Live ASX News Today
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25th Aug 06:42 PM AEST
PEXA (ASX:PXA) delivers strong revenue and earnings growth in FY21
Australia’s leading digital property settlements platform PEXA Group Limited (ASX:PXA) shared its financial results for the year ended 30 June 2021 (FY21).
Result highlights versus FY20:
- Revenue is up 42% to AU$221.0 million.
- The Company reported 3.3 million PEXA Exchange transactions, up 37%.
- PEXA marked a transfer market penetration of 80%, up 14 percentage points.
- Pro forma PEXA Exchange EBITDA is up 114% to AU$110.4 million.
- Pro forma Group EBITDA up 124% to AU$101.8 million.
- The Statutory Net Loss After Tax stands at AU$11.8 million.
The Company’s stock PXA closed 0.176% higher at AU$17.010 per share today.
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25th Aug 06:14 PM AEST
Why did Worley (ASX:WOR) shares close down today?
Worley Limited (ASX:WOR), a professional services firm, today announced an underlying NPATA of AU$281 million for the 12 months ended 30 June 2021. The Company shared the Statutory NPATA was AU$161 million, compared to AU$252 million in the prior corresponding period.
The shares of the Company shed 2.556% to end today’s session at AU$11.060 per share.
The Company release stated that the aggregated revenue decreased 22% to AU$8,774 million.
Other key financials:
- The Company reported an Underlying EBITA of AU$468 million, compared to AU$743 million pcp.
- The Underlying operating cash flow stands at AU$621million, compared to AU$1,028 million pcp.
- Statutory result -revenue is reported to be AU$9,526 million as compared to AU$13,068 million.
- Sustainability represents AU$2.8 billion (32%) of aggregated revenue.
- Also, the Board has decided to pay a final dividend of 25 cents per share.
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25th Aug 05:01 PM AEST
Miner, tech stocks propel ASX to 3rd straight gain; WiseTech, Appen, HUB24 lead
Australian share ended higher for the third straight session on Wednesday, driven by surge in buying across tech and material stocks. The firm global cues as well as strong corporate earnings also lifted market sentiment. The sustained rally was also attributed to positive development on COVID-19 vaccine front, while easing worries over tapering of Federal Reserve stimulus also injected positivity in the market.
The ASX200 closed 28.90 points or 0.39% higher at 7,531.90, crossing above its 20-day moving average. During the day’s trade, the index opened higher and gained as much as 0.5% to hit an intraday high of 7,542.40.
Among the individual stocks, software firm WiseTech Global (ASX: WTC) emerged as top gainer by rising 26%. Some of the other notable gainers were tech firm Appen (ASX: APN), financial services firm HUB24 (ASX: HUB) and digital travel business Webjet (ASX: WEB).
On the flip side, Australia’s largest plumbing and bathroom supplier Reece (ASX: REH) topped the loser chart with 10.3% loss. Some of the other worst performing stocks were media firm Nine Entertainment (ASX: NEC) and industrial company Seven Group Holdings (ASX: SVW).
The market breadth, indicating the overall strength of the market, was weak as six of 11 sectors ended in red zone. The telecom sector emerged as the worst performer with 1.7% loss, followed by utilities, which dropped 1%. Among others, A-REIT, consumer staples, industrial and consumer discretionary also closed higher.
Meanwhile, information technology emerged as top performer with 1.7% gain, tracking overnight gains in US counterpart, NASDAQ Composite. Material, health care and energy space also witnessed surge in buying activity.
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25th Aug 04:44 PM AEST
Australia’s Paige Greco secures the first gold medal in 2020 Tokyo Paralympics
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Setting a world record, cyclist Paige Greco has won the first gold medal of 2020 Tokyo Paralympics on Wednesday.
Aged 24, Greco set a world record of 3:52:283 in her heat. This is more than seven seconds quicker than her previous mark. She even reduced that time further in the final.
Greco crossed the line edging out China’s Xiaomei Wang and secured the gold.
Paige Greco, suffered from cerebral palsy and made her Paralympics debut in Tokyo. She started off as a track and field athlete before, in 2018, she switched to cycling.
Meanwhile, after Greco’s gold, another one followed, claimed by Australian Emily Petricola who won in the C4 pursuit.
