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6th Jul 01:08 AM PDT
Carnarvon Petroleum (ASX:CVN) jumps on deal to produce renewable fuels
Oil and gas explorer Carnarvon Petroleum Limited (ASX:CVN) gained as much as 3.5% to touch AU$0.295, its highest since mid-April.
The Company shared it had formed a joint venture with Melbourne-based environmental consultancy and services provider Frontier Impact Group to produce renewable diesel and other sustainable products.
CVN will be investing AU$2.6 million in seed capital to enable the first project to reach financial close, expected by early 2022.
JV has potential to lower CVN's emissions intensity on a portfolio basis, CVN said.
In a separate release, CVN committed to achieving net zero emissions by 2050; The Company will also be offsetting all its current Scope 1 and Scope 2 emissions.
The stock is down 5% this year so far and ended 1.755% down at AU$0.280 per share today.
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6th Jul 01:04 AM PDT
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6th Jul 12:24 AM PDT
ASX ends 0.7% lower after RBA tweaks bond buying; telco, tech drag
Australian shares ended lower on Tuesday, amid sharp sell-off in the final hour of day’s trade after the Reserve Bank announced plan to tweak its quantitative easing to weekly AU$4 billion bond purchases until November. The central bank, however, kept the official cash rate steady at 0.1% and retained the bond yield target of 10 basis points.
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The S&P/ASX200 ended 53.20 points or 0.73% lower at 7,261.80, crossing below its 20-day moving average, paring early gains. Early today, the index opened higher at 7,308 and gained as much as 0.5% to hit an intraday high of 7,343. In the final hours of day’s trade, the index swinged over 1% from day’s high to hit intraday low of 7,261.
The lingering concerns over rising COVID-19 cases also weighed on the market. In the past 24 hours, NSW reported 18 new locally transmitted COVID-19 cases, while two new cases were recorded in Western Australia.
The market breadth, indicating the market's overall strength, was weak with nine of the 11 sectoral indices ending in red. The telecommunications services sector was the top laggard with a 1.35% loss. Among others, health care, information technology, consumer discretionary, industrials and consumer staples were notable losers.
Meanwhile, the energy sector was the best performer on the ASX with a 1.53% gain. The Aussie energy stocks gained momentum, tracking crude oil prices after OPEC nations called off talks on output levels, which meant that no deal to boost production had been agreed.
The information technology ended in red for the third consecutive session. In the tech space, buy-now-pay-later giant Afterpay (ASX:APT) and network operator Megaport (ASX:MP1) were among the top losers.
Meanwhile, ASX-listed energy stocks continued gaining momentum for the third consecutive session. Index heavyweight Woodside Petroleum (ASX: WPL), Santos (ASX:STO), Oil Search Ltd (ASX:OSH), Origin Energy Ltd (ASX:ORG), Beach Energy Limited (ASX:BPT) and Ampol Limited (ASX:ALD) were trading in the green.
In the banking sector, all the Australia’s big four lenders - Commonwealth Bank of Australia (ASX:CBA), Australia and New Zealand Banking Group Limited (ASX:ANZ), Westpac Banking Corporation (ASX:WBC) and National Australia Bank Limited (ASX:NAB) – ended in red post RBA policy announcement.
Energy firm Oil Search Ltd (ASX:OSH) was the top percentage gainer on the ASX, rising 4.7%. Some of the other top gainers were Whitehaven Coal Ltd (ASX:WHC), EML Payments Limited (ASX:EML), IGO Limited (ASX:IGO), Pilbara Minerals Limited (ASX:PLS), Incitec Pivot Limited (ASX:IPL) and Beach Energy Limited (ASX:BPT).
On the flip side, health care firm Polynovo Limited (ASX:PNV) was the worst performer on the ASX, falling 9.13%. Ramelius Resources Limited (ASX: RMS), Appen Limited (ASX: APX), Polynovo Limited (ASX:PNV), Clinuvel Pharmaceuticals Ltd. (ASX:CUV), Orocobre Ltd (ASX:ORE) and Regis Resources Limited (ASX:RRL) were among notable losers.
