Live ASX News Today
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30th Apr 04:10 PM AEST
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30th Apr 03:55 PM AEST
Bulletin Resources (ASX:BNR) gains on tenement grant in WA
The shares of Bulletin Resources Limited (ASX:BNR) rose as much as 2.9% to A$0.071 on Friday.
The Gold explorer stated Western Australian Department of Mines Industry Regulation and Safety has granted the Company with a new 57 square kilometre tenement near Ravensthorpe in Western Australia.
BNR informed that tenement contains known lithium bearing pegmatites and also has potential for gold.
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30th Apr 03:43 PM AEST
Australian miners set to post weekly drop in seven as commodity prices decline
Australia's metals and mining index AXMM shed off as much as 1.5%, eyeing worst day since 21 April 2021 and headed for a weekly loss of 0.2%.
This will be AXMM's first weekly loss after six straight gains on iron ore and steel hitting multiple record highs due to surge in Chinese demand.
Iron ore and steel eased on Friday but were still set to end the week higher.
Copper prices edge lower, after touching a 10-year high, as investors gauge the impact of high prices on demand for the industrial metal ahead of holidays in London and Chinese bourses.
Sector heavyweights BHP Group Limited (ASX:BHP) and Rio Tinto (ASX:RIO) both declined as much as 1.8%.
Copper miner Sandfire Resources NL (ASX:SFR) is one of the biggest losers on the subindex, down as much as 5.3%.
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30th Apr 03:31 PM AEST
Beach Energy (ASX:BPT) shares tumble on downgrade in production forecast
The share price of the ASX 200-listed stock Beach Energy Limited (ASX:BPT) declined as much as 22.024% at A$1.310 per share as the Company shared ‘mixed’ results for the March quarter.
The Company downgraded its FY21 production guidance and Western Flank 2P oil and gas reserves.
The quarterly production reached 5.9 MMboe – a 5% reduction on the previous quarter while, sales revenue rose 14% to A$393 million.
The sales volumes were down 4% on the previous quarter to 6,207 kboe.
However, total sales revenue of A$393 million was 14% higher than the previous quarter due to a rise in realised pricing across all products, offset by lower oil and gas sales volumes.
The Company shared that FY21 production guidance has been impacted by:
- Lowered reservoir performance and natural field falls within Western Flank oil fields.
- Fewer customer nominations for the Victorian Otway.
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30th Apr 03:15 PM AEST
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30th Apr 03:08 PM AEST
Ketone Dairy (ASX:KTD) posts record sales in March quarter
The fourth and final quarter of Keytone Dairy Corporation Limited (ASX:KTD) registered an ‘extraordinary’ year of strong triple growth for the business, the Company stated via an announcement today.
The period from 1 January 2021 to 31 March 2021 concluded a year of several milestones across KTD business.
- The consolidated revenues were reported at A$50.7 million, 125% up from FY 2020.
- The New Zealand Dairy business had a record sales quarter of A$3.4 million and posted a surge in EBITDA realising a positive swing of A$1.5 million from a previous year loss of A$778 thousand.
- The net cash used in operating activities rose A$3.0 million.
- The Company retained a strong cash balance of A$4.1 million and undrawn debt facilities of A$1.8 million.
- Sales for the consolidated group totalled A$13.2 million from Q4 FY21 compared with A$13.0 million in Q3 FY21 and a 52% uplift from A$8.7 million in the previous corresponding period of Q4 FY20.
Meanwhile, the stock traded a tad bit lower at A$0.160 per share, down 5.883% at 2:24 PM AEST.
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30th Apr 03:08 PM AEST
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30th Apr 02:45 PM AEST
Why is ResMed (ASX:RMD) trading lower today?
The share price of digital health company ResMed Inc (ASX:RMD) was quoted 4.356% lower at A$26.130 per share at 2:15 PM AEST. The Company has announced results for the third quarter of 2021.
Key highlights:
- Revenue was down 3% at A$768.8 million.
- Gross margin lowered by 20 basis points and non-GAAP margin declined by 40 basis points.
- Net Operating Profit rose 3%.
- Selling, general, and administrative expensed decreased by 11%.
- Net loss for the quarter was A$78.5 million and diluted loss per share was A$0.54.
- Cash flow from operations for the quarter was A$196.3 million, as compared to the net loss in the current quarter of A$78.5 million.
- During the March quarter, the Company paid A$56.8 million in dividends.
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30th Apr 02:06 PM AEST
Mesoblast (ASX:MSB) study says drug remestemcel-L lowers mortality in COVID-19 ARDS patients under 65
Mesoblast Limited (ASX:MSB), known for its allogeneic cellular medicines for inflammatory diseases, announced the 60 day results from the controlled trial of remestemcel-L in 222 ventilator-dependent COVID-19 patients with moderate or severe acute respiratory distress syndrome (ARDS).
