Live ASX News Today
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1st Oct 08:33 PM AEST
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1st Oct 05:53 PM AEST
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1st Oct 05:44 PM AEST
ICar Asia (ASX:ICQ) gets a ‘slightly lower’ acquisition offer from Carsome. Here’s why
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ASX-listed Australia-based company engaged in the development and operation of Internet-based automotive portals iCar Asia Limited (ASX:ICQ) shared today that Carsome would acquire all of the ordinary shares of iCar (that Carsome and its partners do not currently own) for AU$0.55 cash per share by way of a revised Proposal.
This was in reference to the indicative non-binding proposal from Carsome announced on 13 July 2021 and the ASX announcement dated 16 September 2021 concerning the extension of the Exclusivity Period under the Process Deed with Carsome.
The announcement stated that Carsome has revised its offer price between AU$0.53 to AU$0.54 in cash per share.
The stock ICQ was spotted trading at AU$0.485, up 1.041% at 2.00 PM AEST.
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1st Oct 05:43 PM AEST
ABx Group (ASX:ABX) to launch SPP to aid Rare Earth Element program
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The ASX-listed Bauxite exploration group ABx Group (ASX:ABX) announced that the Company’s shareholders have the opportunity to participate in a Share Purchase Plan to raise up to AU$500,000 at the same price as the Placement made in July 2021.
ABX disclosed that the offer price will be 10 cents per share. Shareholders would be allowed to purchase shares totaling up to AU$30,000. Shareholders will also get the chance to apply for one Free-Attaching Option for every share applied for by them under the SPP Offer.
The funds raised from the SPP will be used to support ABx Group’s Rare Earth Element program.
Meanwhile, on the ASX, the ABX stock closed 8.696% lower at AU$0.105 per share today. -
1st Oct 05:40 PM AEST
Marquee (ASX:MQR) to commence DGPR exploration at the West Spargoville Project
ASX-listed mineral exploration company Marquee Resources Limited (ASX:MQR) shared an update on its planned exploration works scheduled to be conducted on the West Spargoville Project.
MQR shared that after recent drilling and geological review of the West Spargoville Project, the existence of significant lithium-bearing LCT Pegmatites within the Project area.
The Company has now embarked on a joint geophysical and geochemical exploration strategy to delineate mineralised LCT pegmatites for follow-up drill testing. By combining next-gen geophysical techniques, in the form of Deep Ground Penetrating Radar, with methodical geochemical sampling and mapping, MQR will efficiently and cost-effectively gain significant knowledge of the lithium mineralisation potential West Spargoville Project.
Meanwhile, on the ASX, the MQR stock closed 5.480% lower at AU$0.069 per share today.
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1st Oct 05:40 PM AEST
Magnis (ASX:MNS) secures air permit for New York battery plant; shares gain
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The ASX-listed graphite and battery developer Magnis Energy Technologies Limited (ASX:MNS) announced that iM3NY has received its Air Permit. It was a significant milestone for near-term production at the iM3NY Battery Plant in Endicott, New York. In addition, Magnis revealed that it is the major shareholder of the project.
MNS informed that the Air Permit was officially granted by the New York State Department of Environmental Conservation. However, along with granting the Air Permit and the Environmental Justice Plan, the Aquifer Permit is yet to be issued and is expected to be granted in October.
Meanwhile, on the ASX, the MNS stock closed up 4.838% at AU$0.325 per share today.
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1st Oct 05:38 PM AEST
Here’s why AssetOwl (ASX:AO1) ended 20% higher today
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ASX-listed software and service company AssetOwl Limited (ASX:AO1) shared that the Company has signed 11 new real estate agents to its Pirsee platform within two months of releasing its new exit inspection workflow.
The Company reported that currently, there are 25 agencies licensed to use AO1’s Pirsee inspection management software, including two Victorian customers. The new licensee agencies are all on the Company’s standard licence terms.
Additionally, AssetOwl also shared that four early-stage Pirsee customers have already moved through the cycle from free trial and data migration to paying customers: AO1’s Pirsee is now integrated into their daily operation and the monthly payment cycle.
Meanwhile, on the ASX, the AO1 stock closed 20% higher at AU$0.006 per share today.
