Live ASX News Today
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27th Apr 05:17 PM AEST
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27th Apr 03:13 PM AEST
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27th Apr 03:13 PM AEST
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27th Apr 01:54 PM AEST
Race Oncology (ASX:RAC) reports significant progress on its Three Pillar strategy
Race Oncology Ltd (ASX:RAC) shared its March 2021 quarterly activity report wherein it highlighted its Three Pillar strategy continues to demonstrate effective leverage of the Company’s legacy credentials in breast cancer and Acute Myeloid Leukemia (AML).
The Company also reported outsized returns against Pilar 1 where Bisantrene is being advanced as a potent inhibitor of the Fat Mass and Obesity associated protein (FTO).
RAC also shared that as of March 2021, RAC held cash and equivalents of A$6.47 million, as compared to A$5.58 million on 31 December 2020.
The Company mentioned its shareholders grew from 3,425 at 31 December 2020 to 8,990 holders at 31 March 2021.
Meanwhile, the Company stock was trading at A$3.170 per share, down 2.462% at 1:06 PM AEST.
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27th Apr 01:35 PM AEST
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27th Apr 12:54 PM AEST
Primewest (ASX:PWG) and BlackRock secure Perth Office Tower
Real estate firm Primewest (ASX:PWG) has formed a joint venture with a fund advised by BlackRock Real Assets and has successfully exchanged contracts to buy Perth office tower 140 St Georges Terrace, with settlement likely for late June.
140 St Georges Terrace is a high quality, 30,000 sqm A-grade office building at the epicentre of Perth’s CBD.
PWG will provide project services, property management and leasing services to the JV and will provide a co-investment stake consistent with other institutional real estate mandates.
Meanwhile, the stock was spotted trading at A$1.450 per share, down 0.011% at 12:40PM AEST.
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27th Apr 12:38 PM AEST
Digital Wine (ASX:DW8) posts record 431% hike in revenue, 696% spurt in orders shipped in March quarter
Digital Wine Ventures Limited (ASX:DW8) shared its series of epic surges in March quarter and also provided a summary of the activity undertaken in the three-month period ending 31 March 2021.
Source: © Adambooth | Megapixl.com
Highlights:
- WINEDEPOT processed a total of 29,174 orders in the March quarter, up 627% on the same quarter last financial year.
- The total number of cases shipped over the quarter set a record at 61,939, up 696% on Q3 FY 2020.
- WINEDEPOT business generated total revenue of A$768,458 for the quarter ending 31 March 2021.
- The Company, in March quarter, partnered with Vivino, mobile wine app and largest online wine marketplace.
- Also, DW8 entered into a MoU with eBay.
Meanwhile, riding high on the upbeat update on the quarter, the stock DW8 was spotted trading 3.448% higher at A$0.150 per share at 11:54 AM AEST.
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27th Apr 11:46 AM AEST
BlueScope Steel at more than 12-year-high on earnings outlook hike
The share price of BlueScope Steel Limited (ASX:BSL) soared as much as 8.8% to A$23.99, its highest since October 2008.
The Company expects second-half underlying EBIT between A$1.0 billion and A$1.08 billion, up from previous estimate of between A$750 million and A$830 million.
The Company has reported a hike in outlook due to sharp rise in steel prices since last outlook, as well as improved domestic demand and improved result from the Building Products segment.
Business has gone from strength to strength, benefitting from strong spreads, prices and demand shared BSL.
BSL was among the top-10 percentage gainers in ASX 200 benchmark index on Tuesday.
Meanwhile, at 11:33 AM AEST, the stock was trading at A$22.140 per share, up 0.408%.
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27th Apr 11:45 AM AEST
Palladium extends record highs on supply deficit and robust demand
Source: © Walldemarus | Megapixl.com
Palladium surged to record highs on Monday amid ongoing supply concerns and robust demand.
- Palladium traded at US$2,903.77 per ounce on 27 April 2021 at 4:22 AM AEST after registering an all-time-high of US$2,941 per ounce.
- The metal is used in the automobile industry for catalytic convertor to reduce emissions from automobiles. The stringent vehicle emission standards in China and Europe increased the demand for palladium and buoyed its prices to record levels.
- On the supply side, Russia’s Norilsk Nickel, the world’s largest producer, stated last month that its production could be at least 15 per cent lower than previous estimates due to water problem in mines, leading to mine closures.
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27th Apr 11:40 AM AEST
Oil dips on squeezed demand amid surging COVID-19 cases in India
Source: © Yakobchuk | Megapixl.com
Crude oil dipped yesterday on dented fuel demands amid rising coronavirus cases in the world's third-biggest oil importer and consumer, India.
- Brent crude oil futures for July delivery traded down 0.03 per cent at US$65.15 per barrel on 27 April 2021 at 10:08 AM AEST ,whereas WTI crude oil futures for June delivery traded 0.19 per cent up at US$62.03 per barrel.
- India has registered around five million infection cases in April month alone. The country reported a record spike in COVID-19 cases on the fifth consecutive day on Monday.
