Live ASX News Today
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3rd Sep 07:57 PM AEST
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3rd Sep 07:43 PM AEST
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3rd Sep 07:09 PM AEST
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3rd Sep 06:05 PM AEST
ASX ends 0.5% higher on miners, energy boost; BHP, Rio, Fortescue gain
The Australian share market ended higher on Friday, snapping two session losing streak, led by gains in blue-chip mining and biotech firms. The rise in commodity price as well as S&P's global economic outlook upgrade also boosted market sentiment. Credit ratings agency S&P Global has upgraded global economic growth outlook to 5.9% amid COVID-19 vaccine optimism.
The ASX200 closed 37.20 points or 0.5% higher at 7,522.90. During the day’s trade, the index gained as much as 0.7% to hit an intraday high of 7,539 points. Overall, the ASX 200 settled the week with 0.46% gain.
The market breadth, indicating the overall strength of the market, was strong as eight of 11 sectors ended in green zone. The material sector emerged as the best performer with a 1.3% gain, followed by utilities, which rose 0.9%. Energy, health care, consumer discretionary and financial sectors also witnessed surge in buying activities.
Meanwhile, information technology sector emerged as top laggard with 0.75% loss. The loss in tech space was led by Afterpay, Xero and Nuix.
The top gainer on the benchmark index was mining company Orocobre (ASX: ORE), which rose 7.1%. Some of the other top performers were Australia’s biggest independent coal miner Whitehaven Coal (ASX: WHC), miner Alumina (ASX: AWC), health care firm Clinuvel Pharmaceuticals (ASX:CUV), and biopharma major Mesoblast (ASX: MSB).
On the losing side, mining firm Ramelius Resources (ASX: RMS) topped the losers’ chart by falling 3.3%. Some of the other notable losers were buy now, pay later major Afterpay (ASX: APT), steel manufacturer BlueScope Steel (ASX: BSL) and plumbing and bathroom supplier Reece (ASX: REH).
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3rd Sep 04:53 PM AEST
AVITA Medicals (ASX:AVH) to participate in the upcoming BIG5 Conference
The ASX-listed healthcare company AVITA Medical, Inc. (ASX:AVH) has announced on Friday that it will be participating at the Lake Street 2021 BIG5 Conference to be held on Tuesday, 14 September 2021.
AVITA Medical is a technology platform specialising in giving medical attention to burns, chronic wounds, and aesthetics indications.
AVITA Medical aims to provide innovative treatment solutions powered by the Company’s patented and proprietary collection and application technology obtained from the regenerative properties of a patient’s skin.
AVITA’s medical devices prepare a Res Regenerative Epidermal Suspension, better described as an autologous suspension comprised of the patient’s skin cells necessary to regenerate the natural healthy epidermis. This autologous suspension is then applied to the areas that need treatment.
The AVH stock closed 1.7% higher at AU$5.690 per share on the ASX.
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3rd Sep 04:45 PM AEST
Oar Resources (ASX:OAR) drilling reports exceed expectations
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Oar Resources Limited (ASX:OAR) has announced that the Company has obtained exceptionally high-grade Halloysite results from detailed XRD analysis of selected samples from drilling at the Company’s Gibraltar Halloysite-Kaolin Project the Eyre Peninsula, in South Australia.
Key highlights:
- The result has stated the highest-grade composite sample of 53% halloysite and multiple composite samples grading over 30% halloysite.
- OAR has found three additional “Bullseye” anomalies with coincident high-grade halloysite and high brightness kaolin, which have demonstrated high potential to define a large inventory of high-grade kaolin-halloysite at Gibraltar.
- OAR would take up systematic drill testing of the high-priority southwest target area and three bullseye target under the Company’s existing drilling permits.
- Subsequent drilling of OAR has already been confirmed and is expected to begin in early Q4.
The OAR stock closed at AU$0.014 per share on the ASX.
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3rd Sep 04:11 PM AEST
Neuren’s (ASX:NEU) drug gets Orphan Drug designation by the FDA
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ASX-listed company from the healthcare sector, Neuren Pharmaceuticals Limited (ASX:NEU), has announced that the US Food and Drug Administration (FDA) has granted Orphan Drug designation to Neuren’s NNZ-2591 for the treatment of Prader-Willi syndrome.
Prader-Willi syndrome (PWS) is a highly debilitating neurodevelopmental disorder caused by defects in the 15q11-q13 region of chromosome 15. Results have portrayed that every 1 in 10,000 – 30,000 males and females across all races get affected by PWS.
