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17^th Sep 10:25 PM AEST

Work from home likely to sustain longer than the COVID-19 crisis

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Work from home is most likely to sustain for long even after the COVID-19 pandemic, said the federal government’s critical economic advisory officer. In addition to that, a report was also published indicating the tendency of people choosing to remain in their home office by accepting pay cuts.

A report presented by the Productivity Commission showed that the percentage of people working from home in the past two years had increased significantly. From 8%, the number has jumped up to 40% of individuals currently working from home. It is higher than any previous lockdown end that took place in the past.

Michael Brennan, the Chairman of the Productivity Commission, has said that the way people swiftly changed and adapted themselves into the new work mode would remain an essential feature of professional life, long after the COVID-19 crisis is gone.

One of the significant benefits that employees see in a work from the home setup is saving money and time on the daily commute. Moreover, they also have complete control over their time in which they engage themselves in several tasks such as workout, pursuing hobbies, cooking nutritious food, etc.

However, the Productivity Commission has predicted that employees and firms will negotiate and develop a hybrid work mode. A hybrid work mode refers to the idea of splitting down their total working hours between the office and home.

As far as the question of productivity at work from home is concerned, mixed answers have been received by several individuals. Some have said that work from home has been less productive as their managers were not directly monitoring them. While, some have said that work from home allows flexibility, enabling employees to work during their convenient time. Therefore, work from home has been very productive for them.

17^th Sep 08:31 PM AEST

Healthcare player Imagion (ASX:IBX) strikes deal with Global Cancer Technology

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ASX-listed healthcare service and equipment company Imagion Biosystems Limited (ASX:IBX) announced that it has entered into a Joint Development Agreement with Global Cancer Technology (GCT).

The agreement would allow the development of GCT’s novel nanoscintillator technology for the treatment of breast cancer. According to the terms of the agreement, IBX would receive funds for R&D services while gaining an ownership interest in the arising GCT nanoscintillator product.

Meanwhile, on the ASX, the IBX stock closed a tad lower at AU$0.067 per share today.

17^th Sep 08:30 PM AEST

Hot Chili (ASX:HCH) to start drilling at Costa Fuego hub in Chile

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The ASX-listed mining company Hot Chili Limited (ASX:HCH) announced that it is preparing to start drilling a series of large-scale exploration targets in Chile. The exploration targets are located parallel to the resource expansion drilling at its Costa Fuego copper-gold development hub.

Key highlights:

HCH shared that the 3D geochemical approach generated probability models that accurately resemble the existing copper resource models at Cortadera and Productora.
The Company also shared that two large-scale, 3D geochemical targets have been identified as high probability for immediate drill testing– Productora Central and Santiago Z – both considered potential game-changers for Costa Fuego’s growing resource base.
Hot Chili also mentioned that a fourth drill rig is being secured for exploration drilling at Productora Central in Q4 this year.
Following assay results from resource expansion drilling at Cortadera are expected soon.

Meanwhile, the HCH stock closed 2.500% higher at AU$0.041 per share today.

17^th Sep 08:00 PM AEST

Rio (ASX:RIO) announces interim dividend of 376 US cents

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The ASX-listed metals and mining company Rio Tinto Limited (ASX:RIO) announced an interim dividend of 376.00 US cents per share and a special dividend of 185.00 US cents per share for the half-year ended 30 June 2021.

Rio’s shareholders are to be paid:

Interim dividend of 509.42 Australian cents per ordinary share
Special dividend of 250.64 Australian cents per ordinary share

Rio Tinto plc shareholders to be paid:

Interim dividend worth 270.84 British pence per ordinary share.
Special dividend worth 133.26 British pence per ordinary share.

The announcement also shared that the payments are subjected to currency change to Australian dollars. The exchange rates are applicable on 16 September 2021.

Meanwhile, on the ASX, the RIO stock closed, 4.698% lower at AU$98.800 per share today.

