Live ASX News Today
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23rd Aug 06:00 PM AEST
NEXTDC (ASX:NXT) ends Monday session strong. Here’s why
Shares of NEXTDC Limited (ASX:NXT) closed 2.406% higher at AU$13.620 per share on Monday.
The data centre operating firm has received certified by Australia's Digital Transformation Agency as a certified strategic hosting provider of data centre services.
NEXTDC stated this highest level of certification will help it mitigate risks of data breaches.
The stock has posted its biggest intra-day percentage gain since 29 July 2021.
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23rd Aug 05:55 PM AEST
EVENT Hospitality and Entertainment (ASX:EVT) closes strong as annual loss narrows
Shares of EVENT Hospitality and Entertainment Ltd (ASX:EVT) closed at AU$13.250 per share, up 6.169% on Monday.
The Company posted a loss attributable of AU$48 million for the full year, compared with a loss of AU$57 million in the prior year.
EVT stated the group revenue in H2 is up 30.9% from the previous half-year period and added that for divisions that were open, all exceeded revenue on the comparable half-year period.
The Company said it is confident that once restrictions are eased, the pent-up demand and swift rebound experienced in the second half, will continue.
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23rd Aug 05:55 PM AEST
G8 Education (ASX:GEM) tumbles on tepid outlook
Shares of education centre operator G8 Education Limited (ASX:GEM) fell as much as 7.1% to AU$0.975, their biggest intraday drop since Feb. 23
The Company posted strong results but has warned of stricter lockdowns due to rising COVID-19 cases weighing on performance.
The Company also informed that recent lockdowns have impacted the seasonal (occupancy) trend in the second quarter. It also added that progressively stricter curbs will weigh on attendance in several states.
G8 has registered the H1 NPAT of AU$25.1 million versus the loss of AU$244.1 million a year ago.
The stock is down 11% so far this year, as of the last close.
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23rd Aug 04:50 PM AEST
ASX ends 0.3% higher; Pilbara Minerals, Appen, Nearmap lead gain
Australian shares closed higher on Monday, snapping five-session losing streak, led by buying across tech, realty and consumer discretionary space. The market sentiment was lift by firm cues from Wall Street which rose sharply on Friday amid waning fear of rollback of monetary stimulus by the US Federal Reserve. Meanwhile, coronavirus concerns showed no sign of abating as 818 new COVID-19 infections were recorded in New South Wales (NSW) on Monday.
The ASX200 closed 26.40 points or 0.35% higher at 7,487.30. Earlier today, the index opened higher and gained as much as 0.5% to hit an intraday high of 7,496.30.
Among the individual stocks, mining firm Pilbara Minerals (ASX:PLS) was the top gainer, rising 10.4%. Some of other top performers were tech firm Appen (ASX:APX), real estate firm Charter Hall (ASX: CHC), and aerial imagery firm Nearmap (ASX: NEA).
Meanwhile, health insurance company NIB Holdings (ASX: NHF) topped the loser chart with 11% loss.
The equity market witnessed surge in buying activity as eight of 11 sectoral indices ended higher. The information technology sector emerged as the top performer with 1.7% gain, tracking gains in US counterpart NASDAQ Composite. It was followed by A-REIT, consumer discretionary, material, financial, utility and health care stocks, which settled with modest gain.
Meanwhile, consumer staples sector emerged as worst performer, falling 0.5%. Energy and industrial sectors also ended with marginal losses.
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23rd Aug 04:29 PM AEST
Zeotech (ASX:ZEO) buys kaolin clay project in Queensland, shares tumble
Industrial kaolin clay processor Zeotech Limited (ASX:ZEO) fell as much as 16.1% to AU$0.09 per share, its biggest intraday percentage loss since 6 April 2021 on Monday.
The Company shared it will be buying Kalotech Pty Ltd for AU$2.59 million and will be getting mining license for Toondoon kaolin project in Queensland, as part of the deal.
ZEO shared it will offer 37 million fully paid ordinary shares at AU$0.07 per share for the deal.
More than nine million shares have been got traded so far.
The stock closed 14.147% down at AU$0.088 per share today.
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23rd Aug 04:12 PM AEST
ASX shares hit near one-year high after November 2020 outage review
Shares of stock exchange operator ASX Limited (ASX:ASX) gained as much as 3.084% to trade at AU$88.560 per share at 4 PM AEST on Monday.
ASX has posted biggest intraday percentage rise since 22 June 2021 and is all set for a seventh straight session of gains today.
