Live ASX News Today
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28th Jun 04:49 PM AEST
Australian supermarket giant Woolworths' (ASX:WOW) shares spurred by lockdown
Woolworths Group Ltd (ASX:WOW) stock rose as much as 3% to AU$37.89, registering its best day since 10 May 2021.
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The gains in shares of supermarket giant spurred by lockdown in Sydney and renewed restrictions elsewhere on highly contagious Delta variant of COVID-19 across the country.
Prior lockdowns have seen a surge in demand for household essentials.
More than 20 million Australians, or around 80% of the population, now under some form of lockdown or COVID-related restrictions
Woolworths earlier on Monday said its stores would remain open throughout the lockdown.
WOW shares among top percentage gainers on the benchmark ASX 200 index AXJO.
Company's recently listed retail drink segment Endeavour Group (ASX:EDV) added as much as 5.1%.
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28th Jun 04:48 PM AEST
Rectifier Technologies (ASX:RFT) drops most in 15 months, scraps dividend
Rectifier Technologies Ltd (ASX:RFT) dropped as much as 18.9% to AU$0.030, its worst intraday percentage fall since March last year.
The power rectifier maker stated it will not declare dividends for FY21 due to the expected reduction in earnings for the year.
The prelim outlook for FY21 revenue is between AU$11 million and AU$12 million, down from AU$16.7 million recorded in FY20.
The Company sees FY21 net profit after tax between AU$200,000 and AU$700,000, down from AU$1.9 million a year ago.
The expected decline in earnings is reduced customer spending, impacting RFT's sales and supply shortages due to coronavirus restrictions.
The stock has hit its lowest since May 2020.
About 8.8 million shares got traded as compared with the 30-day average of more than 1.2 million shares.
The stock is down 2.6% this year, as of the last close.
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28th Jun 04:34 PM AEST
Aussie tech stocks see worst day in nearly seven weeks as Afterpay (ASX:APT) tumbles
Australian tech stocks AXIJ fell as much as 3.3% to 2,173.90 in their biggest intraday percentage drop since 13 May 2021.
The Sub-index is top loser in the ASX 200 benchmark AXJO.
The Buy-now-pay-later firm Afterpay Limited (ASX:APT) dropped up to 7.7% in its worst intraday session in more than six weeks, weighing on the sub-index.
APT stock had gained more than 27% so far in the June quarter, as of the last close.
Growth stocks such as APT are seeing a normalisation in valuation following a bumper 2020, as economies reopen, and vaccination programmes allay threats of further coronavirus waves.
Other top losers in the sub-index include Nearmap Limited (ASX:NEA) and EML Payments Limited (ASX:EML), down as much as 4.5% and 3.8%, respectively.
AXIJ is up about 12% so far in the June quarter, versus a 7.5% rise in the AXJO.
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28th Jun 03:37 PM AEST
Cyclopharm (ASX:CYC) sees worst day ever on FDA response to drug application
Pharmaceutical firm's shares Cyclopharm Limited (ASX:CYC) plunged as much as 43.4% to AU$1.55, on track for worst session ever.
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The Company shared U.S. Food and Drug Administration (FDA) was unable to provide New Drug Application (NDA) for its product, Technegas, in its present form.
Cyclopharm stated FDA has provided a definitive list of items and recommendations for outstanding elements to be addressed within a year.
Developed by the Company, Technegas is inhaled by patients to detect respiratory diseases.
The Company expects to resolve all outstanding issues and aims to secure approval for commercial sales of Technegas in the U.S. market in 2022.
About 1.4 million shares got traded as compared to the 30-day average of 21,990 shares.
The stock is on track for second consecutive session of declines and has hit lowest since September 2020.
Overall, the shares are up 9.6% this year so far.
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28th Jun 03:37 PM AEST
GWR Group (ASX:GWR) posts substantial gains on deal with Pilbara Resource
Shares of GWR Group Limited (ASX:GWR) rose as much as 4.7% to AU$0.335, their highest since 12 May 2021.
