Live ASX News Today
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23rd Nov 07:21 PM AEDT
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23rd Nov 07:04 PM AEDT
Why did Corum (ASX:COO) close 10% strong today
The ASX-listed healthcare firm Corum Group Limited (ASX:COO) announced that it has entered into multi-year agreements with several large retail pharmacy groups. These arrangements will help COO to extend its relationship with the groups and PharmX.
Apart from that, the agreements will also drive an increase in the number of connected suppliers on the platform. COO has signed agreements have been signed with the groups, namely TerryWhite Chemmart, Alive Pharmacy Group, Good Price Pharmacy Group, Capital Chemist and Blooms The Chemist, totalling over 600 pharmacies.
Meanwhile, on the ASX, the COO stock closed 10.796% higher at AU$0.072 per share today.
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23rd Nov 07:03 PM AEDT
Vysarn (ASX:VYS) completes the Australian Groundwater Solutions acquisition
The ASX-listed drilling service provider Vysarn Limited (ASX:VYS) announced that it has completed the acquisition of Australian Groundwater Solutions Pty Ltd trading as Yield Test Pumping (Yield).
Vysarn has agreed to acquire 100% of the issued shares in Yield, as it has already announced earlier.
Meanwhile, on the ASX, the VYS stock has closed trading at AU$0.080 per share today.
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23rd Nov 07:02 PM AEDT
RAS Technology (ASX:RTH) begins trading on ASX post successful IPO
The ASX-listed technology company RAS Technology Holdings Limited (ASX:RTH) is successfully listed on the ASX and has begun trading today.
RAS informed that it has raised AU$29.0 million through an Initial Public Offering, fully underwritten by Ord Minnett Limited. The IPO has let the Company achieve a market capitalisation of AU$68.1 million while listing.
Moreover, RAS has reported annualised monthly revenue of AU$6.6 million in June 2021 (up 75% year on year) and pro forma EBITDA of AU$1.4 million in FY21.
Meanwhile, on the ASX, the RTH stock has closed, trading 6.666% higher at AU$1.600 per share today.
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23rd Nov 07:02 PM AEDT
Tamboran (ASX:TBN) raises A$35M funding
The ASX-listed natural gas explorer Tamboran Resources Limited (ASX:TBN) shared that it has secured funding worth AU$35 million through a private placement.
Out of the total investment amount, the Company has anchored AU$20 million from Bryan Sheffield, a strategic US investor, and the rest was raised from existing TBN shareholders.
TBN will utilise the raised funds to accelerate the commercialisation of EP 136 and for working capital purposes.
Meanwhile, on the ASX, the TBN stock closed 2.597% higher at AU$0.395 per share today.
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23rd Nov 06:54 PM AEDT
Fintech Beforepay readies itself for ASX IPO
Sounding similar to Afterpay, the next-gen lender, Beforepay is prepping itself up for its ASX listing. The much-awaited IPO is creating market buzz already.
Beforepay is, in essence, a payday lender that allows its users to access their paycheck amounts before their actual payday. The repayment is in the form of a deduction from the next paycheck or within two weeks of borrowing.
The startup is seeking to pump in cash into the business through ASX listing. It had last week pitched its prospectus to institutional investors. However, its loss-making business model seems risky to the investor community.
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23rd Nov 06:53 PM AEDT
Why was Northern Star Resources (ASX:NST) trending today
The ASX-listed gold production firm Northern Star Resources Ltd (ASX:NST) announced that it has agreed to acquire Newmont’s power business for US$95 million from Newmont Corporation’s Australian subsidiary, Newmont Australia.
As part of Northern Star’s purchase of 50% of Kalgoorlie Consolidated Gold Mines Pty Ltd and associated assets, Northern Star paid US$25 million for an option to buy the Newmont power business.
NST has entered into a binding sale agreement with Newmont Australia to acquire all the shares in GMK Investments Pty Ltd, which holds a 100% interest in Newmont Power Pty Ltd and NP Kalgoorlie Pty Ltd.
Meanwhile, on the ASX, NST closed 2.684% lower at AU$9.790 per share today.
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23rd Nov 06:11 PM AEDT
Regional Express (ASX:REX) wins central 1 Route tender
The ASX-listed transportation company Regional Express Holdings Limited (ASX:REX) announced that it had secured a competitive tender to service the Central 1 Route, which connects the communities of Roma and Charleville to Brisbane.