The Company has acknowledged the findings of an independent review of the Australian stock exchange outage last November and has said it will address all the recommendations made.
The review found that the bourse operator's new trading system was not ready to go live, which caused nearly an entire trading session to be wiped on 16 November 2020.
Still, the review found that ASX met or exceeded leading industry practices in 58 out of 75 of capabilities assessed.
ASX has been on an upward trend since reporting annual results last week.
Meanwhile, the stock is up 19.3% this year so far, as of the last close.
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23rd Aug 04:02 PM AEST
Audinate (ASX:AD8) at record high after strong results, upbeat outlook
The share price of Audinate Group Limited (ASX:AD8) soared as much as 4.5% to scale record high of AU$10.97 today.
The audio networking technology firm posted a narrowed FY loss after tax attributable of AU$3.4 million after loss of AU$4.1 million last year.
The revenue from ordinary activities rose 10.1% to AU$33.4 million for the concerned period.
The Company stated that it is confident that Audinate can deliver USD revenue growth in the historical range for FY22.
At 3:30 PM AEST, the stock was trading 1.428% higher at AU$10.650 per share.
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23rd Aug 03:30 PM AEST
Nutritional Growth (ASX:NGS) launches patented shakes for preteen boys
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Global nutrition company Nutritional Growth Solutions Ltd. (ASX:NGS) has launched its ‘Healthy Heights® Grow Daily Boys 10+’ nutritional shake range. The patented range is claimed to support the nutritional needs of growing preteen boys.
With initial launching in the U.S., NGS has changed the original Healthy Height® product name to Grow Daily 3+. The new range is made from a patented blend of micro and macro nutrients. It dedicatedly supports the puberty needs of young boys. The launch of Grow Daily 10+ is NGS’s first product launched under a new overarching brand name, ‘Healthy Heights®’. NGS’s new brand has a refreshed look and feels designed to support its’ brands’ next stage evolution in new markets and products.
NGS claims that there are very few products addressing puberty needs, and its Healthy Height® is a pediatrician developed, clinically proven range for them. It is currently available in North America online. Additional markets shall add up soon.
Meanwhile, NGS shares traded 2.041% lower at AU$0.240 at 3:30 PM AEST.
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23rd Aug 03:29 PM AEST
Sonic Healthcare (ASX:SHL) reports 28% revenue growth in FY21
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The global healthcare company Sonic Healthcare Limited (ASX:SHL) has reported a strong FY21 performance.
Its revenue growth is 28% to AU$8.8 billion, with EBITDA growth of 81% to AU$2.6 billion. The statutory net profit is AU$1.3 billion, reflecting 149% growth.
SHL has also become Australia’s largest non-government COVID vaccination provider. As a result, a significant revenue and earnings contribution in FY2021 is from COVID-19 testing.
Though SHL’s COVID-19 PCR test volumes were lower in H2 versus H1, the increasing spread of the Delta variant is improving the metric again.
In addition, In FY2021, SHL’s global base business revenue was up 6% versus FY2020. It experienced a margin accretion in both laboratory and imaging divisions. The Balance sheet growth came from acquisition, with gearing at a record low level and AU$1.5 billion of liquidity.
SHL also has a progressive dividend policy, increasing the final Dividend by 4 cents for the FY2021. With FY2021 final Dividend of 55 cents per share, total dividends for the year are up 7% on the prior year.
SHL shares traded a tad bit lower on ASX at AU$41.740 at 3:20 PM AEST.
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23rd Aug 02:01 PM AEST
Why are Starpharma (ASX:SPL) shares trading strong today?
Starpharma Holdings Limited (ASX:SPL) share price went up by 6.557% on Monday to trade at AU$1.30 per share. The Company has published new data that demonstrated the protective efficacy of VIRALEZE antiviral nasal spray against the SARS-CoV-2 challenge in vivo in a humanised mouse model of coronavirus infection.
The study results have been published in the international peer-reviewed journal, Viruses in a special issue titled, Medical Interventions for Treatment and Prevention of SARS-CoV-2 Infections.
One of the few animal models endorsed by the World Health Organisation (WHO) was used by SPL in this study of VIRALEZE. It is to speed up the testing of vaccines and therapies or remedies for COVID-19. The transgenic mouse model has expressed the human angiotensin-converting enzyme (hACE2) receptor used by SARS-CoV-2 to infect cells in the human nasal cavity and respiratory tract.
At 1:50 PM AEST, the stock was found trading 4.5% up at AU$1.275 per share.