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1st Oct 05:15 PM AEST
Evolution (ASX:EVN) secures government approval for the Cowal project
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Evolution Mining Limited (ASX:EVN) shared today that its Cowal Gold Operation near West Wyalong in NSW has been given regulatory approval to develop the underground mine by the NSW Department of Planning, Industry & Environment. The Company’s permit to operate was further extended up to 2040.
The announcement has stated that the underground mine is a crucial contributor to EVN’s goal of safely and reliably producing over 350,000 ounces of gold per annum from Cowal with a new higher-grade underground ore source to blend with ore from the E42 open pit.
Additionally, an AU$380 million investment in the underground mine delivers economic benefits to the Central West NSW region. It generates approximately 160 new jobs during the peak of the construction phase and approximately 230 new long term jobs created when the mine is in entire operation.
Meanwhile, on the ASX, EVN stock closed 2.292% higher at AU$3.570 per share today.
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1st Oct 05:15 PM AEST
Dimerix (ASX:DXB) closes SPP oversubscribed, ends higher on ASX
The ASX-listed healthcare company Dimerix Limited (ASX:DXB) announced that it has completed its Share Purchase Plan at 5.00 PM AEST on Tuesday, 28 September 2021.
DXB shared that it has received multiple more applications from eligible shareholders than the targetted amount of AU$2 million under the SPP.
Therefore, the Dimerix Board has decided to accept AU$4 million in the SPP due to the oversubscriptions. The Company will conduct a scale-back of applications following the terms of the SPP.
Meanwhile, on the ASX, the DXB stock closed 3.33% higher at AU$0.310 per share today.
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1st Oct 05:05 PM AEST
Brightstar (ASX:BTR) completes A$2.3M placement to support operations
The ASX-listed gold exploration company Brightstar Resources Limited (ASX:BTR) announced that it has received firm commitments from investors to subscribe for a placement of approximately 87 million fully paid ordinary shares in the Company.
The Company will issue the shares at AU$0.027 per share to raise a fund worth AU$2.3 million. BTR aims to continue its exploration activities at Laverton Gold Project with the raised fund and existing company cash reserves.
Meanwhile, BTR stock closed at AU$0.033 per share today.
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1st Oct 04:57 PM AEST
Bank, miners drag ASX 2% lower; all big four banks fall
After muted performance in September, the Australian shares market started the month of October on bearish note, slipped over four-months low on Friday. Interest rate sensitive stocks such as financials, real estate were among the worst performers amid looming fear that rising inflation may prompt US Federal Reserve to announce its first pandemic-era interest rate hike.
The market sentiment was also dented by uncertainty surrounding crisis-hit China Evergrande and the end of ultra-supportive economic stimulus.
The Aussie benchmark index, the ASX 200, closed 146.70 points or 2% lower at 7,185.50. The index opened lower today and nosedived as much as 2.4% to 7,157.90 points, crossing below its 125-day moving average. The ASX 200 witnessed highly volatile trade this week, falling 2.14% over the last five sessions.
Moving on to the sectoral front, all of the 11 sectors ended in negative terrain, led by a 2.9% decline in financial stocks. In banking sector, all the Australia’s big four lenders - Commonwealth Bank of Australia (ASX:CBA), Australia and New Zealand Banking Group Limited (ASX:ANZ), Westpac Banking Corporation (ASX:WBC) and National Australia Bank Limited (ASX:NAB) – ended lower.
The financial sector was followed by A-REIT and consumer discretionary, which closed 2.4% lower. Material and health care sectors settled with over 1.5% loss, while industrial, energy, telecom, consumer staples and tech dropped over 1%.
English bank Virgin Money UK (ASX:VUK) topped the ASX’s losers chart by falling 7.9%. Some of other worst performers were mining company Mineral Resources (ASX:MIN), financial services firm HUB24 (ASX: HUB), pizza chain operator Domino's Pizza Enterprises (ASX: DMP) and plumbing, waterworks business Reece (ASX: REH).
On the flip side, gold mining stocks Silver Lake Resources (ASX: SLR), Gold Road Resources (ASX: GOR) and Northern Star Resources (ASX:NST) were among top gainers on the ASX. Investors rushed towards the traditional safe-haven asset, gold, as other industries tumbled amid global economic uncertainty.
Some of the other notable gainers were Australia’s largest independent coal miner Whitehaven Coal (ASX: WHC) and wealth management company AMP (ASX: AMP).
