Hi, you are watching Kalkine TV live from Sydney. This is The Buzzing Trends show. Lets get started with today’s important news that could impact markets.
• The S&P/ASX200 is up today, gaining 79.80 points to 7174.70. Strong U.S. economic data solidified hopes of continuing economic recovery, while a rebound in iron ore is expected to boost blue-chip local miners.
• According to the US Labor Department, the number of Americans filing new claims for unemployment benefits decreased to 406,000 for the week ended 22 May, the lowest since mid-March 2020. As layoffs subsided, the companies were looking for workers to meet the rising demand unleashed by the reopening of the economy.
• Keolis Downer has been awarded a AU$ 900 million contract to operate and maintain bus services in Northern Beaches and lower North Shore.
• BetMakers will pay AU$ 1 billion in cash and will issue its own shares worth AU$ 3 billion for the deal.
• An Australian based financial service company also doing business in New Zealand, Latitude Group updated the market with the guidance for the 6 months ending 30 June. NPAT is expected to be between AU$ 115 million to AU$ 120 million, whereas Volume is expected to be AU$ 3.7 billion.
• MMA Offshore Limited, a company which specialise in providing a comprehensive suite of marine and subsea services to the offshore energy and wider maritime industries, has entered into a subleasing contract with a subsidiary of Wasco Energy Ltd (WASCO).
• The shares of American movie theater chain, AMC Entertainment Holdings Inc (NYSE:AMC), surged 47% on Thursday, as speculative trading by Reddit-obsessed day traders spiked. However, at the end of day’s trade, it closed at US$26.52 a piece – down 35.58%. With yesterday’s spike in prices, the week-to-date returns on shares have jumped to 120%.