Live ASX News Today
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25th Jun 02:28 PM AEST
Australia's travel stocks eye weekly losses as virus woes persist
Shares of Australian travel agency companies Flight Centre Travel Group Ltd (ASX:FLT) and Webjet Limited (ASX:WEB) notch weekly losses of 5.7% and 4.5% respectively.
Sydney, Australia's most populous city, continues to grapple with an outbreak of a highly contagious Delta variant that emerged last week.
New South Wales Premier Gladys Berejiklian on Thursday said the latest outbreak "is perhaps the scariest period" the state is going through since the pandemic started.
Downtown Sydney and the city's eastern suburbs, which include Bondi Beach, will go into a one-week lockdown from midnight Friday.
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25th Jun 02:13 PM AEST
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25th Jun 01:46 PM AEST
RedHill (ASX:RDH) tumbles on ending discussions with UCW on takeover bid
Shares of educational courses provider RedHill Education Limited (ASX:RDH) dropped as much as 5.1% to AU$0.750, hitting their lowest level since 18 February 2021.
The Company stated it has ceased discussions with peer UCW Limited (ASX:UCW) on a takeover bid for Company, as parties could not reach mutually acceptable terms.
UCW's offer consisted of 4.5 UCW shares for each share held in RDH, which RDH had rejected in January this year on failure to disclose certain information.
WDH also added that UCW has informed that it does not intend to extend its offer.
RDH stated it is considering an offer from training firm iCollege Limited (ASX:ICT) in February, which offered 6 shares in ICT for every share in the Company, valuing RDH at AU$50.3 million.
RDH stock is set to lose 3.8% for the week, its biggest weekly loss since 7 May 2021.
RDH has lost 7.1% this year, as of the last close and was trading 4.431% down at AU$0.755 per share at 1:30 PM AEST.
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25th Jun 01:08 PM AEST
Afterpay (ASX:APT) posts substantial gains. Here’s why
BNPL stock Afterpay Limited (ASX:APT) gained up to 1.5% and is on pace to add to a solid bump in June; the stock is set to enjoy its best month in over a year.
At the session high of AU$132.5, the 'buy now, pay later' firm is up 43% in June, but still 17% below its all-time high touched in February.
The gains this month came after a rise in bond yields and as worries around interest rate hikes saw global growth stocks fall.
Afterpay this week said it will allow users to shop at thirteen major U.S. merchants it has not directly partnered with, a move that will boost sales and margins, analysts said.
APT is up 14% for the week.
Rivals Zip Co Limited (ASX:Z1P) and Sezzle Inc (ASX:SZL) are both up around 20% in June.
Afterpay, Zip and Sezzle have all shown interest in a U.S. listing, and are likely to provide quarterly updates in July.
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25th Jun 01:07 PM AEST
Engenco (ASX:EGN) falls on FY21 profit, revenue outlook
Engineering company Engenco Limited (ASX:EGN) fell as much as 2.8% to AU$0.53 per share on Friday.
The Company said it expects FY21 net profit before tax to be between AU$8 million and AU$9 million versus AU$10.2 million in FY20.
The firm sees FY21 revenue AU$163 million-AU$165 million versus AU$178.1 million last year.
EGN said the decline is due to lower-than-expected cyclical demand from some major customers. The demand is mostly affected by adverse weather and disruptive rail network events in H2 FY21.
The Company's shares are down 11.5% this year, as of the last close.
At 12:50 PM AEST, the stock was trading 0.926% lower at AU$0.535 per share.
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25th Jun 01:07 PM AEST
Wiseway (ASX:WWG) eyes best day in one week on U.S expansion
Shares of Wiseway Group Limited (ASX:WWG) jumped as much as 5.5% to AU$0.29, on track for their best session since 18 June 2021.
The freight logistics operator said that from July, it will commence operations in the U.S, with a new branch based in Los Angeles.
WWG said new U.S route will allow the Company to extend operations to new shipping destinations.
The stock is up 37.5% this year, as of the last close.
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25th Jun 01:05 PM AEST
Australian gold stocks eye best session in 2 weeks
Image: © Zentilia | Megapixl.com
Australian gold stocks AXGD added upto 2.1% to eye their best session since 11 June 2021, after bullion prices steadied post dipping overnight while awaiting U.S. inflation data.