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The gold and iron ore explorer said it has executed a Heads of Agreement (HOA) for a mining contract with Pilbara Resource Group Pty Ltd.
The Company stated HOA is for the Stage 2 development of the C4 Iron Deposit in Wiluna, Western Australia.
GWR said Pilbara will also provide mining, crushing, haulage and accommodation services.
The stock is down 27.3% so far this year but was trading 1.562% higher at AU$0.325 per share at 3:20 PM AEST.
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28th Jun 03:26 PM AEST
Australia's Verbrec (ASX:VBC) jumps on winning multiple contracts
Engineering services firm Verbrec Limited (ASX:VBC) gained as much as 7.4% to AU$0.145, their biggest intraday percentage jump since 3 June 2021.
The Company has secured multiple contracts and said project work-in-hand rose to AU$70 million, up 56% from January.
The contracts awarded include multi-year asset management services agreement, extension to existing pipelines operations and maintenance agreement, among others.
The Company added contracts are expected to generate up to AU$25 million in revenues over the coming years.
Though the stock is down 50% this year, as of the last close, it was trading 3.703% higher at AU$0.140 per share at 3:19 PM AEST.
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28th Jun 03:25 PM AEST
Star Entertainment Group (ASX:SGR) falls as curbs extend in Sydney casino
Shares of casino operator Star Entertainment Group (ASX:SGR) fell as much as 2% to AU$3.620, marking their worst session since 21 June 2021.
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The Company has advised that operations at the Star Sydney will remain closed at least until 9 July 2021 as the country's largest city went into a lockdown on Sunday to contain an outbreak of COVID-19 cases.
On Friday, the gambling firm said it would cease operations at its properties in Sydney till 2 July 2021 in response to the New South Wales government's seven day stay-at-home order.
SGR stated its Queensland properties shall function with certain restrictions in place from 29 June 2021.
The stock is down marginally this year, as of the last close.
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28th Jun 02:48 PM AEST
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28th Jun 02:14 PM AEST
RedHill Education (ASX:RDH) climbs on entering term sheet with iCollege
Shares of educational courses provider RedHill Education Limited (ASX:RDH) rose as much as 18.2% to AU$0.910, marking their best day since 10 November 2020.
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RedHill stated it has entered an indicative and non-binding term sheet with iCollege Limited (ASX:ICT) to provide exclusive due diligence for proposed off-market takeover offer by ICT.
The Company stated term sheet will be contemplating an increased offer price to 9.5 shares in ICT for every 1 share in RedHill.
RDH stated ICT's indicative proposal values RedHill at AU$1.05 per share, based on ICT's last close on 25 June 2021.
Though the stock is down 9.4% so far this year, the stock was spotted trading at AU$0.845 per share, up 9.740% at 2:00 PM AEST.
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28th Jun 02:11 PM AEST
Atomo Diagnostics (ASX:AT1) jumps 60% on FDA nod for COVID-19 test kit
The shares of Medical devices maker Atomo Diagnostics Limited (ASX:AT1) soared 59.3% to AU$0.22, set for their best single-day performance on record.
The firm shared that COVID-19 antibody test developed with S.Korea's Access Bio Inc has got emergency use authorisation from the U.S. Food and Drug Administration.
Atomo informed both companies are discussing commercial arrangements for the rapid test's launch.
The stock is at its highest level since 7 May 2021.
About 15.5 million shares got traded, almost fourteen times the 30-day average volume, in their busiest trading day since May 2020.
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28th Jun 02:10 PM AEST
Australia's Freelancer (ASX:FLN) climbs on securing NASA contract
Shares of online outsourcing marketplace Freelancer Limited (ASX:FLN) rose as much as 8.928% to AU$1.220, their highest since 23 June 2021.
The Company stated it has secured a NASA contract to improve the speed of the U.S. Bureau of Reclamation's sedimentation and river hydraulics project.