17^th Sep 07:41 PM AEST

Fe (ASX:FEL) updates on its JWD Iron Ore Project

The ASX-listed mineral exploration company Fe Limited (ASX:FEL) shared an update on progress at its JWD Iron Ore Project.

The offtake partner Glencore has booked the bulk carrier MV Bison to perform the maiden voyage of JWD lump material, with a laycan for arrival in Geraldton of 24-28 September.

Key highlights:

FEL has announced that the vessel was booked for the first shipment.
FEL’s first sale concluded to leading South-East Asian steel mill.
FEL’s first shipment was hedged at 62% Fe index price equivalent of US$160/dmt.
Trucking ramp-up continues to gain momentum.

Meanwhile, on the ASX, the FEL stock closed at AU$0.063 per share today.

17^th Sep 07:03 PM AEST

GBM (ASX:GBZ) signs deal with Uranium Inc. for sale of Brightlands Milo

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The ASX-listed metals and mining company GBM Resources Limited (ASX:GBZ) shared today that it has executed a non-binding proposal to sell its wholly-owned Brightlands Milo IOCG, Uranium and Rare Earth Project in Queensland, Australia.

The terms of the proposal:

As mentioned in the announcement, the proposal includes a 30-day exclusivity period to conduct due diligence and finalise a definitive agreement.
The proposal is subjected to satisfactory due diligence; Uranium will offer consideration comprised of: CA$500,000 in cash, payable to GBM within five business days of entering into a definitive agreement
A minimum of CA$1.5 million of Uranium’s shares to GBM, the price being determined by a seven business day VWAP calculation on the seven days before the execution of a definitive agreement.
Uranium has also agreed that should the average VWAP share price be above CA$2.00 per share; Uranium will issue 750,000 shares to GBM to cover the payment on the closing of the proposed acquisition.
Key transaction conditions precedent incorporates due diligence, TSXV, requisite shareholder approvals, and other customary conditions.

Meanwhile, on the ASX, the GBZ stock closed at AU$0.120 per share.

17^th Sep 04:51 PM AEST

Papyrus (ASX:PPY) closes substantially higher today. Here’s why

ASX-listed leading agricultural waste fibre technology company Papyrus Australia Limited (ASX:PPY) has announced that the Company has successfully completed the trial to produce commercial quantities of biodegradable food packaging products in a conventional, moulding machine.

The biodegradable food packaging products are produced from the Company’s factory-produced refined banana fibre. Papyrus said that the trial is a major milestone for the Company because it has not only proved banana fibre a viable alternative to wood pulp in moulded food packaging products but also because this is the first time that refined banana fibre has been used on standard moulding machines.

Besides, the success of the trial also demonstrates the commercial value of the Company’s patented process of producing mechanically refined banana fibre.

The stock closed 29.166% up at AU$0.031 per share today.

17^th Sep 04:35 PM AEST

Iron ore, gold miner drag ASX 0.8% lower; Fortescue, BHP, Rio fall

The Australian shares closed lower on Friday as sharp reversal in iron ore prices hammered the share price of mining heavyweights BHP, Rio Tinto and Fortescue. Adding to the woes, the fall in gold price also weighed on resource companies. The consistent rise in COVID-19 cases and subdues cues from global peers also dented market sentiment.

The benchmark index,?the ASX 200, ended?56.50 points or 0.76% lower at 7,403.70, led by material and energy stocks.?Early today, the index opened lower and declined as much as 1% to hit a low of 7,383.10, crossing below its 50-day moving average. Overall, the ASX 200 ended week on flat note as gains in energy and A-REIT stocks were offset by losses in material and consumer staples companies.

On the sectoral front, six of 11 sectors ended in negative terrain. The material sector was the worst performer with a 4.3% loss, owing to a sharp fall in iron ore prices. In the overnight trade, the iron ore extended its fall, sliding by a further 8.1% to US$107.21 per tonne. Analysts from UBS have cut their price forecasts for iron ore and now expect the commodity to fall below US$100 a tonne before the end of this year, instead of in 2022.