Gold miner Chalice Mining Ltd (ASX:CHN), the top gainer, rose nearly 8% in its biggest one-day percentage gain since 26 May 2021; RED 5 Limited (ASX:RED) added 5.4%.
Gold major Northern Star Resources Limited (ASX:NST) and Newcrest Mining Limited (ASX:NCM) advanced 3% and 2%, respectively.
The sub-index has hit its highest level in a week, headed for a 1.7% weekly gain.
AXGD has lost 7.9% so far this year, vs a 10.5% increase in the broader benchmark ASX 200 index AXJO.
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25th Jun 01:04 PM AEST
Family Zone Cyber (ASX:FZO) jumps on potential acquisition of edu-tech provider
Shares of Family Zone Cyber Safety Limited (ASX:FZO) jumped as much as 5.9% to AU$0.63, on course for their best session since 4 June 2021.
FZO, which operates a platform for parents to monitor child behaviour and mobile content, said it signed a non-binding letter of intent to buy U.S.-based Net Ref, a classroom management technology business.
The Company stated deal for estimated consideration is worth around AU$4.3 million.
FZO said potential acquisition would be funded via AU$23 million capital raising.
The stock is at its highest since 15 June 2021 and more than 1.7 million shares got traded versus the 30-day average volume of ~714,000 shares.
The stock is up 28.3% this year, as of the last close.
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25th Jun 01:03 PM AEST
Australia's Aeon Metals (ASX:AML) hits 1-week high on CEO appointment
Base metals explorer Aeon Metals Limited (ASX:AML) rose as much as 5.5% to AU$0.08, highest since 18 June 2021.
The Company names Fred Hess as new managing director and CEO, effective Friday.
Hess has been the interim managing director and CEO since March 2021.
The stock is headed for third straight week in the red, loses 1.3% for the week.
The shares are down 30.5% this year so far.
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25th Jun 12:19 PM AEST
Australian miners extend gains for 4th session tracking China coke futures
Aussie miners AXMM jumped as much as 1.6%, posting the fourth consecutive session of gains on Friday.
AXMM has hit its highest since 17 June 2021.
The Australian mining subindex takes cues from Chinese coke futures that jumped on Thursday, on fears of tighter supply amid environmental curbs.
Sector heavyweights BHP Group Limited (ASX:BHP) and Rio Tinto (ASX:RIO) gained as much as 1.3% and 1.6%, respectively.
Australian miners added 0.6% in the previous session.XMM is up 7.8% this year, as of the last close.
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25th Jun 12:18 PM AEST
GTI Resources (ASX:GTR) climbs on Utah project progress
Shares of uranium explorer GTI Resources Limited (ASX:GTR) increased 15.9% to AU$0.026, the highest since 11 June 2021.
The Company stated uranium drilling has started on Section 36 of its Henry Mountains Uranium Vanadium Project in Utah.
The stock has posted its biggest intraday percentage gain since 9 June 2021.
Nearly 14 million shares have got traded versus a 30-day average volume of ~6.3 million.
Though the stock is down 4.4% YTD, as of the last close, it was trading 13.636% up at AU$0.025 per share at 12:00 PM AEST.
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25th Jun 11:56 AM AEST
Red River (ASX:RVR) secures offtake deal with Glencore for Hillgrove gold
Red River Resources Limited (ASX:RVR) has announced it has signed an offtake agreement with leading global commodity producer and trader Glencore International AG for gold concentrate produced at its Hillgrove Gold Mine in New South Wales.
Image: © Tomas1111 | Megapixl.com
Multi-asset operating business focused on base and precious metals, RVR has started gold production from Bakers Creek stockpile material in December 2020 and will sell 100% of gold concentrate produced at Hillgrove to Glencore under the offtake agreement.
Red River trucked its first load of gold concentrate from Hillgrove on 18 June 2021. Commissioning activities at Hillgrove are progressing, stated the ASX announcement.
The RVR shares traded 2.5% up at AU$0.205 per share at 11:30 AM AEST.
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25th Jun 11:29 AM AEST
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25th Jun 11:24 AM AEST
Mining giant Vale and China’s Baowu plans to invest in Indonesia’s nickel project
Source: Copyright © 2021 Kalkine Media
China’s state-owned iron and steel company, Baowu, Brazilian multinational company, Vale SA and Shandong Xinhai Technology, combinedly plans to invest in Indonesia's nickel pig iron (NPI) project.
