Live ASX News Today
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2nd Nov 09:14 PM AEDT
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2nd Nov 09:10 PM AEDT
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2nd Nov 08:23 PM AEDT
Boss Energy (ASX:BOE) to start exploration at Honeymoon Uranium Project
Image Source: Pexels
ASX-listed Australian-based mineral exploration Company Boss Energy (ASX:BOE) announced on Tuesday that the Company is about to start exploration drilling at its Honeymoon Uranium Project in South Australia.
The drilling is believed to be a part of the Company's strategy to continue growing the inventory and forecast production rate. In addition, the drilling program will test highly encouraging targets recognised by the recently-concluded geophysical programs using seismic reflection surveys.
The Company revealed that the survey results could create significant value for shareholders because they allow better targeting of exploration drilling, which opens the door to increasing production rates over the life of the mine and the mine life, in turn growing the project's NPV and free cash flow.
BOE closed 3.449% lower at AU$O.280 per share on ASX.
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2nd Nov 08:22 PM AEDT
Why Tymlez (ASX:TYM) closed over 52% higher on ASX today
ASX-listed Company which operates as a Software Development Company Tymlez Group Limited (ASX:TYM) announced on Tuesday the appointment of two new independent, non-executive directors Jason Conroy and Luca Febbraio, effective 1 November 2021.
The Company revealed that Jason is a highly experienced executive and non-executive director with more than 30 years’ international experience in the energy, infrastructure, and renewables sectors. He has a strong track record for creating value through corporate finance, restructuring, transformation, and mergers and acquisitions.
Besides, according to the announcement Luca has more than 25 years’ international experience in corporate and business development, in the energy and infrastructure sectors.
Today, the shares of the Company jumped as high as 52.941% and the stock closed at AU$0.026 per share on ASX.
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2nd Nov 08:05 PM AEDT
HT&E (ASX:HT1) disposes of shareholding in OML
Media and Entertainment firm HT&E Limited (ASX:HT1) announced today that it has disposed of its entire shareholding in oOh!media Limited (ASX:OML) for AU$1.78 per share, equating to gross proceeds of AU$49 million and a gain of AU$31 million on the initial investment.
The sale again strengthens the Company’s balance sheet after the ATO tax settlement that took place recently.
The stock HT1 closed flat at AU$1.850 per share on the ASX today.
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2nd Nov 08:05 PM AEDT
Beach Energy (ASX:BPT) appoints new acting Chief Executive Officer
ASX-listed Australian oil and gas exploration and production firm Beach Energy Limited (ASX:BPT) announced on Tuesday that Managing Director and Chief Executive Officer Matt Kay has tendered his resignation to the Company’s board. The Company has appointed Morné Engelbrecht – currently serving as Chief Financial Officer as acting Chief Executive Officer, effective immediately while a search process is underway to find a replacement.
The Company has paid tribute to Kay for his leadership in transforming the Company into a strategically diverse business that is well-positioned to deliver material gas production into the tightening Australian East Coast, New Zealand and international LNG markets.
Morné Engelbrecht, a senior executive with 20 years of experience across various jurisdictions, stated that he steps into the role to ensure key growth development projects in the Perth and Otway basins remain on track.
BPT stock closed 3.929% lower at AU$1.345 per share on ASX.
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2nd Nov 08:04 PM AEDT
Spacetalk (ASX:SPA) raises AU$8.0M
Software and services business Spacetalk Ltd. (ASX:SPA), announced that it has received firm commitments for a placement of 42,105,264 ordinary shares raising AU$8.0 million, at an issue price of AU$0.19 per Share.
The placement issue price is a 15.6% discount to the last closing price of Spacetalk’s shares and 12.7% discount to the 5-day volume weighted average price ending on that date.
Meanwhile, the stock SPA closed 2.223% lower at AU$0.220 per share today.
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2nd Nov 06:41 PM AEDT
ASX ends 0.6% lower as RBA hints at faster rate hike; bank stocks fall
The Australian shares ended lower on Tuesday after the country’s central bank signalled that interest rate could be raised sooner-than-expected. In a major shift in policy stance, the Reserve Bank has decided to discontinue one of its key stimulus measures, “yield curve control”, which was introduced in March 2020, following the COVID-19 pandemic outbreak. Investors also turned cautioned ahead of the central bank meetings in the United States and Britain this week.