Apart from other incentives, Orphan Drug designation has also qualified the sponsor of the drug for seven years of marketing exclusivity, plus six months if approved for pediatric use, and the waiver of the prescription drug user fee for a marketing application.
The NEU stock closed 4.888% higher at AU$2.360 per share on the ASX today.
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3rd Sep 04:10 PM AEST
Why Propell (ASX:PHL) shares have soared 15% today?
The ASX-listed diversified financial company Propell Holdings Limited (ASX:PHL) has announced robust reports in the FY21 results across all key financials. The Company has continued to deliver record-breaking numbers in the report despite challenging trading situations in the markets of NSW and Victoria.
Key highlights:
- Propell has continued to deliver strong platform customer growth in August, up by 26.6% vs July.
- Propel has achieved record-level new lending while adopting a conservative approach to lending in critical markets of NSW and Victoria.
- PHL has also presented the Share Café ‘Hidden Gems’ webinar recently.
Moreover, Propell has built a leading digital, cloud-based platform that offers customised finance products to help small to medium businesses manage and optimise their cash flow.
The PHL stock was spotted trading 15% higher at AU$0.115 per share at 3:30 PM AEST.
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3rd Sep 03:28 PM AEST
Leigh Creek's (ASX:LCK) subsidiary gets Cooper Basin Petroleum Licence
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The ASX-listed company from the energy sector, Leigh Creek Energy Limited (ASX:LCK), announced that the Company's 100% subsidiary, Leigh Creek Oil and Gas Pty Ltd, was awarded Petroleum Exploration Licence 676 in key South Australian Cooper Basin oil and gas acreage.
Key highlights:
- LCK's native title agreement was completed, and the work program got approved.
- LCK's next steps would be to include a farm down followed by drilling of exploration wells.
- LCK would further continue to develop the strategy of its portfolio diversification.
Moreover, LCK's Cooper Basin exploration permits portfolio has further allowed the Company to diversify its activities with a secondary development project complementing the Leigh Creek Energy Project.
The LCK stock was trading 3.703% higher at AU$0.140 per share on the ASX at 3:10 PM AEST.
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3rd Sep 03:21 PM AEST
Future Generation (ASX:FGX) offers one-for-one bonus options to all shareholders
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Investment focused company, Future Generation Australia Investment Company Limited (ASX:FGX) shared on Friday that the Company’s one-for-one bonus option has been issued to all shareholders without any additional cost.
Each Option from the Company provides holders with the right to purchase one additional Future Generation Australia share for AU$1.48 per option without paying additional brokerage fees. This is not an obligation.
The options can be availed within before 28 April 2023. Shares issued on options exercised on or before 17 November 2021 and held at the dividend record date of 22 November 2021 will receive the fully franked interim dividend of 3.0 cents per share. This further represents the annualised fully franked dividend yield of 4.1% and a grossed-up dividend yield of 5.8% on the exercise price of AU$1.48 per option.
FGX stock traded at AU$1.465 per share, up 2.090% at 2:50 PM AEST.
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3rd Sep 02:48 PM AEST
GR Engineering (ASX:GNG) executes EPC contract with Aurenne
The ASX-listed engineering company GR Engineering Services Limited (ASX:GNG) shared on Friday that the Company has carried out the engineering, procurement, and construction contract with Aurenne Alt Resources Pty Limited concerning the Mt Ida Gold Project.
The Gold Project is located in the eastern goldfields of Western Australia. The total sum of the contract is approximately AU$73 million, and the work is expected to start immediately.
GR Engineering has also shared they it is looking forward to collaborating with the Aurenne team. This project also further establishes GR Engineering’s reputation as the leading gold EPC contractor in Australia.
GNG stock was trading at AU$1.780 per share, up 0.281% at 2:30 PM AEST.
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3rd Sep 02:47 PM AEST
BCAL Diagnostics (ASX:BDX) begins its stage one Australian clinical program
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Breast cancer screening and diagnostic company BCAL Diagnostics Limited (ASX:BDX) shared on Friday that the Company has begun to collect samples for the first stage of its Australian clinical program. The samples were to be used for evaluating performance and validate their blood-based test for detecting breast cancer.
Key highlights:
- BDX has shared that other clinical partners are expected to join the study soon in the upcoming months.
