Live ASX News Today
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29th Jul 05:06 PM AEST
Advanced Human Imaging (ASX:AHI) to launch WinScan App, stock ends strong
Advanced Human Imaging Limited (ASX:AHI) shared an update on Tinjoy WinScan launch and preregistration on Thursday. Backed by the same, the stock with AU$142.39 of market capitalisation ended 8.653% strong at AU$1.130 per share today.
Key Highlights
- The Company will launch the WinScan app in mid-August 2021.
- Tinjoy’s marketing platform ‘The Health Cube’ has received 114,391 preregistrations.
- Tinjoy is targeting 1,000,000 users by Christmas 2021.
- Tinjoy is servicing over 28,000,000 monthly consumers digitally and in person.
The stock AHI closed 10.576% at AU$1.150 per share today.
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29th Jul 04:55 PM AEST
ASX ends 0.5% higher; BHP, Rio, Iress surge
Australian shares ended higher on Thursday after the US Federal Reserve indicated that it was in no hurry to taper stimulus. The market sustained upmove on the back of solid gains in tech and material stocks. The equity market witnessed bullish trend despite rise in COVID-19 cases as investors seemed to have shifted focus to corporate earnings reports.
The ASX 200 added 38.10 points or 0.52% to settle at 7,417.40. Earlier today, the index opened?higher, driven by strong rally in blue-chip miners BHP, Rio Tinto and Fortescue Metals. While slump in property and utilities stocks restricted market’s gains.
The market breadth, indicating the market's overall strength, was strong with seven of the 11 sectoral indices ending in green.
The information technology index was the best performer with 2.7% gain, tracking a slight rise in Nasdaq overnight. In the IT space, software firms IRESS, Nuix, Altium were among top losers. Buy Now Pay Later firms Afterpay, Zip and Sezzle also ended in green.
The material index rallied 1.5%, led by index heavyweights BHP Group (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue Metals (ASX:FMG), which hit their respective highs.
Among others, telecom, health care, consumer discretionary and energy also ended in positive territory with modest gain.
Bucking the trend, A-REIT emerged as the top laggard, closing 1.3% lower. Among others, utilities, consumer staples and financial ended in red zone.
Among the individual stocks, fintech firm IRESS Limited (ASX:IRE) led gainer list, jumping 13.4%, after the company rejected a AU$2.96 billion bid from a private equity firm.
On the losing side, global online marketplace Redbubble (ASX: RBL) topped the chart with 3.4% loss.
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29th Jul 03:54 PM AEST
Splitit (ASX:SPT) increases total shoppers & merchants in Q2 FY21
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Splitit Payments Ltd (ASX:SPT), the Company empowering shoppers to use their credit cards to pay in instalments, provided an update on its quarterly activities and cash flows for the three months ending 30 June 2021 (Q2 FY21).
Key highlights:
- The Company has posted a record Merchant Sales Volume (MSV) of US$90.3 million, up 38% Year over Year (YoY), ending H1 FY21. The total MSV has touched US$172.4 million, up 93% YoY.
- Total merchants have risen 167% to 2.8K.
- Total Shoppers have increased 66K to reach 566K.
- SPT reported crucial partnership with tabby, the leading Middle East BNPL provider and with QisstPay, UnionPay International, ChargeAfter and Green Feather.
- Splitit InStore was launched to provide an omnichannel merchant solution.
- Consolidation of debt facilities significantly reduced the cost of funds, improving margins through H2 FY21.
The stock, at 3:45 PM, traded at AU$0.485 per share.
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29th Jul 03:08 PM AEST
Aussie tech stocks climb most in three weeks, IRESS leads gains
Australian tech shares AXIJ rose 2.9%, their biggest one-day gain since 7 July 2021, tracking a slight rise in Nasdaq overnight.
Fintech firm IRESS Limited (ASX:IRE) led gains, jumping 16.2%, after the Company rejected a AU$2.96 billion bid from a private equity firm.
Heavyweight buy-now-pay-later firm Afterpay Limited (ASX:APT) gained 3.9%, its biggest intraday percentage rise since 20 July 2021.
Software firms Altium Limited (ASX:ALU) and Xero Limited (ASX:XRO) rose as much as 4.6% and 3.4%, respectively.
AXIJ has lost 7.7% this year, as of the last close, versus a 12% increase in the broader ASX 200 index AXJO.
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29th Jul 01:41 PM AEST
Tesserent (ASX:TNT) sees best day in over two weeks on strong Q4
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Shares of cybersecurity services provider Tesserent Limited (ASX:TNT) gained as much as 8.9% to AU$0.305, their biggest intraday percentage gain since 12 July 2021.
