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Live News Today
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10th Sep 05:57 PM AEST
AXP Energy (ASX:AXP) reports a steady August revenue at A$1.8 million
ASX-listed AXP Energy Limited (ASX:AXP) via an announcement, updated its shareholders on revenue performance for August and said that the Company has recorded a net revenue (being revenue after royalties) of approximately AU$1.8 million in for the month (July 2021: AU$1.8 million).
The Company has revealed that the revenue raised in the first two months of the September quarter is close to AU$3.6 million. AXP Energy has also confirmed that barring any unforeseen circumstances; it expects to comfortably exceed the June quarter’s net revenue of AU$4,386,654.
According to the announcement, the revenue performance in August was mainly due to improved downstream reliability with lower natural gas production outages. Besides, the Net revenue from sales of natural gas and natural gas liquids again increased to AU$41,249,155.
Also, an improvement in gas prices and the first increases in production volumes from some new wells being brought back into production also resulted in greater revenue in August.
Nonetheless, AXP Energy revealed that Net revenue from oil sales decreased at AU$515,605 as the Company moderated oil sales because of the weakness in the oil price in the earlier part of the month.
In addition, the announcement says that AXP maintains a valuable unsold oil inventory of 22,152 barrels of oil for prior months.
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10th Sep 05:26 PM AEST
ASX ends 0.4% higher on miners’ boost; Nickel Mines, South32, Alumina Ltd lead
The Australian share market ended higher on Friday, after sharp carnage in the previous session, as mega-merger deal between Santos and Oil Search boosted sentiment. The record surge in commodity prices such as Aluminum and Nickel also supported the market. Meanwhile, the concerns about rapidly spreading Delta variant of COVID-19 weighed on the market a bit, as investors fear that it would impact economic growth.
The benchmark index, ASX 200, ended higher by 28.30 points or 0.38% at 7,397.80, led by gains in blue chips miner, energy and tech stocks. Earlier today, the Aussie market opened higher, undermining weak cues from Wall Street, and rose as much as 0.8% to hit a high of 7,430.
Overall, the ASX 200 ended week with 1.66% loss as all the sectoral indices settled in negative terrain.
The market width, indicating the overall strength, was strong, with ten of 11 sectors ending in green zone. The health care stock was the only loser with 0.7% loss.
The top gainer on the ASX was nickel producer Nickel Mines (ASX: NIC) with a 8.5% gain. Some of the other notable gainers were mining firm South32 (ASX:S32), alumina refining and bauxite mining firm Alumina (ASX: AWC), mining infrastructure service provider Mineral Resources (ASX:MIN) and agro firm Nufarm (ASX:NUF).
Meanwhile, Australian law firm Omni Bridgeway (ASX: OBL) topped the losers’ chart for the second day by falling 5%. Some of the other worst performers were software developer Iress (ASX: IRE), telecom service provider Chorus (ASX: CNU) and health care firms Polynovo (ASX:PNV) and Cochlear (ASX: COH).
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10th Sep 04:52 PM AEST
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10th Sep 04:16 PM AEST
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10th Sep 03:12 PM AEST
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10th Sep 02:21 PM AEST
Why are Macarthur (ASX:MIO) shares trading 23% strong today
Image: Representation of haul trucks loading ore © Supapornss | Megapixl.com
The share price of the minerals exploration firm Macarthur Minerals Limited (ASX:MIO), was 23.469% higher at AU$0.605 per share at 1:50 PM AEST today as the Company shared it will be retaining its Pilbara iron ore tenements.
An intra-group tenement transfer agreement would be finalised before the planned listing of Infinity on the ASX later this year. It will protect Macarthur’s ability to pursue a future iron ore extension strategy in the Pilbara.
The announcement also mentioned that Macarthur will further seek to transact with a partner on the Pilbara tenements to maintain its current focus and resources on developing its flagship Lake Giles hematite and magnetite projects.
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10th Sep 02:19 PM AEST
Enero Group (ASX:EGG) appoints Louise Higgins as Director
Image: Representation the concept of digital marketing, © Ipopba | Megapixl.com
The ASX-listed marketing communications service provider Enero Group Limited (ASX:EGG) announced the appointment of Louise Higgins to the board as an independent, non-executive director, effective from 10 September 2021.
Enero mentioned that Louise would also serve as Chair of the Board Audit & Risk Committee effective from 1 December 2021.