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1st Oct 04:45 PM AEST
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1st Oct 04:37 PM AEST
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1st Oct 04:05 PM AEST
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1st Oct 03:17 PM AEST
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1st Oct 02:07 PM AEST
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1st Oct 01:41 PM AEST
US natural gas futures hit seven-year highs
Rising gas price | Source: © Krisdog | Megapixl.com
The prices of US natural gas futures surged more than 7% to reach a seven-year high level due to scarcity of gas in Europe for the winter heating season. The market deficit in Europe has pumped the US gas supplies to record high levels, boosting prices.
The gas prices in the US rose significantly despite weeks of mind weather conditions that allowed utilities to store more gas as stockpiles than usual for this time of year.
With gas prices hovering near record-high levels in Europe at US$32per mmBtu, US$6 in the United States, and US$30 in Asia, the buyers across the globe are ready to purchase all LNG produced in the US.
Even after significant reductions in the plants during September, the amount of gas transported to US LNG export plants has tumbled to an average of 10.4 billion cubic feet per day in the current month from 10.5 bcfd in August.
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1st Oct 01:25 PM AEST
iCollege (ASX:ICT) secures over 92% interest in RedHill Education (ASX:RDH)
The ASX-listed consumer service company iCollege Limited (ASX:ICT) announced today that it now holds a 92.44% relevant investment in RedHill Education Limited (ASX:RDH) shares.
As ICT’s interest exceeds 90%, the Company now intends to acquire the remaining RedHill shares under section 661B of the Corporations Act.
Meanwhile, on the ASX, the ICT stock was spotted trading 3.847% lower at AU$ 0.125 per share at 11:39 AM AEST.
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1st Oct 12:58 PM AEST
Here’s why Chalice Mining (ASX:CHN) is in news today
ASX-listed mineral exploration company Chalice Mining Limited (ASX:CHN) shared that the Company’s long-serving Chairman and founder, Tim Goyder has decided to retire from the Board at the upcoming Annual General Meeting in November 2021.
However, Goyder has agreed to continue to consult with the Company in a part-time advisory capacity until the end of June 2022. This would ensure that the Company continues to have the benefit of its input.
Followed by the retirement news, Chalice has announced the appointment of Derek La Ferla as an Independent Non-Executive Director, effective from 1 October 2021. However, Feria’s appointment is subjected to re-election which he will seek in the upcoming general meeting.
Meanwhile, on the ASX, the CHN stock was spotted trading 4.539% lower at AU$6.100 per share at 12:30 PM AEST.
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1st Oct 12:53 PM AEST
ASX tanks over 2% on China fears; investors bet on gold stocks
The Australian shares have extended their losses in mid-session trading as concerns about China's looming economic crisis as well as rising COVID-19 cases in the country triggered a sharp correction in equity market. The market witnessed absolute carnage as investor sentiments were spooked by concerns about rising inflation and the uncertainty surrounding debt-ridden Chinese real estate giant Evergrande. The announcements from the US' Federal Reserve that economic stimulus provided during the pandemic also added negativity in the market.
The benchmark index, the ASX 200, nosedived 151.40 points or 2.06% to 7,180.80, by lunch. The index opened lower today and declined as much as 2.3% to hit a low of 7,160.80 points during the day’s trade so far.
In the overnight trade, Wall Street suffered its worst day since March as the Delta virus threat painted a gloomy picture for the economy, which kept investors away from risky bets. The S&P 500 fell 1.19%, while the Dow Jones dropped 1.59%. The NASDAQ Composite Index ended 0.44% lower.
Back home, on the sectoral front, all the 11 sectoral indices were bleeding in red. The financial sector was the worst performer with a 3% loss, with all major four banks trading in red. The financial sector was followed by A-REIT and consumer discretionary, which fell over 2% each.
Among others, material, health care, industrial, energy, telecom, tech sectors also saw surge in selling.
The top loser on the ASX pack was Australia’s largest pizza chain Domino's Pizza Enterprises (ASX: DMP) with a 6% loss. Some of the other worst performers were English bank Virgin Money UK (ASX:VUK), plumbing, waterworks business Reece (ASX: REH), miner Mineral Resources (ASX:MIN) and financial services firm HUB24 (ASX: HUB).
