Live ASX News Today
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9th Aug 07:22 PM AEST
Netflix Inc. to invest $500,000 in a public-private partnership with the Australian government
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In a move likely to boost skills and local involvement in Northern NSW, the world's leading streaming service, Netflix Inc. (NASDAQ:NFLX), has entered into a new public-private partnership (PPP) with the Australian government.
On 9 August 2021, production giant Netflix, NSW-based NGO Screenworks, and the NSW Government decided to come together to provide free of cost training for up-and-coming creatives aspiring to begin their journey in the screen industry. The partnership will also include funding of Screenworks' locations and crew referral services to ensure that more native professionals are hired in the industry throughout regional Australia. Reportedly, Netflix will invest $500,000 in this initial three-year pilot project. The three critical components of this program include Regional Crew Development Traineeships, Regional Crew Development Targeted Skill Set Training and Locations, and Crew Referral Services. Commenting on this development, Deb Richards, the Netflix Director of Studio and Production Affairs, today said that the investment was part of Netflix's continuing attempts to promote the growth of the local screen industry.
He further added that the trio has come into a partnership to make sure that people in regional Australia, especially those from different or underrepresented backgrounds, can take advantage of the enhanced production activity and employment opportunities.
Shares of Netflix Inc. (NFLX) today traded at US$520.55, which was a decline of 0.83% as compared to the previous close of US$524.89.
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9th Aug 06:32 PM AEST
With 17 gold medals, Australia shows stupendous performance in Tokyo Olympics 2021
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Amidst the Coronavirus pandemic, the Tokyo Olympics drew to a close on 8 August 2021, yesterday. This year, the title of the closing ceremony was the 'World's We Share.' Australia displayed its spectacular performance in the Tokyo Olympics 20221 and finished its campaign with 17 gold medals, 7 silver and 22 bronze.
During the Olympics, the 62-year-old Equestrian competitor Andrew Hoy gathered everyone's attention, who became the oldest ever Australian to win an individual bronze and a silver at the Tokyo Olympics. However, the reason why it became more significant was the fact that this was Hoy's eighth Olympic Games.
Another major victory of the just concluded Tokyo Olympics includes the astonishing performance of swimmer Emma McKeon, who won seven medals at a single Olympic Games. The 27-year-old won four gold and three bronze – thus becoming the first female swimmer and the second woman after Soviet gymnast Maria Gorokhovskaya to pick seven medals in any sport at an Olympics.
The United States stood at the number one position in the medals tally with 113 medals. These included 39 gold and 33 bronze medals. On the other hand, China has acquired number second in the medals tally with 88 podiums that consisted of 38 gold and 18 bronze medals. Meanwhile, Japan, the host country, finished a creditable third with 58 medals, comprising 27 gold and 17 bronze medals.
It should be noted that Australia's Brisbane has already won the bid to host the 2032 Olympic Games. Thus, Melbourne will be the third Australian city to host the games after Melbourne hosted the Olympics in 1956 and Sydney in 2000.
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9th Aug 06:10 PM AEST
Relaxation from lockdown restrictions in regional Victoria from 11.59 PM tonight
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With a slight relief in the Covid-19 situation, regional Victoria's chief health officer has suggested the government lift lockdown curbs in the State from 11.59 pm tonight. This came after as few as 11 new Coronavirus cases were reported in Victoria on 9 August 2021. From 11.59 pm tonight, residents in regional Victoria will now be allowed to come out of their respective homes. Though the people will be allowed to travel to Melbourne only under specified conditions, once they are in the capital city, they will have to follow the lockdown restrictions.
Noticeably, the lifting of lockdown does not mean that other restrictions or Covid protocols will not be followed. The government restrictions concerning the number of people allowed for outdoor gatherings in public spaces, religious gatherings and ceremonies, Weddings and funerals, continue to remain in place, with only a specified number of people permitted to participate in these gatherings. The number of people allowed in entertainment venues, community sport, retail and food and hospitality services has also been fixed. It is to be followed by the people living in the State. Besides, it is maandatory to wear face masks both indoors and outdoors.
