Live ASX News Today
Woolworths (ASX:WOW) increases SECOS’ (ASX:SES) Compostable Bags, takes the partnership ahead
SECOS Group Limited (ASX:SES) shared today that it has been approved to supply additional Woolworths (ASX:WOW) stores with its certified compostable products consisting of two certified compostable bin liners from 88 to 203 Woolworths Eco Stores.
SECOS is an Australian company with significant Intellectual Property around the formulation and production of compostable resin, film and bags.
Woolworths’ selection of SECOS Group products will enable consumers to access these compostable caddy bags directly from Woolworths ECO Supermarket Stores, informed the Company’s release.
The stocks WOW and SES closed up 1.374% and 24.444% higher on the ASX today.
Sequoia Financial Group (ASX:SEQ) nears four-month peak on upgraded guidance
Shares of financial services provider Sequoia Financial Group Ltd (ASX:SEQ) gained as much as 6% to AU$0.53, their highest since 18 February 2021.
The Company has raised full-year 2021 earnings before interest, taxes, depreciation, and amortization forecast to about AU$11 million, from previous guidance range of AU$8.5 million to AU$9 million.
The firm stated FY21 revenue will be between AU$110 million and AU$120 million.
The stock has posted its biggest intraday percentage gain since 22 April 2021.
About 959,000 shares got traded as compared with the 30-day average of about 62,000 shares.
The stock has risen 5% this year and ended 5% higher at AU$0.525 per share today.
Global Health (ASX:GLH) sees worst trading day in nearly 7 months on placement
Shares of the digital health solutions Company Global Health Limited (ASX:GLH) dropped as much as 23.4% and closed at AU$0.605, posting their biggest intraday percentage fall since 17 November 2020.
The Company said it has raised AU$7.8 million via a placement of shares at an issue price of AU$0.555 per new share.
The issue price is at a 29.7% discount to the Company’s last close price of AU$0.79 per share, as of 9 June 2020.
The stock has hit its lowest since 28 May 2021.
About 100,000 shares got traded as compared with the 30-day average of about 14,000 shares.
The stock has risen 68.1% this year, as of the last close.
Australia's CSL climbs over A$300 for the first time in 2021
Australian biotech firm CSL Limited (ASX:CSL) is back to over AU$300 for the first time this year.
CSL, Australia's priciest stock, clocked up to 2.4% gains and reached to a level of AU$303.79 - its highest since 10 December 2020.
As per the Company’s announcement, CSL’s influenza vaccine company, Seqirus, and Novavax have co-authored the first study on administering a COVID-19 vaccine with a seasonal influenza shot.
CSL is making the AstraZeneca COVID-19 vaccine in Australia, churning out around a million doses a week. It is contracted to make 50 million doses in total.
Meanwhile, the stock closed 1.877% higher at AU$302.210 per share today.
Galena Mining (ASX:G1A) jumps 12% on plans to develop flagship project
The stock of base metals miner Galena Mining Limited (ASX:G1A) gained as much as 12% to AU$0.28, its highest level since 12 November 2020.
The Company has finally decided to develop its flagship Abra lead-silver project, with the first production to be seen in Q1 of 2023.
G1A stated on-site plant construction would begin by the end of this year.
The stock is on track for its biggest single-day gain since April-end.
Over 15 million shares got traded, six times the 30-day trading average.
Meanwhile, at around 1:42 PM AEST, the stock was trading 8% higher at AU$0.270 per share.
WT Financial Group (ASX:WTL) nears three-month high on an acquisition
Financial services provider WT Financial Group Limited (ASX:WTL) rose as much as 33.3% to AU$0.08 on the ASX on Tuesday.
The Company stated it has entered an agreement to buy financial advisory firm Sentry Group for an initial consideration of AU$7 million.
WTL has posted its biggest intraday percentage gain since 3 March 2021.
The stock is up 14.3% this year, as of the last close.
Wesfarmers (ASX:WES) hits record high, extends 2021 gains
Wesfarmers Limited (ASX:WES) shares climbed 3.2% to a record AU$56.73, extending gains for the year.
The conglomerate's shares are up ~12% so far in 2021, and more than 38% over the past year.
Tuesday's rise is sharpest since 1 March 2021.
Many consumer-facing businesses of WES, such as hardware chain Bunnings and department stores Kmart and Target, have seen strong sales due to lockdowns, with customers focused on home improvements alongside higher construction activity in the country.
Elevated trading at its retail business has also seen strong cash generation.
In a recent investor day, WES showed a strong balance sheet with lower financing costs as average debt declines.
