Live ASX News Today
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6th Sep 08:13 PM AEST
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6th Sep 08:10 PM AEST
Pushpay Holdings Limited (ASX:PPH) appoints Richard Keys as Interim CFO
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Shares of ASX-listed Pushpay Holdings Limited (ASX:PPH), a provider of donor management system gained more than 1% after the Company announced the appointment of Richard Keys as Interim Chief Financial Officer, effective today.
Shane Sampson will quit the post at the end of this month. Today’s announcement revealed that Richard will join Pushpay on a consultancy basis.
Richard Keys has a rich experience, which includes- 30 years of healthcare and management experience in the public as well as private sectors, which comprises listed and government entities & large complex organisations. Richard is also a member of the New Zealand Markets Disciplinary Tribunal.
It is to be noted that Richard has also served as COO (2011-2015) and CFO (2003-2011) during his term at Abano Healthcare Group Limited. In addition, he is also a member of the Chartered Accountants Australia & New Zealand.
Besides, as per today’s announcement, Pushpay’s executive search to appoint a US-based CFO is advancing well.
In yet another announcement, today the Company has also released a list of 20 largest holders of Pushpay ordinary shares as of 31 March 2021.
Meanwhile, shares of Pushpay Holdings Limited closed at AU$1.700 per share, up 1.1% on the ASX today.
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6th Sep 08:02 PM AEST
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6th Sep 07:59 PM AEST
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6th Sep 07:39 PM AEST
UN warns Australian economy to face dire consequences if carbon emissions are not reduced
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In a latest development, United Nation’s assistant secretary-general for climate action and special advisor to the secretary-general, Selvin Hart, reiterated the demand for the Organisation for Economic Co-operation and Development (OECD) countries, including Australia, to stop using coal by the year 2030.
In an alert, the UN official has said that the climate crisis will be devastating to the Australian economy if coal is not expeditiously phased out. Recently, the Morrison government has been under tremendous pressure to reduce its dependence on coal and to fulfil its energy needs.
Earlier, Australian Prime Minister Scott Morrison had promised a long-term emissions framework before the Glasgow summit; however, he did not commit to lifting the targets or formulating new policies. Recently, the treasurer, Josh Frydenberg, was quoted as saying that a progress in this direction has been made behind closed doors within the government while also stating that he was “very comfortable” with the 2030 target.
It is to be noted that Australia is among the world's biggest carbon emitters per capita.
Morrison had earlier said that the Country was on a pathway to net-zero emissions.
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6th Sep 07:35 PM AEST
Future First (ASX:FFT) wins three new contracts from the acquired EagleSoft
The ASX-listed digital portfolio creating company Future First Technologies Ltd (ASX:FFT) has announced three new contract wins resulting in AU$305,000 from its recently acquired AI-powered Intelligent Data Capture software EagleSoft on Monday.
Key highlights:
- FFT shared that it has expanded its international revenue base to New Zealand.
- FFT also revealed the addition of infrastructure asset audits as a new service offering to its clients.
- FFTS’ EagleSoft technology’s first achievement in an existing Asset Vision client
- The Company has also accelerated integrating EagleSoft’s AI-powered, Automated Inventory and Defect Detection capability into the Asset Vision platform.
The FFT stock closed 7.843% higher at AU$0.055 per share on the ASX today.
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6th Sep 07:35 PM AEST
3D Meralforge (ASX:3MF) signs LOI with Australian Missile Corporation
The ASX-listed additive manufacturing Company 3D Metalforge Limited (ASX:3MF) has shared in its recent announcement that the Company has signed a non-binding letter of intent with the Australian Missile Corporation Pty Ltd. Accordingly, the Company has at this moment has agreed to cooperate with AMC to help fulfil the Australian Government's long-term goal of developing sovereign Australian defence industrial capabilities.
The AMC is a new collaboration platform joined by Australian defence industry partners, academia and government organisations. AMC's objective is to establish a sovereign guided missile manufacturing enterprise in Australia. AMC is a 100% owned subsidiary of NIOA. It is also the largest Australian-based supplier of weapons and ammunition to the Australian Defence Forces.