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25th Aug 03:50 PM AEST
Spirit Technology (ASX:ST1) delivers record growth and profitability
Spirit Technology Solutions (ASX:ST1), on 25 August 2021, lodged its Full Year Financial Results for the financial year ended 30 June 2021 (FY21), delivering record growth and profitability.
Key takeaways:
- The Company reported an Underlying Net Profit Before Tax (NPBT) of AU$4.5 million, up 1010% Year-on-year.
- The Statutory Net Profit Before Tax (NPBT) stood at AU$1.34 million, up 166% YoY.
- Underlying EBITDA was at AU$11.5 million, up 209%.
- The YoY revenue is up 200% at AU$104.5 million.
The Company’s release stated that it is driven by robust performances across new business sales in the mid-corporate markets and the SMB market.
Over the last year, the Company has been rebuilt and repositioned from being a small Internet Service Provider to a full-service technology company with a national brand – Do IT with Spirit.
The stock ST1 was spotted trading 1.785% higher at AU$0.285 per share at 3:40 PM AEST.
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25th Aug 02:21 PM AEST
Businesses in Australia rise 3.8% in 2020-21: ABS
The Australian Bureau of Statistics revealed that as on 30 June 2021, there were 2,402,254 trading businesses actively on in the Australian economy, a rise of 3.8% or 87,806 in 2020-2021.
The ABS report stated that during the period, there were 365,480 entries with a rate of 15.8% while, the exit rate stood at 12% with 277,674 exits.
According to the ABS data, during the concerned period, the three industries with the largest net rise in the number of businesses featured Construction; Professional, Scientific and Technical services and Healthcare and Social Assistance.
Also, the report had statistics regarding the industry with the biggest percentage decline in businesses. This category included Transport, Postal and Warehousing, a fall of 2.8%.
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25th Aug 01:06 PM AEST
Australian Government gives a go-ahead to the launch of the Country’s first commercial rocket
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Australia is all set to launch its first commercial rocket launch in South Australia this year. This became clear after the Morrison Government granted the required regulatory approval for the launch on Monday.
A joint media release dated 23 August 2021 said that the TiSPACE, which is Taiwan’s first private space firm will conduct a test flight of its Hapith I- which is a 10m and two-stage sub-orbital rocket. The suborbital rocket will take off from the Whalers Way Orbital Launch Complex, operated by Southern Launch.
Minister for Industry, Science and Technology Christian Porter has called the approval of the launch permit an exciting moment that accelerates the growing momentum in Australia’s space sector and will help position Australia as a future launch destination. The date for the launch has not been finalised yet and will be decided by the Taiwanese company and Southern Launch in the coming months.
It is believed that the Whalers Way launch site will encourage a test launch campaign for up to three suborbital rockets. Besides, the information which will be obtained during the said launches to calculate environmental impacts will help in identifying the site’s feasibility as a possible launch site for other suborbital and orbital launches in future.
As per the government data, since 2018, the current Government has spent over AU$700 million in the civil space sector to grow the sector to AU$12 billion with an aim to add another 20,000 jobs by 2030.
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25th Aug 01:05 PM AEST
Protection against COVID-19 begins to weaken after a double jab: Researchers
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Vaccines are meant to save lives. But what would happen if getting vaccinated makes one more vulnerable to the disease? Researchers have confirmed that protection provided by Pfizer or BioNTech and the Oxford or AstraZeneca against COVID-19 infection has begun to weaken immunity in fully vaccinated people.
Studies have portrayed that more than a million people who tested positive for the Covid PCR test got jabbed double doses of the Pfizer or AstraZeneca vaccine between May and June 2021.
The Pfizer vaccine was supposed to provide 88% immunity against covid infection after two doses. But in reality, the immunity level provided by Pfizer drops down 74% from 88% after five or six months. On the other hand, the efficacy level of AstraZeneca drops down to 67% from 77% after five/six months. Moreover, scientists have predicted that the worst-case scenario could result in a 50% immunity drop in older adults and healthcare workers by winter.
Experts said that a real-world analysis had proved the lesser efficacy of the vaccine as compared to the clinical trials. Moreover, the vaccines were not tested against the currently dominating Delta variant of the virus.