The Company has reported operating EBITDA of AU$3.8 million in Q4, up 125.5% from the previous quarter on the back of strong sales growth during the period.
The turnover has risen 81.4% to AU$38.2 million as compared to the previous quarter.
The stock has hit its highest since 15 July 2021.
More than 10 million shares have been traded so far as compared to a 30-day average of 4 million shares.
The stock is down 16.4% this year, as of the last close but was 7.142% higher at AU$0.300 per share at 1:30 PM AEST.
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29th Jul 01:16 PM AEST
Shares of Agency Group Australia (ASX:AU1) jump on earnings outlook
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Shares of financial services provider The Agency Group Australia Ltd (ASX:AU1) rose as much as 34.6% to AU$0.07, their biggest intraday percentage gain since 6 April 2021.
The Company stated it expected unaudited EBITDA for FY21 to exceed AU$4 million, a near seven-fold jump from last year's AU$700,000.
The firm reported a jump in earnings as transactions in FY21 jumped 58% to 4,964.
The Company reported combined group revenue of AU$16 million for the fourth quarter, up 74% from last year.
The stock has hit its highest since 5 May 2021.
More than 18.5 million shares have been traded versus the 30-day average of about 402,000 shares.
AU1 is marginally up this year, as of the last close.
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29th Jul 01:03 PM AEST
Australian gold explorer Regis (ASX:RRL) jumps on higher FY22 output view
Shares of Regis Resources Limited (ASX:RRL) gained as much as 8.870% to AU$2.700, on track for their best day since 1 July 2021.
The Company expects FY22 gold output of 460,000-515,000 oz, much higher than 372,870 oz reported for FY21.
The Company forecasted all-in sustaining costs of AU$1,290-AU$1,365/oz for 2022, lower than AU$1,373/oz in fiscal 2021.
More than 3.2 million shares traded by 0038 GMT vs their 30-day moving average of 5.2 million shares.
Up to Thursday's close, stock down 31.2% this year.
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29th Jul 12:51 PM AEST
ASX-listed Straker Translations (ASX:STG) tracks best day in 2 months as Q1 rev jumps
ASX-listed shares of the New Zealand-based translation services provider (ASX:STG) rose 5.9% to AU$1.80, set for best day since 25 May 2021.
The Company has reported 49% jump in Q1 revenue, mainly driven by more than doubling of revenue from its strategic alliance with IBM.
Q1 gross margin has improved to 57% from 48% a year earlier.
Up to Wednesday's close, the stock is up 15.2% this year.
As on 12:15 PM AEST, the stock was trading 1.176% higher at AU$1.720 per share.
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29th Jul 12:51 PM AEST
ASX 200 rises 0.5%; Rio Tinto, BHP, Fortescue hit record high
Australian?shares?witnessed bullish trend on Thursday,?with the benchmark index, ASX 200, gaining as much as 0.5% on strong buying across tech and material stocks. In material space, blue chip?miners?Rio Tinto, BHP?and Fortescue Metals were among top performers, hitting their record highs.
AT the time of lunch, ASX 200?was trading?higher by 28.90 points or 0.39% to 7,408.2.?The index opened?higher after the US Federal Reserve affirmed the economic recovery was on track despite a surge in coronavirus infections.
The market witnessed broad-based buying, with?eight?of?the eleven sectors trading in?green zone.?Information technology?was?the?best?performer with?2.4% gain, followed by?materials?which?rallied 1.5%.????????
Among others,?health care, consumer staples, energy and utilities were?also?trading?higher.???????????????
Bucking the trend,?A-REIT?was?the?worst performer?with over 0.9% loss. Some of the other sectors that?witnessed?selling?includes financial and?industrials.???
Software firm Iress (ASX: IRE) was top percentage gainers on the ASX pack, rising nearly 13% after rejecting a takeover bid from EQT Fund Management.
Some of the other notable gainers were god producer Regis Resources Limited (ASX:RRL), infant formula company A2 Milk Company Limited (ASX:A2M), tech firm Megaport Limited (ASX:MP1) and biopharma company Clinuvel Pharmaceuticals Ltd. (ASX:CUV).
On the flip side, property firm Ingenia Communities (ASX:INA) was top loser on the ASX, falling 2.4% by lunch.
Some of the other worst performers include industrial firm Seven Group Holdings (ASX:SVW), media firm News Corporation (ASX:NWS), Ansell Limited (ASX:ANN) and real estate player GPT Group (ASX:GPT).
