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Zip (ASX:Z1P), Afterpay (ASX:APT) lead Australia's buy-now-pay-later stocks higher
Zip Co Ltd (ASX:Z1P) leads Australia's listed buy-now-pay-later (BNPL) firms higher as global tech stocks recover.
Tech stocks generally perform better when interest rates are low but powered gains on Wall Street overnight as investors bet on the strength of the U.S. recovery.
Zip climbed as far as 10.3% to AU$8.17, its highest level since late April.
The Sydney-based BNPL clocked its best week since mid-April, after which it fell close to a third amid worries around inflation.
Larger rival Afterpay Limited (ASX:APT) gained 7.8% to AU$115.8 - the first time it has hit that level since 3 May 2021.
From APT's lowest point this year on 13 May, it has since risen ~41%.
Short positions on APT, Z1P have barely budged this month, as per the ASIC data.
Another listed BNPL that rose was Sezzle INC. (ASX:SZL), which is planning a U.S. listing, which was up 3.2% at one point.
APT, Z1P and SZL are expected to release quarterly updates in early July.
The broader market AXJO was up 0.3%.
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BetMakers (ASX:BET) climbs most in 4 months on sealing Sportech deal
Shares of betting technology firm BetMakers Technology Group (ASX:BET) climbed 13% in its biggest single-day jump since 17 February 2021.
Shares, which were down a third to Thursday from 28 May 2021, were at a near three-week high of AU$1.22.
The Company has completed the acquisition of Sportech's ROD racing, tote and digital assets in the U.S., UK and Europe.
The deal will help BetMakers in its global expansion.
The company's shares were halted on Thursday pending the announcement and the stock was trading at AU$1.200 per share, up 11.111% at 1:00 PM AEST.
Sydney Airport (ASX:SYD) gains on higher monthly passenger traffic
Shares of Sydney Airport (ASX:SYD) rose as much as 1.7% to AU$6.15, their highest since 9 June 2021.
The Airport operator says total passenger traffic in May was 1.4 million, up from 93,000 passengers in May 2020.
The Company informed Traffic though was still lower than the pre-pandemic figure of 3.5 million passengers registered in May 2019.
The stock has posted its biggest intraday percentage gain since 2 June 2021.
The stock has fallen 5.6% this year, as of the last close.
Arafura Resources (ASX:ARU) climbs on potential funding for rare earths project
Shares of Arafura Resources Limited (ASX:ARU) gained as much as 3% to AU$0.170, their biggest intraday percentage gain since 11 June 2021.
The rare earths producer has got a 'without commitment' letter of support from the Northern Australia Infrastructure Facility on a funding package for its Nolans project in Australia.
The Company stated the letter sets out terms for a potential senior debt facility of up to AU$100 million.
The stock has added 32% this year, as of the last close.
Australian energy subindex hits over 2-week low tracking dip in crude oil prices
Australian energy subindex AXEJ declined as much as 1.7%, its lowest since 3 June 2021.
AXEJ is on track to extend losses into the second straight session.
Aussie energy stocks take a cue from crude oil prices that fell on Thursday, as the U.S. dollar rose after the U.S. Federal Reserve signalled, it might increase interest rates as soon as 2023.
Gas producer Santos Ltd (ASX:STO) dipped as much as 4.7%, eyeing its worst day since 21 May 2021.
AXEJ up 4.9% this year, as of the last close.
Starpharma (ASX:SPL) rises as active shows potent effect on COVID-19 variants
Starpharma Holdings Limited (ASX:SPL) gained as much as 7.395% to AU$1.670, on track for its biggest gain since 3 May 2021.
The Company stated further antiviral testing has confirmed SPL7013, the active in Starpharma’s antiviral nasal spray VIRALEZE, has potent virucidal activity.
SPL says the active works against the Alpha (UK), Beta (South Africa) and Gamma (Japan/Brazil) variant strains of the COVID-19 virus.
The stock is down 0.6% this year so far, as of the last close.
Aussie gold stocks set to extend losses as bullion drops on firmer dollar
Aussie gold stocks AXGD dragged as much as 3.3%, their lowest since 7 April.
Australian gold sub-index is set to post a fourth consecutive session of losses on Friday.
AXGD tracks gold prices that fell more than 2% on Thursday, as the dollar gained after the U.S. Federal Reserve struck a hawkish tone on monetary strategy.
Sector heavyweight Newcrest Mining Limited (ASX:NCM) drops as much as 4.9%, West African Resources Limited (ASX:WAF) and Northern Star Resources Limited (ASX:NST) dropped as much as 5.4% and 4.5%, respectively.
AXGD is down 6.2% this year so far as of the last close.
Thorn Group (ASX:TGA) sees best day in over 6 months on takeover bid from Somers
Shares of Thorn Group Limited (ASX:TGA) rise as much as 9.8% to AU$0.225, on track for their best session since 7 December 2020.
Somers Ltd, a Bermuda-based investment holding company, made an offer to acquire Thorn at a price of AU$0.21 per share in Thorn group, implying a deal value of AU$70.9 million.
The acquisition price represents a 2.4% premium to the Company’s last close of AU$0.205 on Thursday.