- Prices were additionally weighted down on talk that the OPEC+ cartel will increase production despite a fall in demand amid rising cases in India.
- In addition to that, Japan has imposed a third stage of emergency in Osaka, Tokyo and two other regions, starting from Sunday, as the country's nearly quarter population is affected by coronavirus infections.
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27th Apr 11:39 AM AEST
NIB Holdings’ (ASX:NHF) FY21 outlook above estimates, Citi raises price target
As per the financial research firm Citi, NIB Holdings Limited’s (ASX:NHF) FY21 profit guidance is well above its estimates.
Citi has lifted NIB’s Price Target to A$6.40 from A$6.30 per share.
On Monday, the private health insurer said it expects FY21 underlying operating profit to be A$200m-A$225m, above Citi's forecast of A$183m.
Citi stated COVID-29 provision releases, benign claims and further risk equalisation benefits are main causes of the better outcome.
The brokerage shared that Company’s top-line growth is also looking healthier than previously expected as customers hold on to health insurance in a pandemic.
Meanwhile, the stock was trading at A$5.950 per share, up 0.168% at 11:21 AM AEST.
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27th Apr 11:34 AM AEST
Things don’t look bad for Dexus as Sydney office pipeline appears balanced: Morgan Stanley
Financial research firm Morgan Stanley stated that situation is not as dire for Dexus Property Group (ASX:DXS) given pipeline of offices in Sydney's central business district and no major tenants vacating.
It Says Sydney office market will stop deteriorating in next 12 months, though pace of recovery is uncertain but close to a turning point.
It added that 55% of the 273 ksqm of space under construction/refurbishment, due for completion in 2021-22, has been pre-committed; DXS has little exposure to Sydney CBD vacancy levels of +10%.
MS sees 328 ksqm of new office space to be added in Sydney CBD between 2021-26, a large drop from the 415 ksqm assumed prior to the pandemic.
As per MS, Sydney CBD supply looks balanced and not over-supplied, given the pipeline is no different to 20-year average.
DXS derives ~70% of income from office rent, and ~50%-55% of its office portfolio is in Sydney's CBD or nearby.
MS stated potential hit from hybrid or work-from-home flexibility creates some uncertainty for office market, but situation is not as bad as envisioned in mid-to-late 2020.
Meanwhile, DXS shares are trading down 0.896% to A$9.960 per share at 11:15 AM AEST.
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27th Apr 11:12 AM AEST
Downer EDI (ASX:DOW): MS says mining divestment strategy close to complete
Financial research firm Morgan Stanley stated that a sale of Downer EDI Limited’s (ASX:DOW) AX open cut business in Eastern Australia is the last piece of the puzzle in the Australian firm's mining divestment strategy.
MS shared that the unit, which generates about A$600 million of revenue per year, would yield about A$180 million-A$240 million.
The research firm stated that after a mining divestment, Downer's earnings should be less cyclical and the business more cash-generative given a reduction in mining capex by about 60%.
The engineering and construction company on Monday had agreed to sell its tyre management business Otraco to Bridgestone Corp 5108.T for A$79 million.
While, up to Monday's close, stock had risen 1.7% this year, it was spotted trading down 0.831% at A$5.375 per share at 10:48 AM AEST.
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27th Apr 10:53 AM AEST
Tabcorp (ASX:TAH) advances on higher bid for wagering and media arm
The share price of betting firm Tabcorp Holdings Limited (ASX:TAH) gained 4.2% to A$5.00. The stock has hit a near two-week high.
TAH stated Britain's Entain ENT.L has approached the Company with A$3.50 billion proposal to buy its wagering and media business.
Up to Monday's close, the stock had risen 23.1% this year.
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27th Apr 10:52 AM AEST
Bingo Industries (ASX:BIN) soars on takeover by Macquarie (ASX:MQG)
The share price of Bingo Industries Limited (ASX:BIN) jumped as much as 6.7% to A$3.43 in early deals.
BIN, on Tuesday, agreed to be acquired by funds managed by Macquarie Group (ASX:MQG) for A$2.30 billion.
The stock is set for best day in two weeks.
About 9.6 million shares got traded as compared to the 30-day moving average of 1.5 million shares.
Up to Monday's close, stock had risen 31.2% this year.
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27th Apr 10:52 AM AEST
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27th Apr 10:27 AM AEST
Telix Pharmaceuticals (ASX:TLX) finalises strategic manufacturing agreement with Global Medical Solutions
In the latest development, Telix Pharmaceuticals Limited (ASX:TLX) has concluded a strategic manufacturing agreement with Global Medical Solutions, Ltd. (GMS).
The agreement relates to the manufacturing and supply of finished unit doses of TLX’s Molecularly Targeted Radiation (MTR) products for specific clinical development programs.
As per the agreement, GMS shall at first manufacture and deliver finished unit doses of Telix’s TLX591 and TLX592 to locations in Australia for its scheduled ProstACT Phase III and CUPID Phase I clinical trials, respectively.
The agreement shall support manufacturing obligations of TLX for further products and includes potential forthcoming product distribution requirements in the Asia-Pacific region.