Material was followed by the energy sector, which fell 1.3%, owing to a fall in crude oil prices. Crude oil prices remained under pressure as easing threat of storm in the US exerted pressure on the prices. Among others, utilities, financial, consumer staples and A-REIT also witnessed a surge in selling activities.

Bucking the trend, information technology emerged as top performer with a 2% gain, tracking firm cues from the US counterpart NASDAQ Composite. The health care, consumer discretionary and industrial sector also ended marginally lower.

The top loser on the ASX pack was iron miners Fortescue Metals (ASX:FMG), which plunged 11.3%. Some of the other worst performers were financial software business Iress (ASX: IRE), coal miner Whitehaven Coal (ASX:WHC), miner Mineral Resources (ASX:MIN) as well as gold miner St Barbara (ASX: SBM).

Meanwhile, online retailer Redbubble (ASX: RBL) topped the gainers’ chart by rising 6.5%. Some of the other notable gainers were corporate bookmaker PointsBet Holdings (ASX: PBH), child care operator G8 Education Limited (ASX: GEM), property business Ingenia Communities Group (ASX: INA) and real estate investment trust Shopping Centres Australasia (ASX:SCP).

17^th Sep 03:07 PM AEST

Swift Media (ASX:SW1) shares jump 9% after new CEO announcement

Telecommunications, advertising and content solutions provider Swift Media Limited (ASX:SW1) announced the appointment of Brian Mangano as the Chief Executive Officer and Managing Director of the Company on 17 September 2021.

Mangano will replace Pippa Leary who will step down as CEO and transition to a Non-Executive Director of Swift.

Post this announcement, the shares of the stock SW1 rose 9.090% to trade at AU$0.024 per share at 2.54 PM AEST.

At present, Mangano is serving as the Executive Director and Chief Financial Officer of Swift.

17^th Sep 02:51 PM AEST

IMDEX (ASX:IMD) completes acquisition of MinePortal

The ASX-listed mining-tech company, IMDEX Limited (ASX:IMD), announced today that it has completed the asset purchase agreement to acquire the MinePortal software from Californian-based DataCloud International Inc.

The acquisition of MinePortal would help IMD enhance its technology leadership with next-generation software that would enable geological data modelling and real-time 3D visualisation. However, most importantly, the cloud-based software will help IMD enrich the value it provides to its clients and accelerate the growth within the mining production phase.

Meanwhile, on the ASX, the IMD stock was spotted trading 4.469% lower at AU$2.245 per share at 1:03 PM AEST.

17^th Sep 01:38 PM AEST

Way 2 Vat (ASX:W2V) skyrockets over 80% on ASX debut

Software solution services provider Way 2 Vat Limited (ASX:W2V) traded for the first time on the ASX today after the successful completion of an initial public offering (IPO).

The IPO raised AU$7 million via issuance of 35 million shares at AU$0.20 per share, the opening announcement read.

Meanwhile, the implied market capitalisation reported was AU$30.7 million at the time of listing.

The stock commenced trading at 1:00pm today and within half an hour, gained more than 80% on the ASX.

The Company stated in an announcement that the IPO funds will be used to support its platform and expand marketing and sales teams, research and development, compliance and security and customer support.

Way2VAT is a financial technology Company that owns and operates a patented AI technology that offers a fully automated, end-to-end VAT reclaim platform across 40 countries in 20 languages.

W2V services more than 150 enterprise customers including EY, Aviva, Siemens, Amdocs, Mastercard and Footlocker.

Despite the pandemic, Way2VAT delivered strong revenue growth last calendar year of 153% year-on-year, while revenue in the first half of 2021 grew 74% on the prior corresponding period.

The Company has already signed contracts with 20 accounting firms, representing 400+ potential clients.

At 1:20 PM AEST, the stock was spotted trading 70% higher at AU$0.340 per share.