REX stated that the Central 1 route is one of seven regulated routes put out for tender in July 2021 by the Queensland Department of Transport and Main Roads and is currently serviced by QantasLink.
Additionally, REX has secured the five regulated routes that it is currently servicing. The new contracts will become effective from 1 January 2022 and will be valid for five years.
Meanwhile, on the ASX, the REX closed a bit lower at AU$1.455 per share today.
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23rd Nov 06:11 PM AEDT
MGC (ASX:MXC) secures US$750K funding from AMC Holdings
The ASX-listed healthcare firm MGC Pharmaceuticals Ltd (ASX:MXC) confirmed that the Company had received the full US$750,000 cash deposit from AMC Holdings Inc. now as per the terms of the USA Supply and Distribution Agreement with AMC.
The announcement revealed that AMC will provide MGC Pharma with a further US$2.25 million funding for the balance of the Year 1 US$3 million order in the form of a cash deposit. Additionally, AMC will also provide a Letter of Credit or other secured funding facilities acceptable to MGC Pharma to deliver the first CimetrA shipment to the US.
Meanwhile, on the ASX, the MXC stock closed 2.222% higher at AU$0.046 per share today.
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23rd Nov 05:33 PM AEDT
Why is Pilbara (ASX:PLS) at its 3-month high on ASX?
Lithium explorer Pilbara Minerals Limited (ASX:PLS) has reached agreements with existing lenders to increase its senior debt facilities. The agreements will expand existing finance facility by US$20 million, taking up to US$130 million. In addition, the undrawn working capital facility will also go up by US$10 million.
Further, the maturity date of PLS’s undrawn, existing working capital facility is extended to November 2023. The debt facilities will remain on substantially favourable terms as those executed in September 2020 for its Ngungaju assets. PLS is to satisfy all conditions precedent for additional facilities within the next two weeks.
The revised financing shall support the planned production expansion from its’ Pilgangoora Project in Western Australia.
As a result, On ASX today, PLS shares are topping three-month price charts. PLS shares closed 1.6% up at AU$2.520 per share.
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23rd Nov 05:08 PM AEDT
Rafaella (ASX:RFR) signs HoA with PanEx
The ASX-listed mineral exploration company Rafaella Resources Limited (ASX:RFR) announced that it had executed a binding heads of agreement with PanEx Resources Ltd. The HoA will allow RFR to acquire Pan Iberia Ltd.
The Company is likely to execute the definitive transaction agreements by 31 January 2022, with completion occurring following the publication of a JORC compliant mineral resource estimate for the Projects.
Meanwhile, on the ASX, the RFR stock closed 1.389% lower at AU$0.071 per share today.
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23rd Nov 04:26 PM AEDT
Samsung likely to open US$17B chip making plant in Texas
Renowned smartphone developer, Samsung Electronics Co. Ltd, has finally declared to construct the second semi-conductor factory worth US$17 billion in Williamson country, Texas. However, the Company is still progressing with due diligence at several places like Arizona, New York and Austin.
The new semi-conductor factory will be responsible for developing advanced logic semiconductor chips and will likely open 1800 job opportunities in the US.
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23rd Nov 04:25 PM AEDT
Little Green Pharma’s (ASX:LGP) Billinol gets approval in Denmark
The ASX-listed healthcare company Little Green Pharma Ltd (ASX:LGP) announced that the Danish Medicines Agency had granted a product registration for its 16% THC ‘Billinol LGP’ cannabis flower medicine.
LGP shared that Billinol LGP will be the first locally produced cannabis medicine granted registration in Denmark. Furthermore, LGP is only the second supplier to have a registered flower medicine in the country. The registration aligns with the Group’s strategy of being first to market in key territories, including Australia, France and Poland. Additionally, the registration also allows LGP to access advantages to Nordic markets under mutual recognition scheme.
Meanwhile, on the ASX, LGP closed at AU$0.660 per share today.
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23rd Nov 03:23 PM AEDT
Bionomics (ASX:BNO) is on investors’ radar today. Here’s why
The ASX-listed healthcare firm Bionomics Limited (ASX:BNO) announced today that it has filed a registration statement on Form F1 with the U.S. Securities and Exchange Commission regarding a proposed public offering of American Depositary Shares. Each share will represent one or several BNO’s ordinary shares in the United States.