Meanwhile, at 1:30 PM AEST, the stock was trading at AU$56.430 per share, up 2.599%.
Keypath Education (ASX:KED) climbs as it raises FY2021 revenue guidance
Shares of Keypath Education International INC (ASX:KED) climbed as much as 4.5% to AU$3.510 per share on Tuesday.
The online course provider has announced an increase in FY2021 revenue guidance to AU$94 million-AU$96 million from AU$91 million featured in the Company’s prospectus.
The Company stated positive momentum in the business has continued throughout Q4 due to robust enrolment growth and strong student retention.
KED said the Company added five new programmes with its existing university partners in key disciplines and markets since its prospectus was lodged on 11 May 2021.
Meanwhile, at around 1:20 PM AEST, the stock was trading at AU$3.400 per share, up 1.190%.
Five ASX penny stocks making a splash today
Leigh Creek Energy (ASX:LCK) plummets on placement
Shares of Leigh Creek Energy Limited (ASX:LCK) tumbled as much as 21.7% to AU$0.180, their lowest since 23 April 2021.
The electricity producer has raised AU$18 million to progress stage 1 of the Leigh Creek energy project in South Australia.
New shares under the placement are priced at AU$0.18, representing a 20% discount to the stock's last trading price on 10 June, after which the Company went on a trading halt.
The stock has added 35.3% this year, as of the last close and was trading 15.218% down at AU$0.195 per share at 1:10 PM AEST.
Nuix (ASX:NXL) jumps on CEO, CFO exit amid growing pressure
Shares of Nuix Limited (ASX:NXL) climbed as much as 4.2% after the top two executives bowed to growing pressure and are set to exit.
NXL has lost more than half its value since listing in December after failing to meet targets set in its prospectus and downgrading revenue forecasts twice since.
CEO Rod Vawdrey will leave later this year once a replacement is found, while CFO Stephen Doyle will be replaced from Monday.
Former Star Entertainment Group Limited (ASX:SGR) CFO Chad Barton will take over Doyle in the interim as a global search is conducted.
NXL has lost close to AU$3 billion in value since its all-time high in late January.
Premier Investments (ASX:PMV) extends gains on the strong forecast, hits record high
Retail fashion chain operator Premier Investments Limited (ASX:PMV) saw its stock gain as much as 7% to AU$29.35 per share, its highest ever on Tuesday.
The Company on Friday jumped as much as 5.2% after forecasting full-year EBIT for unit Premier Retail to increase between 82% and 92% on the previous corresponding period's underlying EBIT.
The Company stated forecast helped by solid trading after the reopening of stores following pandemic-related lockdowns.
The stock is up 23.4% this year so far.
Invex (ASX:IXC) hits record low on U.S. FDA response on clinical trial plan
Invex Therapeutics Ltd (ASX:IXC) fell as much as 22.1% to AU$0.510, hitting a record low on Tuesday.
The pharma company shared it has received responses from the U.S. Food FDA on its proposed Phase III clinical trial design for PresendinTM to treat Idiopathic Intracranial Hypertension.
IXC stated that the FDA considered the Company’s measure an appropriate secondary endpoint for intracranial pressure (ICP), but not a primary endpoint that would support approval of Presendin in IIH.
The Company stated this advice contrasts with that from the European Medicines Agency (EMA), which considered lowering ICP as an appropriate primary endpoint.
IXC stated it would meet with regulatory advisors to understand the FDA response.
The stock has posted its biggest intraday percentage fall since 23 March 2020.
The stock is down 8.4% this year, as of the last close and was spotted trading at AU$0.560, down 14.504% at 12:20 PM AEST.
McPherson's (ASX:MCP) marks worst session in 6 months as buyout offer scrapped
McPherson's Limited (ASX:MCP) declined as much as 21.8% to AU$1.130, hitting its lowest since 5 March 2021.
The health and beauty products maker said after a four-week due diligence period, suitor Arrotex Australia Group backed out of a buyout proposal worth AU$205.4 million.
MCP did not give details on the reason for Arrotex's withdrawal and reiterated FY21 outlook provided earlier.
The stock has posted its biggest intraday percentage fall since 1 December 2020.
More than 1.2 million shares got traded as compared to the 30-day average volume of about 534,000.
The stock is up 6.3% this year, as of the last close and was trading at AU$1.215 per share, down 15.917% at 12:15 PM AEST.