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5th Jul 11:41 PM PDT
Carpentaria (ASX:CAP) falls most in six weeks on share placement
Iron ore explorer Carpentaria Resources Ltd (ASX:CAP) slumped as much as 23.3% to AU$0.165, its worst intraday percentage drop since 26 May 2021.
The Company stated that it has raised AU$35.6 million via issue of 54.3 million shares at issue price of AU$0.15 per share.
The issue price represents a 30% discount to CAP's close of AU$0.215 on 1 July 2021.
The issued shares represent 13.2% of CAP's free float of 411.5 million shares, according to Refinitiv Eikon.
Also, the firm has announced a 1-for-2.6 underwritten entitlement offers of 183 million shares to raise about AU$27.5 million.
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5th Jul 11:16 PM PDT
Etherstack (ASX:ESK) at near two-week high on earnings outlook upgrade
Wireless communications software developer Etherstack Plc (ASX:ESK) rose as much as 3.9% to AU$0.67, its highest since 23 June 2021.
The Company said its first-half revenue is now expected to be $4.2 million, above previous view of between $3.5 million and $4 million.
The Company has performed a revenue forecast upgrade as ESK’s completion of delivery of items was not included in the previous outlook. Also, the firm is running ahead of schedule on two projects.
The Company reaffirmed that FY21 will "significantly outperform" FY20.
ESK has posted its biggest intraday percentage gain since 29 June 2021.
Up 4% so far this year, the stock closed 0.775% up at AU$0.650 per share today.
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5th Jul 10:27 PM PDT
archTIS (ASX:AR9) hits two-week high on expanding operations in EMEA
Shares of archTIS Limited (ASX:AR9) jumped as much as 6.1% to A$0.260, their highest since 22 June 2021.
The cyber security firm stated it is expanding its presence across Europe, Middle East and Africa with the creation of a new United Kingdom (UK) corporate unit.
The Company stated that it expects to finalise the formation of UK corporate subsidiary in the coming week.
The stock has fallen 21% this year, as of the last close and was trading 4.081% higher at AU$0.255 per share at 2:50 PM AEST.
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5th Jul 10:22 PM PDT
Alpha HPA (ASX:A4N) strikes a deal with Worley Services, shares gain
Shares of Alpha HPA Limited (ASX:A4N) rose as much as 6.4% to A$0.500, set to snap their third consecutive session of losses.
The alumina supplier said it has nominated Worley Services Ltd as preferred engineering, procurement, and construction (ePCM) contractor to HPA First Project in Gladstone, Queensland.
The Company stated it has executed an interim agreement with Worley for full-scale HPA First Project Front End Engineering and Design (FEED).
Alpha HPA said it has also executed a water supply contract with Gladstone Area Water for HPA First Project.
The stock is up 49.2% this year, as of the last close and was trading at 0.470 per share at 3:17 PM AEST.
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5th Jul 10:13 PM PDT
Immutep (ASX:IMM) rises on USFDA, IRB approval for cancer drug trial
Shares of biotech firm Immutep Limited (ASX:IMM) rose as much as 8.5% to AU$0.575, their best day since 31 May 2021.
The Company has received Food and Drug Administration (FDA) and institutional review board (IRB) approval in the United States for Phase IIb TACTI-003 trial in Head and Neck Squamous Cell Carcinoma (HNSCC).
The trial will be evaluating Company’s experimental lead drug candidate, eftilagimod alpha, as a first-line therapy in about 154 patients with HNSCC.
The stock has hit its highest since 24 June 2021.
IMM stated patient recruitment for the TACTI-003 trial is expected to begin within this quarter.
The Company was granted fast-track designation for eftilagimod alpha to treat first-line HNSCC patients by the FDA in early April.
The stock is up 27.7% so far this year and was trading 3.301% higher at AU$0.547 per share.
