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12^th Nov 07:18 PM AEDT

Duratec (ASX:DUR) secures Contract worth AU$50 million

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ASX-listed Australia based engineering, construction, and remediation contractor Duratec Limited (ASX:DUR), shared on Friday that it has been granted AU$50 million Aircraft Fuel Hydrant Main construction contract. This project is the initial stage and an integral part of the airport fuel infrastructure at the new Western Sydney International Airport development for Multiplex Construction Pty Ltd. It will provide initial fuel reticulation infrastructure with further opportunities in line with the expected future growth in fuel infrastructure requirements of the airport.

According to the Company, the project involves the provision of fuel infrastructure between the aviation fuel farm boundary and the phase one terminal apron. The works on site are due to commence in 2022. Duratec stated that the award represents a noticeable expansion into fuel transformation projects and Energy infrastructure, leveraging the experience the Company has gained in the Defence sector regarding Energy and Fuel projects.

Today the stock DUR closed 2.703% lower at AU$0.360 per share on ASX.

12^th Nov 07:03 PM AEDT

Roto-Gro International (ASX:RGI) eyes at CSE listing in Q1 CY2022

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ASX-listed Australia based agricultural technology company Roto-Gro International Limited (ASX:RGI) shared on 12 November 2021 that the Company expects a Canadian Securities Exchange (CSE) listing in Q1 CY2022.

Roto-Gro is pursuing a dual listing on the Canadian Securities Exchange as a result of interest from Canadian and U.S. investment banks and investment firms. The Company believes that the dual listing in both North America and Australia will expose it to a broader investor base with the potential to enhance trading liquidity.

Today’s announcement revealed that based on the RGI’s current indicative timetable, the effective date of the consolidation will be Monday, 10 January 2022.

Today, the stock RGI closed 3.571% higher at AU$0.029 per share on ASX.

12^th Nov 07:02 PM AEDT

Contact Energy (ASX:CEN) completes bookbuild for its green capital bonds

ASX-listed diversified and integrated energy company Contact Energy Limited (ASX:CEN) shared on Friday that the bookbuild for its offer of unsecured subordinated green capital bonds has been completed. The Company also confirmed that $225 million has been booked for clients of those bookbuild participants who have received firm allocations.

According to today’s announcement the interest rate for the first five years has been fixed at 4.33% per annum. Till the time the Capital Bonds remain outstanding, the interest rate will be reset at five-yearly intervals identical to sum of the five-year exchange rate, at a margin of 1.65% along with a step-up of 0.25%, revealed the announcement.

The energy Company informed that it would issue the Capital Bonds on 19 November this year.

The stock closed tad higher at AU$7.630 per share on ASX.

12^th Nov 05:21 PM AEDT

12^th Nov 05:09 PM AEDT

ASX ends 0.8% higher; IGO, James Hardie, Champion Iron shine

Snapping four session losing streak, Australian shares closed higher in broad-based rally on Friday. The rebound in commodity prices helped equity market recover from shock of a higher US inflation reading, which reignited fear of rate hike. The market sentiment was also boosted amid speculation that Chine will take steps to inject liquidity in the property market after Evergrande Group debacle.

The benchmark ASX 200 index closed 61.10 points or 0.83% higher at 7,443, crossing above its 20-day moving average. Overall, the index ended the week virtually unchanged as inflation woes rattled investors’ sentiments.

The market witnessed broad-based buying today, with ten of 11 sectors ending in geen zone, barring health care. The material sector emerged as the biggest gainer for the second day, owing to rise in commodity prices such as iron ore, copper and gold. The gain in material space was driven by iron ore miners as iron ore prices surged 4.1% to US$92.57 a tonne overnight. The gold stocks also witnessed surge in buying as investors sought inflation hedges.

Tech and energy sectors also witnessed a surge in buying, with each index rising over 1%. Among others, consumer staples, telecom, utilities and consumer discretionary sectors also ending higher with modest gains.

Meanwhile, healthcare was the only loser, which ended marginally lower.