The stock is up 2.5% this year, as of the last close and was spotted trading at AU$0.220 per share, up 7.317% at 12:00 PM AEST.
Copper slips to two-month lows on strong US dollar
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Copper prices fell to two-month low levels on Thursday due to the strengthening of the US dollar after the US Federal Reserve signalled an aggressive view on interest rates.
- July delivery copper futures traded 0.38% up at US$4.189 per pound as of 18 June 2021 at 10:55 AM AEST.
- The US dollar strengthened to its highest level since April mid, after the Fed's signal to increase the interest rates. A firm dollar makes commodities more expensive for other currency holders.
- The prices have also been weighted by China’s plan to curb commodity prices by releasing industrial metals from its national reserves.
- The copper prices hit an all-time high in the second week of May as multi-trillion-dollar economic packages boosted the demand for the red metal.
- High usage in transition to a carbon-free world also supporting copper's demand in the market.
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Altium (ASX:ALU) climbs on playing up strategy, goals amid takeover interest
The shares of software firm Altium Limited (ASX:ALU) gained as much as 3.304% to touch AU$35.640 at 11:00 AM AEST and is on track for its best session in a week.
At an investor presentation, ALU underscored its strategy and key objectives, days after rejecting U.S. peer Autodesk's ADSK.O buyout offer, with analysts expecting rival bids to materialize.
ALU stated its renewal business was strong, while its China market was also delivering a solid performance; also reaffirms target of AU$500 million revenue and 100,000 subscribers by 2025.
However, the Company expects revenue and margins for FY21 on lower end of guidance range due to slow H1 impacted by COVID-19 pandemic.
The stock is up 1.5% this year, as of the last close.
NRW Holdings (ASX:NWH) climbs on securing A$530 million mining services contract
NRW Holdings Limited (ASX:NWH) rose as much as 5.7% to AU$1.590, on track for its best session since 20 May.
The mining services provider said it has received letter of intent from Karara Mining to award a contract for mining services works at its iron ore mine in Western Australia.
NRW stated the anticipated value of the contract is about AU$702 million over a five-year duration.
The stock is down 48.5% this year, as of the last close.
AWN Holdings (ASX:AWN) jumps on unit signing deal with Acces Industriel
Shares of AWN Holdings Limited (ASX:AWN) jumped as much as 56.875% to reach AU$1.255 at 11:00 AM AEST on Friday.
The investment firm said its unit VivoPower International Plc has signed a definitive agreement with Canadian industrial equipment distributor Acces Industriel Mining Inc.
AWN stated under the deal, Acces will distribute electric light vehicles in Canada using e-LV conversion kits from VivoPower's unit Tembo e-LV B.V.
VivoPower estimates these orders to be worth AU$120 million in total value.
AWN Holdings mentioned under the deal, Acces intends to purchase 1,675 Tembo e-LV conversion kits between now and December 2026.
Yojee’s (ASX:YOJ) contract update on Philippine expansion in existing customer
Yojee Limited (ASX:YOJ) provided a contract update on expansion in the Philippines with its’ existing global enterprise customer. The expansion order is for an initial 3-year agreement and is expected to double Yojee’s access to volume and revenue-generating transactions.
The contract signifies customer satisfaction with Yojee’s capacity to deliver comprehensive, complex, end-toned multi-leg client solutions.
In addition, the contract supports Yojee’s long term vision for e-commerce related logistics supply chain.
With nearly AU$20 million of cash to fund this growth, the YOJ team is currently focused on creating excellent customer outcomes.
YOJ share last traded at AU$0.155 on 18 June 2021 at 10:22 AM AEST.
Crude oil prices fell from multi-year highs
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Crude oil prices fell from their multi-year high levels on Thursday due to the strengthening of the US dollar after the US Federal Reserve signalled interest rates rise from 2023.
- August delivery Brent crude oil futures traded 0.11% down at US$73.03 per barrel whereas July delivery WTI crude oil futures traded at US$70.98 per barrel, down 0.08% as of 18 June 2021 at 10:24 AM AEST.
- The US dollar strengthened to its highest level since April mid after the Fed’s signal to increase the interest rates. A firm dollar makes oil more expensive for other currency holders.
- A surge of nearly 11,007 in Britain’s new COVID-19 cases has also put weight on crude oil prices.
- The potential US-Iran nuclear deal has come closer to an agreement however, essential issues remain to be negotiated. The removal of US sanctions on Iran could further increase oil supply in the market and increase pressure on oil prices.
Paradigm Biopharmaceuticals (ASX:PAR) jumps on clinical trial nod in Brazil
Shares of Paradigm Biopharmaceuticals Limited (ASX:PAR) rose as much as 7% to AU$2.130, marking their biggest intraday percentage gain since 21 May 2021.
The company said it has received key regulatory approvals to study injectable pentosan polysulfate sodium in a phase 2 clinical trial in patients with Mucopolysaccharidosis type VI, a condition causing an inflamation of tissues and organs in humans.
The Company has got regulatory approval from the Brazilian National Health Surveillance Agency and ethics approval from Brazilian national ethics committee for the trial.