Bionomics will offer all securities to be sold in the offering. However, the number of securities to be sold and the price per ADS under any proposed Offering have not been determined yet.
Apart from the proposed public offering, Bionomics has also planned to list the ADS on the NASDAQ Stock Market under the ticker symbol ‘BNOX’.
Meanwhile, on the ASX, BNO stock was spotted trading at AU$0.115 per share at 1:39 PM AEDT.
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23rd Nov 03:23 PM AEDT
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23rd Nov 02:26 PM AEDT
Mining, energy stocks lift ASX to 0.6%?gain; Fortescue, BHP, Rio lead
After opening positively in the early morning session, Australian shares?continued to trade higher by afternoon, supported by gains in materials, financials and energy sector stocks. The market sentiment was lifted by gains in index heavyweights BHP and Woodside, which surged following completion of the mega merger deal yesterday. The strong rally in mining stocks such as BHP, Woodside, Fortescue, Rio Tinto, Mineral Resources, and Champion Iron also supported the market, which surged on rebound in iron ore prices.
The ASX 200?index?rose by 42 points or 0.57% to 7,395.10 by mid-session.??Earlier today, the benchmark index opened higher, undermining weak global cues, and gained as much as 0.7% during the day’s trade so far.??
The equity market witnessed broad-based buying as?nine of 11 sectors were trading?higher.??The energy sector was?the best performer with 2.5% gain,?owing to rebound in crude oil prices. Material sector also rose over 2%, tracking rise in commodity prices. Among others, financial, utilities, A-REIT and industrials were among leading gainers.
Meanwhile, tech was the worst performing sector with a 3.5% loss, tracking overnight losses in the US counterpart, NASDAQ. The telecom sector was also down 0.8%.
The?best performing stock?on the ASX pack was blue chip miner Fortescue Metals Group (ASX:FMG), which traded higher by 8%. The gainers’ chart was dominated by iron ore mining stocks such as Champion Iron (ASX:CIA), BHP Group (ASX:BHP), and Rio Tinto (ASX:RIO). Australian property group Mirvac (ASX:MGR) was also among top five gainers on the ASX.
On the losing side, motor vehicle servicing provider Bapcor (ASX: BAP) topped the chart by falling 8.2% by mid-session. The other top laggards were software business WiseTech Global (ASX: WTC), buy now, pay later major Afterpay (ASX: APT), and gold miners Silver Lake Resources (ASX:SLR) and Ramelius Resources (ASX: RMS).
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23rd Nov 02:26 PM AEDT
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23rd Nov 02:22 PM AEDT
Genworth (ASX:GMA) announces on-market share buy-back, shares trade strong
The ASX-listed money lending insurance provider Genworth Mortgage Insurance Australia Limited (ASX:GMA) announced that the Company would initiate an on-market share buyback from 8 December 2021 to a maximum aggregate value of AU$100 million.
GMA will issue 45.9 million ordinary shares under this share buyback initiative. However, GMA's total number of shares to be purchased remains subject to GMA's business, market conditions, the prevailing share price, market volumes, and other conditions. Yet, the Company will not buy back more than 10% of its ordinary shares without shareholder approval.
Meanwhile, on the ASX, the GMA stock was spotted trading 5.045% higher at AU$2.290 per share at 1:15 PM AEDT.
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23rd Nov 02:09 PM AEDT
Resonance (ASX:RHT) files additional Australian patents; shares rise
The ASX-listed healthcare firm Resonance Health Limited (ASX:RHT) announced that it has further filed two Australian provisional patent applications, including the application of novel Antisense Oligonucleotides for treating human diseases. This announcement was followed by the Company’s ASO R&D announcements made last on 21 September 2021.
The two new provisional patents precisely covers:
- Method for Treating Cyclophilin B and other related diseases.
- Method for Treating Cyclophilin D and other related diseases.
Meanwhile, on the ASX, the RHT stock was spotted trading 9.999% higher at AU$0.110 per share at 12:33 PM AEDT.
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23rd Nov 02:09 PM AEDT
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23rd Nov 01:50 PM AEDT
Proteomics (ASX:PIQ) signs a new deal; shares gain
Image source: Pexels
The ASX-listed healthcare firm Proteomics International Laboratories Ltd (ASX:PIQ) announced that it has entered into a distribution agreement with Apacor Limited. The agreement will allow PIQ to sell its PromarkerD test to diabetic kidney disease patients across Great Britain, Scotland and Wales.