12^th Nov 05:08 PM AEDT

BARD1 (ASX:BD1) grabs investors’ attention; shares gain more than 40%

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The ASX-listed healthcare equipment developer BARD1 Life Sciences Limited (ASX:BD1) announced that US Patent No: 11137402 with the title ‘Lung Cancer Diagnosis’ was issued by the United States Patent and Trademark Office.

BD1 stated that the issued Patent claims are driven towards various ways for detecting antibodies to BARD1 peptides. Along with his, it deals with diagnosis of lung cancer.

The patent will be valid till 5 February 2035.

Meanwhile, on the ASX, BD1 stock closed 41.414% up at AU$1.400 per share today.

12^th Nov 04:21 PM AEDT

Iron ore prices slump on improved supply, lower demand

Falling iron ore prices | Source: © Argus456 | Megapixl.com

The iron ore price rally has cooled down with prices tumbling below the forecasted range, extending its downward momentum below US$90 per metric tonne, the lowest since May 2020. The significant drop in the prices was underpinned by weak industrial demand in China due to curbs in the production of steel.

After enforcing steel production constraints in 2021, Chinese steel mills were forced to lower their output during the winter season ahead of Beijing's Winter Olympics. Furthermore, the country’s property sector is under pressure as the country tightens credit lines as Evergrande’s difficulties sparked contagion for other property developers of the country.

12^th Nov 04:05 PM AEDT

12^th Nov 02:53 PM AEDT

12^th Nov 02:40 PM AEDT

12^th Nov 01:40 PM AEDT

12^th Nov 01:10 PM AEDT

Crude oil settles higher despite a strong dollar

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Crude oil prices inched higher on Thursday as the market struggles to cope up with the concerns of a stronger US dollar and US inflation. The prices were additionally buoyed after OPEC cut its 2021 oil demand forecast due to high prices. January delivery Brent Crude oil futures last traded at US$82.59 per barrel down 0.05%, whereas December delivery WTI crude oil futures traded 0.18% down at US$81.44 per barrel as of 12 November 2021 at 12:01 PM AEDT.

The crude oil prices rose significantly in the last session on expectations that the post-pandemic demand would increase further in the coming months.

12^th Nov 01:09 PM AEDT

Resonance (ASX:RHT) trading strong today. Here’s why

The ASX-listed healthcare firm Resonance Health Ltd (ASX: RHT) shared today that it has signed a Patient Access to FerriSmart Letter of Agreement with the World Health Organization (WHO) related Cyprus based Thalassaemia International Federation (TIF).

Key highlights:

RHT shared that TIF would deploy FerriSmart to Thalassaemia patients in low-and-middle-income nations.
The Company will also provide 500 FerriSmart vouchers and salary support for a dedicated TIF executive.
A reliable and experienced TIF executive will manage patient access to the deployment of FerriSmart.
TIF will work with National Thalassaemia Associations and physicians to facilitate FerriSmart utilization.

Meanwhile, on the ASX, RHT stock was spotted trading 4.999% higher at AU$0.105 per share at 11:42 AM AEDT.

12^th Nov 01:09 PM AEDT

12^th Nov 01:00 PM AEDT

Mining stocks push ASX 0.9% higher; BHP, Rio, Fortescue rise

Australian shares were trading near day’s high by mid-session on Friday, supported by broad-based buying across sectors. The market sentiment was also lifted by rally in blue chip miners such as BHP Group, Rio Tinto, Fortescue, and Mineral Resources, which surged on higher iron ore and copper prices.

By the afternoon trade, the ASX 200 index was up by 69.40 points or 0.94% at 7,451.30. Earlier today, the benchmark index opened higher today, snapping four session losing streak, tracking mixed cues from Wall Street.

The biggest gainer on the ASX pack was iron ore explorer Champion Iron (ASX: CIA), which traded higher by 5.4%. Some of the other notable gainers were Australian law firm Omni Bridgeway (ASX: OBL), and miner giants Fortescue Metals Group (ASX:FMG), Rio Tinto (ASX:RIO), and Gold Road Resources (ASX:GOR).

On the flip side, automotive retail group Eagers Automotive (ASX: APE) was the worst performer with a 2.9% loss. The other top losers were aerial imagery technology company Nearmap (ASX:NEA) and health care businesses such as Ansell (ASX:ANN), Fisher & Paykel (ASX:FPH), and ResMed Inc. (ASX:RMD).