- China’s second-biggest stainless-steel producer, Taigang Iron and Steel, a subsidiary of Baowu, inked a framework agreement with NPI maker Xinhai and PT Vale Indonesia (PTVI) to operate Morowali’s Bahodopi nickel processing facility located in Sulawesi.
- Vale will hold 49% interest in the project, while Xinhai and Baowu will split the remaining 51%.
- Indonesia is the biggest producer of nickel in the world. The country has already attracted various Chinese miners to invest billions of dollars.
- The country also plans to restrict NPI smelter construction to optimise the use of its higher value products, ministry personnel said on Thursday.
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25th Jun 11:11 AM AEST
PTB Group (ASX:PTB) acquires United Turbine from Continental Aerospace Technologies
ASX-listen aviation company PTB Group Limited (ASX:PTB) shared today that it struck an agreement to acquire the assets of the United Turbine from Continental Aerospace Technologies.
As per the announcement, the asset purchase includes United Turbine’s inventory, work in progress, tooling and equipment.
The purchase price is likely to be around AU$4.3 million, to be funded from PTB’s available cash.
As per the ASX announcement, United Turbine is recognised as a known firm in the PT6 overhaul industry, having a reputation of quality workmanship. Also, Continental has divested with United Turbine as it probably desires to focus on the piston engine market.
At 11:15 AM AEST, the PTB stock was trading 2. 189% higher at AU$0.700 per share.
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25th Jun 11:10 AM AEST
Crude oil surges to 3-year high levels amid robust demand
Source: © Emeraldgreen | Megapixl.com
Crude oil prices surged to three-year high levels on Thursday amid strong energy demand and a fall in US inventories.
- August delivery Brent crude oil futures traded 0.08% up at US$75.68 per barrel, and WTI crude oil futures for August delivery traded at US$73.41 per barrel, up 0.15% as of 25 June 2021 at 10:27 AM AEST.
- Data from Germany showed the largest jump in retail conditions in more than three decades, raising expectations for fuel demand recovery.
- The US crude oil inventories tumbled to their lowest level since March 2020 along with a significant fall in gasoline stocks too.
- The revival of the 2015 US-Iran deal is expecting a further delay of months, boosting positive sentiments for crude oil prices.
- Brent has gained more than 45% in 2021 on recovering demand and significant production cuts by OPEC and its allies.
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25th Jun 11:09 AM AEST
Nagambie (ASX:NAG) climbs on permit application for gold toll treatment plant
Nagambie Resources Limited (ASX:NAG) gained as much as 14.3% to AU$0.080, on track for its biggest gain since 26 March 2021.
The gold explorer said the Company and Golden Camel Mining have applied for a planning permit to construct and operate a 180,000 tonnes-per-annum gold toll treatment plant at the Nagambie mine in the state of Victoria.
The Company's application is in response to a local tender.
The stock is up 75% this year, as of the last close and was trading 4.285% up at AU$0.073 per share at 10:50 AM AEST.
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25th Jun 11:00 AM AEST
Huon Aquaculture (ASX:HUO) climbs on allowing due diligence to interested parties
Huon Aquaculture Group Limited (ASX:HUO) gained as much as 7.1% to AU$2.880, hitting its highest since 1 February 2021.
Image: © Flyfishingnation | Megapixl.com
The salmon producer stated its strategic review, which it kicked off in February due to unsolicited approaches, remains ongoing.
HUO said it is currently facilitating due diligence by select interested parties in order to explore whether a transaction is possible.
The stock is up 1.1% this year, as of the last close.
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25th Jun 10:59 AM AEST
Pilbara Minerals (ASX:PLS) approves staged restart at Ngungaju plant, shares trade strong on ASX
Lithium producer Pilbara Minerals Limited (ASX:PLS) has reported that it has taken further significant steps towards growing spodumene concentrate production at its 100%-owned Pilgangoora Project located in Western Australia.
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After securing the Board’s approval of the staged restart of the Ngungaju Plant, it is anticipated that these operations will restart during the December Quarter 2021. Also, it is expected that annual production will be ramped up to approximately 180,000 to 200,000 dmt by mid-2022. This will see the combined annual production capacity of the Pilgangoora Project rise to 560,000 to 580,000 dmt.
