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7^th Feb 09:04 PM AEDT

7^th Feb 09:00 PM AEDT

7^th Feb 07:43 PM AEDT

Douugh’s (ASX:DOU) Early Pay to boost revenue growth

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The banking super app Douugh Ltd (ASX:DOU) today announced the launch of its Early Pay feature for its US customers.

Meanwhile, the scrip closed 1.92% lower at AU$0.051 per share on Monday.

While the traditional US banks process direct deposits within two business days, DOU’s Early Pay feature enables the customers to receive their paycheck up to days early.

Moreover, DOU’s Early Pay feature will enable its customers to sort out their budget via Autopilot ahead of their pay cycle. The feature is useful when some rent or car payment is due.

Using the Autopilot feature, customers will instantly and easily allocate funds to make timely payments, avoid overdraft fees, and improve their credit score.

With this feature, the company intends to improve the current growth rate of deposits and card spend. Hence, the company focuses on improvising the activation rates of its pre-existing customers.

As per the company, the Early Pay feature is likely to add significant value to its revenue growth.

7^th Feb 07:42 PM AEDT

7^th Feb 07:38 PM AEDT

7^th Feb 07:32 PM AEDT

7^th Feb 07:26 PM AEDT

Telix Pharmaceuticals’ (ASX:TLX) Illuccix receives extension for EU regulatory review

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Biopharmaceutical company, Telix Pharmaceuticals Limited (ASX:TLX) has received a review period extension to the review process for the market authorisation application (MAA) for its product – Illuccix in Europe. The Danish Medicines Agency (DKMA) has provided the extension notification.

After getting the extension, the company gets sufficient time to complete the pending Information Requests (IRs) to comply with European Pharmacopeia. The company could not meet the original deadline of 23 March due to Covid-19 and the unexpected delay in the process.

Now Telix has time till 9 August 2022 to provide responses to the questions asked during the European regulatory review process. Telix said that it would try to provide responses by 10 May. The company cannot request a further time extension.

The product approval in the EU market will not impact the product launch in the US market, which is scheduled for launch in early Q2.

It is worth noting that delay in the EU approval will have an impact on Telix’s revenue (approximately AU$1.5m – 1.9m) expectation for the financial year 2022.

Meanwhile, TLX shares closed AU$6.810 per share, with a market cap of AU$2.09 billion.

7^th Feb 07:18 PM AEDT

Corum Group (ASX:COO) signs a long-term deal with ProPharma and Symbion

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Australian software and service company, Corum Group Limited (ASX:COO) signs a long term deal with leading wholesalers of New Zealand and Australia, ProPharma and Symbion, to continue the using PharmX platform for their wholesale business in New Zealand and Australia.

The initial term of the agreement is three years and two years is the rolling term, effective from 1 January 2022.

Corum Group said that the agreement is followed by the additional investment done by the company in PharmX.

Meanwhile, COO shares closed 5.55% higher at AU$0.066 with a market cap of AU$37.59 million.

7^th Feb 07:11 PM AEDT

7^th Feb 06:58 PM AEDT

IPD Group (ASX:IPG) reports 54% increase in revenue in H1FY22

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Electrical equipment national distributor and service provider, IPD Group Limited (ASX:IPG) shares the H1FY22 results and full-year earnings guidance for FY22, ending 30 June 2022.

The trading results for H1FY22 are,

54% increase in revenues on PCP (prior corresponding period) to AU$81.7 million.
38% increase in EBITDA on PCP to AU$8.8 million.
60% increase in EBIT on PCP to AU$7.0 million.

The changes in the statutory guidance for FY22 full year,

Increase in the EBITDA statutory forecast from AU$16 million to AU$17.6 – AU$18.4 million.
Increase in the EBIT statutory forecast from AU$12.4 million to AU$13.4 – AU$14.3 million.

Meanwhile, IPG shares closed 15.415% high, at AU$1.460 with a market cap of AU$109.15 million.