Studies have also shown that despite some breakthrough infections taking place, the vaccines are still doing a pretty good job in preventing covid infection. In addition, it has helped to provide relief and cure to people suffering from critical covid conditions.
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25th Aug 12:50 PM AEST
Solar energy surpasses energy generated by coal for the first time in Australia
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The world is increasingly depending on renewable energy sources in recent times. Solar energy is the most ubiquitous among them. This became evident after solar energy outstripped the energy generated from coal for the first time in Australia after the market was set up twenty years ago. This is seen as a new milestone in Australia, which hugely depends on fossil fuels to meet its energy requirements.
On Sunday, Solar output surpassed coal, thanks to the sunny weather, which yields sufficient solar energy. To one’s surprise, renewable energy provided 57% of the country’s electricity generation for a brief period on Sunday.
On 22 August 2021, given the low demand and sunny skies, the contribution from coal declined to a record low of 9,315MW, while solar provided the dominant share of the power generation with 9,427MW.
Datalogger NEMlog has revealed that wind and solar energy meet 100% of the energy requirements in South Australia.
It is to be noted that Australia is a party to the Paris agreement, which came into force in 2016. To reach its obligations under the Paris Agreement, Australia is bound to build out an extra 51 gigawatts (GW) of renewable energy capability by 2042, as per the modelling by Rennie Partners. However, the country is currently far behind its target and has only 3 GW of wind and solar projects in the pipeline.
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25th Aug 12:14 PM AEST
ASX gains 0.5% on tech, miner boost; WiseTech surges, Afterpay and Zip fall
Australian shares continued to trade higher by afternoon, extending opening gains on the back of firm cues from US markets as well as spurt in commodity prices. Investors also reacted to the corporate earnings announcements with some big players such as WiseTech, Afterpay, Zip Co, Orocobre, Sealink, Aurelia Metals announcing their results this morning.
The ASX 200 was currently trading 20.80 points or 0.28% higher at 7,523.80 by lunch. extending gain for the third session, the index opened higher today and gained as much as 0.5% to hit a high of 7,542.40.
On the sectoral front, seven of the eleven sectors were trading in green zone. The information technology was the best performer, rising nearly 2% on positive cues from US counterpart, NASDAQ. The rally in tech stock was led by logistic software business WiseTech Global, which surged over 39% on strong earnings outlook for 2022 financial year.
The tech sector was followed by material sector, which extended rally for the second day on rise in iron ore prices. Iron ore prices surged 6.8% to US$146.13 a tonne in overnight trade as improving optimism over economic recovery and prospects for additional stimulus in China boosted the outlook for demand.
Among others, health care, energy and financial indices also witnessed surge in buying activity.
Meanwhile, telecom sector emerged as the worst performer with 1.7% loss, followed by utilities, which dropped over 1%. Among others, consumer staples sector continued to reel under selling pressure for the third straight day
On the COVID-19 front, New South Wales reported record 919 new locally acquired cases in the past 24 hours, the highest daily number ever recorded in Australia. Meanwhile, Victoria’s daily case tally dropped for the second day to 45, while Queensland reported no new case on Wednesday.
Among individual stocks, technology firm WiseTech Global (ASX: WTC) topped the gainers chart by surging 39% on robust earnings and strong outlook for next fiscal.
Some of the other notable gainers were financial services firm HUB24 (ASX: HUB), engineering services major Monadelphous (ASX:MND), miner Lynas Rare Earths (ASX:LYC) and digital travel business Webjet (ASX: WEB).
On the flip side, Australia’s largest plumbing and bathroom supplier Reece (ASX: REH) was the top loser on ASX, falling nearly 10%. Among others, media firm Nine Entertainment (ASX: NEC), resource firm Iluka (ASX: ILU), industrial company Seven Group Holdings (ASX: SVW) and energy firm AGL Energy (ASX:AGL) were among worst performers.
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25th Aug 11:43 AM AEST
Sunland Group (ASX:SDG) declares FY21 results, shares drop
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Property development and construction company Sunland Group Limited (ASX:SDG) shared its FY21 results on ASX. SDG had a full-year profit after tax of AU$24.9 million compared to AU$2.4 million in 2020. SDG’s earnings per share are 18.7 cents. It has decided to pay out of earnings, fully franked final and special dividends, totalling 20 cents per share, to be paid on 30 September 2021.