Nonetheless, as Covid cases are rising in Melbourne, people are not allowed to leave their homes in metropolitan Melbourne unless it is for five specified reasons. The reasons include Shopping for essentials, exercise for up to two hours, compassionate and medical reasons, education, authorised work, and getting vaccinated. Furthermore, Melbourne Primary and secondary schools will shift to remote learning (exceptions for vulnerable children or children of authorised workers). The lockdown in Melbourne is due to lift on 12 August, at 8 PM.
With the fresh Coronavirus cases, the tally of active Covid cases has reached 56.
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9th Aug 04:46 PM AEST
ASX ends flat as miner, financial stocks wrestle; big four banks shine
Australian shares ended flat, paring early gains, as gains in financial and utilities stocks were offset by losses in material, industrial and tech companies. The slump in commodity and oil prices as well as persistent concerns over rising COVID-19 cases weighed on market sentiment.
The ASX200 ended flat at 7,538.40. Early today, the benchmark index opened flat and gained as much as 0.4% to hit a fresh record high of 7,567.
Among the individual stocks, insurance company Suncorp Group (ASX: SUN) topped the gainers’ list by rising 8%. Some of the other notable gainers were insurance major Insurance Australia Group (ASX: IAG), and real estate firm Charter Hall Long Wale REIT (ASX:CLW).
On the flip side, media firm News Corporation (ASX:NWS) emerged as the top loser, falling 7.7%. Some of the other worst performers were gold miners Gold Road Resources (ASX:GOR) and Ramelius Resources (ASX:RMS).
The market witnessed subdued trade today as seven of the 11 sectoral indices ended in red zone. Material sector emerged as top laggard with 1% loss, followed by industrials, which dropped 0.9%. Some of other sectors that closed lower include information technology, energy, consumer discretionary, telecom and consumer staples.
On the flip side, financial sector emerged as the biggest gain, rising 1.6%. Among others, utilities, A-REIT and health care also ended with marginal gainers.
In the banking pack, all big four lenders - Westpac Banking Corporation (ASX:WBC), Commonwealth Bank of Australia (ASX:CBA), Australia and New Zealand Banking Group (ASX:ANZ) and National Australia Bank (ASX:NAB) – ended higher.
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9th Aug 04:46 PM AEST
Australia's Province Resources, Global Energy rise on green hydrogen study pact
Australia's Province Resources, Global Energy rise on green hydrogen study pact. Vanadium explorer Province Resources (ASX:PRL) rose as much as 6.9% to AU$0.155, highest since 14 July 2021.
The Company stated PRL and power generator Total Eren entered a non-binding MoU with energy transition firm Global Energy Ventures Limited (ASX:GEV)
The agreement is about tech and commercial analysis on exporting green hydrogen from the HyEnergy Project in WA to APAC markets.
Paris, France-based Total Eren is partners with PRL in HyEnergy, a potential renewable green hydrogen project.
GEV will be conducting study at own cost; up as much as 15% to AU$0.077, its best intraday jump since 26 April 2021.
PRL is up more than 11-fold, while GEV is down ~17% this year as of the last close.
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9th Aug 04:06 PM AEST
Noxopharm (ASX:NOX) rises on research agreement with U.S. cancer institute
Drug developer Noxopharm Limited (ASX:NOX) rose as much as 5.2% to AU$0.610, their best intraday percentage jump since 13 July 2021.
The Company shared it has signed a material cooperative research and development agreement with the U.S. National Cancer Institute.
The agreement has been made to research on more effective treatments of brain cancer with regards to a new family of molecules designed by NOX.
NOX was trading 1.724% higher at AU$0.590 at 3:52 PM AEST.
NOX is up 18.4% this year, as of the last close.
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9th Aug 03:04 PM AEST
Aussie miners hit over two-week low as iron ore plummets
Australia's metals and mining index AXMM fell as much as 1.5% to its lowest since 23 July 2021.
Domestic iron ore miners tracked a more than 3% fall in Chinese iron ore futures.
Global miner Rio Tinto (ASX:RIO) fell as much as 1.5%, its biggest drop since July 23, while rival BHP Group Limited (ASX:BHP) shed 1.1%.
Miners De Grey Mining Limited (ASX:DEG) and Bellevue Gold Limited (ASX:BGL) led losses on the sub-index, skidding up to 9.8% and 8.3%, respectively.