On the gaining side, gold miner Silver Lake Resources (ASX: SLR) was the top performer with a 3.5% gain. Gold stocks dominated the gainers’ chart with likes of Northern Star Resources (ASX:NST), Evolution Mining (ASX:EVN) and St Barbara Limited (ASX:SBM), as investors shifted to safer assets like gold amid economic uncertainty. Australia’s largest independent coal miner Whitehaven Coal (ASX: WHC) was also among top five gains.
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1st Oct 12:18 PM AEST
Galena (ASX:G1A) secures two crucial contracts for the development of Abra
ASX-listed mining company Galena Mining Limited (ASX:G1A) announced that Abra Mining Pty Limited, the joint-venture company for the Abra Base Metals Project has secured two key contracts for the development of Abra.
These new contracts support the transportation and export of its high-grade lead-silver concentrate from Abra through the Geraldton Port.
The agreements are:
- Port Access Agreement- According to the terms of the Port Access Agreement, AMPL has the right to export up to 140,000 tonnes of mineral concentrates per year through the common user facilities at the Geraldton Port for an initial period of ten years.
- Export Logistics Agreement- According to the terms of the Export Logistics Agreement, Qube is expected to provide equipment and experts to take over the loading, transportation, storage and stevedoring of Abra’s mineral concentrates using their Rotabox system.
Meanwhile, on the ASX, the G1A stock was spotted trading at AU$0.200 per share at 10:54 AM AEST.
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1st Oct 12:04 PM AEST
Crude oil steadies on China’s plan to buy more oil
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Crude oil prices traded nearly flat on Thursday as China plans to buy more oil to meet its rising energy demand, offsetting a drop in oil prices from an unexpected rise in US crude oil inventories. December delivery Brent Crude oil futures last traded at US$78.83 per barrel up 0.46%, whereas November delivery WTI crude oil futures traded 0.63% up at US$75.50 per barrel as of 01 October 2021 at 10:33 AM AEST. The prices of both the benchmarks tumbled by nearly US$1 per barrel a day earlier.
Meanwhile, British petrol pumps still seeing unprecedented demand with more than 25% of fuel pumps running dry due to the ongoing fuel crisis.
Oil prices have also been weighted by property market concerns of China that have hit the sentiments as the spill out of Evergrande's financial crisis on the world's second-biggest economy is likely to affect demand for crude oil.
Additionally, an ongoing power crisis in the country due to the limited use of coal for generating electricity through coal-fed power plants has also dampened the oil demand.
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1st Oct 11:51 AM AEST
Jadar (ASX:JDR) starts field work at Shaw River Project, shares gain on ASX
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Australia-based minerals exploration and development company Jadar Resources Limited (ASX:JDR) revealed via an announcement that it has mobilised a geology team to the Shaw River Project to commence reconnaissance geological mapping and sampling. This is done with an aim to determine the extent of pegmatite outcrop and lithium, tin and tantalum potential for project due diligence.
The Company stated that it intends to define targets for immediate drill testing once the Shaw River exploration licence is granted.
Recently, Jadar had announced an agreement to acquire 80% of the Shaw River Project in the East Pilbara region of Western Australia from Calatos Pty Ltd.
The Company informed that the Shaw Project, consists of an exploration license application involving 22 blocks. The area has a rich history with successful mining of alluvial tin and tantalum as part of the Shaw River Tin Field and indicated potential for lithium and rare earth minerals. The Shaw River Project complements Jadar’s existing lithium assets located in Austria which are being collaboratively developed with European Lithium Limited (ASX:EUR), and Jadar’s 22% interest in BMM.
Meanwhile, the stock JDR was spotted trading over 6% higher at AU$0.034 per share at 11:00 AM AEST.
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1st Oct 11:33 AM AEST
Adbri (ASX:ABC) acquires Victorian sand quarries in Joint venture with Barro
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ASX-listed supplier of construction materials Adbri Limited (ASX:ABC) announced on Friday that it has signed an agreement to acquire the sand operations of Metro Quarry Group (MQG) in a 50/50 joint venture with Barro Group.
The Company stated that MQG operates two quarries south east of Melbourne at Lang Lang and Nyora, supplying the local and Melbourne markets with natural sand. It is estimated that the two quarries have in excess of 50 million tonnes of reserves.