- BDX has strategised stage one of the diagnostic test development program, analysing blood from 1,000 participants.
- The blood samples collected will be further used to evaluate candidate biomarkers, optimise the algorithm for analysing biomarker differences between samples and establish improved workflows for the BCAL test.
The BDX stock, at 2:30 PM AEST, traded at AU$0.200 per share, up 2.564%.
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3rd Sep 01:40 PM AEST
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3rd Sep 01:01 PM AEST
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3rd Sep 12:41 PM AEST
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3rd Sep 11:57 AM AEST
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3rd Sep 11:57 AM AEST
Energy, miners propel ASX 0.5% higher; BHP and Woodside rise, Afterpay falls
The Australian share market extended gains in afternoon trade as higher commodity prices helped material and energy stocks recover ground. Investor sentiment was also propped up firm cues from Wall Street, which climbed to record highs overnight trade. In a further boost to the market, credit ratings agency S&P Global upgraded its 2021 global economic growth forecast to 5.9% on rising vaccination rates, raising optimism for the Australian economy as it seeks to avert a recession.
The ASX 200 was currently trading 27.10 points or 0.36% higher at 7,512.80, by lunch. Early today, the index opened in green and rose as much as 0.5% to hit a high of 7,522.90.
On the sectoral front, seven of 11 sectors were trading in green zone, while energy sector gained the most, thanks to rise in crude price. Energy sector was followed by materials, utilities and health care, among others.
Meanwhile, information technology sector was the worst performer by lunchtime, trading lower by 0.7%. Industrial, financial and telecom sector also traded lower with marginal losses.
On the COVID-19 front, NSW reported 1431 new local cases and twelve deaths in the past 24 hours, the highest number of daily case tally recorded in the state. Victoria also witnessed spike in cases as its case tally rose 208 on Friday.
The top gainer on the benchmark index was Australia’s biggest independent coal miner Whitehaven Coal (ASX: WHC) with 4.5% gain. Some of the other notable gainers were miner Orocobre (ASX: ORE), resource company Iluka Resources (ASX: ILU), biopharma major Mesoblast (ASX: MSB) and mining firm Pilbara Minerals (ASX: PLS).
On the losing side, buy now, pay later major Afterpay (ASX: APT) topped the losers’ chart by falling 2.7%. some of the other worst performers were Australia-based Bendigo and Adelaide Bank (ASX: BEN), corporate bookmaker PointsBet Holdings (ASX: PBH), fintech company IRESS (ASX:IRE) and plumbing and bathroom supplier Reece (ASX: REH).
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3rd Sep 11:24 AM AEST
Mont Royal (ASX:MRZ) to acquire 75% of Northern Lights, shares jump over 15% on ASX
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ASX-listed mining firm Mont Royal Resources Limited (ASX:MRZ) announced on Friday that the Company has proposed acquiring 75% of Northern Lights Minerals Pty Limited.
MRZ has determined to acquire the Australian proprietary limited company to acquire a significant land package in the Upper Eastmain Greenstone Belt located in Quebec, Canada.
Key highlights:
- Northern Lights has an option to acquire an interest in 70% of the Dios Assets.
- As per MRZ’s announcement, Northern Lights also had a right to acquire a 100% interest in the Focus Assets.
- MRZ is likely to issue the shareholders of Northern Lights 5,000,000 fully paid ordinary MRZ shares as consideration.
- MRZ has shared that the consideration shares would be subjected to voluntary escrow for 12 months.
- Mont Royal has also shared that the year-round access road access via route 167 North, with the Acquisition Assets, will also be covered by Société du Plan Nord.
- MRZ has also settled to expedite exploration activities across the suite of new assets.
- MRZ had also undertaken capital raising of AU$4,000,000 in conjunction with the Proposed Acquisition.
The MRZ stock was spotted trading 15.151% higher at AU$0.380 per share at 11:00 AM AEST.
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3rd Sep 11:08 AM AEST
Orbital Corporation (ASX:OEC) delivers second engine system to major Singapore customer
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ASX-listed industrial technology company Orbital Corporation Limited (ASX:OEC) declared via an announcement that it has delivered a second engine system to its eminent Singapore customer for further assessment requirements.
The Company further revealed that the said delivery is a part of Orbital UAV’s Memorandum of Understanding (MoU) signed in March last year, to design, develop and create a multifuel unmanned aerial vehicle (UAV) engines. As per the announcement, the first engine system was delivered earlier this year and the Company continues to work on a third engine system for delivery later this year.