7^th Feb 06:58 PM AEDT

7^th Feb 06:33 PM AEDT

Scorpion Minerals (ASX:SCN) acquires Poona Project

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Australian copper explorer, Scorpion Minerals Limited (ASX:SCN) has completed due diligence activities to acquire four tenements from eMetals Limited (ASX:EMT). The four tenements are termed as Poona Project, which covers 904km square in the Murchison Goldfield, WA.

SCN will issue 4,000,000 fully paid ordinary shares to EMT and AU$12,500 cash payment for finishing 100% acquisition of the tenements. In addition to this, EMT will receive a 0.5% NSR (net smelter return) royalty based on the minerals mined from the Poona Project, should commercial mining be conducted.

Following the news, EMT share closed at AU$0.019 (no change) with a market cap of AU$16.15 million.

7^th Feb 06:31 PM AEDT

7^th Feb 04:43 PM AEDT

7^th Feb 04:31 PM AEDT

Australian international border to reopen for tourists

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Australian prime minister, Scott Morrison announced the reopening of the international borders for all the visa holders who are fully vaccinated from February 2021.

Since mid-December, international borders have been reopening progressively, beginning with the return of permanent residents, family members of citizens, international students, migrant workers and backpackers.

Australian tourism sector will be lively again almost after two years.

Double vaccination proof is mandatory for entering the Australian borders, and the state government cap for unvaccinated travelers is still applicable.

7^th Feb 03:36 PM AEDT

Harmoney (ASX:HMY) announces new AU$15M warehouse facility

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Harmoney Corp Limited (ASX:HMY) has further diversified its warehouse facilities with three of the big four Australian banks.

The stock traded 0.630% higher at AU$1.595 per share at 2:00 PM AEDT today.

HMY is now funded by three big four Australian and NZ banks with several mezzanine lenders. This provides HMY with a highly diversified and cost-effective funding base for continued growth.

As per the release, the company has further diversified its warehouse debt facility supported by another new mezzanine lender. The new AU$150 million facility will provide additional capacity for the company to continue advancing its growth in the Aussie market.

Meanwhile, this new warehouse facility will further build HMY’s first asset-backed securitisation deal.

HMY is witnessing a rapid new customer origination growth in its Australian business, up 452% on pcp. Its’s 100% direct consumer platform is now proving HMY’s international capabilities in the larger Australian market.

7^th Feb 03:18 PM AEDT

Why is Stanmore Resources (ASX:SMR) in the limelight

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Metallurgical coal producer, Stanmore Resources Limited (ASX:SMR) shared an update on the acquisition of BHP’s Group 80% interest in BHP Mitsui Coal Pty Ltd (BMC). On 8 November 2021, SMR announced its plan to acquire BMC, for which it will pay AU$1.62 billion in consideration, and AU$202.9 million follow up payment, dependent upon the coal prices.

PS Dian Swastatika Sentosa Tbk (DSS) is a major shareholder in Golden Energy and Resources, the parent company of Stanmore. The previous year (31 December 2021), the company informed that DSS would hold an Extraordinary General Meetings of Shareholders (EGMS) to gain approval on acquisition. Today, the company said that EGMS has been postponed and will update the date once it is finalised.

Stanmore expects to gain all the approvals this month and complete the acquisition by mid-CY2022.

Meanwhile, SMR shares are up by 2.56% to trade at AU$1.20 with a market cap of AU$316.37 million.

7^th Feb 03:13 PM AEDT

7^th Feb 02:30 PM AEDT

BNK Banking (ASX:BBC) completes the sale of Finsure Holdings

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BNK Banking Corporation Limited (ASX:BBC) has completed the sale of its 100% owned subsidiary, Finsure Holding Pty Ltd.

As per the release, the company has completed the transaction today, satisfying all the conditions related to the Share Sale Agreement.

BNK gained nearly AU$100 million (before tax) via the sale proceeds of AU$152.2 million. This includes AU$7.2 million of Finsure cash reflective of the cash adjustment under the agreement.

The company expects to announce distribution regarding a material portion of the Finsure sale proceeds in the third quarter of CY2022.

Meanwhile, the stock was spotted trading 1.588% lower at AU$1.240 per share at 1:51 PM AEDT.