The study found out that Remestemcel-L reduced mortality through day 60 by 46% in the pre-specified group below age 65.
The drug lowered mortality rate by 75% and increased days alive off mechanical ventilation in patients under 65 when combined with dexamethasone, in comparison with controls on dexamethasone.
MSB entered into a licence and collaboration agreement with Novartis for the development, manufacture and commercialisation of Remestemcel-L. The main focus would be on treating ARDS.
Meanwhile, the stock MSB was found trading 6.557% higher at A$1.950 per share, with the market cap of A$1.18 billion at 1:45 PM AEST.
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30th Apr 01:37 PM AEST
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30th Apr 01:32 PM AEST
Roto-Gro (ASX:RGI) appoints CFO and Company Secretary
Roto-Gro International Limited (ASX:RGI) announced that Karla Mallon and Andrew Palfreyman of Automic Group have been appointed as Chief Financial Officer and Company Secretary respectively.
While Karla is a chartered accountant and has a Masters degree in Maths, Andrew is a corporate lawyer and specialises in equity capital markets and commercial transactions.
Also, on Friday, the Company shared its quarterly activities report for the period ending 31 March 2021.
The report said Roto-Gro continues to collaborate with Verity Greens and establish itself as a leading technology supplier in the global indoor vertical farming perishable foods market.
Also, RGI continues to work with Canniberia to capitalise on the executed A$1.93 million purchase and sale agreement.
Meanwhile, the stock RGI was spotted trading at A$0.046% at 12:42 PM AEST.
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30th Apr 01:13 PM AEST
Indoor Skydive (ASX:IDZ) to focus on the growth of virtual reality businesses
Indoor Skydive Australia Group Limited (ASX:IDZ) shared its March quarter update on Friday as per which the Company went on to witness robust sales throughout the quarter in both wind tunnel and virtual reality business segments.
The Company reported net cash of A$159 thousand from operating activities, A$2.1 million of cash receipts for the quarter.
The firm is now focused on the growth and development of its Virtual Reality businesses. This includes the continuation of the FREAK Entertainment roll out.
FREAK Entertainment performed strongly with the first full quarter of three venues open. Revenues were up 72% as compared to the previous quarter. Its Cash receipts rose 62% from the previous quarter.
Meanwhile, the stock was down 21.213% at A$0.026 per share at 12:42 PM AEST.
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30th Apr 12:59 PM AEST
Crown Resorts (ASX:CWN) to start operating under revised restrictions from Perth, shares go green
One of the most talked-about stocks on the ASX, Crown Resorts Limited (ASX:CWN) announced on Friday that gaming and non-gaming operations at Crown Perth could restart as the Western Australia Government will be easing restrictions in the Perth metropolitan area and Peel region from 1 May 2021 onwards.
Restrictions on gaming operations include a prescribed maximum density quotient of one person per two sqms.
Also, physical distancing and hygiene protocols will have to be followed.
Crown is likely to start operating from 1 May 2021.
Meanwhile, driven by the news, the share price of the stock CWN was trading 0.164% higher at A$12.200 per share, with a market capitalisation at A$8.24 billion at 12:36 PM AEST.
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30th Apr 12:40 PM AEST
Weebit (ASX:WBT) advances to first commercial agreement, shares surge
Weebit Nano Ltd (ASX:WBT) shared its activities report for the quarter ended 31 March 2021.
The Company shared it is accelerating in discussions with multiple potential partners and customers, targeting the first commercial agreement by mid-year. This largely depends on the then COVID-19 international travel restrictions.
It also shared that its embedded memory module is on track and that it is advancing in integrating Weebit Nano’s ReRAM with a selector for the discrete memory market.
Also, two new patents are filed in relation to optimising ReRAM programming.
Meanwhile, the stock WBT was spotted trading at A$2.280 per share, up 3.167% at 12:09 PM AEST.
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30th Apr 11:37 AM AEST
Palladium hits all-time highs on supply deficit and robust demand
Source: © Walldemarus | Megapixl.com
Palladium prices surged to an all-time high peak of US$2,981.99 per ounce on Thursday on robust demand and supply disruptions.
- Palladium futures crossed the US$2,900 per ounce level mark for the first time. The metal prices have surged by more than 11 per cent this month.
- Higher demand of the silver-white metal in the automobile industry for catalytic convertor amid stringent pollution guidelines in China and Europe has skyrocketed the demand for palladium.
- Supply concerns from the world's leading palladium producer, including Russia's Norilsk Nickel, have created a supply deficit leading to a surge in soft metal prices.
- Leading market analyst believes that the prices will cross the US$3,000 per ounce mark in the near future.