17^th Sep 01:14 PM AEST

Balma shipment delayed, Syrah Resources (ASX:SYR) shares tumble on ASX

Graphite focused mining explorer Syrah Resources (ASX:SYR) has delayed its Balama Graphite Operation produce shipments due to scheduling changes by its shipping services provider. The shipment contains around 12 thousand tonnes (kt) of natural graphite from Balama, Mozambique.

SYR had planned to ship the graphite from Nacala in late September 2021, which is now delayed to October 2021. Natural graphite sales for the September quarter were inhibited due to shipping unavailability, which is now expected to dip further from 29kt to around 17kt. However, SYR expects the weighted average sales price for September 2021 quarter to be higher than the June quarter.

In addition, SYR also expects shipping constraints to ease by December 2021 quarter. It even expects an addition to shipping capacity for East Africa. SYR’s sales order book is underpinning 45kt of Balma’s natural graphite sales for December. The outlook for electric vehicle (EV) and anode demand remains strong, acting favourably for SYR. It, therefore, expects a cash position of US$74 million as of 30 September 2021.

SYR shares are trading at AU$1.220 per share, down 3.558% at 12:40 PM AEST.

17^th Sep 01:10 PM AEST

Oceania (ASX:OCA) welcomes to new directors on Board

ASX-listed provider of premium healthcare services, Oceania Healthcare Company (ASX:OCA) announced today, the Company has appointed Rob Hamilton and Peter Dufaur as independent non-executive directors effective from today.

Hamilton is a member of the capital markets and finance community in New Zealand, with over 30 years of experience in senior executive roles. At present, he is serving as the Director of Tourism Holdings Limited. Earlier, Hamilton was the CFO at SkyCity Entertainment Group and a MD and Head of Investment Banking at Jarden.

On the other hand, Peter Dufaur possesses over 25 years of experience in the New Zealand property market, this includes 10 years in Goodman Property Trust. During his tenure as Head of Development time at Goodman Property Trust, Dufaur supervised over AU$1.5 billion of strong property development. Besides, he also sits on several private enterprise boards.

The two new appointments will increase the strength of Oceania’s Board to eight directors.

The stock OCA was spotted trading at AU$1.480 per share on ASX at 11:40 AM AEST.

17^th Sep 12:51 PM AEST

ASX nosedives 1% on mining rout; Fortescue Metals, Iress lead fall

The Australian shares extended loss by afternoon as slump in commodity prices and mixed global cues weighed on market sentiment. A sharp fall in iron ore prices dragged the blue chips mining stocks such as BHP, Rio Tinto, Fortescue Metals, South32 and Mineral Resources. Gold miners also witnessed selling pressure as the price of yellow metal fell overnight.

The benchmark index,?the ASX 200, was trading down by 69 points or 0.93% at 7,391, by lunch. The index opened lower today and tumbled as much as 1% to hit a low of 7,383.10.

On the sectoral front, seven of the 11 indices were trading in red zone.?The material sector was the worst performer with a 3% loss, owing to sharp fall in iron ore prices which headed toward US$100 a tonne. In the overnight trade, the iron ore extended its fall, sliding by a further 8.1% to US$107.21 per tonne.

Material was followed by energy sector, which dropped 1.7%, owing to fall in crude oil prices. The crude oil prices remained under pressure as easing threat of storm threat in US exerted pressure on prices.

Among others, utilities, financial, telecom, consumer staples and A-REIT also witnessed a surge in selling activities.

Bucking the trend, information technology was the biggest gainer, rising 0.9% in line with the US counterpart NASDAQ Composite which ended higher in overnight trade. Consumer discretionary and industrial sector also saw some buying.

The top loser on the ASX pack was financial software business Iress (ASX: IRE), which dropped 10.9%. Some of the other worst performers were coal miner Whitehaven Coal (ASX:WHC), iron miners Fortescue Metals (ASX:FMG) and Mineral Resources (ASX:MIN) as well as gold miner St Barbara (ASX: SBM).