The benchmark ASX 200 index ended 46.50 points or 0.63% lower at 7,324.30.?The index opened lower today and dropped as much as 0.8% during the session, crossing below its 125-day moving average.??
The market width, indicating the overall strength, was weak as six of 11 sectors ended in red zone, led by material and financial indices. The material sector was the worst perform with a 2.1% loss, owing to fall in commodity prices, especially iron ore.
Material sector was followed by 1.3% loss in financial sector as looming fear about rate hike trigged sell-off in banking stocks. All big four lenders - Westpac Banking Corporation (ASX:WBC), Commonwealth Bank of Australia (ASX:CBA), Australia and New Zealand Banking Group (ASX:ANZ) and National Australia Bank (ASX:NAB) – ended in red. Westpac was the biggest loser among the banking stocks after Morgan Stanley lowered the rating to an equal-weight.
Among others, energy, tech and telecom sectors also ended in negative terrain.
Bucking the bearish trend, A-REIT emerged as top gainer by rising 1.2%. Consumer staples, consumer discretionary, utilities, and health care sectors also settled in green zone with modest gain.
The biggest loser on the ASX pack was Australia’s largest independent coal miner Whitehaven Coal (ASX:WHC), which ended 9.5% lower. Some of the other top laggards were miner IGO (ASX: IGO), iron ore developer Champion Iron (ASX:CIA), insurance company Insurance Australia Group (ASX:IAG), and online retailer Redbubble (ASX:RBL).
On the gaining side, property business Goodman Group (ASX: GMG) was the best performer with a 5.6% gain. Some of other top gainers were real estate firm Charter Hall Group (ASX:CHC), software business Megaport (ASX:MP1), natural gas infrastructure business APA Group (ASX: APA), and international student placement services provider IDP Education (ASX:IEL).
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2nd Nov 05:07 PM AEDT
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2nd Nov 04:22 PM AEDT
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2nd Nov 04:08 PM AEDT
NeuroScientific (ASX:NSB) collaborates with Biospective for EmtinB approval
The ASX-listed healthcare company NeuroScientific Biopharmaceuticals Ltd (ASX:NSB) announced that the Company partnered with specialist contract research organisation Biospective Inc. to approve EmtinB as a treatment to cure Multiple sclerosis.
Key highlights:
- NSB has shared that Biospective specializes in neurology contract research, with expertise in neurodegenerative conditions.
- NSB has also mentioned that Biospective is the industry leader in neurology imaging, providing a wide range of imaging technologies for preclinical and clinical studies.
Meanwhile, on the ASX, the NSB stock was spotted trading 2.941% higher at AU$0.350 per share at 2:57 PM AEDT.
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2nd Nov 03:05 PM AEDT
3D Metalforge completes heat exchanger parts supply to Shell Jurong Island
The ASX-listed additive manufacturing Company 3D Metalforge Limited (ASX:3MF) announced that it has successfully delivered the additively manufactured heat exchanger parts to Shell Jurong Island. Shell Jurong is a dedicated chemicals manufacturing site in Singapore owned by Royal Dutch Shell plc supplied under a one-time agreement with Shell Jurong Island.
3MF was chosen by Shell as its additive manufacturing technologies and processes help to accelerate the required lead time to manufacture heat exchanger tube components. The Company shared that the parts were successfully installed and completed in a record time of two weeks.
Such projects are essential as they validate 3MF’s approach to delivering critical spare parts faster and more cost-effectively to help leading companies reduce equipment downtime.
Meanwhile, on the ASX, the 3MF stock was spotted trading 4.001% lower at AU$0.120 per share at 2:12 PM AEDT.
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2nd Nov 03:01 PM AEDT
Immutep (ASX:IMM) secures a new Chinese patent
The ASX-listed healthcare company Immutep Limited (ASX:IMM) announced that it was granted a new patent entitled ‘Use of recombinant LAG-3 or the derivatives thereof for eliciting a monocyte immune response’ by the Chinese Patent Office.
IMM stated that the patent had formed part of a broad and growing portfolio of patent families for the Company’s lead product candidate, eftilagimod alpha, in key global markets, including China.