Louise is currently the Chief Financial Officer for the Australian Retail and Commercial Division of ANZ Bank Limited at ANZ Banking Group. She possesses an impressive and diverse set of skills, having experience across several industries and geographies during her 20-year career.
Enero believes that having Louise would strengthen and complement the efficacy of the board's current members and add overall value to the Company's strategy making.
Meanwhile, on the ASX, the EGG stock was spotted trading at AU$3.150 per share at 1:50 PM AEST.
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10th Sep 02:19 PM AEST
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10th Sep 02:05 PM AEST
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10th Sep 01:30 PM AEST
Nickel prices hit seven-year highs on strong demand
Nickel on the Periodic Table of The Elements | Source: © Lorenzot81 | Megapixl.com
Nickel prices surged close to seven-year high levels on Thursday to trade above US$19,000 per tonne on the back of strong demand from industries amid the burgeoning electric vehicle market and tight supplies. The significant rise in the prices was witnessed after China's steel player Tsingshan declared that would only supply matte from its Indonesian nickel project.
Additionally, the sales of new energy vehicles in China have almost doubled in July fueling the demand for nickel and its prices. The government's push for green vehicles to limit pollution has encouraged automobile companies to expand their operations, boosting nickel's demand.
Nickel prices hit seven-year high levels on the back of strong demand from the electric vehicle sector and the government's push towards green energy to limit pollution.
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10th Sep 01:25 PM AEST
Qantas (ASX:QAN) to ban unvaccinated travelers from international flying
Image: © Ben185 | Megapixl.com
Australia’s largest airline, Qantas Airways Limited (ASX:QAN) has become one of the first airlines to demand that all international flyers should be vaccinated.
All the unvaccinated passengers will be banned from flying internationally on Qantas planes once the overseas travel resumes, stated Alan Joyce, CEO, Qantas. The airline expects to resume flying on its international routes by Christmas.
It should be highlighted that Qantas was one of those first companies in Australia that announced it would need require all its employees to be fully vaccinated against COVID-19 by 31 March 2022 and frontline employees to be fully vaccinated by 15 November this year.
Headquartered in Sydney, Qantas suspended all international flights during the pandemic. The Company did resume some flights to New Zealand in April this year but again had them suspended in July.
The Airline plans to restart the international operations in December.
Meanwhile, on the ASX, the stock of the Company – QAN was spotted trading 2.294% higher at AU$5.350 per share at 12:50 PM AEST.
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10th Sep 12:52 PM AEST
WA Kaolin (ASX:WAK) signs 15-year Water Supply deal
Image: Representation of water piples © Chamey | Megapixl.com
The ASX-listed mining company, WA Kaolin Limited (ASX:WAK), announced that it has signed a 15-year agreement to supply water to the Company’s Wickepin Kaolin Project with the Western Australian Water Corporation.
WAK shared that the freshwater supply will come from a new lateral pipeline connected to the existing Water Corporation pipeline that runs along the Williams – Kondinin Road. This water will be useful for the processing of kaolin, amenities at the mine site, fire management and dust suppression.
The agreement will come into play shortly after installing a metering point by the Water Corporation, which is expected to take place in October 2021.
Throughout this agreement, the Water Corporation will make up to 49kL of water per day or 343kL per week to WA Kaolin.
Meanwhile, on the ASX, the WAK stock was spotted trading at AU$0.230 per share at 12:30 PM AEST.
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10th Sep 12:52 PM AEST
ASX trims opening gains; Santos, Oil Search sign AU$21B merger deal
The Australian share market continued to trade higher by mid-session, albeit reversing half of early gains, supported by buying in mining, banks and tech stocks. The surge in commodities price, especially base metals like Aluminium and nickel, also lifted the market. As many as six companies are trading ex-dividend today, including some big player such as Wisetech Global, Cleanaway Waste Management, Ariadne Australia, Argo Global.
The benchmark index, the ASX 200, was trading higher by 21.50 points or 0.29% at 7,391 by lunch. The Aussie market opened higher today, undermining weak cues from Wall Street, and gained as much as 0.8% to hit a high of 7,430 by mid-session trade.
On the sectoral front, nine of the 11 indices were trading in green, led by a 1.4% gain in material index. The material sector reversed previous session losses despite continued fall in iron ore prices. Iron ore fell 2% to US$130 a tonne in overnight trade as China curbs steel production.