The Australian Prime Minister announced on 31 March 2021 the accelerated development of a new Sovereign Guided Weapons Enterprise to support missile and guided weapons manufacturing. The Sovereign Guided Missile Enterprise will be a part of an AU$270 billion Government spending plan over the upcoming decade to strengthen Australia's defence forces, including high-tech submarines, new fighter jets, hypersonic weapons, and advanced munitions.
3MF stock closed 17.241% higher at AU$0.170 per share on the ASX today.
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6th Sep 07:18 PM AEST
Pan Asia Metals (ASX:PAM) raises A$6 million to be funded for exploitation activities
The ASX-listed battery and critical metals explorer and developer Pan Asia Metals Limited (ASX:PAM) announced the successful completion of a private placement. PAM has also shared that the placement was well supported with firm commitments that helped the Company to raise AU$6.0 million before costs through the issue of 15 million shares at AU$0.40/share to institutional and sophisticated investors.
Key highlights:
- PAM has shared in the announcement that Share Purchase Plan (SPP) will be offered to shareholders at the same price to raise AU$2.0 million.
- Among various investors, PAM has shared that Viriathus Capital has acted as the Lead Manager to the AU$6.0 million placement and has been paid a fee of 6% of the funds raised. Settlement scheduled for Friday 10th September 2021
- PAM will use the raised fund during its exploration projects.
PAM stock closed 11.881% higher at AU$0.565 per share on the ASX today.
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6th Sep 06:59 PM AEST
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6th Sep 06:39 PM AEST
Centuria office (ASX:COF) proposes acquisition equity raising
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The ASX-listed real estate and investment trust company, Centuria Office REIT's (ASX:COF) responsible entity Centuria Property Funds Limited, has shared the following in its latest announcement:
- The announcement has revealed the proposed acquisition of interests in two high-quality office properties in key near the city and metropolitan markets in Melbourne and Sydney for a total purchase price of AU$273.1 million.
- The Acquisitions will likely consolidate COF's position as Australia's largest listed pure-play office REIT with an AU$2.3 billion portfolios of quality office assets.
- A fully underwritten one for a 6.4 accelerated non-renounceable entitlement offer raised approximately AU$201.0 million at an issue price of AU$2.50 per unit.
- Additionally, the FY22 guidance has confirmed Funds from operations of 18.0 cents per unit 3, reflecting a 7.2% yield on the Issue Price; and Distribution of 16.6 CPU, reflecting a 6.6% yield on the Issue Price.
Meanwhile, the COF stock closed at AU$2.590 per share on the ASX.
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6th Sep 06:17 PM AEST
Aussie Government provides funding for Jatcorp’s (ASX:JAT) clinical trials
The ASX-listed company from the consumer sector, Jatcorp Limited (ASX:JAT), has shared on Monday that it has received Commonwealth financial support in the next step of commercialising the two JAT developed formulas were demonstrated in a research project undertaken with The University of Sydney.
The formulas discovered through the study helped to neutralise SARS-CoV-2 infection in certain circumstances. The assistance is being provided by the Australian Government Department of Industry, Science, Energy and Resources as part of the Entrepreneurs’ Programme.
The announcement also stated that JAT has invested over AU$500,000 to develop the immunity support formulas, including Jinvigorate Platinum and Moroka Platinum, which were the subject of The University of Sydney research project referred to above. In addition, JAT will utilise the funding for the next step of formula development, i.e., clinical trials.
The JAT stock closed 6.66% higher at AU$0.16 per share on the ASX today.
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6th Sep 05:21 PM AEST
Kleos (ASX:KSS) secures A$12.6 million to grow constellation
The Luxembourg-based IT company, Kleos Space S.A (ASX:KSS) shared today that it has secured AU$12.6 million from new and existing institutional and sophisticated investors in Australia and the U.S.
Kleos stated that it has gathered the investment by placing approximately 14,823,529 new CHESS Depositary Interests over Kleos ordinary shares at AU$0.85 per CDI (Placement).