Approximately 4.8 million people, or 7% of the British population, live with diabetes. Therefore, it’s an excellent opportunity for PIQ as its PromarkerD could help these people fight their diabetes.
Meanwhile, on the ASX, the PIQ stock was spotted trading 9.999% higher at AU$0.990 per share at 12:06 PM AEDT.
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23rd Nov 01:50 PM AEDT
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23rd Nov 01:25 PM AEDT
European Lithium (ASX:EUR) commences trading on OTCQB
The ASX-listed lithium explorer European Lithium Limited (ASX:EUR) announced that the Company has listed itself on the US trading platform OTCQB. As a result, its shares are now quoted on the same.
European Lithium will be traded under the symbol EURIF on the OTCQB. The Company has further shared that OTCQB listing will offer direct access to US-based institutional and retail investors to invest in EUR with projects in Europe.
Meanwhile, on the ASX, the EUR the stock was spotted trading 3.449% lower at AU$0.140 per share at 12:21 PM AEDT.
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23rd Nov 01:18 PM AEDT
Crude oil climbs up on indication that OPEC+ could reassess output
Rising oil prices | Source: © Designer491 | Megapixl.com
Crude oil prices rose on Monday recording gains on previous losses on the news that OPEC along with its allies may rethink their plans of increasing production if leading economies release crude oil from their strategic reserves or if coronavirus pandemic dampens demand. January delivery Brent Crude oil futures last traded at US$79.47 per barrel down 0.04%, whereas January delivery WTI crude oil futures traded 0.36% down at US$76.47 per barrel as of 23 November 2021 at 12:01 PM AEDT.
The prices of both the benchmarks tumbled more than US$1 per barrel during the early trading sessions to reach the lowest level since 1 October 2021.
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23rd Nov 01:17 PM AEDT
Link (ASX:LNK) to earn consistent revenue in FY22
The ASX-listed software and service company Link Administration Holdings Limited (ASX:LNK) released its FY22 guidance stating that year-to-date trading has been strong and has exceeded expectations.
The Company stated in its guidance to achieve low single-digit revenue growth and operating income before interest and tax broadly in line with FY21 with a positive outlook.
Moreover, the Company has also mentioned that Carlyle Group, which has initially proposed to acquire LNK, have now gained access to virtual data and the Q&A process. It has also been given access to LNK’s executive leadership team.
Meanwhile, on the ASX, the LNK stock was spotted trading a tad higher at AU$4.920 per share at 11:45 AM AEDT.
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23rd Nov 01:17 PM AEDT
American Pacific (ASX:ABR) completes A$37M share placement
The ASX-listed fertilizer developer American Pacific Borates Limited (ASX:ABR) announced that it has completed raising AU$37 million through a share placement priced at AU$2.10 per share from three global institutional investors.
ABR would use the raised funds to strengthen its balance sheet ahead of its US listing, upgrade its value engineering program, bankable feasibility study and construct the Fort Cady boron facility in Southern California for general corporate purposes.
Meanwhile, on the ASX, the ABR stock was spotted trading 7.5% lower at AU$2.220 per share at 11:15 AM AEDT.
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23rd Nov 01:15 PM AEDT
Life360 (ASX:360) signs agreement to fully acquire Tile
Image Source: Pexels
ASX-listed Company which operates in the digital consumer subscription services market, Life360 (ASX:360) shared on 23 November 2021 that the Company has entered into a binding agreement to acquire 100% of San Mateo (California) based Tile, Inc. This strategic acquisition involves a purchase price of approximately US$170.0 million in addition with US$35.0 million in retention awards for Tile employees, representing total consideration of around US$205.0 million.
The combination of Life360, the leading family safety platform, and Tile, the market leader in finding things, creates an integrated market leader in location solutions for all life stages, facilitating a seamless experience for families that integrates people, pets and things.
The announcement also revealed that Life360 will undertake a fully underwritten equity raising, comprising an accelerated non-renounceable entitlement offer of new Life360 CDIs; and an approximately AU$160.2 million placement of new Life360 CDIs to institutional investors.
Today, the stock 360 was spotted trading at AU$13.510 per share on ASX at 11:10 AM AEDT.
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23rd Nov 11:36 AM AEDT
Why is Brickworks (ASX:BKW) in news today?