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23rd Aug 02:00 PM AEST
TerraCom (ASX:TER) Blair Athol Mine life extended to ten years
The ASX-listed resources firm TerraCom Limited (ASX:TER), announced on Monday that the life of the Blair Athol Mine (BA) has been extended to approximately ten years following an update to the BA Coal Reserve. The Company has also reported operating EBITDA for the month of July 2021 at Blair Athol was AU$13.6 million. Moreover, July 2021 results represent an operating cash margin of AU$58 per tonne.
The Company holds a considerable portfolio of operating assets in Australia and South Africa. The extension of the Blair Athol Mine (BA) lifeline will provide 14 years of operation under TerraCom.
The TER stock has traded at AU$0.165 per share at 1:50 PM AEST.
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23rd Aug 01:39 PM AEST
Why are Nanoveu (ASX:NVU) shares surging today?
Nanoveu Limited (ASX:NVU) share price increased by 26.086% and was found trading at AU$0.055 per share on Monday. The Company has announced an expansion in the production of its antiviral product applications with an order of AU$125,000 from its distributor for Thailand and Malaysia, Singapore Sanyo Trading Pte Ltd.
These antiviral product applications will be used for a newly developed antiviral, non-woven polypropylene material that will be used to manufacture antiviral face masks.
The non-woven fabric contains the same active antiviral compound as Nanoveu’s Nanoshield films, which have shown excellent efficacy against viruses and bacteria. Additionally, this material also reduces odour, allowing the continued use of face masks for approximately five days rather than disposal after a single-use.
NVU has expected to earn revenue up to AU$250,000 quarterly from this trial size order itself.
At 1:20 PM AEST, the stock was spotted trading 13.043% higher at AU$0.052 per share.
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23rd Aug 01:27 PM AEST
Austin (ASX:ANG) completes global debt refinance, shares gain on ASX
The ASX-listed global mining equipment design and manufacturer, Austin Engineering Limited (ASX:ANG), has announced the agreement of a new global financing arrangement provided by HSBC Bank Australia Limited. This agreement has helped ANG replace a working capital facility with Export Finance Australia and local Chilean debt facilities.
Key highlights:
- The new facilities have improved both the size and the growing debt capacity from AU$25 million to AU$35 million.
- Additionally, the cost of current facilities has reduced interest costs to a 1.10% line fee and a margin of 2.05% on drawn funds (an improvement of approximately 25%).
- Refinanced existing debt facilities in Australia and Chile with lower-cost funding.
The facility agreement has been executed by Austin and HSBC and is subjected to conditions precedent to drawdown and refinance of existing facilities. The refinancing is expected to be done before the end of August 2021.
The ANG stock was spotted trading 6.976% higher at AU$0.230 per share at 1:00 PM AEST.
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23rd Aug 01:11 PM AEST
SKS Technologies (ASX:SKS) to acquire IT Technology Business
SKS Technologies Group Limited (ASX:SKS) shared that it has struck an agreement with Integrated Solutions Group Queensland Pty Ltd for the full acquisition of its shares. The acquisition has allowed SKS Technologies to expand its presence in Queensland and scale operations throughout Australia.
Key highlights:
- SKS Technologies have acquired the specialist IT provider Integrated Solutions Group Queensland Pty Ltd for total consideration of AU$5 million.
- The consideration paid by SKS Technologies for the acquisition has represented a multiple of 0.86x revenue.
- Integrated Solutions has derived approximately 61% of its revenue from recurring income and drove higher profit margins.
- The expanded presence of SKS will be funded through the issuance of shares and a new long term debt facility.
The SKS stock traded 2.440% down at AU$0.200 per share at 12:50 PM AEST.
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23rd Aug 12:58 PM AEST
Lithium Power (ASX:LPI) completes A$12.4 million placement
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Lithium explorer, Lithium Power International Limited (ASX:LPI) has successfully placed new, fully paid ordinary shares for AU$12.4 million gross proceeds. These are placed with existing and new sophisticated and institutional investors.
Funds raised from the placement are for ongoing funding of Minera Salar Blanco (MSB) to develop the Maricunga Lithium Brine Project (Maricunga). LPI will also use it for renewed exploration programs at the Greenbushes Project and other possible targets in Western Australia.
LPI undertook a placement at an issue price of 26 cents per share, i.e., a 10.3% discount to LPI share price on Thursday, 19 August 2021, and a 12.9% discount to the five-day volume-weighted average price of LPI shares up to and including Thursday. Accordingly, placement will result in the issue of approximately 47.69 million new shares.