The TLX stock was noted at AUD3.800 at 10:13 AM AEST.
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27th Apr 10:17 AM AEST
Copper Mountain Mining (ASX:C6C) posts record quarterly production, shares watchful
Copper Mountain Mining Corporation (ASX:C6C) announced its first quarter 2021 financial and operating results.
The Company registered:
- Record quarterly production in Q1 2021 of 30.4 million pounds of copper equivalent. This included 25.5 million pounds of copper, 8,187 ounces of gold and 160,484 ounces of silver.
- Record C1 cash cost for Q1 2021 of US%1.15/lb copper produced.
- Record revenue for Q1 2021 of $162.2 million, from the sale of 27.5 million pounds of copper, 8,553 ounces of gold and 161,657 ounces of silver.
- Record gross profit of $96.3 million and net income per share of $0.18.
- Cash and equivalents at the end of Q1 2021 of $137.1 million, a rise of $51.5 million from the end of fourth quarter of 2020.
Meanwhile, the last traded stock price of the Company on the ASX was A$4.020 per share.
(All currency are to be read in Canadian Dollar, unless otherwise stated)
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27th Apr 10:17 AM AEST
Kalium Lakes (ASX:KLL) inks expanded land access agreement
Kalium Lakes Limited (ASX:KLL) has signed a variation to the current Land Access Agreement with the Marputu Aboriginal Corporation RNTBC, representing the Gingirana People. The latest change describes the production area at the Beyondie SOP Project (BSOPP) to cover the area of the proposed mining leases, comprising Ten Mile West.
KLL shall now move ahead with lodging the needed mining tenure application over the Ten Mile West tenement to enable access for additional development works, including the installation of additional bores and trenches to facilitate the multiplied short term production target of 120Ktpa.
The KLL stock was noted at AUD0.210 at 10:02 AM AEST.
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27th Apr 09:58 AM AEST
Skyfii (ASX:SKF) completes A$0.7 million Share Purchase Plan
Skyfii Ltd (ASX:SKF) on Monday shared that it has completed its share purchase plan that was announced on ASX on 6 April 2021.
As shared earlier, the Company sought to offer a maximum of A$1 million under the SPP.
The SPP received applications from shareholders totalling around A$0.7 million and will issue 4,015,163 new Skyfii shares.
Together with this SPP, Skyfii, with the proceeds of the earlier placement announced, has raised a total of A$10.7 million. This will be used to fund the acquisition of CrowdVision as well as working capital requirements and for resourcing purposes in the U and US markets.
Meanwhile, the last traded price of the stock was A$0.155 per share.
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27th Apr 09:49 AM AEST
Reliance Worldwide (ASX:RWC) reports strong sales across all regions during March quarter
Reliance Worldwide Corporation Limited (ASX:RWC) has reported net sales of AUD359.4 million for the quarter ended 31 March 2021. This indicates a growth of 14% versus the prior corresponding period and were negatively impacted by the strength of the Australian dollar comparative to other currencies, especially the US Dollar.
The Company recorded strong sales across all regions, indicating resilient demand for plumbing products that was steered through the improved spending on residential repairs and remodelling.
Moreover, the Company reported that its sales to date for April 2021 are significantly ahead of the same period last year.
The RWC stock last traded at AUD4.880 on 26 April 2021.
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27th Apr 09:48 AM AEST
Life360 (ASX:360) cracks deal to acquire Jiobit
San Francisco-based Life360, Inc. (ASX:360) has inked a non-binding term sheet with an intention to acquire Jiobit, indicating the initial stage of the strategic review that the Company announced earlier in 2021.
Jiobit offers wearable location devices for young children, pets, and seniors as well as a comprehensive location-aware safety solution for families that is accurate, secure, reliable and real-time.
As total consideration, 360 might issue up to around 2.42 million shares using its present placement capacity under ASX Listing Rule 7.1.
360 shall continue with the evaluation of strategic as well as financial opportunities that would expedite progress towards the Company’s vision of becoming the dominant platform for an enhanced suite of family services.
The 360 stock last closed at AUD5.230.
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27th Apr 09:31 AM AEST
Angel (ASX:AS1) starts the 2021 sales season, delivers record March quarter result
Angel Seafood Holdings Limited (ASX:AS1), the biggest producer of certified organic and sustainable pacific oysters in the Southern Hemisphere, shared its quarterly update for the period ending 31 March 2021.
Highlights:
- Record 1.3 million oysters sold, up21% on the previous corresponding period.
- Oyster dales resumed following summer spawning period; momentum seen in the lead up to Easter.
- Biomass increased 42% following good growth rates across all bays during summer.
- Record 33 million oysters on hand to cater for growing demand.
- The Company received a quarterly revenue result of A$1.0 million, up 15% on pcp, with underlying prices of oysters remaining steady.
Meanwhile, the last traded price of the stock on the ASX was A$ 0.150 per share.
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27th Apr 09:31 AM AEST
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27th Apr 09:19 AM AEST
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27th Apr 09:12 AM AEST