Freelancer said it has received a US$510,000 task order for the project.
The stock has more than doubled in value this year.
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28th Jun 01:08 PM AEST
Probiotec Limited (ASX:PBP) jumps most in over two weeks on acquisition
Pharma company Probiotec Limited (ASX:PBP) gained as much as 6.6% to AU$2.26, their biggest intraday percentage jump since 9 June 2021.
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The firm stated it has agreed terms to buy Sydney-based H&H Packaging (H&H) for total of up to AU$4 million.
The Company informed it sees acquisition generating revenue and EBITDA of about AU$6 million and AU$1 million, respectively, for the year ending June 2021.
The firm added that acquisition will add plastic moulding capabilities which can be rolled out across its business.
The stock has hit its highest since 21 June 2021.
The stock is down 11.7% this year, as of the last close.
At around 1:20 PM AEST, the stock was trading 3.301% higher at AU$2.190 per share.
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28th Jun 01:02 PM AEST
Joyce Corp (ASX:JYC) hits over three-and-half-month high on robust outlook
Joyce Corporation Ltd (ASX:JYC) jumped 7.3% to AU$2.79, its highest level since 11 March 2021.
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The Home furnishing firm stated that trading environment in the second half of fiscal 2021 has been stronger than last year, backed by robust demand.
The written sales orders in CY21 till May-end reflect strong sales momentum, the Company informed.
JYC is on track for its best single-day performance since 7 April 2021.
About 11,166 shares got traded so far.
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28th Jun 01:01 PM AEST
Gold Road Resources (ASX:GOR) falls after quarterly forecast disappoints
Shares of Gold Road Resources Limited (ASX:GOR) fell as much as 8.8% to AU$1.295, posting their biggest intraday percentage loss since 2 March 2021.
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The gold explorer has forecasted lower-than-expected gold production for the June quarter at its Gruyere gold mine to be about 52,000 to 55,000 ounces due to disruptions.
The firm expects all-in sustaining cost per ounce for June quarter to be in the range of AU$1,675 to AU$1,800 per share.
The Company stated disruptions at its Gruyere gold mine operations included a torn mill feed conveyor belt which resulted in temporary repairs and reduced processing rates.
The stock is leading losses for ASX 200; hits lowest since 6 May 2021.
The stock is down 7.2% this year, as of the last close.
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28th Jun 12:56 PM AEST
Autosports (ASX:ASG) sees best day in 1 month on positive FY21 outlook
Shares of motor vehicle seller Autosports Group Limited (ASX:ASG) gained as much as 6.6% to AU$2.6 – their biggest intraday percentage gain since 27 May 2021.
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The Company stated it expects its FY21 total revenue to be between AU$1.92 billion and AU$1.96 billion, an increase of 13% to 15% on FY2020.
Autosports shared it sees its FY21 normalised net profit before tax (NPBT) between AU$68 million and AU$70 million, up 199% - 203% on FY2020.
The Company also has entered an agreement to acquire 80% interest in John Newell Mazda, a new- and used-vehicle dealer in Alexandria for AU$16 million.
The stock has hit its highest level since 18 June 2021.
ASG is on track to post a second consecutive session of gains; up 68.3% this year, as of the last close.
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28th Jun 12:46 PM AEST
Yojee (ASX:YOJ) eyes best day in 10 months on expansion agreement
Shares of Yojee Limited (ASX:YOJ) rose as much as 29.629% to AU$0.175, marking their biggest intraday percentage gain since 3 September 2020.
The cloud services provider shared that it has signed an agreement to expand its presence to 18 Asia-Pacific countries.
The Company has said that agreement is for a minimum of three years.
The stock has hit its highest since 28 April 2021.
More than 3 million shares have been traded so far as compared to the 30-day average volume of around 830,000.
The stock is down 32.5% YTD, as of the last close.