This new Chinese patent was followed by the grant of the corresponding European, Japanese, and United States patents announced earlier. IMM has also shared that the patent provides protection in mainland China and the expiry date is 3 October 2028.
Meanwhile, on the ASX, the IMM stock was spotted trading a tad bit higher at AU$0.059 per share at 1:39 PM AEDT.
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2nd Nov 03:01 PM AEDT
RemSense (ASX:REM) stock is 144% higher today. Here’s why
The ASX-listed capital goods company RemSense Technologies Limited (ASX:REM) announced that the Company has appointed the former Woodside Energy employee Darren Shanahan as its Chief Operating Officer and its listing on the Australian Securities Exchange.
Key highlights:
- REM would begin trading on the ASX after completing a strongly supported AU$5 million initial public offering.
- The IPO funds of REM will be used primarily to capitalise on the global growth opportunity for its Virtual Plant digital twin product.
- REM has received an order for a Virtual Plant for a new client at an offshore natural gas production facility in northwest WA.
Meanwhile, on the ASX, the REM stock was spotted trading 144.999% higher at AU$0.490 per share at 2:00 PM AEDT.
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2nd Nov 02:44 PM AEDT
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2nd Nov 02:26 PM AEDT
DUG Technology (ASX:DUG) updates on restructuring its Services business line
ASX-listed technology Company DUG Technology Ltd (ASX:DUG), on Tuesday, provided an update regarding the ongoing restructure of its Services business line.
The Company stated via an announcement that it has restructured its Services business line to reduce fixed costs and enhance operational efficiency. The restructure has focused on four initiatives relating to office space, projects, geographical business units and personnel.
Right-sizing office space is expected to provide annualised savings of nearly US$0.55 million, to be realised in the second half of the 2022 calendar year
DUG stated that the objective of the restructure is to reduce the level of fixed costs and to enhance operational efficiency.
The Company expects to realise cost savings in FY22 of approximately US$4.2 million as a result of these initiatives, with further savings in FY23.
Today, the shared of the Company were spotted trading 2.631% higher at AU$0.780 on ASX at 11:22 AM AEDT.
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2nd Nov 02:26 PM AEDT
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2nd Nov 02:09 PM AEDT
Moho (ASX:MOH) strikes deal with Whistlepipe to secure exploration licence
The ASX-listed mining exploration company Moho Resources Limited (ASX:MOH) announced that the Company has entered into agreements with Whistlepipe Exploration Pty Ltd to secure a granted exploration licence and certain technical information regarding six project areas in Western Australia.
The Company has further lodged applications for exploration licences over areas identified by Whistlepipe geoscientists as prospective for nickel and associated battery and precious metals.
MOH has also shared that the review for an exploration licence at Manjimup to allow exploration activities is underway and is about to begin as soon as possible.
Meanwhile, on the ASX, MOH was spotted trading at AU$0.060 per share at 12:12 PM AEDT.
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2nd Nov 02:09 PM AEDT
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2nd Nov 01:54 PM AEDT
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2nd Nov 01:35 PM AEDT
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2nd Nov 01:27 PM AEDT
Burgundy (ASX:BDM) secures one last Argyle Pink Diamonds, the ‘Hero.’
The ASX-listed mineral exploration company Burgundy Diamond Mines Limited (ASX:BDM) announced that it had acquired one of the iconic ‘hero’ stones sold at the final Argyle Pink Diamonds Tender in October 2021.
Key highlights:
- BDM shared that this iconic fancy vivid purplish pink diamond will become one of the centerpieces of the collection of Fancy Colour diamonds that will solidify Burgundy’s ultra-luxury brand.
- The stone aptly defines the characteristics of the emerging brand: rarity and desirability, impeccable provenance, and in-house hand-crafting of these individually unique gifts of nature.
Meanwhile, on the ASX, the BDM stock was spotted trading 2.083% higher at AU$0.245 per share at 12:42 PM AEDT.
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2nd Nov 01:27 PM AEDT
CIMIC’s (ASX:CIM) CPB secures Parkline Place contract
The ASX-listed capital goods company CIMIC Group Limited (ASX:CIM) shared that its unit CPB Contractors has been confirmed as the builder of the new 39-story premium commercial development above the north entrance to Sydney Metro’s Pitt Street Station.