AXMM is up 15.4% YTD, as of the last close.
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9th Aug 03:04 PM AEST
Brickworks (ASX:BKW) set for worst day in 16 months on output cut
Shares of Brickworks Limited (ASX:BKW) fell as much as 5.9% to AU$23.675, their biggest intraday percentage loss since 31 March 2020.
The building material manufacturer said it temporarily curtailed 30% of its total brick output across the New South Wales state.
It said that brick sales remain at only 50% of pre-lockdown levels, post the partial re-commencement of construction activity in August, resulting in full capacity at the Company’s storage yards.
The Company added the impact is similar across other building products businesses, forcing BKW to reduce staffing across several manufacturing facilities temporarily. “These were the most severe restrictions that our business has faced since the onset of the pandemic,” said Managing Director Lindsay Partridge.
BKW is at its lowest levels since 21 June.
BKW is amongst the biggest losers on the benchmark index AXJO.
The stock is up 31.1% this year, as of the last close.
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9th Aug 02:43 PM AEST
Westpac (ASX:WBC) hits near four-week high on life insurance business sale
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Shares of Westpac Banking Corporation (ASX:WBC) rose as much as 1.4% to AU$25.460, their highest since 13 July 2021.
Australia's second largest vendor said it is selling its domestic life insurance business to Dai-ichi Life Holdings for AU$900 million.
"This transaction is another step in simplifying the bank," said Jason Yetton, chief executive officer of Westpac's specialist businesses and group strategy.
WBC is on track for fourth consecutive session of gains.
The stock is up ~29.7% this year, as of the last close.
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9th Aug 02:24 PM AEST
Regis Healthcare (ASX:REG) drops on potential underpayment of employees
Shares of the aged care services provider Regis Healthcare Limited (ASX:REG) fell as much as 8.810% to trade at AU$1.915, their biggest intraday percentage fall since 20 January.
The Company stated that it has identified potential underpayments in the range of AU$30 million to AU$40 million due to both current and former employees and has started review to determine the extent of underpayments.
The stock has its lowest since 26 July.
The stock has risen 11.1% this year as of the last close.
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9th Aug 01:37 PM AEST
Charter Hall Long WALE REIT (ASX:CLW) hits near nine-month high as profit soars 400%
Shares of the Australian real estate investment trust (ASX:CLW) rose as much as 2.8% to AU$5.12, highest since 10 November 2020.
The Company reported 22% jump in fiscal 2021 revenue and a more than 400% surge in attributable profit.
The firm forecasted fiscal 2022 operating profit to rise 4.5%.
Up to Friday's close, the stock is up 7.4% this year.
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9th Aug 01:37 PM AEST
Suncorp (ASX:SUN) soars on strong results, proposed buyback
Shares of insurance provider Suncorp Group Limited (ASX:SUN) rose as much as 8.431% to AU$12.860 per share at 1:20 PM AEST on Monday.
The Company informed full-year net profit attributable rose to AU$1,003 million from the AU$913 million reported a year ago.
The Company announced a special dividend of AU$0.08 per share and final dividend of AU$0.40 per share, as well as AU$250 million worth of buyback of shares.
The stock has risen 21.8% this year as of the last close.
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9th Aug 01:08 PM AEST
Smart Parking (ASX:SPZ) acquires Enterprise Parking Solutions
Technology hardware and equipment firm Smart Parking Limited (ASX:SPZ) announced the acquisition of Enterprise Parking Solutions Limited on Monday. EPS takes care of 68 parking sites across the UK. It uses license plate recognition technology to provide enforcement services.
The acquisition is expected to speed up SPZ’s growth to the target of 1000 sites under management by June 2023. EPS increases 11% sites by adding 68 new sites. SPZ now owns 693 sites under its management.
The transaction price is AU$1.54 million and will be funded by existing cash reserves.
EPS fits the compelling strategy of SPZ, which is building scale in the UK parking management market and increase leverage to the ongoing post-pandemic recovery.
SPZ stock traded 4.545% higher at AU$0.230 per share at 1:00 PM AEST.