Canaccord Genuity (Australia) Limited was lead manager to the placement and Everblu Capital Pty Ltd Co-Manager. In addition, the placement got support from new and existing shareholders located domestically and offshore.
LPI shares traded 5.173% lower at AU$0.275 at 12:30 PM AEST.
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23rd Aug 12:45 PM AEST
Housing expansion to go sluggish from mid-2022: HIA
The Housing Industry Association (HIA) shared the national outlook in its winter edition 2021 on 22 August as per which the materials constraints have added to the volume of work under construction.
The report suggested that the rising level of demand for materials has resulted in demand exceeding the supply for vital building inputs like materials, labour workforce and even land. The delay in the supply of all of this will be triggering the impact on labour and ancillary services which will stay at peak during the second half of 2022. The report said that this is a positive sign for the wider Australian economy but can be challenging for the building businesses overall.
The HIA report stated that the demand for housing is getting generated from a shift in the location of the population and a move to lower density housing.
The average number of people per house has been dropping since the 1980s and this trend might have been speeded up buy COVID-19. This is just adding to the demand due to a population shift to regional areas and a move to lower density housing.
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23rd Aug 12:11 PM AEST
ASX snaps 5-day losing streak, gains 0.4% on tech boost
Snapping five session losing streak, Australian shares started the week on positive note on firm global cues and string corporate earnings. The market witnessed surge in buying across tech, material and health care space, while decline in energy, industrials, and telecom stocks restricted upmove. The concerns over consistent rise in COVID-19 cases also weighed on market sentiment.
The ASX 200 was currently trading 15.30 points or 0.21% higher at 7,476.20 by lunch. The index opened higher and gained as much as 0.4% to hit a high of 7,492.80.
Investors reacted to corporate earnings with some big players such asLatitude, Charter Hall, Ampol, McGrath, Chorus, Reliance Worldwide, Sonic Healthcare announcing earnings report this morning.
On the sectoral front, seven of the eleven sectorsweretrading ingreen zone. The information technology sector was the best performer with 1.8% gain, followed by material, which rose 0.8%. Among others, utilities, health care and A-REIT also witnessed surge in buying activities.
Bucking the trend, consumer staples sector was reeling under selling pressure, falling 0.4%. Among others, telecom, energy and industrial stocks were also flashing in red.
Metals and electronics recycling company Sims (ASX: SGM) topped the gainers’ list by rising 5.4% on share buyback program. Some of the other notable gainers were real estate firm Charter Hall (ASX: CHC), miner Pilbara Minerals (ASX:PLS), tech firm Appen (ASX:APX) and aerial imagery firm Nearmap (ASX: NEA).
On the flip side, health insurance company NIB Holdings (ASX: NHF) was the top loser on ASX, falling over 10%. Some of the other worst performers include retailer Super Retail Group (ASX: SUL), telecom firm TPG Telecom (ASX: TPM), petrol and transport fuel company Ampol (ASX: ALD) and freight rail transport company Aurizon Holdings (ASX: AZJ).
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23rd Aug 11:23 AM AEST
Oil rises after hitting nine-month lows on Friday
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Crude oil prices inched higher on Monday after recording their biggest weekly losses in more than nine months on Friday due to rise in COVID-19 cases.
- November delivery Brent Crude oil futures last traded at US$65.00 per barrel up 0.39%, whereas October delivery WTI crude oil futures traded 0.39% up at US$62.38 per barrel as of 23 August 2021 at 10:01 AM AEST.
- Numerous countries are adding travel restrictions to curb he spread after witnessing a surge in the Delta variant coronavirus cases.
- China has introduced a "zero tolerance" coronavirus policy due to the rise in the number of cases in the country. The policy is affecting shipping and global supply chains.
- Several companies in the US have delayed their plans for returning to the office due to a surge in the number of cases.
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23rd Aug 11:05 AM AEST
ASX 200 surges higher on the back of positive cues from Wall Street
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On Monday, Australian shares have opened higher in the final week of the current domestic earnings season, after falling all five days in the last week. The ASX 200 was trading 0.36% higher or 27 points up at 7,487.9 in the opening trade, tracking a strong Wall Street closing on Friday. However, the falling oil prices continue to put pressure on energy stocks.
The Dow Jones rose 0.65%, to 35,120.08, while the S&P 500 gained 0.81%, to 4,441.67. The NASDAQ Composite added 1.19%, to 14,714.66.