CPB was awarded the design and construct contract for the premium office building by Parkline Place consortium partners Oxford, MEA, and Investa. CIM has shared that this contract will help CBP to generate revenue of AU$368 million.
CIMIC stated that CPB is already delivering the AU$463 million Pitt Street Station contract and is confirmed as the AU$150 million build-to-rent building builder above the station’s southern entrance.
Meanwhile, on the ASX, the CIM stock was spotted trading a tad bit lower at AU$19.800 per share at 12:36 PM AEDT.
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2nd Nov 01:26 PM AEDT
archTIS (ASX:AR9) begins trading on OTCQB
The ASX-listed software and services company archTIS Limited (ASX:AR9) announced that its shares are available for a quotation on the OTCQB. OTCQB is a US trading platform that is operated by the OTC Markets Group Inc. in New York.
Key highlights:
- archTIS shared that it can now be traded on the OTCQB under the symbol ARHLF.
- OTCQB listing is significant as it broadens AR9’s international profile and directly accesses US institutional and retail investors.
- The listing further aligns with the Company’s growing operations in the US market.
Meanwhile, on the ASX, the AR9 stock was spotted trading 1.745% higher at AU$0.290 per share at 11:18 AM AEDT.
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2nd Nov 01:22 PM AEDT
Here’s why Ambertech (ASX:AMO) is on investors’ radar today
The ASX-listed technology hardware and equipment company Ambertech Limited (ASX:AMO) announced that it has reached an agreement to acquire Audio Visual distribution business Connected Media Australia.
The acquisition includes the purchase of all the shares in CMA.
AMO stated that the cash consideration for the acquisition is anticipated to be AU$1.1 million. The Company will be funding for the acquisition by cash. AMO has expected incremental revenue growth from the transaction to be AU$2.0 million to AU$3.0 million annually, considering its current growth potential.
Meanwhile, on the ASX, the AMO stock was spotted trading 1.282% higher at AU$0.395 per share at 12:09 PM AEDT.
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2nd Nov 01:10 PM AEDT
ASX down 0.5% ahead of RBA decision; IAG, Whitehaven Coal lead fall
Australian shares continued to trade lower by afternoon, reversing early gains, as investors turned cautious ahead of the Reserve Bank’s meeting outcome. The central bank is widely expected to keep interest rate unchanged, while it may shift policy towards the next rate hike given the substantial rise in bonds yields last week. Financial and mining stocks were among the top laggards in the market. While mining stocks dropped due to continued fall in commodity prices, banking stocks tumbled amid looming fear of sooner-than-expected rise in cash rate.
By the afternoon trade, the ASX 200 index was down by 33.70 points or 0.46% at 7,337.10. The benchmark index opened higher today, tracking overnight gains on Wall Street, but soon slipped into negative territory ahead of highly anticipated Reserve Bank meeting outcome. Investors also kept an eye on key central bank meetings in the United States and Britain later this week.
On the sectoral front, seven of the 11 sectoral indices were trading lower, led by financial, telecom, and materials. The financial sector dropped 1.3%, followed by 0.9% fall in telecom and materials space. Among others, consumer discretionary, and tech sector also reeled under selling pressure.
Bucking the trend, A-REIT sector was the best performing sector with a 1.3% gain, followed by utilities, which rose 0.6%. Consumer Staples and health care sectors also witnessed buying activities.
The top loser on the ASX pack was Aussie insurance company Insurance Australia Group (ASX:IAG), which fell 6.6% by lunchtime. Some of the other top laggards were coal miner Whitehaven Coal (ASX:WHC), construction business Brickworks (ASX: BKW), online retailer Redbubble (ASX:RBL), and miner IGO (ASX: IGO).
Meanwhile, property business Goodman Group (ASX: GMG) topped the gainers’ list by rising 6.3%. Some of other top performers were diversified financial group Janus Henderson (ASX:JHG), real estate firm Charter Hall Group (ASX:CHC), agro-based company Graincorp (ASX:GNC), and natural gas infrastructure business APA Group (ASX: APA).