As per the ASX announcement, the restart will expand production capacity, increase the scale of operations and provide production flexibility as the Company looks to satisfy rapidly growing market demand.
The estimated restart cost is around AU$39 million.
The PLS shares on the ASX traded 2.588% higher at AU$1.585 per share at 10:40 AM AEST.
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25th Jun 10:45 AM AEST
Why are Weebit Nano (ASX:WBT) shares soaring today?
The share price of semiconductor memory technology developer Weebit Nano Ltd (ASX:WBT) soared 13.249% at AU$1.795 at 10:30 AM AEST.
Image: © Kalman89 | Megapixl.com
The Company shared that it has developed the industry’s first-ever commercial assimilation of an oxide-based ReRAM (OxRAM) cell with an ovonic threshold switching (OTS) selector. This is an important stage in the Company’s path towards commercialisation in the stand-alone memory market.
As per the ASX announcement, this achievement is a crucial step towards broadening Weebit’s target market beyond embedded non-volatile memory (NVM).
Weebit also mentioned that the Company and its development partner CEA-Leti have achieved this milestone three months ahead of Weebit’s earlier declared schedule.
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25th Jun 10:29 AM AEST
Lucapa Diamond (ASX:LOM) sells Seven Lulo Diamonds for A$28.3 million
Diamond producer Lucapa Diamond Company Limited (ASX:LOM), announced on 25 June 2021 that the seven big, high-grade and fancy coloured diamonds recovered in 2021 and weighing 620 carats from the Lulo alluvial mine were offered for sale via tender organised by Sodiam in Luanda.
Image: © Bwylezich | Megapixl.com
The seven Lulo diamonds brought a total sales price of US$21.4 million (AU$28.3 million), indicating an average price of US$34,548 (A$45,603) per carat.
The values achieved for the Lulo diamonds illustrate the solid diamond market after the pandemic in 2020, where rough diamond prices have continued to strengthen on the back of low rough supplies and returning consumer demand, the Company shared via the ASX announcement.
This sale brings total sales for the six months to date to US$38.8 million (AU$50.6 million) at an average price of US$3,275 (AU$4,272) per carat, cementing Lulo’s position as the highest price alluvial production globally.
Meanwhile, the stock LOM traded last at AU$0.046 per share on the ASX.
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25th Jun 10:16 AM AEST
Charter Hall (ASX:CHC) boosts its FUM to A$52 billion
Property investment and funds management firm Charter Hall Group (ASX:CHC) has provided an update on property revaluations and the resultant impact on Group Funds Under Management (FUM).
The Group’s FUM Platform will generate gross valuation increases of AU$3.3 billion inclusive of AU$0.6 billion of development capex, which will result in forecast Group FUM rising to around AU$52 billion as at 30 June 2021.
Group FUM has risen to AU$12 billion over the course of FY21, providing 28% growth in FUM, the Company shared.
CHC will post its financial year 2021 results on 23 August 2021.
The stock CHC traded last at AU$15.230 per share.
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25th Jun 10:07 AM AEST
Victorian govt selects CIMIC (ASX:CIM) as the preferred proponent to deliver North East Primary Package
CIMIC Group Limited (ASX:CIM) companies - Pacific Partnerships, CPB Contractors and Ventia1 along with other members of the Spark consortium, have been selected by the Victorian Government as the preferred proponent to deliver the North East Link Primary Package PPP in Melbourne, the capital goods Company shared.
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The North East Link Primary Package PPP provides three-lane twin tunnels that will close the missing link in Melbourne’s freeway network. As many as 135,000 vehicles will be using North East Link every day, reducing congestion in the north-east while maintaining local roads for local trips.
The Primary Package PPP is the biggest element of the North East Link project. Revenue to CIMIC Group is likely to be around AU$4 billion across the construction and operations phase.
Other members of the Spark consortium include WeBuild, GS Engineering and Construction, China Construction Oceania, Capella Capital, John Laing Investments and DIF.
The North East Link Primary Package is Australia’s first PPP contract procured through a collaborative model.
The last traded share price of the stock was AU$20.030 per share.
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25th Jun 09:27 AM AEST