According to the announcement, Adbri will initially inject circa AU$30 million into the newly established joint venture entity to fund its share of the purchase and working capital.
The transaction is slated to complete in November 2021.
Meanwhile, the stock ABC was spotted trading 2.7% lower at AU$3.140 per share at 11.00 AM AEST.
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1st Oct 11:26 AM AEST
Nickel Mine’s (ASX:NIC) Angel Nickel Project ownership increases to 80%
ASX-listed mining company Nickel Mines Limited (ASX:NIC) announced on Friday that the Company has completed the acquisition of a further 30% interest in Angel Capital Private Limited. This suggests that the total ownership has reached to 80%.
Angel Capital is a Singaporean holding company and wholly owns the Angel Nickel Project which is currently under construction within the Indonesia Weda Bay Industrial Park.
Key highlights:
- NIC shared that its nameplate nickel production would increase by double post-commissioning in 2022.
- The Company holds a construction cost guarantee, removing capital expenditure risk.
- The construction has been well advanced and kept on schedule for commissioning in the second half of 2022.
- Nickel Mines will take control over RKEF operations in two of the world’s leading nickel production centres.
Meanwhile, on the ASX, the NIC stock was spotted trading a tad bit lower at AU$0.935 per share at 10:36 AM AEST.
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1st Oct 11:22 AM AEST
ASX 200 plummets at the open on negative cues from Wall Street
On the last day of the week, the Australian share market plunged at the opening tick, following a weak closing on Wall Street. Copper miners are dragging the index further as copper prices tumbled overnight due to power constraints in China and a stronger US dollar. The ASX 200 plummeted 46 points or 0.63% to 7,286.2 in the opening session.
By 10: 30 AM AEST, the ASX 200 nosedived 124.6 points or 1.7% to 7,207.6, depicting sizable losses. The ASX All Ordinaries index also plunged a worrying 132.5 points or 1.74% to 7,497.2.
The top ASX 200 laggards dragging the market were Virgin Money UK PLC (ASX:VUK) and Unibail-Rodamco-Westfield (ASX:URW), both losing 5.2% and 4.31%, respectively. On the flip side, top stocks trying to go against the grain in the early session were Evolution Mining Limited (ASX:EVN) and St Barbara Limited (ASX:SBM), both gaining 2.15% and 2.05%, respectively.
Coming to the market breadth, to not much of a surprise looking at deep cuts in the broader indices, all 11 sectors are trading in red.
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1st Oct 11:21 AM AEST
Aeeris (ASX:AER) to raise A$1.5M to accelerate revenue growth
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ASX-listed geospatial data business firm Aeeris Limited (ASX:AER) announced today that it has received binding commitments from investors to successfully raise gross proceeds of AU$1.5 million via Placement.
The announcement revealed that the Placement was underpinned by existing shareholders with leading micro and nano cap specialist DMX Asset Management. DMX will become a substantial shareholder after completion of the Placement.
Aeeris stated that funds generated will enable the Company to increase Research and Development capacity and expand into New Data feeds including flood, spatial risk analyser and for a Climate Risk Platform upgrade.
The announcement added that the Placement will result in the issue of 11,610,000 fully paid ordinary shares in the Company at AU$0.13 per New Share to raise total proceeds of AU$1,509,300.
The stock AER was spotted trading at AU$0.150 per share on ASX at 11.03 AM AEST.
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1st Oct 10:49 AM AEST
Credit Intelligence (ASX:CI1) officially launches BNPL in Hong Kong
ASX-listed commercial and professional service provider Credit Intelligence Limited (ASX:CI1) announced that it has officially launched its personal BNPL service in Hong Kong on 1 October 2021.
Credit has launched an online shopping platform- www.ekbuy.com.hk and will initially focus on the local market in Hong Kong. The platform would cover a wide range of consumer products including home appliances, electronic products, wine, food and beverages, premium imported fresh products to capture the opportunity in changing consumer behavior in the personal BNPL sector since the outbreak of COVID 19 crisis.
Why CI1, PLY, PME, CIM, MOZ on investors radar today?
CI1 shared that apart from bringing in the trading profit and BNPL service fee, the platform will also enhance its overall value. Besides, it will build a larger consumer data case and improve the Gross Merchandise Value.