On the sectoral front, seven out of the 11 sectors are trading higher today with the Information Technology sector leading the pack with a 0.82% gain, followed by Metals and Mining space which gained 0.71%. The Energy sector is losing the most due to falling crude oil prices and is down 0.46% for the day so far.
Latitude Group Holdings Limited (ASX:LFS) has declared a fully franked final dividend of 7.85 cents per share in 2H FY21. The management expects spending will recover once the pandemic-induced restrictions are eased, based on last year's experience.
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23rd Aug 11:00 AM AEST
IGO Limited (ASX:IGO) successfully produces first Lithium hydroxide at Kwinana
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Lithium focused IGO Limited (ASX:IGO) has produced its first lithium hydroxide chemical product at the Kwinana Lithium Hydroxide Refinery (Kwinana). IGO holds 49% interest in Kwinana via lithium joint venture (Lithium JV) formed with Tianqi Lithium Corporation (Tianqi) on 30 June 2021.
Kwinana is Australia’s first lithium hydroxide facility.
Commissioning of the first production train, ‘Train1’ at Kwinana, has progressed in the last few months. With the first lithium hydroxide production, the focus is now on operating Train 1 on a continuous, rather than batch basis.
Monday's Buzzing ASX Stocks: Ampol, Nib, Noxopharm, IGO
IGO is also progressively improving product quality to battery grade for qualification. As a result, IGO will produce saleable product by December 2021 quarter and that battery grade product for accreditation by customers by March 2022 quarter.
Train 1 is to ramp up to the design production rate of 24ktpa lithium hydroxide by 2022.
IGO shares traded 2.951% higher at AU$9.070 per share at 10:50 AM on the ASX.
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23rd Aug 10:54 AM AEST
HITIQ (ASX:HIQ) technology deployed in US College Football, shares zoom up
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Transformative, concussion management technology company, HITIQ Limited (ASX:HIQ) shared on Monday that a division one college football data acquisition programme will be starting in September 2021. This programme will see HITIQ head impact technology deployed into six FBS division one college football programmes in the United States.
Programme Overview:
The HITIQ college football program will capture all head impacts experienced by 100+ participant players across training and games for the upcoming 2021 college football season.
The FBS is the highest level of college football in the US. The programme will run for approximately 6 months and aims to quantify and profile head impacts experienced in collegiate level American football players, and will provide HITIQ with a demonstrable data set from a key international customer market.
Participant programs include: Tulane University, University of Tulsa, Georgia Tech University, University of Tennessee, University of South Carolina, Brigham Young University and FBS Independent School.
The stock HIQ traded 6.250% higher at AU$0.170 per share at 10:40 AM AEST.
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23rd Aug 10:53 AM AEST
Noxopharm’s (ASX:NOX) NOXCOVID Program to expand after positive Phase 1 results
Australian clinical-stage drug development company Noxopharm Limited (ASX:NOX) released the interim top line data of its NOXCOVID phase 1 clinical trial.
Key takeaways from the Company release:
- Veyonda being positioned as an anti-inflammatory drug in COVID-19 patients with moderate disease intended to stop progression to severe disease.
- The ultimate aim is to suppress a self-harming inflammatory response to damaged lung tissue without compromising a protective immune response to the coronavirus.
- 37/38 patients getting hospitalised with moderate respiratory disease and elevated proinflammatory markers were able to complete their treatment course and were discharged.
- Only 1 out of 38 required mechanical ventilation and this patient was the only death in the full analysis group.
The Company shared that it will pursue the use of Veyonda in both in-hospital and outpatient management.
Monday's Buzzing ASX Stocks: Ampol, Nib, Noxopharm, IGO
Preliminary discussions are underway for participation in funded clinical trial platforms.
The Company highlighted that more than 90% of individuals infected with the SARS-CoV-2 virus recover from the infection with non-critical symptoms. Those patients who do go on to develop critical symptoms, in many cases do so because of an excessive inflammatory response to viral-induced damage in the lungs and other organs.
Meanwhile, the stock NOX traded last at AU$0.555 per share on the ASX.
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23rd Aug 10:40 AM AEST
Actinogen (ASX:ACW) completes global patent family grant
Actinogen Medical (ASX:ACW) has received patent grants from the Brazilian Patent and Trademark Office for Xanamem. The grant completes ACW’s intellectual property (IP) portfolio, with protection in all major pharmaceutical markets including the USA, UK, EU, Japan, China, Canada and Australia. The patents provide exclusive rights in these areas. They cover composition of matter of Xanamem and its uses in all diseases including Fragile X Syndrome, a genetic disorder.