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28th Jun 12:45 PM AEST
Infinity Lithium (ASX:INF) climbs on supply deal with LG Energy
Shares of Infinity Lithium Corporation Limited (ASX:INF) rose as much as 15.9% to AU$0.095, their highest since 16 June 2021.
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The Lithium explorer has signed a deal to supply battery-grade lithium hydroxide to South Korean battery producer LG Energy Solution for at least 5 years from its Spain-based San Jose project.
The stock has posted its biggest intraday percentage gain since 10 June 2021.
The stock is down 47.1% YTD, as of the last close.
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28th Jun 12:36 PM AEST
Metcash (ASX:MTS) climbs on share buyback, higher dividend
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Wholesale grocery distributor Metcash Limited (ASX:MTS) climbed as much as 3.6% to AU$3.79, a two-month high.
Shares climbed by their most since 5 March 2021; The broader market AXJO is down 0.3%.
MTS has raised its dividend and announced a share buyback and strong full-year results.
The Company stated it will pay a final dividend of 9.5 cents per share, taking its total for the year to 17.5 cents, which is a 40% increase from a year ago.
The off-market share buyback is for up to AU$175 million.
Revenue has risen nearly 10% to AU$14.3 billion, with profit up 27.1% at AU$252.7 million.
The Company added sales have been strong in the first eight weeks of FY22.
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28th Jun 11:50 AM AEST
Travel stocks hammered as two-fifths of Australians face COVID-19 curbs
Qantas Airways (ASX:QAN), Webjet Limited (ASX:WEB) and Flight Centre Travel Group Ltd (ASX:FLT) dropped around 5% to lows not seen in more than a month.
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Around two-fifths of Australians, or 10 million, now find themselves under some form of restriction as the country grapples with an outbreak of COVID-19.
Sydney, the country's largest city, went into a two-week lockdown on Sunday.
Qantas dropped 5.7%, marking its sharpest fall since 21 December.
Travel sites Flight Centre dropped 5.2% to a 20 May low, while Webjet fell 4.7% to its lowest level since 24 May.
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28th Jun 11:49 AM AEST
Tesoro Resources (ASX:TSO) releases assay results from the Ternera Gold Deposit
Tesoro Resources Limited (ASX: TSO) reported assay results from extensional and infill resource definition drilling at the Ternera Gold Deposit.
Assays for 10 drill holes at Ternera have been received, with all holes returning significant gold results.
Multiple high-grade bonanza intercepts were returned, confirming the Ternera mineralising model and the influence of north-south fault zones on high-grade gold mineralisation at Ternera.
Furthermore, Tesoro has finished 179 diamond drill holes totalling 55,724 metres at El Zorro.
The share price of the stock TSO was quoted at AU$0.150 per share, up3.448% at 11:40 AM AEST.
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28th Jun 11:49 AM AEST
Warrego Energy (ASX:WGO) successfully places A$50 million shares to meet gas demand
Warrego Energy Limited (ASX:WGO) reported receipt of firm commitments to place AU$50 million of share, at AU$0.22 per share.
The Placement comprises of two tranches:
- Tranche One of 147.1 million shares for AU$32.4 million, to be issued within the Company’s placement capacity in accordance with ASX Listing Rule, and
- Tranche Two of 80.2 million shares for AU$17.6 million, subject to shareholder approval at a general meeting of the Company.
The proceeds will be funding Warrego’s upcoming commitments for Phase 1 of the West Erregulla gas project. The project includes a gas processing plant and long lead items for the upstream gathering systems and re-entry. It also includes drilling, testing and completion of the currently suspended WE-3 appraisal well of WGO.
Warrego, with this Placement, is now well-positioned to become a key producer of gas in WA. It will fulfil the continuously growing demand in this region.
WGO shares traded at AU$0.227 at 11:08 AM AEST.