Meanwhile, on the ASX, the CI1 opened up strong gaining 13.793% at AU$0.016 per share at 10:25 AM AEST.
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1st Oct 10:41 AM AEST
Mosaic Brands (ASX:MOZ) to buy remaining stakes in EziBuy
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ASX-listed Australian Company which operates as a women's fashion retailer Mosaic brands Limited (ASX:MOZ) revealed via an announcement that it has exercised its option to purchase the remaining 49.9% of online fashion retailer EziBuy.
According to the announcement, MOZ purchased a 50.1% stake in New Zealand e-commerce operation EziBuy late in 2019 for just AU$1. The Company informed that its consistent efforts to grow the business have paid because in just 18 months it has delivered an EBITDA of AU$3.7 million for FY21.
Why CI1, PLY, PME, CIM, MOZ on investors radar today?
The full purchase of EziBuy will close to double the Group’s annual online sales to AU$218 million. Excluding EziBuy, Group sales for the last financial year contributed 19% of revenue, combined this will grow to approx. 30% of total group revenue.
The stock MOZ opened its ASX trade a tad lower at AU$0.570 per share today.
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1st Oct 10:37 AM AEST
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1st Oct 10:15 AM AEST
CIMIC’s UGL wins AU$297M Locomotive Manufacturing Contract
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ASX-listed Australian multinational contractor CIMIC Group contractor (ASX:CIM) announced on Friday that CIMIC Group’s UGL has been awarded a contract to design, manufacture and supply new fuel-efficient diesel electric locomotives for long-standing client, Pacific National.
The Group which is a provider of engineering and construction services informed that the contract will generate revenue to UGL of approximately AU$297 million over seven years and solidifies UGL’s position as Australia’s only manufacturer of freight locomotives.
Why CI1, PLY, PME, CIM, MOZ on investors radar today?
The announcement revealed that the C44 Evolution locomotives will be the most technologically advanced, fuel efficient, and environmentally compatible diesel electric locomotives in Australia and will be designed and manufactured in Newcastle, New South Wales.
UGL which was an engineering Company was purchased by CIM in the year 2016.
The Company stated that the contract is effective from October 2021.
The stock CIM last closed at AU$19.660 per share on the ASX.
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1st Oct 10:15 AM AEST
Pro Medicus (ASX:PME) signs A$40M contract with Novant Health
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Health informatics company Pro Medicus Limited (ASX:PME), through its 100% US subsidiary, Visage Imaging, Inc., has signed AU$40 million, contract with Novant Health, Inc.
Key contract details-
- PME has signed a 7-year contract for AU$40 million, with Novant Health.
- The contract includes Visage 7 Workflow module being set up at Novant Health.
- PME subsidiary, Visage will replace legacy imaging solutions suite PACS.
Why CI1, PLY, PME, CIM, MOZ on investors radar today?
- The contract includes Visage 7 Workflow module being set up at Novant.
- Visage 7 will provide a unified diagnostic imaging platform, on a transactional licensing model.
- The Visage 7 implementation will be fully deployed on Microsoft Azure cloud.
- The deal extends PME’s rapidly increasing presence in the North American, Integrated delivery network (IDN) market.
- The deal is based on a transaction-based licence model having a potential upside possibility.
Planning for the rollout shall start immediately. The initial go-live target is for second half of financial year.
PME shares traded last at AU$54.61 per share on the ASX.
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1st Oct 09:44 AM AEST
Australian shares to fall after sell-off on Wall Street
Australian shares are expected to give away most of the previous session’s gains to open the day lower on the last day of the week. According to the latest SPI futures, the ASX 200 is expected to open 119 points or 1.6% lower on Friday, taking cues from an overnight sell-off on Wall Street.
The local copper miners are likely to weigh further on domestic shares as prices fell due to a stronger US dollar and power constraints in China. On Thursday, the domestic benchmark index climbed 1.9% to 7,332.2 points.
A number of Australian companies will be paying their latest dividends to shareholders on Friday. Monadelphous Group Ltd, Origin Energy Ltd, Pro Medicus Ltd, and Treasury Wine Estates Ltd are some of the major names.
On Wall Street, the Dow Jones sank 1.6%, the S&P 500 fell 1.2%, and the NASDAQ dropped 0.45%.
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1st Oct 09:01 AM AEST