Todd Alder, CEO and Managing Director of Orbital UAV has called the development a major milestone in the engine development program.
It is worth mentioning that Orbital UAV is currently progressing multiple engine development programs for its growing portfolio of global customers. Besides, Orbital UAV is working actively with its Singapore customer to finalise the requirements and scope of Phase 3 of the program regarding authorisation of a low-rate production run of the multi-fuel engine.
Meanwhile, the shares of the Company dropped more than 5% to trade at AU$0.600 per share at 10.45 AEST.
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3rd Sep 10:53 AM AEST
Mineral Resources (ASX:MIN) acquires 40% interest in Red Hill (ASX:RHI) JV
Mineral Resources (ASX:MIN) completed the acquisition of Red Hill Iron Limited’s (ASX:RHI) 40% participating interest in the Red Hill Iron Ore Joint Venture (RHIOJV). The acquisition is related to ore situated in the West Pilbara region of Western Australia.
The acquisition aligns with MIN’s expansion strategy around its’ Ashburton Hub for long-term, sustainable iron ore export business.
The completion of RHIOJV interest fulfilled the condition of Red Hill shareholder approval yesterday. As a result, MIN has paid Red Hill AU$200 million out of existing cash resources for acquisition.
After transaction completion with Red Hill, MIN now holds 40% participating interest in RHIOJV; the remaining 60% is with the Australian Premium Iron Joint Venture (APIJV). The APIJV is a joint holding of AMCI (IO) Pty Ltd (50%) and Aquila Steel Pty Ltd (50%). MIN also holds 15% of Aquila Steel Pty Ltd.
MIN seeks to work constructively with the APIJV on RHIOJV to deliver maximum value to all stakeholders.
MIN shares were spotted trading 3.640% higher at AU$55.230 per share at 10:50 AM AEST.
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3rd Sep 10:52 AM AEST
ASX 200 opens higher; STO, VEA, WPL lead gains as crude oil tops US$70
On the last day of the week, the Australian share market has opened on a higher note, taking cues from a green session on Wall Street. The ASX 200 rose 17.6 points or 0.24% to 7,503.3 in the opening trade. The rise in crude oil prices is pushing domestic energy stocks higher for the day.
The S&P 500 and NASDAQ Composite surged to new all-time highs on Thursday and Wall Street's main indices ended in positive territory. The S&P 500 gained 0.28% to 4,536.94, while the Dow Jones Industrial Average was up 0.37% to 35,443.83. The NASDAQ Composite rose 0.14% to 15,331.18.
As of 10:30 AM AEST, The ASX 200 has moved slightly higher and was trading 0.28% or 20.6 points up at 7,506.3. The ASX All Ordinaries Index was trading 0.34% or 26.5 points up at 7,810.3.
Coming to the sectoral performance, it is almost mixed today. Six out of the 11 sectors are trading in red, with the Information Technology sector leading the fall, shedding 0.85%. Utilities and the Materials sectors are gaining 0.36% and 0.21%, respectively.
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3rd Sep 10:52 AM AEST
MGC Pharma’s (ASX:MXC) drug gets import approval for India, shares soar on ASX
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The share price of the ASX-listed Europe based biopharma company, MGC Pharmaceuticals Ltd (ASX:MXC), surged 12.7% to trade at AU$0.053 per share at 10:30 AM AEST, as the Company shared it has received permit to send CimetrA to India.
Friday Buzzing ASX Stocks: FINEOS, Altium, MOQ & MGC Pharma
The approval has been granted by the Indian Central Drugs Standard Control Organisation (CDSCO). As a result, CimetrA would become a significant component used in the final product testing to complete its application for Emergency Use Authorisation to treat patients with COVID?19 in India.
Key highlights:
- MXC has shared that the Emergency Use Authorisation will allow MGC Pharma to market and sell CimetrA as an approved medicine for the treatment of COVID?19 in India and potentially in other parts of the world under international Mutual Recognition protocols for medicines.
- One of India's biopharma manufacturers and exporters, Medopharm Private Ltd, has managed the Emergency Use Authorisation process for CimetrA in India on behalf of MGC Pharma.
- Medopharm would act as the importer for CimetrA in India after the approval from Emergency Use Authorisation.
- MXC has also shared that CimetrA is also undergoing a Phase III trial for the treatment of COVID?19 in Israel.