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9th Aug 12:42 PM AEST
Latitude Group (ASX:LFS) to acquire fintech Symple Loans for A$200 million
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Latitude Group Holdings Limited (ASX:LFS) announced on Monday that it is all set to acquire Symple Loans for AU$200 million. LFS will be paying in both shares and cash, the release stated.
The Company shared that Symple is a personal lending finetch using state-of-the-art global techniques, advanced analytics and risk-based pricing methods to offer simple digital experiences to customers as well as brokers.
Latitude informed that Symple will become the lending platform for all Latitude personal and auto loans, around 160,000 customers and a AU$2.5 billion loan portfolio.
Latitude will use Symple platform to launch its new products and create new partnerships. Also, the Company looks forward to expanding its auto loans business in New Zealand and personal loans business in Canada as Symple has established North American operations.
Symple is expected to contribute to the growth of Latitude’s loan portfolio and reduce costs. The anticipated in-year synergies will start in 2FY2022 would grow up to AU$32 million before tax in FY2023. This will equate to an in-year 9% NPAT as analysed by equity analyst forecast 2023.
The transaction will be funded by the issue or delivery of 38.46 million Latitude shares at AU$2.60 per share and AU$100 million in cash.
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9th Aug 12:16 PM AEST
Ionic Rare Earths’ (ASX:IXR) shares jump on standalone separation & refining asset proposal
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Shares of Ionic Rare Earths Limited (ASX:IXR), the mineral explorer, jumped 8.9% to trade at AU$0.030 per share at 12:00 PM AEST on Monday. The Company’s board has approved advancing to a formal evaluation of a standalone Separation and Refining facility. The facility is for the downstream processing of mixed rare earth carbonate (MREC) products. The MREC products will be from IXR’s Makuutu Rare Earths Project, in Uganda. The processing will produce refined critical and heavy rare earth oxides.
Meanwhile, IXR has initiated a downstream scoping study to confirm the economics associated with the facility. The Internal Desktop Study has indicated substantial upside gains from Makuutu critical and heavy rare earth basket.
IXR currently owns 51% of Makuutu; however, it will move to 60% ownership on completion of the Feasibility Study before October 2022. It also has a pre-emptive right over the remaining 40% stake.
Strong interest in the mine-to-market source will maximise returns for IXR. It is key to providing optionality for the future. The development provides direct exposure to maximising value with greater future demand forecast and diminishing existing supply.
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9th Aug 12:05 PM AEST
Financial stocks propel ASX to fresh high; Suncorp, IAG lead
Australian shares started the week on positive note, extending rally for the fourth straight session. The benchmark index, ASX 200, climbed to a new record high, driven by robust earnings numbers from Suncorp and Aurizon. However, fall in commodity prices and persistent concerns over rising COVID-19 cases restricted market’s gain.
The benchmark index, ASX 200, was currently trading 22.50 points or 0.30% higher at 7,560.90 by lunch.
The rising coronavirus cases in New South Wales and Queensland weighed on market sentiment. In the past 24 hours, NSW recorded 283 new locally acquired infections, while Victoria registered 11 cases.
On the sectoral front, six of the eleven sectors were trading in green zone. Financial sector topped the chart with 1.5% gain, followed by telecom, which rose 0.5%. A-REIT, consumer staples, energy and health care also traded marginally higher.
Meanwhile, material was the worst performer, falling over 0.5%, owing to drop in commodity price. Information technology sector also witnessed selling pressure, following negative closing at US counterpart, NASDAQ.
Among individual stocks, financial services company Suncorp Group (ASX: SUN) topped the gainer list on the ASX by rising 6.5%. Some of the other notable gainers were insurance major Insurance Australia Group (ASX: IAG), mining contractor NRW Holdings (ASX:NWH), internet service provider Uniti Group (ASX:UWL) and real estate firm Charter Hall Long Wale REIT (ASX:CLW).
On the flip side, media firm News Corporation (ASX:NWS) was the top losers, falling 6.7%. Some of the other worst performers were gold miners Gold Road Resources (ASX:GOR), Perseus Mining (ASX:PRU), Ramelius Resources (ASX:RMS), Regis Resources (ASX:RRL).