7^th Feb 02:16 PM AEDT

Why are Melbana (ASX:MAY) shares trading over 37% strong today

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Melbana Energy Limited (ASX:MAY) share price jumped over 37% on the ASX as it came up with the Alameda drilling operations update in Cuba today (7 February).

The drilling updates have stated that its drilling operations have reached 3,590m starting from 3,000m indicating a potential gross reservoir interval of 500m measured depth. MAY has observed a better gas behaviour than expected, and the existence of significant oil shows on the shale shakers and in cutting samples.

MAY expects that logging the section will help it to understand the encountered hydrocarbons better. The preparation of logging in is currently under process.

Meanwhile, on the ASX, the MAY stock was spotted trading 37.837% higher at AU$0.051 per share at 1:54 PM AEDT.

7^th Feb 02:14 PM AEDT

7^th Feb 02:03 PM AEDT

7^th Feb 01:32 PM AEDT

Balkan Mining (ASX:BMM) to expand its portfolio via Saski do acquisition

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The shares of Balkan Mining and Minerals Ltd (ASX:BMM) are grabbing the spotlight today after the company announced its portfolio expansion.

The scrip traded 3.80% higher at AU$0.410 per share at 12:00 PM AEDT today.

As per the release, BMM has entered into a conditional agreement to acquire Sandfire Resources Limited’s (ASX:SFR) “Saski do” exploration permit application in Bosnia and Herzegovina.

The Saski do Application lies adjacent to the Vares project.

As per the sale and purchase agreement, BMM will acquire 100% of the issued shares of Sandfire’s wholly owned subsidiary -EMEA pty Ltd.

EMEA holds all the issued shares in Bosnian and Herzegovinian subsidiary - Triassic Resources, which owns the Saski do Application.

Moreover, BMM will also issue Sandfire fully paid ordinary shares of AU$250,000 in the capital of BMM, at an issue price of AU$0.38971 per share, equating to 641,503 fully paid shares.

On completion of the acquisition, Sandfire’s stake in the BMM will increase to 22.7% from 21.72%.

This acquisition strategically expands BMM’s critical green metal assets portfolio as it covers some areas of highly prospective polymetallic Tethyan Metallogenic Belt.

7^th Feb 01:32 PM AEDT

Respiri (ASX:RSH) signs agreement with Access Telehealth

e-Health SaaS company, Respiri Limited (ASX:RSH) has entered into a distribution and marketing partnership with Access Telehealth, a Remote Patient Monitoring (RPM), telehealth and chronic care provider. It is a 5-year agreement with no upfront payments with small minimum order quantities.

With the patient engagement business model of Access, Respiri will launch its wheezo Remote Asthma Monitoring Program (RAMP) in the USA. Moreover, the combination of Access and wheezo is an attractive offering for physicians.

Moreover, RSH informed that the company had made significant progress in the US commercialization pathway in a short time.

It is a second RPM agreement of RSH.

Following the announcement, RSH shares are trading at flat AU$0.052 per share, with a market cap of 37.58 million.

7^th Feb 01:31 PM AEDT

Oil rises on supply disruptions amid icy weather in the US

Crude oil prices further rose on Monday after hitting seven-year high levels on Friday amid ongoing concerns related to supply disruptions coupled with a freezing weather condition in the US. The prices were additionally fuelled by ongoing political unrest among major oil producers.

Both the oil benchmarks rose staggeringly in the last week with Brent and WTI ending the week 3.6% and 6.3% higher respectively.

The prices rose a day earlier too following the decision of OPEC and its allies to carry forward their plan of increasing the output for the coming months.

April delivery Brent Crude oil futures last traded at US$93.81 per barrel up 1.11%, whereas March delivery WTI crude oil futures traded 0.21% up at US$92.50 per barrel as of 7 February 2022 at 12:45 PM AEDT.

The prices were also buoyed by limited supplies from the world’s leading oil producers.

The significant rise in the prices of crude oil in the last few days is based on expectations that world oil supplies would not be enough to fulfil the rising demand.

The recent rally in crude oil is linked to extreme cold conditions in the US bringing icy conditions, particularly in Texas, causing production to temporarily shut.

7^th Feb 12:28 PM AEDT

Why are Argo (ASX:ARG) shares grabbing the spotlight today?