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28th Jun 11:49 AM AEST
Australian Mines (ASX:AUZ) shares surge on progress at its Lennard and Deakin University Projects
Australian Mines Limited (ASX:AUZ), the IRMA registered miner, reported successful exploration completion for its Lennard project. AUZ commissioned a machine-learning artificial intelligence (AI) study over the tenement, utilising publicly available remote sensing (Landsat), magnetic and radiometric data.
The study identified areas with higher mineral prospectively to be prioritised by AUZ in the next phase of exploration at Lennard. The next phase is reported to target potential nickel sulphide mineralisations. It will include an airborne electromagnetic (AEM) survey coupled with detailed geological mapping and surface geochemical sampling programs, and resulting anomalies will be drill tested by AUZ.
It also reported positive results on its Project with Deakin University’s Institute for Frontier Materials on 25 June 2021. AUZ said that the Project is progressing to the next phase, which includes commercial trials.
Its R&D subsidiary recently completed Phase 1 of this ‘Optimising of scandium containing aluminium alloys project’. It included identifying new scandium-aluminium alloys having the potential to improve industrial processes within the energy industry. The Project shall now move to its Phase 2, where AUZ will undertake commercial trials and leverage the extensive alloy expertise of Deakin University. AUZ will undertake phase 2 to secure patent protection on successful trial alloys and retain 100% ownership of all resulting intellectual property.
The second phase is expected to run for nine months.
AUZ shares traded 9% up at AU$0.024 at 11:22 AM AEST.
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28th Jun 11:39 AM AEST
Prospect Resources (ASX:PSC) starts production at the Arcadia Pilot Plant
Prospect Resources Ltd (ASX: PSC) declared the completion of commissioning and construction at the Arcadia Lithium Project Pilot Plant, as well as the start of production. The Pilot Plant is being built and operated to produce high purity petalite samples for Prospect's future technical customer base.
On the 30 June, Prospect will welcome offtake partner Sinomine Resources, and Presidential representatives from several government ministries, to the site to oversee the first transfer of product to Sinomine Resources.
“We have effectively proved our competence to deliver this project in Zimbabwe”, said Prospect Managing Director Sam Hosack. He also added, they are now looking forward to providing high purity lithium products to the downstream supply chain, where they will be used to finish product validation processes.
PSC stock was spotted trading at AU$0.195 per share at 11:00 AM AEST.
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28th Jun 11:39 AM AEST
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28th Jun 11:12 AM AEST
Family Zone Cyber Safety raises A$23 million for the acquisition of Net Ref
Family Zone Cyber Safety Ltd (ASX: FZO) announced that it has secured binding commitments to raise AU$23 million before costs by issuing 42,990,654 additional fully paid ordinary shares at an issue price of AU$0.535 per share.
The Company also declared that it had signed a non-binding letter of intent to acquire Net Ref, a leading educational technology company in the United States. Net Ref is a complete classroom management and learning analytics application that has quickly grown to serve over 450,000 students since its recent inception.
Net Ref's purchase provides the Company with a fresh and unique product line and access to highly relevant technical and sales knowledge in the United States.
Meanwhile, the share price of the stock FZO was quoted at AU$0.610 per share, down 3.175% at 11:10 AM AEST.
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28th Jun 11:10 AM AEST
Rimfire (ASX:RIM) secures A$7.5 million farm out for Avondale project
Rimfire Pacific Mining NL (ASX:RIM) announced the execution of an Earn-in and Joint Venture Agreement with Golden Plains Resources Pty Ltd (GPR) for the Avondale Project. The Farm out will accelerate and expand Rimfires’ exploration strategy.
GPR has committed to pay AU$1 million to fund exploration activities in the first year of the agreement. GPR may optionally contribute further AU$1.5 million in Year 2 to earn a 40% interest in the property and AU$2.5 million in Year 3 to increase its’ interest to 70%. It can also extend AU$2.5 million in Year 4 to get a further 5% interest in the JV Area.
Rimfire is said to retain the responsibility and control for the design and execution of fieldwork programs during the Earn-in period. The Valley and Cowal areas will also remain with Rimfire.