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29th Jul 12:51 PM AEST
Fortescue Metals (ASX:FMG) jumps on record quarterly iron ore shipments
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Fortescue Metals Group Limited (ASX:FMG), world's fourth-largest iron ore miner, rose as much as 3% to AU$26.58 per share on Thursday.
The Company posted record quarterly iron ore shipment of 49.3 million tonnes (Mt) up from 47.3 Mt a year ago, and beats RBC Capital Markets and UBS estimates.
FMG said it expects to ship 180 Mt-185 Mt for fiscal 2022, in line with shipments of 182.2 Mt in 2021, and above RBC estimate of 179 Mt.
FMG has outperformed the S&P/ASX 200 Materials (Industry Group) sector .AXMAJD by 5.5 percentage points in the past one month and is on track for a fourth straight session of gains.
The stock is among top 10 percentage gainers in the ASX 300 Metals & Mining index AXMM.
FMG is up 10.2% this year so far and was 1.549% higher at AU$26.210 per share at 12:40 PM AEST on Thursday.
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29th Jul 11:27 AM AEST
Resolute Mining (ASX:RSG) sheds more than 6% on reduced quarterly production
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Resolute Mining Limited (ASX:RSG), the gold mining company, shared its quarterly activities report for the period ended 30 June 2021. RSG’s quarterly production was 10% lower than the prior quarter.
The lower production reported was linked to the following reasons-
- At the Mako project - production was disturbed during the cut-back phase.
- At Syama Sulphide - record levels of mining and processing were offset by power disruptions, extended maintenance and lower grades.
- At Syama Oxide - record tonnes processed were offset by lower blended grades and increased circuit stocks.
The total operating costs for RSG remained in line with the prior quarter. However, lower gold production increased the unit cost for the quarter’s all-in sustaining cost.
RSG shared that, Syama Hybrid Power Station is now fully operational, with final testing of the battery storage system ongoing. RSG has also completed early repayment of AU$20 million debt, lowering its borrowing costs.
RSG share traded 6.638% lower at AU$0.527 at 11:20 AM AEST.
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29th Jul 11:26 AM AEST
Carbine Resources (ASX:CRB) shares maiden targets at Muchea Project
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Carbine Resources Limited (ASX:CRB), the mineral explorer, provided an update on its 100%-owned Muchea West Silica Sands Project. A maiden Exploration Target is now reported for the Muchea West Project.
Preliminary attrition test work completed on composite drill samples indicate possible final product upgrades of >99.9% SiO2 and a lowering of Fe2O3. <100ppm >. It also indicated that the grade is sufficient for use in the Float and Container glass market. Further test work indicates an unusually high grade and can be used for several premium products in the Silica Glass Market.
Mapping and drilling have now been defined in the area. All 82 Ausco holes drilled have returned white sand profiles of greater than 99.0% SiO2. Over 80% of Ausco holes drilled had white sand profiles greater than 99.6% SiO2.
CRB share traded on ASX at AU$0.002 at 10:45 AM AEST.
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29th Jul 11:19 AM AEST
Increased mine supplies are pushing copper for the biggest monthly drops
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Copper prices are set for the biggest monthly drop in the coming months on the back of increased supply from mines and China’s initiative to cap commodity prices.
- September delivery copper futures traded 0.04% down at US$4.47 per pound on COMEX as of 29 July 2021 at 10:09 Am AEST.
- Benchmark copper hit the record high level in May at US$10,747.50 per tonne on the back of strong demand from the automobile industry for the manufacturing of electric vehicles.
- Copper prices have taken a U-turn on worries of rising cases of coronavirus and China’s sale of strategic reserves, a move to cap commodity prices.
- The cash copper contract on the London Metal Exchange (LME) is anticipated to average US$9,000 per tonne in the fourth quarter.
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29th Jul 10:55 AM AEST
ASX 200 rebounds; FMG gains on exceeding FY21 shipment guidance
On Thursday, Australian shares have opened on a higher note as Wall Street ended mixed overnight after the US Federal Reserve affirmed the economic recovery was on track despite a surge in coronavirus infections
On Wall Street, the Dow Jones fell 0.36%, to 34,930.94, while the S&P 500 traded almost flat, with a minor loss of 0.02%, to 4,400.63. The NASDAQ Composite gained the most, rising 0.7%, to 14,762.58.
The top ASX 200 contributors are Iress Limited (ASX:IRE) and Domain Holdings Australia Limited (ASX:DHG), both surging 12.71% and 5.3%, respectively. On the losing front, Seven Group Holdings Limited (ASX:SVW) has lost 2.79% in the opening trade and Chalice Mining Limited (ASX:CHN) is down by 2.17%.