Globally, the patent covers composition of matter protection till 2031 with a five-year extension possibility in markets like Australia, US, EU, Korea, Japan, China, and Israel. Last year ACW filed additional patents designed to extend Xanamem patent.
ACW is continuing its other strategies to strengthen its IP position. For near future, ACW seeks to build the Xanamem dataset with clinical trials, and optimising manufacturing processes for further commercialisation.
ACW shares traded 1.282% higher at AU$0.079 per share at 10:40 AM AEST on the ASX.
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23rd Aug 09:56 AM AEST
nib (ASX:NHF) delivers strong FY21 performance, group rev grows by 2.9%
nib Holdings Limited (ASX:NHF), on Monday, shared its operating performance for the 12 months to 30 June 2021 (FY21) as per which the group underlying revenue has risen by 2.9% to AU$2.6 billion.
Other key financial highlights:
- Operating profit gained 39.5% to AU$204.9 million.
- Net profit after tax of AU$160.5 million, up 84.5%.
- Group claims expense AU$2.0 billion – up 2.5%.
- Total Group expenses came down 8.8% to AU$362.1 million.
- Statutory EPS 35.2 cents – up 82.4%.
- Final dividend of 14 cents per share fully franked (up from 4 cents).
Monday's Buzzing ASX Stocks: Ampol, Nib, Noxopharm, IGO
- COVID-19 member and community support package totals more than AU$60 million following additional AU$15 million support.
- Transitioned to 100% renewable energy procurement for all nib-controlled locations.
The stock NHF traded last at AU$7.980 per share on the ASX.
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23rd Aug 09:56 AM AEST
Ampol (ASX:ALD) proposes to buy Z Energy
Energy giant Ampol Limited (ASX:ALD) shared on Monday that it has proposed to acquire 100% of the shares of Z Energy Limited (NZX:ZEL) for a cash offer price of NZ$3.78 per share.
Z Energy is a Wellington-headquartered fuel distribution and retailing company that owns and manages over 300 fuel stations in New Zealand under the Z and Caltex brands, supplying approximately 4 billion litres of fuel annually to customers.
Monday's Buzzing ASX Stocks: Ampol, Nib, Noxopharm, IGO
Also, Ampol announced its financial results for the six months ending 30 June 2021.
Key points
- Strong recovery in Group RCOP EBIT to AU$340 million from improved Lytton earnings. This includes the Temporary Refining Production Payment (TRPP) of AU$40 million and further growth in International and Convenience Retail EBIT.
- HCOP NPAT of AU$326 million supported by improved RCOP NPAT and inventory gains.
- Lytton refinery review concluded, with government package to support Australia’s fuel security and energy transition and help generate an appropriate return on capital from continued operations.
- Total fuel volumes sold up 11% to 11.05BL.
- Future Energy and Decarbonisation Strategy launched to underpin the development of new energy solutions for customers.
- Completed AU$300 million Off Market Buy-back, releasing AU$119 million in franking credits.
- Interim dividend of 52 cps (fully franked) declared, representing a 61% payout ratio of 1H 2021 RCOP NPAT.
The stock ALD traded last at AU$27.530 per share on the ASX.
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23rd Aug 09:34 AM AEST
ASX 200 to rise after strong Wall Street closing
After trading on a weak note last week, the ASX 200 is expected to rebound on Monday after US shares rallied in last session. The ASX 200 may open the day 35 points or 0.5% higher. The Australian benchmark index fell 0.050% to 7,460.90 previous week.
Ampol, Austal, Chorus, McGrath, NIB Holdings and oOh!media are among major firms to announce their earnings during the day.
Meanwhile, Wall Street ended last week on a strong note, with the Dow Jones rising 0.65%, the S&P 500 climbing 0.8%, and the NASDAQ storming 1.2% higher. The rise in coronavirus Delta cases appears to have dampened the near-term economic outlook, delaying Federal Reserve’s plans to start shifting monetary policy back to normal.
Investors would be closely tracking the Jackson Hole Symposium in Wyoming, scheduled between August 26 and 28 this year, for clues from Fed Chair Jerome Powell on expected pace of economic recovery and policy tightening timeline.
US Treasury yields ended the week lower over longer-than-expected concerns of Delta variant on the economic revival. The 30-year Treasury bond yields was down 0.31% to 1.870, while the 10-year bond yields rose 1.05% to 1.255.
US Dollar Futures Index decreased by 0.12% to US$93.472.