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2nd Nov 01:08 PM AEDT
Gold price firms up on dip in the US dollar
Gold bars | Source: © Theohudayanto | Megapixl.com
Gold prices rose on Monday with ease in the strength of the dollar and equities paring gains. Investors and traders are currently focusing on the timetable of the US Federal Reserve for a rollback in stimulus measures at this week's key meeting. December delivery gold futures traded at US$1,792.50 per ounce, down 0.18% as of 2 November 2021 at 11:52 PM AEDT.
Stronger earnings in equities dimming gold’s appeal
The stronger earnings in equities took off the appeal of gold. The strong performance of US equities has dampened the demand for safe haven, however, the prices inched up on Monday.
The prices of gold were additionally buoyed due to an ease in the US dollar that makes bullion less expensive for other currency holders.
Gold prices have rallied earlier on the back of concerns related to inflation and uncertainty of the central bank's measures to combat rising prices.
The US Federal Reserve is expected to start bond purchase, a sign that it sees the US economy is recovering.
The retail gold market is gaining momentum in countries like India and China due to the festive season and marriage seasons, the demand could boost gold prices further.
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2nd Nov 01:08 PM AEDT
Here’s why AML3D (ASX:AL3) is trading strong on ASX today
Image Source: Pexels
ASX-listed Australia based Company which manufactures fabricated metal products, AML3D Limited (ASX:AL3) announced on Tuesday the production of a specialised 3D printed high strength alloy part for a leading North American aerospace company.
The Company has revealed that the part is a WAM® 3D printed high strength corrosion resistant alloy shape that will be a bespoke prototype and it was specifically sought out for this project by the aerospace manufacturing company, due to the high strength and robust properties associated with AML3D’s specialised WAM® technology process. This highly anticipated opportunity will see AML3D enter the supply chain for the rapidly growing aerospace and space exploration sector, for the first time. An important element of AML3D’s strategy is expansion into the North American market.
AL3 has however, not disclosed the identity of the aerospace company due to the confidentiality requirements and sensitive nature of the contract.
Today, the stock AL3 was spotted trading 10% higher at AU$0.165 per share on ASX at 11:59 AM AEDT.
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2nd Nov 12:16 PM AEDT
Here’s why InteliCare Holdings (ASX:ICR) has grabbed the limelight today
Image Source: Pexels
ASX-listed Australia based Software-as-a-Service (SaaS) technology firm in the aged care and health industries InteliCare Holdings Ltd (ASX:ICR), announced on Tuesday a contract win and initiation of services with Mercy Community Services Ltd (MercyCare).
Mercy Community Services Ltd is a leading Western Australia provider of community services, including aged care and disability support services.
The Company also revealed today that it has developed an award-winning AI-based home monitoring solution that can improve home care assistance to support senior citizens to continue living independently at home.
ICR informed that it has been awarded a contract to supply MercyCare with assistive living technology. MercyCare helps more than 2,400 older people live independently in their own homes.
MercyCare will buy ICR’s smart home technology, with up to 125 units available for MercyCare clients to purchase via their aged care funding or privately.
The contract value is forecast at more than AU$170,000, with further non-binding potential for ongoing recurring fees and additional hardware.
Today, the stock ICR was spotted trading 45.833% higher at AU$0.140 per share on ASX at 11:38 AM AEDT.
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2nd Nov 12:15 PM AEDT
Goodman group (ASX:GMG) upgrades FY22 guidance over 15%
Integrated property business Goodman Group (ASX:GMG) has shared its Q1-22 operational update on ASX. It claims to have made a strong start in FY22 from continuing structural changes, significant customer demand and intensification of use of sites.
Key Highlights-
- As at 30 September 2021, GMG’s total assets under management(AUM) were AU$62 billion.
- It witnessed a 3.2% like-for-like net property income (NPI)growth in its managed partnerships.
- GMG also achieved a 98.4% occupancy across the partnerships.
- AU$12.7 billion of development work in progress (WIP) was recorded.
High utilisation of space, barriers to entry and limited supply are underpinning occupancy and cash flow growth in GMG portfolio. It is also witnessing strong rental growth globally. Combined with increased ongoing development activity, GMG expects an AUM of about AU$70 billion by June 2022. It has thus, upgraded its market guidance for FY22, keeping operating EPS growth over 15%.