The market breadth is on a positive side, with 8 out of 11 sectors trading in green. The Materials sector is again gaining the most with a 1.3% uptick, followed by a 0.65% rise in the IT space. A-REIT is showing a lackluster performance, losing 0.45% in the opening session.
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29th Jul 10:54 AM AEST
Crude oil gallops to US$75 per barrel on a sharp decline in the US inventories
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Crude oil prices settled close to US$75 per barrel on Wednesday after data showed that US crude inventories reached to pre-pandemic level.
- The rapidly falling crude inventories have shifted the focus of investors to tight supplies rather than rising coronavirus cases.
- October delivery Brent Crude oil futures traded 0.01% up at US$73.88 per barrel, whereas September delivery WTI crude oil futures traded 0.03% up at US$72.41 per barrel as of 29 July 2021 at 9:38 AM AEST.
- As per the data released by the U.S. Energy Information Administration (EIA), crude oil inventories tumbled by 4.1 million barrels in the week ending 23 July.
- Gasoline product demand reached the highest level since October 2019 at 9.5Mbpd (four-week average), as per EIA data.
- The US economic recovery is on track, Federal Reserve said on Wednesday in a new policy statement.
- However, the rising cases of coronavirus are a matter of concern that can weigh oil prices.
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29th Jul 10:52 AM AEST
IRESS (ASX:IRE) shares surge on share buy-back news
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IRESS Limited (ASX:IRE), the software provider for the financial services industry, announced an on-market share buy-back of up to AU$100 million of ordinary fully paid shares. The buy-back is likely to begin post-release of IRE’s audited half-year results, scheduled for 19 August 2021. IRE has also announced some initiatives to accelerate growth and returns to shareholders.
IRE, under law, may buy-back up to 10% of issued capital without shareholder approval. IRE will fund the buy-back from existing cash and committed debt facilities. As a result, IRE will have to maintain a strong balance sheet following the completion of the buy-back. IRE also reserves the right to suspend the buy-back.
The Stocks in Action || Why IRE, PBH, VHT, WHK and JLG shares are in news today?
IRE’s medium-term targets include expanding segment profits to 30% and an 18% ROIC by FY25. It also wants to accelerate growth by changing its business model with automatic upgrades to clients. With this IRE is seeking an addressable revenue pool of more than AU$3 billion.
IRE is building scale in large addressable markets, especially in the UK’s superannuation and investment infrastructure. It is underway its transition to a single technology platform which is vital to unlocking scale and benefits.
IRE shares were spotted trading 14.908% higher at AU$14.375 at 10:50 AM AEST.
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29th Jul 10:46 AM AEST
PointsBet (ASX:PBH) announces Capital Raising to boost its balance sheet for long-term
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Corporate bookmaker PointsBet Holdings Limited (ASX:PBH) today announced a capital raising of approximately AU$400 million. This will feature:
- A fully underwritten 1 for 9 accelerated pro rata renounceable entitlement offer, with retail rights trading to raise approximately AU$184.9 million at AU$8.00 per share and,
- a fully underwritten institutional placement to raise AU$215.1 million.
As per the Company’s announcement, the Placement price will be at a fixed price of AU$10.00 per share.
What is the purpose behind this Capital Raising?
Constant with its aim of establishing and increasing its strong position in the rapidly expanding US sports betting and iGaming market, PointsBet is undertaking this Capital Raising to provide funding to support the following:
- North American marketing and client acquisition;
- Technology and product development (sports betting and iGaming);
- US market access and government licensing fees;
- Continued investment in talent and scale of operations; and
- Balance sheet flexibility.
As per the release, the placement will raise approximately AU$215.1 million and will be conducted at the fixed price of AU$10.00 per new share. This shows as discount of 11.4% to the AU$11.29 closing price of PointsBet on ASX on Wednesday, 28 July 2021.
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29th Jul 10:24 AM AEST
Wesfarmer’s (ASX:WES) indicative proposal rejected by API board
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Australian Pharmaceutical Industries (ASX:API) has rejected the unsolicited, non-binding, conditional indicative proposal from Wesfarmers Limited (ASX:WES), received to acquire 100% of API shares. The scheme of arrangement for cash consideration of AU$1.38 per share. The API Board has unanimously concluded that it is undervalued and not in the best interests of API shareholders.
The API board has done so after careful consideration and obtaining advice from its financial and legal advisers. API Board considered a lot of factors: timing of the Indicative Proposal, API’s portfolio of complementary wholesale and retail businesses, expected medium-term growth, digital health and beauty offering, earnings uplift and benefits of margin improvement.