Material sector was followed by information technology, which rose 0.6%. Among others, energy, consumer discretionary, financial, utilities and industrial sectors were also trading higher.
Bucking the trend, health care sector witnessed sure in selling with a loss of 0.9% by lunchtime. The A-REIT sector also traded lower with marginal losses.
The top gainer on the ASX pack was alumina refining and bauxite mining firm Alumina (ASX: AWC) with a 7.3% gain. The stock surged after aluminium prices hit a 13-year high in London overnight.
Some of the other notable gainers were mining firm South32 (ASX:S32), nickel producer Nickel Mines (ASX: NIC), resource company Iluka Resources (ASX: ILU) and G.U.D Holdings (ASX: GUD), a distributor of automotive filtration and other service parts.
Meanwhile, Australian law firm Omni Bridgeway (ASX: OBL) topped the losers’ chart for the second day. The stock was down 6.5% after falling 8% in the previous session after it received unfavourable judgement in Wivenhoe Dam flood case. The company said that one of its Brisbane floods class action targets was found not liable in a court decision.
Some of the other worst performers were software developer Iress (ASX: IRE), tech firm Appen (ASX: APX), financial services firm Magellan Financial Group (ASX: MFG) and telecom service provider Chorus (ASX: CNU).
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10th Sep 12:51 PM AEST
Why are Lattitude (ASX:LFS) shares trading strong today
The share price of the ASX-listed finance company Latitude Group Holdings Limited (ASX:LFS) was trading 2.678% higher at AU$2.300 per share as the Company opened a AU$150 million Capital Notes offer. This Latitude Capital Notes Offer was scheduled for 2 September 2021.
As per a prior announcement made on 8 September 2021, LFS allocated AU$150 million in firm commitments to Investors. The margin was being set at 4.75% p.a.
Moreover, Latitude has also shared in the announcement that it possesses the right to allocate a higher number of Capital Notes or scale back applications if needed, as estimated in the Prospectus.
The Offer will open today and is expected to close at 10:00 AM AEST on 23 September 2021.
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10th Sep 12:20 PM AEST
Crude oil dips on China’s supply plan
3D Illustration of Oil Pump Jacks on Sunset Sky Background with Financial Analytics. Concept Of Falling Oil Prices | Source: © Artemegorov | Megapixl.com
Crude oil prices tumbled to two-week low levels on Thursday after China decided to release state oil reserves. The prices were additionally weighted by a smaller-than-expected drop in the US weekly crude inventories. November delivery Brent Crude oil futures last traded at US$71.35 per barrel up 0.21%, whereas October delivery WTI crude oil futures traded 0.23% down at US$67.98 per barrel as of 10 September 2021 at 10:02 AM AEST.
China's state reserve administration decided to release crude reserves in a phased manner through a public auction, helping domestic refiners to control prices. A significant drop of 7.2 million barrels in gasoline inventories has supported crude oil price.
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10th Sep 12:03 PM AEST
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10th Sep 11:31 AM AEST
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10th Sep 10:54 AM AEST
Woolworths (ASX:WOW) issues EUR550 million sustainability linked bond
Image Source: © Tktktk | Megapixl.com
Under its Medium-Term Note Program, the consumer goods company Woolworths Group Limited (ASX:WOW) has issued inaugural EUR550 million (around AU$880 million) of senior unsecured seven-year notes. WOW has denominated Euros' notes and presently issued them to international institutional investors, primarily in the European region.
The notes are issued as Sustainability Linked Bonds (SLB), being directly linked to WOW's sustainability goals. SLB issuance is aimed to show WOW's commitment to carbon emissions reduction. It embeds a penalty margin increase applicable if, by the end of FY 2026, WOW's scope 1 and 2 emissions don't align with forecasted rates to achieve its 2030 reduction target. The emissions target will be measured on a straight-line basis, in accordance with the Paris Agreement Target.
The notes are to be settled on 16 September 2021 and priced at a 0.60% Euro base rate margin. WOW shall use the proceeds for corporate purposes like establishing long-term funding for recent investments in Quantium and PFD Food Services.
The transaction forms part of major funding of AU$1.5 billion being pursued by the group. WOW maintains its solid investment-grade credit ratings as stable as Moody's (Baa2) and S&P (BBB).
WOW, shares are pegged on the ASX at around AU$39.8 per share as of 10 September 2021.