The ASX-listed building product developer Brickworks Limited (ASX:BKW) announced trading update in its annual meeting and shared the same on Tuesday. The Company discussed its expected margin pressure within the North America portfolio from various areas such as transport, input cost and labour.
The Company believes that its annual earnings in North America in FY22 will benefit from prior plant rationalisation and upgrade works. Moreover, sales, marketing and acquisition of IBC would also contribute to earnings in FY22.
BKW also expected another solid half of its property trust business and stable growth income from 26% interest in WHSP. The Company has also improved its sales momentum in Australia and is about to experience an elevated period of activity for the rest of the financial year.
Meanwhile, on the ASX, the BKW stock was spotted trading a tad lower at AU$23.170 per share at 10:51 AM AEDT.
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23rd Nov 11:05 AM AEDT
Bapcor’s (ASX:BAP) CEO Darryl Abotomey to retire
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ASX-listed Australia-based company engaged in the automotive aftermarket business, Bapcor Limited (ASX:BAP) announced on Tuesday that the Chief Executive Officer and Managing Director Darryl Abotomey will retire on 28 February 2022. The announcement revealed that Abotomey will be available to the company till 30 June 2022 to support an orderly transition.
Today’s announcement revealed that an extensive global search process has started to appoint a permanent CEO.
Bapcor stated that if a permanent CEO is not appointed by the time Abotomey retires, the Company’s Non-Executive Director Mark Powell will take charge of Acting CEO. Besides, while noting the company’s record full-year FY21 results, BAP has confirmed that there is no change to previously issued financial guidance.
Today, the stock BAP was spotted trading 8.849% lower at 7.520AU$ per share on ASX at 10:47 AM AEDT.
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23rd Nov 10:57 AM AEDT
ASX 200 rises; BHP, Woodside top gainers
The ASX 200 opened higher on Tuesday, up 5.70 points to 7,358.80 despite US shares ending lower. The domestic sentiment may be buoyed by gains from AU$41 billion merger deal between BHP and Woodside.
The sentiment may also be higher on account of re-nomination of Federal Reserve Chair Jerome Powell for a second term. However, COVID-19 restrictions in Europe could weight on the benchmark.
The index has lost 0.83% for the last five days but sits 3.59% below its 52-week high. On Monday, the benchmark index fell 0.6% to 7,353.1 points.
On Monday, speculation over Powell’s second term ended after US President Joe Biden renominated him as the Fed chair. Powell had kept the interest rate intact despite clamour for a hike due to rising inflation.
On Wall Street, the S&P 500 declined 0.32% to 4,682.94. The Dow Jones was up 0.05% to 35,619.25. The NASDAQ Composite was down 1.26% to 15,854.76, and the small-cap Russell 2000 fell 0.50% to 2,331.35.
As of 10:30 AM AEST, the ASX 200 trading at 7,378.80, up 0.35%. The ASX All Ordinaries index was trading up 0.245%. The A-VIX shot up 6.76%.
Woodside advanced 3.8%, while BHP rose 3.4%.
On the other hand, Fortescue rose 6.7%, Rio Tinto rose 3.3%, Mineral Resources climbed 2.4% and Champion Iron surged 2.4%.
Bapcor fell 8.6%, TechnologyOne fell 4.6% and Afterpay was down 4.5%.
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23rd Nov 10:33 AM AEDT
ASX 200 to rise on Powell’s nomination
Australian shares are expected to open higher on Tuesday, possibly buoyed by positive sentiment after the nomination of Federal Reserve Chair Jerome Powell for a second term. However, COVID-19 restrictions in Europe could pull down the benchmark.
According to the latest SPI futures, the ASX 200 is likely to open the day 7 points or 0.1% higher. On Monday, the benchmark index fell 0.6% to 7,353.1 points.
A number of ASX-listed companies are scheduled to hold their annual general meetings including Brickworks Ltd, Link Administration Holdings Ltd, Monadelphous Group Ltd, and Pro Medicus Ltd.
On Wall St (near 3.30 PM in New York), the Dow Jones was up 0.8%, the S&P 500 was up 0.7%, but the NASDAQ was down 0.2%. The S&P 500 and NASDAQ hot all-time highs after US President Joe Biden nominated Federal Reserve Chair Jerome Powell for the second term.
On the other hand, the pan-European STOXX 600 index finished flat. MSCI gauge of European shares fell 0.65%. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.11%.