Cobalt Blue (ASX:COB) successfully raises A$15 million via institutional placement
Cobalt Blue Holdings Limited (ASX:COB) has received firm commitments to raise AU$15 million (before costs) via a two-tranche share placement to institutional, sophisticated and professional investors. Issue will be through new fully-paid ordinary shares at AU$0.30 per share and 25 million free attaching options exercisable at AU$0.45 each on or before 15 August 2022.
The Placement was well supported by a number of domestic and offshore institutional investors.
As per the Company release, the proceeds will be used to accelerate construction of a demonstration plant. Cobalt Blue is now fully funded to complete construction of the demonstration plant to provide battery grade cobalt sulphate to end-users and potential strategic partners.
COB shares traded at AU$0.335, down 6.945% at 11:20 AM AEST.
Copper prices cool on Chinese measures to curb prices
Source: © Gana123 | Megapixl.com
Copper prices plummeted on Monday on fears that China would take action to curb the rising prices of the red metal.
- July delivery Copper futures traded 0.24% down at US$4.51 per pound as of 15 June 2021 at 10:27 AM AEST. Copper futures hit all-time highs of US$4.9 per pound in the second week of May.
- Lower investment in the sector coupled with a slump in production during the coronavirus outbreak has brought the inventories to 15-year low levels.
- Contrarily, huge support in the form of COVID recovery funds including trillion-dollar stimulus packages has increased the demand for the red metal.
- Additionally, the worldwide transition to a carbon-free world to become carbon neutral by 2050 has also increased the demand for copper, a significant metal used in almost all green energy applications.
Crude oil steadies on dampened expectations for fuel demand
Source: © Batareykin | Megapixl.com
Crude oil traded flat on Monday after hitting nearly two-year highs on dampened expectations for fuel demand and tighter supplies.
- August delivery Brent crude oil futures traded 0.01% down at US$73.11 per barrel whereas July delivery WTI crude oil futures traded at US$71.04 per barrel, up 0.23% as of 15 June 2021 at 10:00 Am AEST.
- The growth in US crude oil production and delay in Britain’s COVID-19 reopening has disturbed the market equilibrium and dampen the expectations for demand growth.
- The US shale oil is expected to rise by about 38,000 barrels per day in July, as per the recent forecast by U.S. Energy Information Administration (EIA).
- On Monday, Britain has decided to delay all plans of lifting COVID-19 restrictions by a month because of a rapid surge in coronavirus’ new variant – Delta.
Isentia (ASX:ISD) sees best day ever on a buyout deal with Access Intelligence
Shares of Isentia Group Ltd (ASX:ISD) rose as much as 157.4% to AU$0.175, on track for their best day ever.
The media intelligence firm shared that it has entered a preliminary agreement to be acquired by LSE-listed Access Intelligence Plc for AU$0.175 per share in cash.
The offer is at a similar premium to the stock's current gain.
The Company said the offer implies an enterprise value of AU$67 million based on a A$35 million equity value and A$32 million net debt balance, as of 31 May 2021.
The stock has hit its highest since 5 May 2021 and is on track for a second consecutive session of gains.
About 45.3 million shares got traded as compared with a 30-day average of 541,631 shares.
The stock is down 42.1% this year, as of the last close.
Australian gold stocks fall as bullion prices slip
Australian gold stocks AXGD dropped as much as 3.2%, on track to post their biggest intraday percentage loss since 4 June.
AXGD tracks gold prices that slipped on Monday, as some investors feared the U.S. Federal Reserve may scale back its expansive monetary policy at a two-day meeting this week.
The Australian gold subindex is set to snap its two-day winning streak.
Sector heavyweight Newcrest Mining Limited (ASX:NCM) lost as much as 2.9%.
Australia's subindex for gold miners has risen 1.7% this year, as of the last close.
Japara Healthcare (ASX:JHC) hits near two-year peak on rival A$251 million buyout proposal
Japara Healthcare Limited (ASX:JHC) gained as much as 5.1% to AU$1.240, hitting its highest since 16 September 2019.
The aged-care facilities operator shared that it has received a buyout proposal from not-for-profit home-care provider RSL Care RDNS Limited, part of the Bolton Clarke Group, valued at AU$326 million.
Latest offer is at a 3.4% premium to stock's last close and 1.7% premium to offer from Little Company of Mary Healthcare Ltd announced last week.
JHC Board stated that it is appropriate to offer Bolton Clarke due diligence access so it can develop a binding proposal.
More than 980,000 shares have been traded so far, as compared with the 30-day average volume of about 684,000.
The stock is up 90% this year, as of the last close.