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10th Sep 10:50 AM AEST
ASX 200 opens in green as strong bullion prices lift gold stocks
On the last day of the week, the Australian shares have opened on a positive note, supported by gains in gold stocks on the back of firm bullion prices. During the opening trade, the ASX 200 was trading 7 points up at 7,376.5, while the ASX All Ordinaries Index was up 7.3 points to 7,666.2.
The top ASX 200 contributors were Alumina Limited (ASX:AWC) and South32 Limited (ASX:S32), both gaining 5.85% and 3.72%, respectively. On the flip side, Omni Bridgeway Limited (ASX:OBL) and Magellan Financial Group Limited (ASX:MFG) were down 2.51% and 1.79%, respectively.
The market breadth has been on a positive side, with 10 out of the 11 sectors are trading in green. Financial and Industrial stocks are leading the pack, gaining 0.45% and 0.4%, respectively.
Empire Energy Group Limited's (ASX:EEG) subsidiary Imperial Oil & Gas Pty Limited has successfully executed three grant agreements with the Australian Government which will facilitate an acceleration of work program activities.
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10th Sep 10:42 AM AEST
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10th Sep 10:42 AM AEST
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10th Sep 09:52 AM AEST
US jobless claims fall to nearly 18-month low
The number of new jobless benefits claims fell to a nearly 18-month low last week, underscoring the argument that the slow hiring process wasn't due to weakening of demand for workers but fewer people turning up for work.
The weekly unemployment data released by the Labor Department on Thursday also showed that the number of people on the government's jobless rolls declined to the levels of mid-March last year.
In July, US job openings had raced to a record high, even as the layoff figures continued to fall, helping the labor market recover from the pandemic slowdown. Still, there have been major concerns over inflation and how it may impact the long-term growth of the US economy.
However, the Federal Reserve hasn’t offered any signal yet on when it plans to withdraw its bond-buying program beyond saying it could be this year.
The labor data showed the number of unemployment benefits claims dropped by 35,000 to a seasonally adjusted 310,000 for the week ended Sep 4. In early April last year, these claims had soared to a record 6.149 million.
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10th Sep 09:47 AM AEST
Resolute Mining (ASX:RSG) reports US$30 million of voluntary debt repayment
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Resolute Mining Limited (ASX:RSG) reported, on 10 September 2021, the early voluntary repayment of an additional US$30 million on the Company’s Revolving Credit Facility (RCF).
The repayment was made from the first instalment of proceeds received on the sale of the Bibiani Gold Mine and brings Resolute’s total voluntary repayments in 2021 to US$50 million, strengthening the balance sheet and reducing borrowing costs.
Why are ASX Stocks Resolute Mining, Zoom2u, Province Resources, Rhinomed in action today?
The early repayment reduces the RCF balance to US$100 million while Resolute retains the flexibility to redraw funds to the US$150 million threshold, up until the maturity date in March 2023.
Resolute’s first scheduled debt repayment under the Term Loan Facility is at the end of September 2021 and is expected to be funded from cash flows.
Meanwhile, the stock traded last at AU$0.435 per share on the ASX.
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10th Sep 09:31 AM AEST
ASX 200 to rise despite US stocks reversing earlier gains
The Australian share market is set to close the week on a positive note on Friday, likely buoyed by gains in gold stocks on the back of firm bullion prices. The ASX 200 is expected to open the day 35 points or 0.5% higher after falling 1.9% to 7,369.5 points in the previous session after payrolls data showed a steep fall in jobs in the first half of August.
Cleanaway Waste Management, WiseTech Global, and JB Hi-Fi are a few shares going ex-dividend on Friday.
In the overnight trade, Wall Street reversed earlier gains and European stocks pared losses as investors remained concerned over rising cases of coronavirus’ Delta variant, US Federal Reserve’s tapering plans and strong US weekly jobless claims data.
The three major US stock indices closed on a weak note. However, they remained near their record highs. The Dow Jones fell 0.4%, the S&P 500 dropped 0.45%, and the NASDAQ went down 0.25%.
Earlier in the day, US data showed Americans filing new claims for jobless benefits fell to the smallest number in nearly 18 months last week.
The yield on 10-year Treasury notes was down 4.3 basis points at 1.297%.
On the other hand, the dollar slipped after the US government saw strong demand for a sale of 30-year bonds. The dollar index dropped 0.23% to 92.47.