The placement price of AU$0.85 denotes a 9.6% discount to the 30-day volume-weighted average trading price. In addition, it includes three attaching options for every five CDIs issued, exercisable at AU$1.20 that would expire after three years from the date of issue.
Kleos has also shared that its placement included cornerstone investments from Perennial Value Management and Thorney Investment Group.
Meanwhile, the KSS stock closed at AU$0.845 per share, down 11.519% on the ASX.
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6th Sep 04:46 PM AEST
ASX ends tad higher, eyes on RBA statement; HealthCo surges 15% on IPO debut
The Australian share market closed marginally higher in choppy trade on Monday, led by late buying in consumer discretionary, tech, utilities and telecom stocks. The equity market staged smart recovery in the last few hours of day’s trade on hopes that the Reserve Bank may delay tapering of its economic stimulus at its monthly meeting on Tuesday. The market analysts expect the central bank to pause its taper in the wake of a deterioration in the economic outlook due to continued rise in the COVID-19 cases.
The ASX200 closed 5.60 points higher at 7,528.50. Earlier today, the index opened sharply lower and declined as much as 1.1% to hit a low of 7,440.10, weighed down by ex-dividend companies.
The market breadth, indicating the overall strength of the market, was weak as six of 11 sectors ended in red zone. The energy sector emerged as the worst performer with a 2.1% loss, owing to fall in crude oil prices. The price of Brent crude dropped 0.6% to US$72.61 a barrel and US oil fell 1% to US$69.29 per barrel.
Energy sector was followed by material, which dropped 1.4% despite rise in iron ore prices. The iron ore prices improved by 1.2% to US$144.71 a tonne after reporting sharp slump last week. The sell-off in material space was led by Fortescue Metals, while index heavyweights BHP Group and Rio Tinto also closed lower.
On the flip side, consumer discretionary was the best performing sector with 0.7% gain, followed by tech, utilities and telecom, among others.
International student placement service provider IDP Education (ASX:IEL) topped the gainers’ list by rising 4.35%. Some of the other top performers were software firm Appen (ASX: APX), alumina and bauxite producer Alumina (ASX: AWC), gold miner Evolution Mining (ASX: EVN) and e-retailer Redbubble (ASX: RBL).
On the flip side, iron ore miner Fortescue Metals (ASX:FMG) emerged as top loser with 11% loss. Some of the other top laggards were healthcare firm Pro Medicus (ASX: PME), realty firm Lendlease Group (ASX: LLC), miner Pilbara Minerals (ASX: PLS) and real estate investment manager Cromwell Property (ASX: CMW).
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6th Sep 04:45 PM AEST
Openn (ASX:OPN) appoints USA Director of Operations
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ASX-listed property technology company, Openn Negotiation Limited (ASX:OPN), shared the latest update on its US pilot programme. The announcement stated that the Company has appointed USA director of operations to run USA operations of the Company.
OPN has appointed Eric Bryant as the Director of Operations of Openn USA Inc. Eric will be responsible for giving maximum support to roll out the USA pilot program and develop Openn’s USA market strategy.
Eric comes with 25 years of professional experience in the US in the real estate sector. Eric is also enriched with experience in real estate business development and far spread network across the entire sector in the US.
Meanwhile, OPN stock closed at AU$0.215 per share, down 4.445% today.
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6th Sep 04:24 PM AEST
CIMIC’s (ASX:CIM) Leighton wins the building project in India
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Australia-based contractor and contract miner CIMIC Group Limited’s (ASX:CIM) Leighton Asia was selected by Phoenix IT City Private Limited. Leighton was assigned to construct Equinox; an Indian Green Building Council Platinum rated commercial complex in Hyderabad, India.
Key highlights of the project:
- CIMIC stated in the announcement that the construction works include the delivery of four commercial office towers, including two 20-storey and two 11-storey buildings, all with three common basements.
- CIM also shared that the construct-only contract includes delivering civil and structural works, mechanical, electrical and plumbing services, façade and external works.