API board clarified that the Indicative Proposal implies a premium of 18.7% to the three-month Volume Weighted Average Price (VWAP), which is significantly below the Australian market average for such transactions.
API said that it would only progress a change of control transaction if it recognises the fundamental value of API is in the best interests of its shareholders.
API and WES shares traded last at AU$1.410 and AU$61.550 respectively on the ASX.
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29th Jul 10:10 AM AEST
WhiteHawk (ASX:WHK) launches sale of Cyber Risk Scorecards on Amazon Web Services
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WhiteHawk Limited (ASX:WHK) announced on 29 July 2021 that its Cyber Risk Scorecards will now be available for purchase via the Amazon Web Services (AWS) Marketplace, by both public and private sectors.
WhiteHawk, a member of the AWS Partner Network (APN), is first kicking off marketing and sales directly to Federal Government and Defense Industrial Base clients.
By purchasing Cyber Risk Scorecards either annually or quarterly, U.S. Defence Industrial Base and Federal clients can seamlessly baseline and monitor their suppliers, complying with their regulatory framework.
Key benefit being easy access to the Cyber Risk Scorecard utilizing existing AWS accounts without additional procurement and purchase processing.
The announcement also shared that ‘go to market opportunities’ with AWS Federal are also being developed.
The stock WHK traded last at AU$0.200 per share on the ASX.
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29th Jul 10:05 AM AEST
Johns Lyng (ASX:JLG) acquires Steamatic Australia
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Johns Lyng Group Limited (ASX:JLG), the integrated building services company, shared today that it has acquired a 60% controlling equity interest in Steamatic Australia - a national restoration services company.
The acquisition is effective from 1 July 2021.
As per the ASX announcement, the deal strengthens Johns Lyng’s position as a national market leader in restoration services and represents natural progression of the Group’s global expansion strategy following the acquisition of the Steamatic Global Master Franchise in FY19.
Steamatic Australia employs 190 staff and operates a total of 39 locations.
The Stocks in Action || Why IRE, PBH, VHT, WHK and JLG shares are in news today?
The Company statement read that Steamatic Australia founder and CEO Oliver Threlfall will retain the remaining 40% equity of the business and maintain day-to-day operational responsibility.
As per the release, Johns Lyng paid approximately AU$10.8 million at Completion comprising AU$6.0 million in cash, AU$4.8 million in JLG Ltd shares, along with a potential future earn-out based on the financial performance of FY22 and FY23.
The acquisition of Steamatic Australia is likely to be immediately earnings accretive.
The stock JLG traded last at AU$5.390 per share with a market capitalisation of AU$1.20 billion.
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29th Jul 09:46 AM AEST
Volpara (ASX:VHT) gets FDA clearance for next-generation algorithm and architecture
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Volpara Health Technologies Limited (ASX:VHT), a health technology software firm, has received FDA clearance for the latest version of its key science algorithm, Volpara Imaging Software (VIS 3.2).
VIS 3.2 represents the set of algorithms behind the integrated Volpara Breast Health Platform — a product suite designed to enable earlier detection of breast cancers through improved mammography quality and workflow, volumetric assessment of breast density, and personalised breast care.
The Stocks in Action || Why IRE, PBH, VHT, WHK and JLG shares are in news today?
As per the ASX announcement, the clearance includes Volpara’s updated Open Virtual Appliance (OVA) architecture. This increases image processing security and makes it easier for Volpara to monitor, service, and update software service.
The stock VHT traded last at AU$1.105 per share on the ASX.
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29th Jul 09:30 AM AEST
ASX 200 to rise as US stocks close little changed after Fed statement
The Australian share market is expected to open higher on Thursday after US stocks closed little changed overnight despite the US Federal Reserve giving no clue when it might begin to taper its government bond purchase. However, Fed yet again said that economic recovery was on its way, even as coronavirus infections were rising.
According to the latest ASX futures, the benchmark ASX 200 index would open the day 18 points or 0.25% higher. On Wednesday, the benchmark fell 0.7% to 7,379.3 points.
On Wall Street, the Dow Jones fell 0.35%, the S&P 500 traded flat, and the NASDAQ jumped 0.7%.
After the latest monetary policy meeting ended on Wednesday, Fed Chairman Jerome Powell said that it was not yet time to think about raising interest rates. The exact timing to begin cut down in debt purchase would depend on incoming data, he added.
On the recent rise in consumer prices, Powell said that accelerating inflation resulted from "transitory factors."
Meanwhile, the Chinese stock market finally showed signs of stability after being severely hit this week on a deepening regulatory crackdown concerns.