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5th Jul 09:38 PM PDT
Native Mineral Resources (ASX:NMR) rises on securing access to WA gold project
Shares of Native Mineral Resources Holdings Limited (ASX:NMR) rose as much as 1.8% to AU$0.28, their highest since 29 June 2021.
The Gold-focused mineral explorer has executed a Pastoral Access Deed with Next Horizon 888 Management for the Music Well Gold Project in Western Australia.
The Company stated the deal is worth AU$135,000 and provides consent from the lease holder for diamond drilling and other development works of the project.
The Company stated it has also secured unrestricted access to key access roads and tracks servicing the Music Well Project area.
The stock is down 35.3% this year, as of the last close.
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5th Jul 08:07 PM PDT
Aussie energy stocks extend gains to hit a near three-week high as oil prices rise
Australian energy subindex AXEJ climbed as much as 2.3%, its highest-level since 17 June 2021.
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The Aussie energy stocks track oil prices that rose on Monday, after OPEC+ nations called off talks on output levels, which meant that no deal to boost production has been agreed.
Australia's energy subindex is set to post its third consecutive session of gains today.
Papua New Guinea-focused oil and gas explorer Oil Search Limited (ASX:OSH) advanced as much as 3.9%, eyeing its best day since 3 June 2021.
Oil and gas explorer Beach Energy Limited (ASX:BPT) and Australia's biggest independent gas producer Woodside Petroleum Limited (ASX:WPL) rose as much as 3.1% and 2.5%.
AXEJ is up 3.3% this year, as of the last close.
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5th Jul 07:46 PM PDT
Mid-Market: ASX edges higher ahead of RBA meeting; energy, material stocks lead
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Australian shares were trading higher by Tuesday afternoon, led by gains in energy, materials, utilities and financial stocks. The domestic bourses got off to a cautious start as investors anxiously awaited monetary policy announcement by the central bank, which will set tone for the market.
The S&P/ASX200 was trading up by 12.60 points or 0.17% at 7,327.60 during the mid-market session, crossing above its 20-day moving average. Early today, the index opened just 6 points higher at 7,321 and gained as much as 0.4% to hit an intraday high of 7,346.
The Reserve Bank is widely expected to keep cash rate at record low, while it may announce changes in emergency stimulus measures. Overall, the centra bank is expected to maintain its dovish stance in wake of the uncertainty caused by resurgence of COVID19 cases and lockdowns in Sydney. NSW has reported 35 new locally transmitted COVID-19 cases in the past 24 hours.
On the sectoral front, only four of the 11 sectoral indices were trading in green, while remaining seven were flashing in red. The energy sector was the best performer with 1.99% gain. Among others, materials, utilities and financial were notable gainers.
Meanwhile, telecommunications services emerged as the worst performer, falling 0.8%. Among others, consumer staples, health care, industrial and information technology were among top laggards.
Continuing gains for the third consecutive session, ASX-listed energy stocks were among top performer today. Index heavyweight Woodside Petroleum (ASX: WPL), Santos (ASX:STO), Oil Search Ltd (ASX:OSH), Origin Energy Ltd (ASX:ORG), Beach Energy Limited (ASX:BPT) and Ampol Limited (ASX:ALD) were trading in green.
In the mining sector, index heavyweights BHP Group (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue Metals Group (ASX:FMG) were trading higher, owing to firm iron ore prices.
In the banking sector, all the Australia’s big four lenders - Commonwealth Bank of Australia (ASX:CBA), Australia and New Zealand Banking Group Limited (ASX:ANZ), Westpac Banking Corporation (ASX:WBC) and National Australia Bank Limited (ASX:NAB) – were trading higher ahead of the Reserve Bank policy meeting.
Among the individual stocks, Australia’s biggest independent coal miner Whitehaven Coal Ltd (ASX:WHC) was top percentage gainer of ASX, rising 5.15% to AU$2.15. Some of the other notable gainers were EML Payments Limited (ASX:EML), IGO Limited (ASX:IGO), Pilbara Minerals Limited (ASX:PLS) and Beach Energy Limited (ASX:BPT).