On the sectoral front, nine of 11 sectors were trading higher, barring health care and A-REIT. Material sectors was the biggest gainer, rising as much as 2.9% due to a rebound in metal prices after China’s Evergrande Group averted a destabilising default.

Consumer staples, energy and tech sectors also witnessed surge in buying, with each index rising over 1%. Among others, telecom, utilities and consumer discretionary sectors also traded higher with modest gain.

Meanwhile, health care and A-REIT were among worst performers, trading marginally lower.

12^th Nov 12:20 PM AEDT

Irongate (ASX:IAP) rejects 360 Capital takeover bid

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The ASX-listed real estate company Irongate Group (ASX:IAP) announced that it has rejected 360 Capital’s takeover offer. The Company believes that the bid “materially undervalues” it and does not reflect a compelling proposition.

360 Capitals approached a revised non-binding proposal to acquire IAP for an all-cash consideration of AU$1.70 per share.

Meanwhile, on the ASX, the IAP stock was spotted trading a tad bit higher at AU$1.615 per share at 10:51 AM AEDT.

12^th Nov 12:19 PM AEDT

Aristocrat (ASX:ALL) raises A$1.3B under entitlement offer bookbuild

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Aristocrat Leisure Limited (ASX:ALL) has completed its underwritten entitlement offer's retail shortfall bookbuild component.

It represents the final stage of ALL's entitlement offer and has raised gross proceeds of around AU$405 million from the issue of about 9.7 million new ALL shares. These are at an offer price of AU$41.85 per new Share.

With the institutional component that had raised AU$895 million by 20 October 2021, ALL has now raised around $1.3 billion. ALL will use the funds generated to finance the proposed 100% acquisition of Playtech plc (LSE:PTEC).

Meanwhile, on ASX, ALL shares are slightly above the previous close, trading at AU$47.130 per Share as of 11:09 AM AEDT.

12^th Nov 11:52 AM AEDT

Here’s why AusNet (ASX:AST) is making headlines today

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ASX-listed utility service provider AusNet Services Limited (ASX:AST) announced that the Foreign Investment Review Board has confirmed that the Commonwealth Government has not objected to the acquisition of AST by Brookfield Asset Management.

The announcement has revealed that the implementation of the acquisition is subjected to various conditions, including AST shareholders approval and court approval.

Meanwhile, on the ASX, the AST stock was spotted trading 1.612% higher at AU$2.610 per share at 11:21 AM AEDT.

12^th Nov 11:52 AM AEDT

12^th Nov 11:46 AM AEDT

ASX 200 opened higher; Local miners take lead

The Australian share market opened on a positive note on Friday, trying to snap a four-day losing streak. The resource stocks supported the market buoyed by an increase in metal prices after China Evergrande Group again averts debt default. The ASX 200 was trading 0.6% to 7,420 higher in early trade.

A sharp increase in the US dollar index made the headlines as it surged to a 16-month high, a day after the strongest inflation reading touched a three-decade high. The currency markets are anticipating US interest rate hikes earlier-than-expected, while equities ended higher, with investors focused on the rosy earnings outlook.

The major miners took a strong lead from increase in commodity prices. On the local bourse, Rio Tinto (ASX:RIO) jumped 4.7% to AU$93.35, while BHP Group Limited (ASX:BHP) advanced 3.1% to AU$37.81. Fortescue Metals Group Limited (ASX:FMG) was up 3% to AU$15.92, Champion Iron Limited (ASX:CIA) added 3.8% to AU$4.41 and Mineral Resources Limited (ASX:MIN) climbed 2.1% to AU$40.03. Four of the top five ASX 200 gainers for the day were the local miners.

On the sectoral front, nine out of the 11 sectors were trading higher, and the Materials sectors was taking the lead with a 2.72% gain. The consumer staples, IT and telecom sectors were all trading more than 1% up each. The healthcare sector was shedding 0.6%.

12^th Nov 11:40 AM AEDT

NIB (ASX:NHF) to resume travel insurance sale in Australia and New Zealand

The ASX-listed insurance company NIB Holdings Limited (ASX:NHF) has announced that it will resume the sale travel insurance for residents of Australia and New Zealand this month upon securing an underwritten partner.