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9th Aug 12:05 PM AEST
Aurizon (ASX: AZJ) delivers flat annual net profits of AU$607 million for FY 2021
Transportation firm Aurizon Holdings Limited (ASX:AZJ) shared its annual results for FY2021 both safety performance and financial performance highlights on Monday. The financial performance of the Company is stated below:
- The Company has reported earnings before tax, tax, depreciation and amortisation (EBITDA) 1% higher than the prior comparable period worth AU$1,482 million.
- AZJ will be paying a final dividend of 14.4 cents per share, up by 5% on pcp.
- The Company has also reported an increase in the free cash flow by 1% to AU$734 million.
- The firm reported Group EBIT of AU$903 million for the year ended 30 June 2021, 1% lower than FY 2020.
- The firm informed its statutory NPAT from current operations was flat at AU$607 million as compared to AU$605 million in FY2020.
- The bulk business continues strong performance in the company, mainly driven by volume growth.
Aurizon has also reported its safety performance in its FY 2021 annual results. The company has shared the following:
- The company has improved Lost Time Frequency Rate by 8%
- Total Recordable injury deteriorated by 3%.
- Retail safety performance deteriorated by 8%.
AZJ stock traded 0.123% higher at AU$4.065 per share at 11:50 AM AEST.
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9th Aug 11:33 AM AEST
ResApp (ASX:RAP) to develop mobile app for respiratory disease diagnosis
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ResApp Health Limited (ASX:RAP) the digital healthcare solutions provider, is developing smartphone applications to diagnose and manage respiratory diseases. It has expanded its SARS-CoV2 (COVID-19) clinical program. RAP will now collect data at different points in time from COVID-19 positive subjects.
RAP has engaged Triomics, a clinical trial company from India, to recruit COVID-19 positive and negative patients in India. An expansion of RAP’s US-based COVID-19 Cough study will enroll COVID-19 positive patients in India. It will collect data on disease progression, and medical care received too.
The data collection will allow RAP to develop algorithms for remote monitoring of COVID-19 patients. It will help healthcare providers optimise the medical care of these patients. Triomics’ unique digital R&D platform uses AI to match sites, identify potential patients and seamlessly manage clinical studies. Triomics works with over 100 hospitals across India to facilitate the study. RAP seems like an ideal partner to support Triomics’ experience in conducting COVID-19 and device studies.
RAP shares traded at AU$0.047 at 11:30 AM AEST.
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9th Aug 11:32 AM AEST
GenusPlus (ASX:GNP) completes new acquisition at communications division
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GenusPlus Group Ltd (ASX:GNP), the essential power and communications infrastructure provider, has purchased Tandem Corp Pty Ltd with effect from 6 August 2021. The purchase is of selected key contracts, intellectual property, IT systems, plant and equipment, and employee contracts.
The acquisition completion follows the satisfaction of purchase conditions.
GNP has secured employment for 115 employees, which positions GNP for future communications infrastructure investment and growth. Acquired offices located in Melbourne and Sydney will expand GNP’s communications division nationally. GNP is also engaging with more than 1,000 sub-contractors to ensure seamless continuity of service delivery.
The purchase extends the capability of the GNP’s communications division and expands its ongoing relationship with Telstra. The purchase will essentially expand GNP’s ability to provide services to the industrial, commercial, and residential sectors.
GNP shares traded at AU$0.930 per share at 11:30 AM AEST.
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9th Aug 11:31 AM AEST
Allegra (ASX:AMT) to explore novel coating techniques for orthopaedic implants
Allegra Orthopaedics Limited (ASX:AMT), prosthetic implants and medical devices company, announced a new partnership with Swinburne's ARC Training Centre for Surface Engineering for Advanced Materials (SEAM) and RMIT University. The partnership aims to explore a novel coating manufacturing process to deposit its proprietary bioceramic material onto orthopaedic implants.
The industry-led research project has been awarded AU$118,338 by the Innovative Manufacturing Cooperative Research Centre (IMCRC) and Allegra Orthopaedics Ltd. It is to span over 12 months’ period.
The manufacturing outcome will be a robust coating process that manufactures a new product line of novel bioceramic coated orthopaedic implants. The unique coating shall outperform the current hydroxyapatite-coated implants.