On the flip side, gold miner Ramelius Resources Limited (ASX: RMS) was worst performer on the ASX pack, falling 4.3% to AU$1.67. Polynovo Limited (ASX:PNV), Appen Limited (ASX: APX), Clinuvel Pharmaceuticals Ltd. (ASX:CUV) and Regis Resources Limited (ASX:RRL) were among notable losers.
Read More: Shares in news
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5th Jul 07:45 PM PDT
Copper prices hit two-week highs as uptrend in dollar stalled
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Copper prices rose to two-week highs on Monday as the uptrend in the dollar stalled and expectation for the supplies have boosted.
- September delivery copper futures traded 0.22% up at US$4.347 per pound as of 6 July 2021 at 11:01 AM AEST.
- The rise in the US currency made metals more expensive for other currency holders, that has weighted copper prices earlier.
- The prices are expected to rise further on the back of supply deficit and higher demand in the infrastructure sector, and electrification of vehicles.
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5th Jul 07:19 PM PDT
Calix (ASX:CXL) hits record high after executing MoU for lime calciner project
Shares of mineral processing services provider Calix Limited (ASX:CXL) jumped as much as 11.6% to AU$3.09, hitting a record high.
Calix and Tarmac, a UK-based sustainable building materials and construction solutions business, have executed an MoU to develop a calciner for lime production, with carbon-dioxide capture.
Calix said the MoU outlines intent of parties to conduct feasibility and Front-End Engineering Design (FEED) studies on project.
The stock posted its biggest intraday percentage gain since 28 April 2021 and is up 157.7% this year so far.
CXL was trading 8.664% up at AU$3.010 per share at 12:00 PM AEST.
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5th Jul 07:18 PM PDT
Ramelius Resources (ASX:RMS) hits two-month low on gold production miss
Shares of gold miner Ramelius Resources Limited (ASX:RMS) fell as much as 6% to AU$1.64 – their lowest level since 3 May 2021.
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The Company has recorded full-year gold production of 272,109 ounces, below its guidance range of 275,000 ounces to 280,000 ounces.
The Company stated its June-quarter gold production of 61,840 ounces also below guidance range of 65,000 ounces to 70,000 ounces.
RMS also mentioned that numerous rainfall events and COVID-19 lockdown restrictions hit production from Edna May production centre in Western Australia.
The stock has posted its biggest intraday percentage drop since 17 June 2021.
RMS is up 3.5% this year, as of the last close.
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5th Jul 06:39 PM PDT
Mineral Resources (ASX:MIN) secures rig to drill conventional gas well
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Mineral Resources Limited (ASX:MIN), the mining infrastructure provider, announced today that its wholly-owned subsidiary Energy Resources Limited (ERL) has secured a drilling rig for conventional gas exploration. The exploration rig is for well Lockyer Deep 1, situated in the onshore Perth Basin, Western Australia. It is a highly prospective northern section of the Perth Basin hosting several significant recent conventional gas discoveries.
ERL holds the largest petroleum acreage in the Perth Basin and in the onshore Northern Carnarvon Basin. Therefore, the drilling of Lockyer Deep1 will be a significant milestone for MIN. It will be a wide-ranging, conventional gas probe in Perth and Northern Carnarvon Basin acreage.
It also aligns with MIN’s strategy to secure its natural gas supply. As a result, it will provide energy security for the Company’s current and future mining operations at lower cost and lower emissions. MIN has committed to achieving Net Zero Emissions by 2050. Lockyer Deep 1 is a critical aspect of this journey is to reduce MIN’s reliance on diesel fuel, utilising its natural gas supply as part of the energy transition.
MIN shares traded on ASX at AU$56.665, 0.380% higher at 11:30 AM AEST.
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5th Jul 06:29 PM PDT
EML Payments (ASX:EML) rises; RBC forecasts upbeat earnings for FY22, FY23
Payments solution provider EML Payments Limited (ASX:EML) gained as much as 6.5% to AU$3.78 on Tuesday morning.