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30th Apr 11:34 AM AEST
Crude oil jumps to six-week highs amid robust US economic recovery
Source: © Designer491 | Megapixl.com
Oil prices surged to six-week highs on Thursday on robust US economic data and a better-than-expected demand recovery.
- Three months Brent crude oil futures traded 0.13 per cent up at US$68.03 per barrel, whereas June delivery WTI crude oil futures traded at US$64.79 per barrel, down 0.34 per cent on 30 April 2021 at 10:00 AM AEST.
- A weaker US dollar additionally supported the prices. The US dollar index had dipped to the nine-week lowest range, followed by a dovish outlook from the Fed.
- Meanwhile, the news from Europe that it will double its vaccine capacity for the next year has also acted bullish and helped to lift oil prices.
- However, the rise in COVID-19 cases in India and Brazil is a matter of concern and has reduced the oil demand significantly.
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30th Apr 11:34 AM AEST
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30th Apr 11:23 AM AEST
Analysts optimistic about Newcrest Mining’s (ASX:NCM) organic growth outlook
Citi expects Newcrest Mining Limited (ASX:NCM) to record higher gold production in the June quarter at lower costs
The brokerage firm stated there's no gold miner in its ASX coverage with the scale of organic growth options that NCM has.
Citi expects a record June quarter from NCM's flagship Cadia mine in New South Wales.
NCM on Thursday posted a slight drop in its third-quarter gold output compared with the prior three months.
But the Company is on track to deliver its FY21 guidance and says it has not experienced any material disruption from COVID-19 to date.
Citi Brokerage has slashed the price target to A$30.50 from A$32.00 but has maintained ‘buy’ rating.
Meanwhile, the stock NCM was spotted trading at A$26.555, down 1.975% lower, with a market cap of A$22.14 billion at 10:54 AM AEST.
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30th Apr 11:15 AM AEST
Sezzle (ASX:SZL) gains substantially on proposed US IPO
Australia-listed shares of the buy now, pay later (BNPL) firm Sezzle Inc. (ASX:SZL) gained as much as 7.6% to A$9.55 in early deals, set for best day since 13 April 2021.
SZL has revealed that it intends to pursue a US IPO, aiming to cash in on a rapid expansion in the BNPL sector during the COVID-19 pandemic.
Up to Thursday's close, the stock had risen nearly 44% this year.
Meanwhile, at around 10:39 AM AEST, the stock was trading at A$9.400 per share, up 5.855%.
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30th Apr 10:48 AM AEST
Jefferies expects Woolworths (ASX:WOW) to trump Coles (ASX:COL) despite weak sales
Woolworths Group Limited (ASX:WOW) on Thursday, reported broadly flat sales so far in April, weaker than Coles Group Limited (ASX:COL). According to financial research firm Jefferies, Australia's biggest supermarket chain WOW is still on track to outperform rival Coles COL, despite a disappointing Q3 and April sales update on Thursday.
It should be noted that shopping patterns are returning to the pre-pandemic levels.
Brokerage Jefferies believes the markets put too much emphasis on April as its analysis suggests WOW and COL performance, adjusted for Easter/ANZAC Day, was similar.
Jefferies stated that while the food retail market has slowed sooner than expected and COL may have somewhat closed the gap to WOW. It can be believed that superior online & data capability will facilitate outperformance.
Jefferies has slashed the price target on WOW to A$45.50 from A$46.50, maintaining ‘buy’ rating as per the refinitiv data.
Nine of twelve brokerages have rated the stock ‘buy’ or higher, two ‘hold’ and one ‘sell’; median PT is kept at A$44.
Up to Thursday's close, WOW had risen 1.3% this year, while COL had lost 9.7%.
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30th Apr 10:46 AM AEST
Beam Communications (ASX:BCC) takes in Australia Post as major retailer for selling ZOLEO
Beam Communications Holdings Ltd (ASX:BCC) announced it has signed a retail partnership agreement and received an initial order for ZOLEO from Australia Post Group.
The Australia Post Group will be selling the device across its outlets and via their website starting in May.
Australia Post is one of the country’s biggest retailers with 4,300 outlets and has a great presence in rural and remote regions. More than half of these outlets are located in such regions, where having a seamless global messaging device like ZOLEO would be relevant.
Meanwhile, the stock was quoted at A$0.255 per share at the ASX.
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30th Apr 10:10 AM AEST
Zebit, Inc. (ASX:ZBT) poised for further growth following upbeat performance in March quarter
California based eCommerce company Zebit, Inc. (ASX:ZBT) has reported strong revenue growth and a substantial growth in contribution margin during the quarter ended 31 March 2021 versus the previous corresponding quarter.
Key highlights include the following:
- Revenue of USD26.9 million, up 48.8% vs Q1 FY20.