Meanwhile, online retailer Redbubble (ASX: RBL) topped the gainer’s chart by rising 4.5%. Some of the other notable gainers were corporate bookmaker PointsBet Holdings (ASX: PBH), child care operator G8 Education Limited (ASX: GEM), buy now, pay later major Afterpay Limited (ASX: APT) and English bank Virgin Money UK PLC (ASX:VUK).

17^th Sep 12:32 PM AEST

Aussie gold stocks slide on weaker bullion prices

Australian gold stocks AXGD down as much as 4.3% as bullion prices headed for their second weekly loss on a firmer dollar.

Heavyweight Newcrest Mining Limited (ASX:NCM) also declined as much as 4.3% to hit lowest since 9 March 2021, while Northern Star Resources Limited (ASX:NST) shed upto 5.4%.

Gold miner SSR Mining Inc (ASX:SSR), one of the top losers, down about 8% to post its biggest one-day pct loss since November 2020.

The sub-index eyes its worst session since 28 April 2021.

AXGD has lost 13.7% this year, as of last close vs a 13.3% increase in the broader benchmark ASX 200 index AXJO.

17^th Sep 12:13 PM AEST

Medibank (ASX:MPL) announces retirement of Board Directors

Leading health insurance provider Medibank Private Limited (ASX:MPL) announced that non-executive directors Christine O’Reilly and Peter Hodgett will be retiring from the Board at the conclusion of the Annual General Meeting on 18 November 2021. The announcement revealed that the duo had chosen not to stand for re-election.

The Board has now started the process to replace the two directors.

Meanwhile, the shares of Medibank are trading at AU$3.555 per share at 11.15 AM AEST, indicating a low of 0.141% compared to the previous close.

17^th Sep 11:40 AM AEST

Avira (ASX:AVW) raises A$1,375K for better exploration activities

ASX-listed gold and tin exploration company Avira Resources Limited (ASX:AVW) shared today that it has received firm commitments to place up to 343,750,000 fully paid ordinary shares priced at AU$0.004 per share to raise AU$1,375,000 before costs.

As per the announcement, participants of the placement will receive a one for one free attaching listed AVWO option exercisable at AU$0.01 on or before 10 July 2022. The placement price portrays a 20% discount to the 15-day VWAP of AVW shares as of 16 September 2021.

AVW has shared that, funds raised through the placement will be used to progress the exploration activities on project generation activities and general working capital purposes for Paterson Range and Wyloo projects.

Meanwhile, on the ASX, the AVW stock was spotted trading 9.091% lower at AU$0.005 per share at 10:15 AM AEST.

17^th Sep 11:39 AM AEST

Eastern Iron (ASX:EFE) trades 12% higher today. Here’s why

ASX-listed Australian based exploration Company Eastern Iron Limited (ASX:EFE) announced that Yahua will make a strategic investment of around AU$1.05 million in the Company. Besides, the Company has received commitments from investors for additional investment of approximately AU$2.52 million for a total capital raising of approximately AU$3.57 million before costs.

The Company stated that the Placement will be undertaken in two traches.

Eastern Iron maintained that the placement will provide the Company with further funding to expedite the progress of existing projects.

The share price of the stock EFE was 12.903% up at AU$0.035 per share at 11:20 AM AEST on the ASX.

17^th Sep 11:14 AM AEST

Decmil (ASX:DCG) wins A$88.7M contract for Barwon Heads Project

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The ASX-listed construction company Decmil Group Limited (ASX:DCG) announced that it has secured the contract of Major Road Projects Victoria (MRPV) for the Barwon Heads Road Upgrade - Work Package 1, between Settlement Road and Barwarre Road.

The contract is worth AU$88.7 million, as revealed by DCG.

DCG also stated that the scope of Work Package 1 includes the construction of a new two-lane carriageway, reconstruction, realignment, rehabilitation and upgrade of the existing carriageway, upgrade of two signalised intersections, and two new signalised intersections.

The announcement has also revealed that Decmil will be further responsible for constructing a new four-lane bridge over Waurn Ponds Creek and a cantilever structure to provide a shared-use path adjacent to wetlands.

