbed higher on Monday.
The Pilbara Minerals share price surged 10.71% higher while Galaxy and Orocobre shares climbed 6.59%, and 5.63%, respectively.
Pilbara Minerals released a weaker trading update yesterday evening, making it one to watch in trade today.
2. Sims Metal Management Ltd (ASX: SGM) share price tanks
The Sims Metal share price plummeted 8.82% on the markets yesterday, although it has bounced back somewhat in morning trade today.
Sims flagged an underlying earnings before interest and tax (EBIT) loss of $20 million to $30 million in a 1H 2020 trading update.
Management pointed to a collapsing sell price for ferrous scrap and market illiquidity as key factors behind the expected loss.
A strong balance sheet is something to calm investors but trading conditions look set to remain difficult for Sims in 2020.
3. National Australia Bank Ltd (ASX: NAB) expands fintech footprint
The NAB share price closed 0.1% lower at $29.15 per share yesterday.
This came despite NAB's new $50 million debt funding deal with Aussie fintech Wisr Ltd (ASX: WZR).
Wisr shares closed 12% higher at $0.14 per share having rocketed as much as 30% during Monday's trade.
NAB's strong belief in the non-bank lender's business model was cited as a key reason behind the deal which could be expanded to $200 million.
NAB is currently trading for $29.02 today, and I would expect the NAB share price to remain largely steady ahead of the bank's full-year results announcement on 7 November.