The shares of Argo Investments Limited (ASX:ARG) have been grabbing the spotlight today after the company announced its dividend.

The stock was spotted trading 0.202% up at AU$9.920 per share at 12:00 PM AEDT today.

As per the release, the company will pay fully franked interim dividend at a price of 16 cents per share on 11 March 2022. This is a 14% increase from the previous corresponding period.

The company will allot these shares at a 2% discount to the market price of Argo shares. This will be the volume-weighted average ex-dividend market price of the shares traded on the record date, i.e., 21 February 2022 and the three business days following the record date.

Meanwhile, Argo also reported an interim profit of AU$129 million for the half-year ended on 31 December 2021, up 91.5% on pcp. ARG’s earnings per share (EPS) also jumped 91.4% to 9.3 cents and the net tangible assets increased by 18.9% to AU$8.01 for the period.

7^th Feb 12:21 PM AEDT

CIMIC’s (ASX:CIM) UGL secures A$185M contract with Snowy Hydro

CIMIC Group Limited (ASX:CIM) shared today that its UGL has secured a utility contract with Snowy Hydro Limited.

CIMIC provides mining, construction, maintenance and operations services to the infrastructure. UGL Limited is an end-to-end asset solution company of CIMIC.

Under the utility contract, UGL will be constructing a 660MW power generation plant at the Hunter Power Project, located in New South Wales.

CIMIC informed that the project will generate AU$185 million revenue in two years and is expected to commence this year.

The plant will comprise two heavy-duty F-class gas turbine generators and related axillaries. They operate on dual fuel resources.

Compared to traditional generation techniques, gas turbines generators can run on hydrogen; therefore, it plays a crucial role in reducing carbon emissions.

Meanwhile, CIM shares are 1.489% lower, trading at AU$16.550 per share at 11:45 AM AEDT on the ASX.

7^th Feb 12:04 PM AEDT

ASX 200 opens in red; Magellan tumbles over 10% as CIO goes on leave

The Australian share market opened on a lower note on Monday, following a downturn in global equities on Friday night after a surge in US Treasury yields amid positive jobs data from the United States. The benchmark ASX 200 index fell 0.44% or 31 points to 7,066 in the first 15 minutes of trading.

On Friday, the Dow Jones Industrial Average ended the session in red, falling 0.06% to 35,089.74, while the S&P 500 gained 0.52% to 4,500.53. The NASDAQ Composite surged 1.58% to 14,098.01.

As of 11:00 AM AEDT, the ASX 200 tumbled further by 0.9% or 64 points and was trading at 7,056.2, while the ASX All Ordinaries index was down 0.81% to 7,359. The A-VIX shot up by 10.76% to 16.27.

Coming to the top losers, Magellan Financial Group Limited (ASX:MFG) took a hit of 10.04% to AU$16.65, followed by Unibail-Rodamco-Westfield CDI (ASX:URW) which fell 4.87% to AU$5.07. On the flip side, Graincrop Limited (ASX:GNC) rallied 15.53% over strong earnings guidance for FY22, followed by Elders Limited (ASX:ELD) which gained 6.19%.

7^th Feb 10:53 AM AEDT

ASX 200 to fall despite S&P 500, NASDAQ closing higher

The Australian share market is expected to begin the week on a muted note despite a positive finish on Wall Street on Friday.

According to the latest SPI futures, the ASX 200 might open 41 points or 0.6% lower. Last Friday, the benchmark index rose 0.6% to 7,120.2 points.

On Wall Street, the Dow Jones fell 0.05%, the S&P 500 closed up 0.5%, and the NASDAQ stormed 1.6% higher. Investors took cues from the upbeat labor data and Amazon.com Inc’s (AMZN) strong fourth quarter results the day before.

US nonfarm payrolls increased by 467,000 in January, suggesting an improvement in the labor market. Labor Department’s latest report on Friday also showed that the US economy added 709,000 more jobs in November and December.

In Europe: Stoxx 50 fell 1.3%, FTSE declined 0.2%, CAC dipped 0.8% and DAX ended 1.8% lower.

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