SDG has also completed the sale of various assets following group strategy. Sale has added a total of AU$40.1 million in revenue and AU$13.6 million profit after tax. SDG has a strong cash flow from property settlements in 2021, totalling AU$274.4 million compared to AU$159.8 million in 2020. Cash generated by the Group has reduced debt for working capital and enabled dividend payment.
SDG has achieved a 24% development margin, exceeding the target 20% return on costs. SDG aims to manage development risks associated with active projects and the new projects to be undertaken. It expects to deliver such projects over the next 18 to 24 months.
However, SDG shares traded 4% down at AU$2.640 per share at 11:40 AM AEST.
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25th Aug 11:42 AM AEST
Alumina prices hit six-month high level on supply concerns amid a fire incident in Jamalco plant
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The prices of alumina hit almost six-month high levels on Tuesday followed by a blaze at Jamaica's Jamalco refinery that has created a supply concern. Alumina is used as a raw material to produce aluminium.
- Alumina futures on COMEX rose to US$302.14 per tonne to reach the highest level since 25 February on the back of strong demand and bad weather conditions in China due to floods.
- A major fire broke out in the powerhouse of the Jamalco refinery on Sunday which is used to produce power for the refining of alumina.
- However, the fire has been extinguished and no serious injuries were reported, as stated by the company on Monday.
- The Jamalco plant has a capacity of 1.4Mtpa of alumina production which is refined from bauxite.
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25th Aug 11:42 AM AEST
Crude oil boosts on the back of supply concerns amid Mexican rig incident
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Crude oil prices inched higher on Tuesday on supply concerns after a fire incident on an oil platform in Mexico.
- The prices were also supported by full US regulatory approval of COVID-19 vaccines.
- November delivery Brent Crude oil futures last traded at US$70.27 per barrel down 0.27%, whereas October delivery WTI crude oil futures traded 0.19% down at US$67.42 per barrel as of 25 August 2021 at 10:44 AM AEST.
- The crude oil prices are nearly 8% up this week, offsetting the losses of 7.6% incurred in the last week.
- China’s apparent success in fighting the Delta variant of coronavirus has also boosted sentiments and supported oil prices.
- Meanwhile, the crude output of Indian refiners bounced to the highest level in July in the last three months, supporting oil prices.
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25th Aug 11:42 AM AEST
Clearvue (ASX:CPV) gets order from Japanese distributor Tomita, shares surge on ASX
Smart building materials firm Clearvue Technologies Limited (ASX:CPV), shared it has got an order for the Company’s patented photovoltaic (PV) glazing from recently appointed Japanese distributor, Tomita Technologies Ltd.
The order is for use in a greenhouse at a high-profile hot springs health and wellness tourism eco project.
Tomita is authorised to distribute, market and sell ClearVue’s products in Japan for use in greenhouses and protected cropping agriculture. This is the first order since the license was granted in April.
As per the order terms, ClearVue will be supplying 187 glazing panels to be used to cover an area of around 333 metre square with fabrication to be completed in approximately 12 weeks.
ClearVue’s glazing will be deployed into the roof of a strawberry greenhouse which forms part of the ‘Aqua Ignis Hot Springs’ project in the Fujitsuka area of Wakabayashi-ku, Sendai City.
The stock CPV traded 13.559% higher at AU$0.335 per share at 11:10 AM AEST on the ASX.
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25th Aug 11:41 AM AEST
Netccentric (ASX:NCL) delivers 60% y-o-y revenue growth in H121
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Netccentric Ltd (ASX:NCL), the social media marketing solutions provider, shared its H1-21 results.
NCL shows strong revenue growth in the half-year (H121) ended 30 June 2021. Revenue is up 60% year-on-year (y-o-y) to AU$5.16 million, driven by growth across business units. As a result, the H121 EBITDA (Earnings before Interest and Taxes) has more than doubled y-o-y to AU$0.19 million. It is excluding extraordinary expenses from the issue of options, M&A activities and forex movements.