The partnership allows AMT to catalyse the industry-university collaboration and establish a solid foundation for manufacturing functional bioceramic coatings. Proactive investing in R&D and exploring new surface coating technology will improve the coating quality and endurance of AMT’s medical implants. It will also significantly enhance the quality of life for those who require frequent, complicated, and expensive orthopaedic surgeries.
AMT shares traded at AU$0.220 per share at 11.20 AM AEST.
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9th Aug 11:30 AM AEST
Gold dips as higher than expected job data strengthened US dollar
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Gold prices fell to their lowest monthly level on Monday after strong US jobs data boosted the strength of the US dollar.
- December delivery gold futures traded 2.06% down at US$1,726.80 per ounce as of 9 August 2021 at 10:53 AM AEST.
- The U.S. nonfarm payrolls (NFP) report added 943,000 new jobs in the last month, exceeding expectations.
- The strong US job report also boosted expectations that the Federal Reserve could begin tapering its economic support.
- The benchmark 10-year Treasury yields and dollar jumped after the data, denting the bullion’s appeal.
- A strong US dollar makes gold more expensive for buyers in other currencies. Hence, the sentiment was shaken by a steep fall in gold prices on Monday. The break of US$1,750 triggered stop-loss sales, taking the prices as low as US$1,684 per ounce.
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9th Aug 11:29 AM AEST
Insurance Australia Group (ASX:IAG) witnesses major changes in board
Insurance Australia Group Limited (ASX:IAG) Chairman Elizabeth Bryan announced some major changes to the Company’s Board today.
As per the Company’s announcement, Bryan will retire on 22 October 2021 and will be succeeded as Chairman by Tom Pockett. Pockett has been one of the Directors in IAG since 2015. He is also the Chairman of the Audit Committee besides being the Chairman of Stockland Group and Autosports Group Limited.
Another Director, Duncan Boyle, will also be retiring from IAG’s Board on 22 October 2021.
Bryan mentioned that the Company will see three new Directors joining the Board, David Armstrong and George Sartorel, starting 1 September 2021, and Scott Pickering, starting to work from 1 November 2021.
ASX Stocks Telstra, IAG, CIM, 4DX in Action today
The Audit Committee will witness its new Chairman in Armstrong. He earlier worked as a partner with PwC specialising in financial services. Sartorel has worked earlier with Allianz Group and has worked last as Regional Chief Executive, Asia Pacific. He has returned home to Australia.
Pickering also has an international career as he worked as a global insurance executive.
IAG stock gained 4.108% and traded at AU$5.195 per share at 11:20 AM on the ASX.
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9th Aug 11:10 AM AEST
4DMedical (ASX:4DX) secures commercial contract with Novartis
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4DMedical Limited (ASX:4DX), a medical technology company, announced on Monday that it has signed a contract with multinational pharmaceutical company, Novartis, for the commercial use of its XV Lung Ventilation Analysis Software (XV LVAS™).
The contract represents the first commercial use of XV LVAS in the pharmaceutical industry and will be used to assess patient outcomes in a clinical program focused on novel therapies to treat Chronic Obstructive Pulmonary Disease (COPD) – the third highest cause of death in the world.
The clinical program will be conducted at the University of Miami in the U.S., under the Company's Functional Lung Imaging Research Program to advance breakthrough lung technologies.
The shares of the Company’s stock 4DX traded last at AU$1.490 per share.
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9th Aug 10:59 AM AEST
Oil falls on rising cases of coronavirus in the US, China, and Japan
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Crude oil prices tumbled on Monday to record one of the steepest losses in the month on rising concerns that the spread of coronavirus can reduce the energy demand.
- October delivery Brent Crude oil futures traded 1.32% down at US$69.37 per barrel, whereas September delivery WTI crude oil futures traded 1.96% down at US$66.94 per barrel as of 9 August 2021 at 10:26 AM AEST.
- Crude oil prices are weighted as the US dollar strengthened after higher-than-expected monthly US job growth, which makes oil more expensive for buyers in other currencies.
- The coronavirus cases in the US rose to six-month highs. At the same time, Japan is poised to expand emergency restrictions and China has also imposed lockdowns in some cities of the country and cancelled flights.