The Work Package 1 contract will begin immediately and is anticipated to be finalised by 2023.

Meanwhile, on the ASX, the DCG stock opened 4.929% higher at AU$0.372 per share at 10:06 AM AEST.

17^th Sep 10:52 AM AEST

Air New Zealand (ASX:AIZ) requests additional loan drawdowns amidst lockdowns

Passenger and Cargo carrier Air New Zealand (ASX:AIZ) has shared an update on the impact of national lockdown in New Zealand and the ongoing suspension of trans-Tasman Quarantine Free Travel (QFT). The travel restrictions have affected AIZ’s short term financial performance and liquidity.

AIZ’s earnings guidance was suspended on 26 August 2021 due to uncertainty of nationwide level 4 alert in New Zealand and the duration of trans-Tasman QFT suspension. After a month of constrained trading, AIZ is still unclear on how long these travel restrictions will continue. This has made it difficult for AIZ to determine demand recovery when restrictions are lifted.

AIZ has begun to draw more from its Crown standby loan facility. It has also recently requested additional drawdowns on the same, making the total drawing NZ$435 million. The remaining available funds under the loan are NZ$1.065 billion.

AIZ shares opened in red on ASX, trading at AU$1.49 per share at 10:09 AM AEST.

17^th Sep 10:38 AM AEST

ASX 200 falls at opening as mining stocks give up; FMG, CHN, BHP lead losses

The Australian share market opened lower on Friday as the country’s frontline mining stocks have taken a hit due to weaker gold and copper prices. The ASX 200 was trading with a cut of 16.9 points or 0.23% at 7,443.3 in the opening session

Coming to the market breadth, eight out of the 11 sectors are trading in the red. The Metals and Mining sector is falling the most, shedding almost 1%, followed by a 0.95% loss in the Consumer Discretionary space. The IT sector is the best performing sector so far with a 0.87% gain.

Financial software company, Iress Limited (ASX:IRE) said, EQT was not able to finalise a takeover deal valuing Iress at AU$15.91 per share. EQT’s chairman of Asia-Pacific, Thomas Von Koch, said they were not able to sufficiently confirm their investment hypothesis.

Swift Media (ASX:SW1), a diversified telecommunications and content solutions provider has appointed Brian Mangano as its new chief executive, replacing Pippa Leary. According to the management, it makes sense to have a Western Australia-based chief executive to transition to servicing the mining industry.

17^th Sep 10:37 AM AEST

Moody upgrades Angola’s credit rating: Minbos (ASX:MNB)

Australian exploration Company Minbos Resources Limited (ASX:MNB) announced on Friday that Moody’s has raised its region - Angola’s credit rating for the first time, based on improved governance and debt metrics.

In a statement from Moody’s, they cited stronger governance, in particular, the quality of Angola’s executive and legislative institutions, as indicated in various aspects of their credit profile.

Backed by this news, Angola’s Eurobonds increased drastically after the rerating from Caa1, the first time the risk assessment firm has increased the rating since its initial assessment in 2015.

Meanwhile, Minbos has welcomed the news of the rerating and said that this has strengthened the Company’s view that Angola remains one of the most prospective regions globally for business development and new opportunities in a range of agriculture and industrial sectors.

The exploration and development Company envisages to build a nutrient supply and distribution business that promotes food security in Angola and the broader Middle Africa Region.

MNB stock was spotted trading 3.33% down at AU$0.145 per share at 10:30 AM AEST.

17^th Sep 10:32 AM AEST

CIMIC’s (ASX:CIM) CPB wins Western Sydney Airport contract worth A$265M

CIMIC Group’s (ASX:CIM) company CPB Contractors, with its joint venture partner Acciona, has been selected to deliver the Western Sydney International (Nancy-Bird Walton) Airport’s airside civil and pavement works.

The design and construct contract will generate revenue of approximately AU$265 million to CPB Contractors.

This is the third project awarded by Western Sydney Airport to the joint venture, following the earlier award of two earthworks packages.