On ASX today, GMG shares up over 5%, trading at AU$23.49 per share.
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2nd Nov 12:10 PM AEDT
DUG Technology (ASX:DUG) updates on restructuring its Services business line
ASX-listed technology Company DUG Technology Ltd (ASX:DUG), on Tuesday, provided an update regarding the ongoing restructure of its Services business line.
The Company stated via an announcement that it has restructured its Services business line to reduce fixed costs and enhance operational efficiency. The restructure has focused on four initiatives relating to office space, projects, geographical business units and personnel.
Right-sizing office space is expected to provide annualised savings of nearly US$0.55 million, to be realised in the second half of the 2022 calendar year
DUG stated that the objective of the restructure is to reduce the level of fixed costs and to enhance operational efficiency.
The Company expects to realise cost savings in FY22 of approximately US$4.2 million as a result of these initiatives, with further savings in FY23.
Today, the shared of the Company were spotted trading 2.631% higher at AU$0.780 on ASX at 11:22 AM AEDT.
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2nd Nov 12:05 PM AEDT
ASX 200 opens in green; RBA policy in focus
Australian share market opened on a positive note on Tuesday, as Wall Street gains overnight, while market participants await Reserve Bank of Australia's monetary policy meeting and expects interest rate to be remained unchanged at a record low of 0.1%. The ASX 200 was up 0.3% this morning to 7,390.
Global equity markets rallied on Monday, supported by expectations of fiscal stimulus in Japan and market participants becoming unafraid by concerns over future interest rate hikes that have tempered bonds.
As of 11:00 AM AEDT, the ASX 200 has lost all of its opening gains and was trading in the red zone, losing 0.22% or 16.5 points to 7,354.7. The ASX All Ordinaries index was also down 0.23% or 17.4 points to 7,674.8. The A-VIX was up 1.65% to 14.26. Over the last five trading sessions, the A-VIX has gained 20.02%.
The top ASX 200 gainers for the day so far were Goodman Group (ASX:GMG) and Janus Henderson Group CDI (ASX:JHG), both gaining 5.16% and 3.07% , respectively. On the flip side Insurance Australia Group Limited (ASX:IAG) and Whitehaven Coal Limited (ASX:WHC) were the top laggards, shedding 6.09% and 3.81%, respectively.
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2nd Nov 11:56 AM AEDT
Big River (ASX:BRI) completes United Building Products acquisition
The ASX-listed timber manufacturer Big River Industries Limited (ASX:BRI) announced that it has completed the acquisition of United Building Products. The addition has been effective since 1 November 2021.
BRI shared that United Building has been under operations for more than 30 years now. The Company has grown to be one of the largest building materials distribution businesses in the Illawarra region and provides vital support to BRI’s existing site at Kiama.
As United Building Products has excellent exposure to detached housing and renovation markets, the business is trading at extreme levels. It will eventually help build a more diverse NSW region for BRI.
Meanwhile, on the ASX, the BRI stock was spotted trading at AU$2.200 per share at 10:51 AM AEDT.
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2nd Nov 11:55 AM AEDT
Netwealth (ASX:NWL) offers merger with Praemium (ASX:PPPS) for A$785M
Netwealth Group Limited (ASX:NWL) has conformed submitting a non-binding indicative proposal for merger with Praemium Limited (ASX:PPS). The proposal was submitted on 28 October 2021 to acquire all of the shares of Praemium.
Transaction Details-
PPS shareholders are to receive one new NWL share for every 11.96 PPS shares. Based on the closing price of NWL shares are of AU$17.94, implying a value of AU$1.50 for each PPS share, in NWL scrip. Equity value for PPS is thus AU$785 million and a 29% premium on PPS’s share closing price of AU$1.16 on 27 October 2021. In addition, NWL’s proposal also contemplates a contingent consideration right linked to the outcome of sales of PPS’s international operations.
NWL has appointed Goldman Sachs as financial adviser, while PPS has made Deloitte Corporate Finance its corporate adviser.