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9th Aug 10:59 AM AEST
Dicker Data (ASX:DDR) completes acquisition of Exeed Group
Dicker Data Limited (ASX:DDR), technology hardware, software, and cloud distributing firm, shared on Monday that the acquisition of the exceed Group is now completed.
The purchase price, as per the Company’s announcement stands at AU$68 million, cash free and debt free. Westpac has supported the acquisition funding via a cash advance facility.
Dicker Data informed that Exeed was founded in 2002 and is based out of Auckland. It is the second largest IT distributor in the New Zealand market. DDR also mentioned that Exeed’s takeover will make Dicker Data NZ a potential competitor in the NZ market.
Exeed expanded its operations in Australia in 2016 and the business symbolises combined revenues of approximately NZ$380 million. The full year normalised EBITDA earnings for FY21 is likely to be around NZ$15 million.
DDR shares traded 1.214% up at AU$14.170 per share at 10:50 AM AEST.
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9th Aug 10:30 AM AEST
Cimic’s (ASX:CIM) CPB contractors secure ECE from New Zealand government
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CIMIC Group Limited’s (ASX:CIM) construction business-CPB Contractors, has secured the Early Contractor Engagement (ECE) contract for Dunedin Hospital Inpatient Building, from the New Zealand Government’s Ministry of Health.
The ECE phase will take around 18 months, alongside designing and a follow-on delivery phase. The government would confirm further CPB Contractors’ involvement in the delivery of the Inpatient Building in 2023.
ASX Stocks Telstra, IAG, CIM, 4DX in Action today
The New Dunedin Hospital project is the single largest hospital project ever undertaken in New Zealand. The Inpatient Building provides high-quality medical facilities, services layout and supports its own role as a tertiary teaching hospital. It will include 421 beds and will be on a site in central Dunedin.
CIM’s construction arm-CPB has, in its past, provided several essential health facilities in New Zealand and Australia. CPB Contractors has experience in delivering significant new hospitals. It seeks to apply this expertise to make a positive contribution to the New Dunedin Hospital.
CIM shares traded last at AU$20.60 on the ASX.
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9th Aug 09:56 AM AEST
Telstra Health of Telstra (ASX:TLS) to acquire MedicalDirector
Telstra Corporation Limited (ASX:TLS) today announced that Telstra Health has entered into a binding agreement to acquire leading GP clinical and practice management software company MedicalDirector for an enterprise value of AU$350 million.
MedicalDirector is a contemporary clinical and practice management solution that helps General Practitioners and other industry experts to concentrate on giving high quality care and lowering time on paperwork and administration. This firm aids consultations by medical practitioners via a comprehensive patient medical record. This record features electronic prescriptions, options for virtual consultations, patient care plans, real time alerts about drug safety and drug interaction, and many other functionalities.
As per the Company’s release, MedicalDirector is into the healthcare business for more than 25 years now and currently is supporting around 23,000 medical practitioners and is used to deliver more than 80 million consultations a year.
ASX Stocks Telstra, IAG, CIM, 4DX in Action today
MedicalDirector is being acquired from funds advised by Affinity Equity Partners, with the transaction likely to complete in Q1 FY22.
The stock TLS traded last at AU$3.800 per share on the ASX.
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9th Aug 09:28 AM AEST
ASX 200 to rise after strong US jobs data
The Australian share market is expected to open on a positive note on Monday after further recovery in the US labour market. The ASX 200 may open 30 points or 0.4% higher on Monday after rising 0.35% to 7,538.4 points on Friday.
On Wall Street, the Dow Jones rose 0.4%, the S&P 500 climbed 0.2%, but the NASDAQ dipped 0.4% lower. The US stocks ended last week largely on a positive note after better-than-expected jobs data added optimism to economy, but monetary policy outlook also raised concerns.
According to the US Labor Department’s latest report, the released non-farm payroll employment surged by 943,000 jobs in July after rising by an upwardly revised 938,000 jobs in June.
On the other hand, Federal Reserve Chair Jerome Powell had last week hinted towards that further progress was needed in labour market recovery before Federal Reserve goes ahead scaling back economic stimulus.
In the bond market, treasuries moved sharply lower following the better-than-expected jobs data. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, jumped by 7.3 to 1.290 percent. The yield on Australian bonds closed at 1.18% for the 10-year note.