Broo Limited (ASX:BEE) to sell Ballarat property
Broo Limited (ASX:BEE) has entered into a contract of sale of its’ Ballarat Property in Victoria.
The Company release said today that this is a contract between its wholly-owned subsidiary, Broo Brewery Pty Ltd (Broo Brewery), and Bentley Property Group. Bentley Property Group is a Ballarat-based property investment and development company.
The Company is now focused on the outsourced production of its beer products. It allocates funds towards the marketing and distribution of its products rather than developing its brewery at the Ballarat Property.
The ASX announcement read that the sale will be for AU$7.5 million upon approval by Development Victoria and an appropriate agreement between Development Victoria and Bentley Property Group. Settlement of the sale scheduled on the earlier of 90 days from the day of sale or 60 days from obtaining Development Victoria approvals.
BEE shares traded down 11.112% at AU$ 0.016 at 10:20 AM AEST.
Azure (ASX:AZS) discovers seven more Ni-Cu intersects at Andover Project
Azure Minerals Limited (ASX:AZS) has shared that it has discovered seven drill hole intersects with significant Ni-Cu sulphides at the VC-07 mineralised corridor on the Andover Project. With this, the Company reports that drilling continues to be a great success, with more and more zones of Ni-Cu sulphide mineralisation within the VC-07 corridor.
Compared to earlier drilling, these intersections are coincident with Electromagnetic (EM) conductors, confirming the strong association of Ni-Cu sulphide mineralisation with EM conductance. The western part of VC-07 shows substantial mineralisation, with multiple mineralised drill hits and numerous nearby EM conductors that are yet to be drilled.
Meanwhile, the in-fill and extensional mineral resource drilling at VC-07 East aligns with AZS’s expectations.
AZS shares traded at AU$0.270 at 10:20 AM AEST.
Argenica Therapeutics (ASX:AGN) begins trading on ASX
Argenica Therapeutics (ASX:AGN), now listed on the ASX for trading on 11 June 2021, recorded $7 million capital raising. The capital was raised at AU$0.20 per share with a market capitalisation of AU$14.6 million.
The Company is developing novel therapeutics to potentially reduce brain tissue death after a stroke, improve patient outcomes and reduce long-term healthcare costs. There is currently no marketed treatment available for protecting brain damage caused by stroke. Argenica aims to become a foundational company within this space.
Argenica’s lead neuroprotective peptide candidate, ARG-007, has already successfully demonstrated improved outcomes in pre-clinical stroke models. AGN will direct funds from the IPO towards the first Phase I in-human clinical trial.
AGN shares traded at AU$0.240, down 7.693% at 10:20 AM AEST.
Eden Innovations (ASX:EDE) reports continued market progress in Colorado
Eden Innovations Ltd (ASX:EDE), on Tuesday, shared an update on continued EdenCrete® sales and marketing progress in the Colorado infrastructure market.
The Company shared that EdenCrete® has been specified in shortcrete that is to be used in the restoration of East Portal of Moffat Tunnel.
Also, the release said that EdenCrete® trialled on I-70 in Vail Pass Paving Project Trial.
Meanwhile, the stock traded last at AU$0.023 per share on the ASX.
MoneyMe (ASX:MME) posts record results with strong growth trajectory
MoneyMe Limited (ASX:MME) provided a trading update for the month ending 31 May 2021.
The Company has reported record originations of AU$57 million in May 2021 and the Group is experiencing significant traction in the newly launched secured vehicle finance innovation, Autopay.
- Originations accelerate with the Group achieving a record AU$57 million in May-21, 384% pcp growth.
- Strong early performance for Autopay, after launching in late April-21, exceeded AU$1.2 million in cars financed in May-21 and on a trajectory to more than double in June-21.
The Company release stated that it has generated AU$1.3 million in originations of Autopay within the first six months from launch.
The stock was trading last at AU$1.600 per share on the ASX.
Peako (ASX:PKO) raises A$2.5 million to fund East Kimberley Exploration
Peako Limited (ASX:PKO) shared on 15 June 2021 that it has got robust commitments for a two-tranche placement to raise around AU$2 million at an issue price of AU$0.035 per share.
Also, the Company will be undertaking a Share Purchase Plan to raise approximately AU$500k.
As per the ASX announcement, the Company will be funded for a drilling and exploration programme that extends into October and to take ahead the exploration activities at the Company’s East Kimberley project.
The stock was seen trading last at AU$0.041 per share.
ASX 200: Market to open higher amid strong cues from Wall Street
ASX 200 on Tuesday: Top five things to watch out for