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The release stated the scope of works includes airside services and utilities, including aircraft pavements (runway and taxiways), aircraft isolation pad, airside roads, landscaping and aeronautical ground lighting system (including associated sub-station buildings) and other specialist systems.

The construction will take two years.

Western Sydney International Airport is due to open in late 2026.

The stock CIM opened the ASX trade in green and traded at AU20.410 per share at 10:20 AM AEST.

17^th Sep 10:17 AM AEST

intelliHR (ASX:IHR) completes A$11.5 million placement

The ASX-listed SaaS provider company intelliHR Limited (ASX:IHR) announced on Friday that it has completed an AU$11.5 million placement at AU$0.23 per share before offer costs.

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IHR’s offer has received strong interest and was supported by several leading Australian and offshore investors. Additionally, another AU$1.5 million placement was issued by the Company’s Joint-Lead Managers.

The raised fund will be used in:

The expansion of intelliHR’s global integrations and referral partnership channels.
The acceleration of growth in domestic and global customer business development.
The building out enterprise customer platform capabilities, advanced AI analytics, eco-system engineering capacity, and working capital.

Meanwhile, on the ASX, the IHR stock traded last at AU$0.290 per share.

17^th Sep 10:08 AM AEST

EQT forsakes Iress (ASX:IRE) bid

Financial services focused Technology firm Iress Limited (ASX:IRE) shared that it has concluded discussions with private equity suitor EQT on the indicative proposal for a binding offer.

As previously announced, IRE had agreed to extend EQT due diligence for ten more days and provide extending exclusivity arrangements as of 11 August 2021. However, both IRE and EQT have been unable to agree upon a transaction. As a result, the deed, incorporating exclusivity terms, between IRE and EQT has been terminated.

IRE had earlier advised shareholders on the uncertainty of EQT’s proposal for a formal takeover offer.

Nevertheless, the IRE board calls the termination of the deed a step in the best interest of shareholders.

IRE has further added that the deed termination with EQT will not impact its strategy to accelerate growth and returns to shareholders.

Meanwhile, EQT confirmed that Iress has an impressive, technology-focused business with a strong market share and a loyal customer base. It also mentioned that it had not come across any red flags during the due diligence. However, EQT was unable to sufficiently confirm its investment hypothesis on IRE. As a result, IRE shall now commence its on-market buy-back as announced back in July 2021.

IRE shares last traded at AU$13.530 per share on the ASX.

17^th Sep 10:07 AM AEST

17^th Sep 09:39 AM AEST

ASX set to open lower after Wall Street's mixed closing

The Australian share market is expected to end the week on a weak note following a mixed night on Wall Street despite a positive US economic data. The domestic market may also trade lower, dragged by mining stocks that are likely to drop due to weaker gold and copper prices. The ASX 200 may open 14 points or 0.2% lower on Friday after rising 0.6% to 7,460.2 points in the previous session.

Carsales.Com Ltd, Fletcher Building Ltd, Pinnacle Investment Management Group Ltd, and Tabcorp Holdings Ltd are a few shares going ex-dividend on Friday.

On Wall Street, the Dow Jones fell 0.2%, the S&P 500 dropped 0.15%, and the NASDAQ rose 0.1%. The three major indexes spent much of the day in negative territory as rising US Treasury yields pressured market-leading tech stocks, and the rising dollar weighed on exporters.

International investors who have been piling into China in recent years are now bracing for one of its great falls due to troubles of over-indebted property giant China Evergrande.

On the other hand, retail sales rose in US in August, indicating economic recovery is strengthening on positive trends in consumer spending. But markets remain focused on next week's Federal Reserve meeting for clues as to when the US central bank will start to taper stimulus, especially after the flurry of US economic data out this week. Markets remain focused on next week's Federal Reserve meeting.

The yield on 10-year Treasury notes was up 2.9 basis points at 1.333% following strong retail sales data in US.

The dollar index rose 0.441%.