Though the stock is down ~22% this year as of the last close, it was trading 5.025% up at AU$2.090 per share at 10:40 AM AEST.
MACA (ASX:MLD) hits over 7-month low on being dropped as contractor for project
Shares of mining services contractor MACA Limited (ASX:MLD) fell as much as 8.9% to AU$0.770, their lowest since 30 October 2020.
The Company said Karara Mining has informed that it is not the preferred bidder for the extension of the mining services contract at the Karara Magnetite project, due to expire in March 2022.
MACA expects revenue and earnings to remain broadly in line with market consensus in FY22, and looks forward to replacing the Karara project with other similar opportunities in FY23 and beyond.
The stock is down 30.5% this year, as of the last close and was trading at AU$0.795 per share, down 5.918% at 10:40 AM AEST.
Oneview Healthcare (ASX:ONE) confirms new Cloud contract with Northern Health
Oneview Healthcare Plc (ASX:ONE) confirmed signing Northern Health as their first Cloud Start customer in Australia. Northern Health is a primary provider of acute, maternity, sub-acute and specialist services in Melbourne.
Oneview's Cloud Start product will be deployed to Northern Health's AU$162.3 million Inpatient Unit Expansion Project. The Cloud Start product will enable patients to communicate with their clinicians in a Covid-safe manner, utilising Oneview's Care Experience Platform.
Northern Health's project is expected to go live in Q3 2021.
ONE shares last traded at AU$0.415 at 10:10 AM AEST.
Apollo (ASX:AOP) finds vital gold deposits at Cleo & Rebecca deposits
Apollo Consolidated Limited (ASX:AOP) reported discovering widespread gold mineralisations in RC drilling at its’ Cleo & Rebecca deposits.
As per the Company, the intercepts have multiple mineralised zones that are open to striking. AOP has planned immediate follow-up drilling at Cleo to expand on known mineralised zones into untested areas.
The announcement said that ongoing activities at Rebecca deposit are to be continued to find new shallow gold mineralisation in under-drilled areas. It will also continue with Diamond drilling at six drill holes in progress within the key mineralised structures.
AOP shares last traded at AU$0.295 on the ASX.
Little Green Pharma (ASX:LGP) strikes a distribution deal with known Polish pharma group
Little Green Pharma Ltd (ASX:LGP) has announced a five-year exclusive pharmaceutical distribution agreement with Medezin Sp. z.o.o (Medezin) for the distribution of LGP’s cannabis medicines into Poland.
Under the agreement, LGP will supply medicinal cannabis oils and medicinal cannabis flower product for distribution into Poland by Medezin.
The Agreement is for a term of five years.
Medezin is a 100%-owned subsidiary of Polska Grupa Farmaceutyczan S.A. (PGF).
The stock LGP traded last at AU$0.660 per share on the ASX.
Cellmid (ASX:CDY) reports record QVC Sales
Health and beauty-tech business Cellmid Limited (ASX:CDY) shared that the TSV (Today's Special Value) sales event on 12 June 2021 on Japanese television shopping channel QVC has delivered record wholesale revenue of JPY 117.14 million for the Company ($1.38 million).
This result is 36% higher than the JPY 86.35 million ($1.01 million) achieved on the same TSV event in June 2020, and 23% higher than the next highest sales result of JPY 95.32 million ($1.13 million) in June 2019.
The announcement read that television shopping continued to flourish during the pandemic, and QVC Japan remained the most significant distribution channel for the Company’s products.
Also, along with the focus on TV shopping, and in preparation for long term growth for the highly differentiated évolis® branded hair care products, the Company has been investing in ecommerce in the US and Australia gradually replacing the largely bricks and mortar distribution.
The stock CDY traded last at AU$0.065 per share.
Bubs (ASX:BUB) enters US infant formula markets
Bubs Australia Limited (ASX:BUB) announced its entry into the US markets via Walmart.com.
The Company shared its Aussie BubsTM infant formula range will be launched online in the US from September 2021. With this, it has got into the retail category worth US$5.1 billion per annum.
The Company is expecting a growth of 4% by 2025 via this sales.
BUB’s products will be made available through Amazon as well to immediately scale access to the market.
According to BUB founder & CFO Kristy Carr, this is the company’s first milestone that it has achieved in its goal of global diversification.
BUB shares traded last at AU$0.375 on the ASX.
WOA to develop pilot-scale Lupin Protein Production facility
Wide Open Agriculture Ltd (ASX:WOA), shared it has made it to the next phase of the Company’s lupin and plant-based protein business.
WOA informed that it has the approval from the Board to jump to purchasing, constructing and operating an in-house lupin and plant-based protein manufacturing facility in Western Australia.
The pilot plant is likely to be made near WOA’s Dirty Clean Food operations in Kewdale, WA. The plant will be used to polish the lupin production process.
The plant is expected to generate a reasonable revenue stream and enhance opportunities to secure strategic partnerships and potential offtake agreements.
As per the Company’s announcement, potential revenue from the pilot plants outputs are anticipated to offset the operational costs of the facility.
The last traded share price of the stock was AU$0.870.
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