- The Company has shared that construction is expected to commence in October 2021 and complete in Q2 2023.
- Leighton expects to earn AU$140 million in revenue from this project.
Meanwhile, the CIM stock closed at AU$21:34 per share, down 2.470% on the ASX.
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6th Sep 04:11 PM AEST
Why Sacgasco (ASX:SGC) shares closed 8% higher today?
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The ASX-listed company from the oil and gas sector Sacgasco Limited (ASX: SGC) confirmed its acquisition of Yilgarn Petroleum Philippines Pty Ltd, which holds a 30.1% working interest in Service Contract 54A. SGC also announced that it has secured an oil offtake agreement for future production from its Philippines assets.
Key highlights:
- The announcement has stated that SC54A Working Interest has increased to 72.5%, with Sacgasco as Operator.
- Sacgasco’s agreement with IMC Investments Capital Pte Ltd has stated that SGC will acquire its wholly-owned subsidiary Yilgarn for consideration of A$1 (one dollar) and up to a maximum royalty of US$1.5 million paid after commercial production is achieved.
- SGC’s announcement has also stated that the royalty will be paid at the rate of 30.1% of the contractor share of net proceeds from SC54A.
The SGC stock closed 8.108% higher at AU$0.04 per share on the ASX.
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6th Sep 04:10 PM AEST
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6th Sep 02:55 PM AEST
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6th Sep 01:22 PM AEST
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6th Sep 01:12 PM AEST
Ex-dividend stocks drag ASX 1% lower; Fortescue Metals, Pro Medicus lead fall
The Australian shares continue to witness a surge in selling in afternoon trade as ex-dividend stocks dragged the market lower. The weak cues from Wall Street as well as concerns about delta variant derailing economic growth also injected negativity in the market. The biggest drag on the market was Fortescue Metals, which nosedived nearly 9% after the iron ore miner turned ex-dividend today.
The ASX 200 was currently trading lower by 56.50 points or 0.75% to 7,466.40, by lunch. Early today, the index opened in red and declined as much as 1.1% to hit a low of 7,440.10.
In a rare sight, all 11 sectoral indices were bleeding in red, while the energy sector declined the most. The energy sector was down over 2%, followed by consumer stapled, which fell 1.3%. Material, health care, financial and A-REIT traded lower by 1% each. Among others, telecom, consumer discretionary, industrial and utilities also witnessed a surge in selling activity.
Blue-chip miner Fortescue Metals (ASX:FMG) topped the losers’ chart by falling 8.85%. Some of the other top laggards were health care firm Pro Medicus (ASX: PME), real estate investment trust Viva Energy REIT (ASX: VVR), realty firm Lendlease Group (ASX: LLC) and gold miner WestGold Resources (ASX: WGX).
On the gaining side, software firm Appen (ASX: APX) was the top performer with a 4.5% gain. Some of the other notable gainers were alumina and bauxite producer Alumina (ASX: AWC), BNPL player ZIP Co (ASX: ZIP), miner Nickel Mines (ASX: NIC) and retail travel outlet Flight Centre Travel Group (ASX: FLT).
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6th Sep 12:23 PM AEST
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6th Sep 11:48 AM AEST
Oil slips on weaker-than-expected US jobs report
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Crude oil prices inched lower on Monday followed by a weaker-than-expected US jobs report indicating a slow economic growth and lower fuel demand amid a surge in new coronavirus cases. November delivery Brent Crude oil futures last traded at US$71.99 per barrel down 0.65%, whereas October delivery WTI crude oil futures traded 0.81% down at US$68.73 per barrel as of 06 September 2021 at 10:26 AM AEST.
The production of O&G in the US Gulf of Mexico remained halted as Hurricane Ida hit the US Gulf of Mexico with around 93% of daily crude oil production suspended, as per the records of the Bureau of Safety and Environmental Enforcement.
Crude oil prices followed the same trend after recording a significant drop on Friday amid dampening energy demand due to a rise in new coronavirus cases.