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3rd Sep 10:33 AM AEST
MOQ Limited (ASX:MOQ) sells 100% of its shares in Skoolbag to Skilligence
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On Friday, ASX-listed Software Company MOQ Limited (ASX:MOQ) announced that that the Company has entered into a conditional binding agreement for the sale of 100% of the shares in its fully owned subsidiary, Iimage Technical Services Pty Ltd, which trades as Skoolbag. The sale is made to Skilligence Pty Ltd, trading as Junior Engineers for a price of AU$4 million cash.
The deal is expected to close on or before 30 September this year.
The announcement said that the purchase price is payable on completion with any final working capital adjustment to be made following finalisation of the completion statement.
Friday Buzzing ASX Stocks: FINEOS, Altium, MOQ & MGC Pharma
Further, as per the announcement, MOQ will offer transitional services to the Purchaser for a limited period, if required.
The cash proceeds from the Skoolbag transaction will increase MOQ’s cash position which is a significant enabler of the company’s future growth strategy.
MOQ Limited stock was spotted trading at AU$0.205 per share on the ASX.
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3rd Sep 10:15 AM AEST
Technology One (ASX:TNE), all set to expand in the UK, acquires Scientia
ASX-listed enterprise Software as a Service Company, Technology One Limited (ASX:TNE), shared on Friday that the Company has settled an agreement to acquire Scientia Resource Management Limited, a higher education software provider company in the UK.
The probable consideration will be GB£12 million, including an initial payment of £6 million. The further payments will be based on achieving progressive earnouts out to FY23. The total consideration will be in the form of cash payments funded from internal sources. As a result, the acquisition is earnings neutral for FY21.
TNE shared it believes that this acquisition is a part of its strategic focus to deliver the best for Higher Education. It would also accelerate the Company’s growth and competitive position in the UK and significantly benefit the Australian Higher Education market.
TNE traded last at AU$10.13 per share on the ASX.
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3rd Sep 10:15 AM AEST
FINEOS (ASX:FCL) raises A$70 million via placement
Australia’s leading financial firm FINEOS Corporation Holdings PLC (ASX:FCL) announced on Friday that it has managed to complete a fully underwritten institutional placement and has raised AU$70 million.
The Company had to issue around 16.3 million fully paid CHESS Depository Interests (CDIs) over FCL ordinary shares.
Friday Buzzing ASX Stocks: FINEOS, Altium, MOQ & MGC Pharma
The Placement was done at an offer price of AU$4.30 per new CDI and represents a 5.1% discount to FCL’s closing price on 2 September 2021 - AU$4.53 per CDI.
The placement got a robust support from both current and new security holders. Therefore, FINEOS has upsized the Placement by AU$10 million to AU$70 million.
FINEOS informed that the money generated from the Placement will mainly be used to support its opportunity pipeline and provide working capital and balance sheet support for planned R&D investments and organic and inorganic growth opportunities.
The new CDIs are expected to settle on 7 September 2021 and will be allotted on 8 September 2021.
Meanwhile, FINEOS also had announced on 2 September 2021, that it will be undertaking a non-underwritten security purchase plan (SPP) to raise up to AU$5 million.
On the ASX, the stock FCL traded last at AU$4.530 per share.
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3rd Sep 09:27 AM AEST
ASX 200 to rise after Wall Street ends higher
The Australian share market is expected to open on a positive note on the last trading day of the week after US stocks moved higher overnight. The global equities surged after jobless claims data revealed that the US labour market climbed ahead despite a recent rise in COVID-19 cases.
The Australian benchmark index ASX 200 is set to open the day 17 points or 0.2% higher after falling 0.55% to 7,485.7 points on Thursday. Shares fell in the previous session as investors booked profits on several stocks. Ampol, Bendigo and Adelaide Bank, and Bravura Solutions are a few shares going ex-dividend on Friday.
The ongoing concerns over the state of the US economy eased with layoffs hitting their lowest levels in over 24 years.
However, the employment report shows a slowdown in nonfarm payrolls growth. On Wall Street, the Dow Jones rose 0.37%, the S&P 500 added 0.28% and the NASDAQ Composite advanced 0.14%.
US Treasury yields fell ahead of the government’s labour data release on Friday. Experts say that the data could break yields out of a tight range.
The benchmark 10-year yield slipped 1.3 basis points to 1.2886%.
On the other hand, the dollar weakened on Thursday following a strong labor market data. The dollar index fell 0.29% to 92.221.