- Contribution Margin stood at 14.3%, indicating a growth from 10.6% during Q1 FY20.
- Net Loss after tax of USD2.1 million as compared to a loss of USD2.9 million in Q1 FY20.
Now, the Company remains suitably positioned for delivering its Prospectus revenue projection for H1 FY21 and full-year period from 1 July 2020 to 30 June 2021.
The ZBT stock was noted at AUD1.240 at 10:12 AM AEST.
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30th Apr 10:09 AM AEST
Regeneus (ASX:RGS) partners with Defence Department to develop Sygenus for combat casualty care
Clinical-stage regenerative medicine company Regeneus Limited (ASX:RGS) shared it has partnered with the Australian Department of Defence to develop Sygenu, Regeneus’ stem cell bioactive secretome technology, for treating combat casualties.
The Company will receive A$300,000 in funding from the Department of Defence (DoD).
The research will be conducted in partnership with Professor Mark Hutchinson’s group at Adelaide University.
Meanwhile, the last traded price of the stock RGS was A$0.130 per share.
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30th Apr 10:08 AM AEST
PointsBet Holdings Limited (ASX:PBH) shows-off major growth during March quarter
PointsBet Holdings Limited (ASX:PBH) has reported strong growth across key metrics for the quarter ending 31 March 2021 as compared to the pcp.
During the quarter, PBH reported 169% growth in its active customers and a growth of 236% in turnover as compared to the pcp.
The Company recorded strong performance from its Australian Trading business, recording Turnover of AUD423.2 million during the quarter with improvements seen in the Gross Win Margin as well as Net Win Margin.
PBH remains well financed to pursue its strategic objectives and planned activities.
The PBH stock opened at AUD12.660 on 30 April 2021.
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30th Apr 09:56 AM AEST
Simble (ASX:SIS) signs 3-year contract with solar energy provider Juice Capital
Smart Energy SaaS firm Simble Solutions Limited (ASX:SIS) announced it has signed a three-year SaaS and energy IoT agreement with Juice Capital Pty Limited.
Juice finances, builds, owns and operates commercial solar PV systems across Australia. It is country’s largest renewable energy funds and recently merged with Horan & Bird.
Under the agreement, Juice will deploy the SimbleSense platform and related Apps across their commercial & industrial, SME and residential customers.
The revenue will be generated immediately with the deployment to over 100 existing Juice Capital PPA customers.
Also, more SaaS revenues will comes from SimbleHome subscriptions.
Meanwhile, the stock traded last A$0.033 per share.
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30th Apr 09:55 AM AEST
Booktopia Group (ASX:BKG) on track to achieve its full year revenue forecast after strong Q3
Booktopia Group Limited (ASX:BKG) has reported strong third quarter results that place the Company on track to attain its updated full-year revenue forecast for the 12 months to 30 June 2021 of AUD217.6 million and forecast underlying EBITDA for the full-year of AUD12.9 million.
The Company’s quarterly revenue for Q3 stood at AUD42.4 million, up by 53% on pcp and quarterly units shipped increased by 45% during the quarter.
Moreover, the Company anticipates demand to continuously expand for the near future with the development of the overall market for online books.
The BKG stock closed at AUD2.340 on 29 April 2021.
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30th Apr 09:55 AM AEST
Atomos (ASX:AMS) expands Ninja family to include 8K and Streaming
Atomos Limited (ASX:AMS) shared it is expanding the range of its flagship Ninja with two new products and a software upgrade.
Ninja V+
The Company has announced the next step in the evolution of the Ninja V by introducinf world’s first monitor recorder capable of 8K recording, the Ninja V+.
The Ninja V+ will be available in May 2021 with an MSRP of US$1,499.
Ninja Stream
Also, the Company introduced the Atomos Ninja Stream, which is a 5”4Kp60 HDR Monitor Recorder with Wi-Fi, Ethernet and cellular capabilities.
Meanwhile, the last traded price of the stock was A$0.945 per share.
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30th Apr 09:30 AM AEST
OceanaGold (ASX:OGC) records lower revenue and EBITDA for Q1 2021
OceanaGold Corporation (ASX:OGC) has reported first quarter consolidated gold production of 83,191 ounces. Moreover, revenue for the quarter ended 31 March 2021 stood at AUD148.9 million, down 11% and adjusted EBITDA was AUD66.5 million, down 6% on prior quarter. This was driven by lower gold sales from New Zealand.
Notwithstanding one-off milling challenges at Haile and Macraes, the Company delivered on first quarter anticipations, and now remains on-track to attain full year 2021 guidance.
The OGC stock last traded at AUD2.260 on 29 April 2021.
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30th Apr 09:30 AM AEST
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30th Apr 08:47 AM AEST
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30th Apr 08:37 AM AEST