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6th Sep 11:31 AM AEST
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6th Sep 11:19 AM AEST
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6th Sep 11:12 AM AEST
Washington H. Soul Pattinson (ASX:SOL) expects an EBITDA of A$372 million
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On Wednesday, ASX-listed investment holding Company Washington H. Soul Pattinson & Company Ltd (ASX:SOL) in its FY21 update made a slew of announcements. The Company has said that it expects the Group’s Consolidated FY21 Regular NPAT is likely to be in the range of AU$316 million to AU$336 million as against AU$170 million in FY20.
Besides, other crucial points mentioned in today’s update include:
- New Hope revealed in its 31 July 2021 Quarterly Report that they expect an EBITDA of AU$372 million for FY2021, this was due to the thermal coal prices currently being at a 10-year high. This result is unaudited. New Hope is likely to announce its full year results on 21 September 2021.
- Following a trading update from Brickworks on 9 June 2021, the Company highlighted that it expects record earnings from its property division, driven by the continued increase in the value of its property trust. The company is due to report their full year results on 23 September 2021.
- Round Oak expects a Regular NPAT for FY2021 in the range of AU$64 to AU$68 million. This is a significant improvement on the FY2020 Regular NPAT loss of AU$43 million as commodity prices (primarily zinc and copper) have improved and the company moved from development into production at a number of its mines. Round Oak, a base metal mining company, is a wholly owned subsidiary of WHSP.
The Company has said that post the merger of TPG and Vodafone in July last year, WHSP no longer equity accounts its share of TPG’s NPAT. Furthermore, the Company received only one dividend from TPG amounting to AU$18m in FY21.
According to the announcement, WHSP will release its preliminary final report on 23 September 2021.
SOL traded at AU$35.170 per share at 10:50 AM AEST on the ASX.
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6th Sep 11:01 AM AEST
ASX 200 opens lower; MGF, NRW, SOL to remain in focus
On Monday, the Australian share market has opened lower, owing to jittery sentiments from increasing COVID-19 infections in the country. The ASX 200 was down 0.9 points to 7,522, during the opening trade. The market participants are also cautious ahead of the central bank's policy meeting on 7 September 2021, where a decision on tapering plans might be announced.
The NASDAQ ended Friday’s session at a new closing high, but the other main Wall Street indices fell, reflecting the mixed sentiment stemming from a disappointing US jobs report. The S&P 500 closed almost flat at 4,535.43, losing a minor 0.03%, while the Dow Jones fell 0.21% to 35,369.09. The NASDAQ Composite ended the session 0.21% up at 15,363.52.
The top ASX 200 contributors in today’s fall are Fortescue Metals Group Limited (ASX:FMG) and Pilbara Minerals Limited (ASX:PLS), both losing 9.69% and 6.19%, respectively. On the other hand, a few stocks trying to keep the index from falling are Alumina Limited (ASX:AWC) and IDP Education Limited (ASX:IEL), both gaining 5.26% and 2.73%, respectively.
AMA Group Limited (ASX:AMA) has voluntarily requested the ASX for a trading halt on its listed securities pending a further announcement regarding a capital raising. The halt is expected to remain until 10 September 2021 or until an announcement is released.
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6th Sep 11:01 AM AEST
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6th Sep 10:43 AM AEST
HT&E settles for potential sale of Luxury Escapes
HT&E Limited (ASX:HT1) announced today that it has signed an agreement for the potential sale of its shares in Lux Group Limited (Luxury Escapes).
Monday Buzzing ASX Stocks: NRW Holdings, Hansen Tech, HT&E
The Company shared that Auctus Asset Management Pty Ltd (AVC) has agreed with various shareholders in Luxury Escapes, to purchase their shares and also invest primary capital in Luxury Escapes to help in future growth.
Key conditions of the agreement:
- The agreement is conditional on various matters, including AVC raising minimum funding of AU$60 million.
- There is 75 days for the funding to be raised.
- The portion of shares to be purchased is also dependent on the number of shareholders who participate, and the amount of funds raised by AVC.