The stock has posted its biggest intraday percentage gain since 21 May 2021.
Brokerage firm RBC Capital Markets expects its FY22 and FY23 EBITDA estimate to be AU$73.6 million and AU$101.9 million, up 2% and 10%, respectively, over its previous announced outlook.
RBC has upgraded rating to "outperform" from "sector perform" and lifted price target to AU$4.5 from AU$3.5, as per the Refinitiv data.
EML is on track to post a third consecutive session of gains.
The stock is down 15.1% this year, as of the last close.
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5th Jul 05:56 PM PDT
Abacus (ASX:ABP) acquires a portfolio of self-storage assets in Sydney
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Abacus Property Group (ASX:ABP) a leading Aussie real estate company, announced today, acquisition of a portfolio of self-storage assets within the premium inner Sydney Significant Urban Area. Storage King currently manages the assets.
The acquired portfolio of five assets provides more than 25,000 square metres of net lettable area (NLA) to ABP. The consideration payable by ABP for these assets is AU$160 million. It is excluding transaction costs, and settlement is expected on 3 August 2021. ABP is going to use its existing debt facilities to fund the acquisition.
AS per ABP, Managing Director Steven Sewell, the assets are located within tightly held catchments. Therefore, it will benefit ABP as these assets generate demand from above-average household incomes, large proportions of renters, and continually increasing density from apartment development.
The transaction also demonstrates the sustained acquisition pipeline generated by ABP from the Storage King platform. In addition, it aligns with ABP’s strong asset-backed business model, where capital is directed towards assets in key sectors to obtain potential for enhanced income growth and value creation.
ABP shares traded at AU$3.250, down 0.915% at 10:52 AM AEST.
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5th Jul 05:54 PM PDT
Crude oil jumps after UAE rejected output curb proposal
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Crude oil prices rose on Monday as OPEC+ countries called off talks on production levels after the United Arab Emirates rejected the proposal for an eight-month extension to output curbs.
- September delivery crude oil futures traded flat at US$76.00 per barrel, whereas August delivery WTI crude oil futures traded 1.57% up at US$76.34 per barrel as of 6 July 2021 at 10:20 AM AEST.
- The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, agreed to significant production cuts in 2020 to stabilise the oil market during last year's pandemic led oil crash.
- The members of OPEC+ have been gradually easing the production, but the plan to increase the output by 2Mbpd from August to December 2021 was blocked by UAE.
- Positive European economic data additionally boosted the prices of crude oil. Eurozone businesses expanded activity at the fastest rate in last 15 years, during the last month.
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5th Jul 05:49 PM PDT
SRG Global (ASX:SRG) at near two-year high after upbeat FY21 forecast
Shares of SRG Global Limited (ASX:SRG) rose as much as 7% to AU$0.535, their highest since 13 August, 2019.
The construction contractor shared it expects FY21 EBITDA to be at top end of previous outlook range of AU$45 million to AU$47 million.
SRG sees FY22's EBITDA to be ~15% higher than a year earlier, the firm stated.
The Company added that there is minimal impact of labour and COVID-19 challenges in FY21 due to "specialist" nature of business.
The stock has posted its biggest intraday percentage gain since 16 February.
About 980,000 shares got traded as compared to the 30-day average volume of 581,000 shares.
The stock is up 20.5% this year, as of the last close.
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5th Jul 05:47 PM PDT
Carnarvon (ASX:CVN) commences renewable fuels business venture
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Carnarvon Petroleum Limited (ASX:CVN), the oil and gas company, today announced a joint venture with Frontier Impact Group (FIG). FIG has been an active player in the biorefinery business in Western Australia. CVN has formed this joint venture to produce renewable diesel and other sustainable products.
CVN and FIG both will own 50 per cent equity in the joint venture. In addition, CVN will invest AU$2.6 million in seed capital to enable the first project to reach financial close, expected by early 2022.