NCL's 100% owned subsidiary, Nuffnang Malaysia, delivered a strong contribution to the H121 results of AU$2.48 million with Q2-21 revenue of AU$1.32 million. It represents year-on-year growth in the contribution of 65% and quarter-on-quarter growth of 14%. Nuffnang Malaysia pipeline continues to grow, with orders up 88% in H1-21. It is complementary and empowers the NCL's expansion into social commerce.
NCL retains a strong position to drive growth organically, and via M&A. It has a debt-free balance sheet, with AU$5.36 million in cash and a proven strategy of end-to-end growth solutions.
NCL shares traded at AU$0.155, 3.33% up at 11:30 AM AEST.
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25th Aug 10:55 AM AEST
ClearView (ASX:CVW) to sell financial advice business
Wealth management and Insurance company, ClearView Wealth Limited (ASX:CVW) has entered into an agreement for the sale of its Financial Advice businesses. The sale will be done to Centrepoint Alliance Limited (ASX:CAF) for AU$15.2 million.
Against sale, CVW will get 48 million fully paid CAF ordinary shares and a cash consideration of AU$3.2 million. The issue of shares will result in CVW getting a 25% strategic equity stake in CAF. The deal allows CVW to separate its product manufacturer and financial advice arms.
The CVW Financial Advice business is to declare around AU$7 million pre-completion dividends to CVW.
CVW’s net surplus capital position is expected to increase from net proceeds. Its shareholding in CAF is to be earnings accretive. Any costs incurred in relation to the transaction will be reported as a cost considered unusual and will not form part of Underlying NPAT (Net profit after tax) in FY22.
CVW can appoint one director to CAF Board upon completion. The deal is to be complete on 31 October 2021, subject to shareholder and regulatory approval.
CVW shares traded on ASX at AU$0.50 as of 25 August 2021, 10:03 AM AEST.
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25th Aug 10:55 AM AEST
ASX 200 trades higher; Sealink, Aurelia Metals jumped on profit figures
Australian benchmark opened mildly higher on Wednesday, tracking a continued rally on Wall Street overnight. In the opening trade, the ASX 200 was trading 4.8 points up at 7,507.8. The materials sector stocks have opened the first trade in green on soaring commodities prices.
Wall Street ended higher on Tuesday as the FDA has granted full approval to a COVID-19 vaccine on Monday. The Dow Jones rose 0.09%, to 35,366.26, while the S&P 500 gained 0.15%, to 4,486.23. The NASDAQ Composite added 0.52% and closed the session at 15,019.80.
Stocks that are supporting the benchmark index in the opening session are Flight Centre Travel Group Limited (ASX:FLT) and Ampol Limited (ASX:ALD), both gaining 2.5% and 1.72%, respectively. On the flip side stock putting pressure are Adbri Limited (ASX:ABC) and AGL Energy Limited (ASX:AGL) both losing 6.58% and 5.29%, respectively.
BNPL giant, Afterpay Limited’s (ASX:APT) losses for FY21 widened to AU$159.4 million, compared to AU$22.9 million loss in FY20. However, for the reported year, the total number of customers climbed 63% to 16.2 million and total number of active merchants were up 77% to 98,200.
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25th Aug 10:42 AM AEST
Dimerix (ASX:DXB) starts Phase 3 study in FSGS Kidney patients
Dimerix Limited (ASX:DXB), a clinical-stage biopharmaceutical company, shared that it has now started ACTION3, the Phase 3 clinical study in patients with focal segmental glomerulosclerosis (FSGS). The Company release stated that the first ethics submission having already been filed in Australia.
ASX Stocks in news today : Macquarie, Dimerix, SeaLink, Afterpay
DXB shared that up to 167 sites in up to 18 countries across North America, South America, Europe, United Kingdom, and Asia Pacific regions are likely to take a part in this study. Australia and New Zealand are being identified as the first countries planned to initiate this patient recruitment across 5 sites collectively and other countries following shortly after.
What is the study?
The Phase 3 study is titled ‘Angiotensin II Type 1 Receptor (AT1R) & Chemokine Receptor 2 (CCR2) Targets for Inflammatory Nephrosis’ – or ACTION3 for short. This is a final, multi-centre, randomised, double-blind, placebo-controlled study of the efficacy and safety of DMX-200 in patients with FSGS who are receiving a stable dose of an angiotensin II receptor blocker (ARB). Once the ARB dose is stable, patients, aged 18 to 75 years, will be randomised to receive either DMX-200 (120 mg capsule twice daily) or placebo.