NHF confirmed that Nib Travel has partnered with Pacific International Insurance to support its underwriting arrangements.

Initially, the travel insurance sale at Australia and New Zealand were paused on 5 October 2021 as the Company’s previous underwriting arrangements came to an end. NHF has mentioned that travel insurance sale would resume on a phase approach from mid-November.

Meanwhile, on the ASX, the NHF stock was spotted trading a tad lower at AU$7.190 per share at 10:48 AM AEDT.

12^th Nov 11:26 AM AEDT

HT&E (ASX:HT1) acquires Grant Broadcasters for A$307.5M

Media and Entertainment business- HT&E Limited (ASX:HT1) adds Grant Broadcasters radio and digital operations, to its radio network portfolio via a binding acquisition agreement. The acquisition price is AU$307.5 million.

Key Highlights-

The deal was signed by Australian Radio Network Pty Ltd (ARN), a wholly-owned subsidiary of HT1.
The acquisition consideration of AU$307.5 million will be settled using cash and debt, and shares.
The deal will create a national radio broadcast network with 58 stations, 46 DAB+ stations across 33 markets.
The transaction price represents 8.7x LTM June 21 proforma EBITDA and 10.3x LTM June 21 pro forma EBIT.
The Grant Broadcasters acquisition is to deliver 20%+ EPS accretion on an LTM June 21 pro forma basis before synergies and one-off integration costs.

Other than this, HT1’s trading update shows a 17% revenue growth in the September quarter with radio revenue forecasts at 5-10% pcp for December quarter.

Meanwhile, on ASX, HT1 shares are at YTD peak price, up 7.035%, trading at AU$2.130 per share as of 10:45 AM AEDT.

12^th Nov 11:11 AM AEDT

Zip (ASX:Z1P) finishes acquisition of BNPL platform Twisto Payments

ASX-listed Australia based “buy now, pay later” (BNPL) operator Zip Co Limited (ASX:Z1P) shared on Friday that the Company has completed the acquisition of Twisto Payments.

This comes after the shareholder approval at Zip’s AGM on 4 November 2021. With this the digital payments service provider has completed the acquisition of the remaining shares of Central European BNPL provider, Twisto.

The Company revealed that acquisition provides Zip with a gateway to one of the largest eCommerce markets globally and access to all 27 member states of the EU. Founded in 2013, Twisto has provided its service to nearly one million customers, across 22,000 merchants, and is a leading BNPL operator in Central Europe.

As per the terms of the Twisto acquisition, Z1P has today issued 17,454,987 new shares to the Twisto securityholders. Besides, the Company will also issue approximately 4,550,000 new shares to the Twisto securityholders as “the Holdback Consideration Shares.”

Today the stock Z1P was spotted trading 3.684% higher at AU$5.910 per share on ASX at 10.54 AM AEDT.

12^th Nov 10:23 AM AEDT

ASX 200 to rise after US stocks rebound

Australian share market is expected to open higher on Friday after a largely positive night on Wall Street. The domestic stock market may also gain from a rebound in metal prices after China’s Evergrande Group averted a destabilising default.

The ASX 200 is expected to open the day 34 points or 0.45%, according to the latest SPI futures. The benchmark fell 0.6% on Thursday.

On Wall Street, the Dow Jones fell 0.35%, the S&P 500 added 0.21% and the NASDAQ advanced 0.77%. MSCI's all-country world index advanced 0.15% and the broad STOXX Europe 600 index rose 0.32% to end at a record closing high.

US Treasury market was closed in observance of Veterans Day, or Armistice Day elsewhere.The US dollar hit a 16-month high a day after the strongest US inflation data in thirty years.

12^th Nov 10:17 AM AEDT

Markets

Live ASX News Today

Duratec (ASX:DUR) secures Contract worth AU$50 million

Roto-Gro International (ASX:RGI) eyes at CSE listing in Q1 CY2022

Contact Energy (ASX:CEN) completes bookbuild for its green capital bonds

Zip (ASX:Z1P) finishes acquisition of BNPL platform Twisto Payments