RIM shares last traded at AU$0.009 on 28 June 2021, 10:52 AM AEST.
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28th Jun 11:09 AM AEST
Iceni Gold’s (ASX:ICL) drilling at Deep Well target gets completed
Iceni Gold Limited (ASX:ICL), the Perth based Gold explorer, reported that the drilling campaign at the Deep Well target has been completed.
ICL has identified three diamond drill holes with intersects of multiple narrow zones. The zones are highly visible, with bright hematite alteration surrounding the quartz veining in it. It has notable tourmaline and pyrite as well. Alteration has been observed in all the three holes by ICL, in over a strike length of 200m.
The drill core is to be processed by ICL, sampled and sent to the laboratory for assaying. The drilling process was carried out after gold anomalism was identified in previous exploration work.
ICL shares last traded at AU$0.200 per share.
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28th Jun 10:58 AM AEST
Cronos Australia (ASX:CAU) launches third personal care brand Saiph in Asia
Cronos Australia Limited (ASX: CAU), the health and wellness company, has launched its new personal care brand in Asia.
The new CBD brand, Saiph, has been launched in the key North Asian markets of Japan and Hong Kong.
The initial Saiph range includes a CBD cleanser - Ablution, and a CBD moisturiser - Tranquillity. Both are made in Japan and contain the same unique blend of pure essential oils suitable for sensitive skin.
The Products will be sold by CAU through retailers and directly to consumers via e-commerce channels. Saiph products are not yet available in Australia for regulatory reasons.
The total addressable market in the skin and body care segments targeted by CAU is more than US$20 billion.
CAU shares last traded last at AU$0.110, up 4.761% at 10:50 AM AEST.
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28th Jun 10:20 AM AEST
MAAS Group (ASX:MGH) announces strategic and complementary acquisitions to support growth
Known independent construction materials, equipment and service provider MAAS Group Holdings Limited (ASX:MGH) has announced on Monday that it has acquired several strategic and complementary acquisitions to support continued growth across business segments.
As per the release, the total consideration for the commercial and industrial real estate additions is AU$47.2 million; for residential acquisitions, the total consideration is AU$31.0 million; for strategic real estate, it is AU$45.5 million. This brings to a total consideration amount of AU$123.7 million.
MGH also shared that it has negotiated increased headroom and more flexible covenants for its core Australian bank financing facilities.
The agreement has been reached to upsize the existing Australian debt facilities from AU$160 million to AU$200 million. Also, consent has been secured to enable MGH to source project finance funding of up to an additional AU$100 million for nominated commercial property development projects.
Together, these initiatives enable MAAS Group to access AU$300 million of debt capacity for its Australian operations.
The stock MGH traded last on the ASX at AU$5.780 per share.
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28th Jun 09:41 AM AEST
Cynata (ASX:CYP) moves ahead in clinical trial in diabetic foot ulcers
Clinical-stage biotechnology firm Cynata Therapeutics Limited (ASX:CYP) has announced on 28 June 2021 that it has appointed known clinical research firm Datapharm Australia to help conduct and manage the proposed clinical trial of Cynata’s CymerusTM mesenchymal stem cell product in diabetic foot ulcers.
The involvement of Datapharm shows an essential milestone towards starting the trial.
As per the Company, patient enrolment for the trial is likely to be initiated in the second half of this year.
Datapharm is an Australian full-service CRO providing clinical trial management, design, site set-up, clinical monitoring, statistical services, data management, medical writing, pharmacovigilance, GCP auditing and patient recruitment services.
Diabetic foot ulcers show a significant unmet need. The disease often results in hospitalisation, amputations and even fatalities. The burden of this disease is growing, and current treatment options have limited success. The estimated market value is nearing US$10 billion.
Meanwhile, the last traded share price of the stock was AU$0.520 per share.
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28th Jun 08:22 AM AEST
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28th Jun 08:16 AM AEST