Meanwhile, the stock DXB traded last at AU$0.300 per share on the ASX.
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25th Aug 10:42 AM AEST
Afterpay (ASX:APT) FY21 sales surges 90%, customers rise 63%
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BNPL giant Afterpay Limited (ASX:APT) shared its Full Year Results to 30 June 2021 on 25 August 2021.
ASX Stocks in news today : Macquarie, Dimerix, SeaLink, Afterpay
The Company shared that it has continued to grow globally during FY21 and strong operating performance was recorded across all regions.
Key highlights:
- FY21 Underlying Sales of AU$21.1 billion, a 90% rise on the prior corresponding period (pcp).
- On a constant currency basis, the Group delivered a 102% increase in FY21 Underlying Sales on pcp to AU$22.4 billion.
- Active customers during FY21 grew to 16.2 million, an increase of 63% against 9.9 million at 30 June 2020. Approximately 25k new customers joined the platform globally per day during FY21.
- As of today, the Afterpay global integrated active merchant network now exceeds 100k, following an increase of 77% in FY21 (98.2K as at 30 June 2021).
- Afterpay launched into four key regions during FY21 - Canada, Spain, France, and Italy.
- Group Total Income of AU$924.7 million, 78% higher than FY20.
- Afterpay Income increased by 90% on the prior year to $822.3 million.
- EBITDA stood at AU$38.7 million, down 13% from pcp.
- Employment Expenses were AU$150.9 million, up 75% on FY20.
The stock APT opened a tad bit down at AU$134.300 per share today.
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25th Aug 10:41 AM AEST
Renascor (ASX:RNU) signs strategic cooperation and offtake deal with POSCO
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Mineral discoverer Renascor Resources (ASX:RNU) has entered into non-binding strategic cooperation and offtake Memorandum of Understanding (MOU) with South Korean conglomerate POSCO.
The MOU is for the purchase of 20,000 to 30,000 tpa of Purified Spherical Graphite (PSG). The material will come from RNU’s planned Battery Anode Material operation in South Australia. MOU also provides for a potential equity investment by POSCO in RNU.
POSCO is the largest anode manufacturer outside of China. It is one of the world’s largest suppliers of steel and lithium-ion battery material. In addition, it is the largest single private customer of Australian exports. Recently, POSCO has been actively pursuing battery minerals exposure in Australia. It wants to establish a value chain for battery materials by 2030.
RNU currently proposed Stage 1 PSG production capacity is approximately 30,000tpa. In addition, RNU continues to receive a significant volume of inbound enquiry from globally recognised international groups in the battery supply chain. As a result, RNU is currently undertaking feasibility work to facilitate an increase in Stage 1 PSG production capacity and a Stage 2 expansion to fulfil the increased offtake volume requirements.
RNU shares traded on ASX at AU$0.10 as of 25 August 2021.
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25th Aug 10:04 AM AEST
Macquarie Telecom (ASX:MAQ) registers 7 continuous years of EBITDA growth
Macquarie Telecom Group Limited (ASX:MAQ) shared its results for the full year ended 30 June 2021 on Wednesday. The results are said to be in line with the guidance.
Key Highlights:
- The Company posted seven straight years of EBITDA growth.
- MAQ registered full year revenue of AU$285.1 million, an increase of 7% compared to AU$266.2 million in FY20.
- EBITDA stood at AU$73.8 million, up 13% from prior year.
- Total operating cash flows stood at AU$45.3 million.
- The Company reported it has completed work on the Intellicentre 3 East data centre development (IC3), drawing down AU$84.0 million of the debt facility this financial year.
ASX Stocks in news today : Macquarie, Dimerix, SeaLink, Afterpay
The Telecom giant also stated that as on 30 June 2021, the closing cash balance stood at AU$19.8 million and undrawn debt facilities of AU$58.0 million.
The Company also marked net profit after tax of AU$12.5 million, a fall of 7.4% on FY20’s AU$13.5 million.
Meanwhile, the stock MAQ was spotted trading last at AU$76.010 per share on the ASX.