The joint venture plans to use internationally proven technology to process waste feedstock and produce renewable diesel, high-quality biochar, and wood vinegar. The high-quality biochar could be processed further into high-quality graphene, which has many next-gen applications in electronics and batteries. The joint venture also intends to pursue Australian Carbon Credit Units (ACCUs) accreditation to produce renewable diesel and other associated activities.
The initiative enhances CVN’s ESG profile ahead of Dorado financing and development. It also provides CVN with a pathway to minimise its future emissions intensity. In addition, the JV business complements the existing production value proposition from the Dorado and Buffalo oil fields.
CVN shares traded 1.754% higher at AU$0.290 at 10:40 AM AEST.
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5th Jul 05:47 PM PDT
Strategic Elements (ASX:SOR) to develop Autonomous Vehicle for Defence with DST
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Strategic Elements Limited (ASX:SOR) has reported today that its subsidiary ‘Stealth Technologies’ will be designing and delivering an autonomous drone carrying vehicle that automates detection and sensing of chemical, biological, radiological and nuclear agents.
The Company will collaborate with Defence Science Technology Group (DSTG), part of the Australian Department of Defence, and the University of Western Australia to build the solution and conduct a live demonstration to Army. The Western Australian Defence Science Centre has agreed to part fund the collaborative work.
The autonomous vehicle will carry drones and sensors into a target environment keeping humans at a safe distance. The autonomous drone will enable rapid traversing of the target area using sensors to map and/or monitor the location of chemical, biological, radiological and nuclear (CBRN) sources, as per the Company’s announcement.
Meanwhile, the stock SOR traded 6.976% strong at AU$0.230 per share at 10:30 AM AEST.
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5th Jul 05:26 PM PDT
Bionomics (ASX:BNO) initiates Phase 2b of ATTUNE study for PTSD patients
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Bionomics Limited (ASX:BNO), the global clinical-stage pharmaceutical company, announced its Phase 2b trial of the ‘ATTUNE’ Study. The study focuses on evaluating the tablet formulation of BNC210 amongst patients with Post-Traumatic Stress Disorder (PTSD).
BNC210 is a novel, first-in-class treatment formulation for anxiety and stressor-related disorders. It has also received a Fast Track designation by the U.S. Food and Drug Administration (FDA) to treat PTSD and other disorders.
The ATTUNE Study - Phase 2b, as per BNO, will be a clinical trial with a 12-week treatment period. The primary objective will be to compare BNC210 to placebo on the improvement in PTSD symptom severity.
The trial protocol was submitted by BNO, to the U.S. FDA, at the end of May 2021. As of 22 June 2021, BNO was granted approval by Institutional Review Board (IRB). Clinical sites have now been activated by BNO and are open to screen for potential study participants.
Beyond PTSD, BNO will also be leveraging the rapid absorption profile of the BNC210, for acute treatments in Social Anxiety Disorder patients. BNO is looking forward to providing details of the study design and timelines shortly.
BNO shares traded 2.501% lower at AU$0.195 at 10:30 AM AEST.
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5th Jul 05:15 PM PDT
ASX opens flat ahead of RBA’s meet
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The Australian share market opened flat on Tuesday after US stocks closed higher on Friday. The ASX 200 opened just 6 points higher at 7,321. The benchmark index would be closely tracked due to a monetary policy meeting by Reserve Bank of Australia (RBA) which may see the official cash rate stay at a record low. The central bank is also expected to unveil the next leg of its bond-buying program.
Over the last five days, the index has gained 0.27% and is currently 1.15% off its 52-week high. On Monday, the ASX 200 ended flat at 7,315 points after rising as much as 0.5% earlier in the session.
Metals & Mining and Resources led the early gains. Health Care and Industrials were trading in the red in the morning trade. The Aussie dollar was hanging around AU$0.7515 on Monday, after recovering from a seven-month low of US$0.7445, hit on Friday.
Meanwhile, the S&P 500 closed 0.75% higher on Friday. The Dow Jones rose 0.4%, while the NASDAQ Composite was up 0.81%. Wall Street was closed for trade on Monday.