- If the transaction with AVC proceeds, HT&E could receive proceeds of up to AU$23.2 million, though under the terms of the agreement, only a portion of HT&E’s shares may be sold with a corresponding reduction in the proceeds received.
Meanwhile, the stock was spotted trading at AU$1.705 per share, down 2.293% at 10:20 AM AEST today.
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6th Sep 10:19 AM AEST
BGH Capital withdraws acquisition proposal for Hansen (ASX:HSN)
Hansen Technologies Limited (ASX:HSN), a firm that delivers software services to the industries pertaining to energy, water and communications, shared on Monday that BGH Capital Pty Ltd has withdrawn its conditional and non-binding proposal to acquire all of the outstanding shares in Hansen.
BGH proposed to acquire Hansen for a price of AU$6.50 cash per Hansen share.
Monday Buzzing ASX Stocks: NRW Holdings, Hansen Tech, HT&E
Accordingly, discussions with BGH Capital in relation to the Proposal have now stopped and the Process and Exclusivity Deed between BGH Capital and Hansen has been terminated.
Hansen shared that the Co-operation Agreements entered into between BGH Capital and Andrew Hansen and, separately, Othonna Pty Limited (as trustee for the Hansen Property Trust) have been terminated.
It should be noted that BGH had conducted extensive inquiries about Hansen current operations and strategy and has shared that it continues to see Hansen as a highly effective organisation.
Meanwhile, the stock traded last at AU$6.170 per share on the ASX.
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6th Sep 09:26 AM AEST
NRW Holdings (ASX:NWH) signs Phosphate Hill Contract Extension
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Australia’s leading provider of diversified contract services to the resources and infrastructure sectors, NRW Holdings Limited (ASX:NWH) shared on 6 September 2021 that its wholly owned subsidiary Golding Contractors Pty Ltd has signed a 5-year contract extension with Southern Cross Fertilisers.
This contract suggests Golding’s mining contract at Phosphate Hill will extend till 6 September 2026.
As per the Company’s release, the expected contract extension value is anticipated to be between AU$110 million and AU$120 million over the term.
Monday Buzzing ASX Stocks: NRW Holdings, Hansen Tech, HT&E
NWH shared that Golding’s current mining fleet will continue to operate in the mine and gypsum operations and the capital will be spent on the replacement of select light and medium vehicles.
Golding employs approximately 80 people at the mine that operates on a FIFO arrangement from Townsville in Northern Queensland.
Meanwhile, the stock NWH traded last at AU$1.900 per share on the ASX.
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6th Sep 09:25 AM AEST
ASX 200 to fall ahead of RBA meet
The Australian share market is set to open lower on Monday after S&P 500 and Dow Jones closed on a mixed note last week, pulled down by weak jobs data. However, the tech-heavy NASDAQ gained as the weaker-than-expected job data eased concerns over the US Federal Reserve’s tapering plan.
The ASX 200 is expected to open 23 points or 0.3% lower after the Australian benchmark index finished higher for the first time in three consecutive sessions last Friday. The ASX 200 advanced 37.15 points, or 0.5%, to 7,522.90. Investors await Reserve Bank of Australia’s (RBA’s) next monetary policy meeting scheduled for 7 September to get an idea about tapering of bond buying program.
Meanwhile, Fortescue Metals Group Ltd’s share price would be under pressure as it trades ex-dividend on Monday.
The S&P 500 was down 0.03% to 4,535.43 and the Dow Jones fell 0.21% to 35,369.09. The NASDAQ Composite rose 0.21% to 15,363.52.
Meanwhile, Fed chief Jerome Powell had last week yet again said that the central bank would start withdrawing monetary support when the economic recovery reaches a modest pace. A jobs data released by the Labor Department last Friday revealed the unemployment rate declined by 0.2% to 5.2% in August.
The 30-year Treasury bond yields was up 2.05% to 1.946, while the 10-year bond yields rose 2.45% to 1.326.
US Dollar Futures Index decreased by 0.10% to US$92.138.