On ASX today, NWL shares are slightly down at AU$17.320 per share. However, PPS shares are trading up over 15% at AU$1.442 per share
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2nd Nov 11:55 AM AEDT
Adore Beauty (ASX:ABY) appoints Marina Go as new Board Chairman
Image Source: Pexels
ASX-listed Australia-based online beauty retailer Adore Beauty Group Limited (ASX:ABY) shared via an announcement on 2 November 2021, the following changes to the Board of Directors, with immediate effect:
- Marina Go, Independent Non-Executive Director has been appointed as Chair of the Board; and
- Justin Ryan will retire from the Board as Non-Executive Director and as Chair.
The Company stated that Ryan has served as a Director of ABY since 2019 and has made a significant contribution to the Board and Company.
The announcement revealed that Marina Go was appointed to the Board of Adore Beauty in October last.
ABY stock was spotted trading 2.244% higher at AU$5.010 per share on ASX at 11:14 AM AEDT.
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2nd Nov 11:47 AM AEDT
Unibail (ASX:URW) signs co-investment agreement with AXA
The ASX-listed real estate company Unibail-Rodamco-Westfield (ASX:URW) announced that it had signed a co-investment partnership agreement with AXA Investment Management. This partnership agreement would help URW to develop the Triangle Tower project in Paris.
The Company stated that the project is planned to begin towards the end of 2021 and is expected to open in 2026.
Meanwhile, on the ASX, the URW stock was spotted trading 1.052% higher at AU$4.800 per share at 10:45 AM AEDT.
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2nd Nov 11:46 AM AEDT
Telix Pharmaceuticals (ASX:TLX) obtains TGA nod for lead prostate cancer imaging product
Image Source: Pexels
ASX-listed clinical-stage biotechnology Company Telix Pharmaceuticals Limited (ASX:TLX) shared on Tuesday that the Australian Therapeutic Goods Administration (TGA) has granted an approval to Illuccix® (TLX591-CDx), the Company’s lead prostate cancer imaging product. Illuccix is a positron emission tomography (PET) agent for the diagnostic imaging of men whohave prostate cancer.
According to today’s announcement, the TGA has granted Illuccix a broad clinical indication comprising:
- Patients with prostate cancer who are at risk of metastasis and who are suitable for initial definitive therapy (also called “primary staging”), and
- Patients with prostate cancer who have suspected recurrence based on elevated serum prostate specific antigen (PSA) level (termed as “biochemical recurrence”).
The Company stated that the approval of Illuccix means Australian patients who have prostate cancer will have greater access to a TGA-approved PSMA-PET imaging agent. According to the Company, this new mode of imaging has been recognised as superior to conventional imaging with CT or MRI for the staging of prostate cancer.
Today, the stock TLX was spotted trading 4.367% higher at AU$6.930 per share on ASX at 10:44 AM AEDT.
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2nd Nov 10:41 AM AEDT
Australian shares to rise ahead of RBA meet
Australian share market is poised to inch higher on Tuesday, tracking overnight gains in US stocks. The domestic investors await Reserve Bank of Australia's (RBA) monetary policy meeting, where the interest rate is expected to be retained at a record low level of 0.1%.
According to the ASX Futures, the ASX 200 may open 0.2% higher on Tuesday morning. The benchmark closed 0.6% higher on Monday.
The Australian central bank will meet on Tuesday to discuss the cash rate. The market expects RBA to hold rates at the current record low level of 0.1%. It is also expected that RBA may signal the end of quantitative easing, do away with the bond yield target framework, and bring forward the rate hike guidance.
On Wall Street, the S&P 500 gained 0.18%, while the NASDAQ gained 0.62%. The Dow Jones rose 0.26%. The three major indices hit intra-day record highs as gains for energy shares and Tesla buoyed indices and investors looked ahead to a major US Federal Reserve meeting later in the week. While Fed meets on Wednesday, Bank of England is scheduled to do so on Thursday.
European stocks also hit record highs following upbeat earnings reports and a surge in banking shares. The pan-European STOXX 600 rose 0.7% to finish at a record closing high as the global mood was supported by Japan's post-election boost and stabilising coal prices in China. MSCI's world equities index gained 0.25%.
The 10-year US Treasury note rose 2.8 basis points to yield 1.5768%, while German 10-year yields slid 0.8 basis points to yield -0.107%.