Read More: ASX 200 gains: What’s lifting the shares ahead of RBA meet?
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5th Jul 05:05 PM PDT
Westpac (ASX:WBC) sells New Zealand Life Insurance business, enters 15-year distribution deal
One of the four largest banks of Australia, Westpac Banking Corporation (ASX:WBC) announced on Tuesday that it has agreed with Fidelity Life Assurance Company Limited to sell Westpac Life-NZ- Limited and enter into an exclusive 15-year agreement for the distribution of life insurance products to Westpac’s New Zealand customers.
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WBC informed, the sale price of NZ$400 million (approximately AU$373 million) is likely to result in a post-tax gain on sale and add approximately 7bps to Westpac Group’s common equity tier 1 capital ratio.
The transaction, as per the Company, will also include ongoing payments from the distribution agreement to Westpac New Zealand Limited.
Fidelity Life Assurance Company Limited is New Zealand’s largest locally owned life insurer, backed by cornerstone investor the NZ Super Fund.
Meanwhile, the stock WBC traded last at AU$25.530 per share.
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5th Jul 05:04 PM PDT
Payright (ASX:PYR) Q4FY21 numbers exceed forecasts
Payright Limited (ASX:PYR), the Buy now pay later (BNPL) service provider, shared a trading update for Q4FY21, ending 30 June 2021.
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Key highlights-
PYR achieved a record quarterly Gross Merchandise Value (GMV) of AU$26.1 million, up 134% on pcp. In the month of June, it achieved a record monthly level of GMV at AU$9.2 million.
PYR added a record 6000 new customers in the Q4FY21; this was much ahead of guidance. The total customers of PYR were 53,400, as of 30 June, up by 58% on pcp.
Total merchant stores were up 41% on pcp and were in line with PYR’s guidance.
The receivables lying with PYR were AU$69.4 million before an audit; it was up 47% on pcp, much ahead of guidance provided.
The growing number of customers, merchants and receivables books have placed PYR for continual growth.
The stock PYR traded last at AU$0.510 per share.
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5th Jul 04:45 PM PDT
Cann Global’s (ASX:CGB) shipment of Canntab hard pill received in Australia
Cann Global Limited (ASX:CGB) has shared that the unique CBD 12.5mg and CBD 25mg pharmaceutical grade hard pill formulations have been received in Australia.
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A driving force in the hemp food and medical Cannabis industry, Cann Global had informed the market on 17 June that the shipment of two of the six Canntab products was impending.
Canntab’s CBD formulations will be available for ordering by pharmacies once the shipment has cleared customs.
As per the Company, the products can be prescribed by practitioners via the Special Access Scheme (SAS) Category B application pathway.
The SAS is a mechanism by which individual patients can access an unapproved therapeutic good through their health practitioner. It allows certain health practitioners to access therapeutic goods that are not included in the Australian Register of Therapeutic Goods (ARTG) for a single patient.
The stock traded last at AU$0.006 per share.
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5th Jul 04:37 PM PDT
ASX 200: Surging commodity prices to lift miners and energy players
On Tuesday, the ASX 200 is set to open higher, ahead of an important monetary policy meeting by the central bank that may see its cash rate stay at a record low. In addition, higher commodity prices would likely to help local miners and energy stocks to gain in today’s session. On Monday, the ASX 200 closed 0.09% up at 7315.
Trading across the globe was thinner than usual, with US markets closed for the extended 4th of July weekend.
The dollar index was last down 0.1%, to 92.262, falling below Friday's low. However, with a 2% rise in the last three weeks since the US Fed announced its projected rate hikes in 2023, analysts think the US dollar still has more room to rise further.
On Monday, crude oil climbed higher as OPEC+ nations called off talks on supply levels, meaning no deal to boost production has been agreed.
Brent crude oil futures were up 0.2%, to US$76.32 per barrel, while WTI crude oil futures gained 0.2% to US$75.31 per barrel.
