The Mid Market Pulse || BHP, Rio Propel ASX To New High; What Caused A Rally In Material Stocks?

The show guages the pulse of the market and trends that emerge by mid-day, along with providing the commodity and crypto charter, besides market gainers/losers. Watch The Mid-Market Pulse on Kalkine TV and stay updated.

• Shares of online furniture retailer Temple & Webster Group surged over 7 per cent on strong earnings. The company reported 85 per cent growth in revenue to AU$326.3 million for the full financial year ending 30 June 2021. 

• Mining and construction services provider NRW Holdings’ shares rose over 1 per cent on securing two contracts.The company said it has bagged two contracts with a combined contract value of around AU$90 million. 

• The share price of Oil Search was up 1 per cent after the company maintained its guidance for financial year 2021.

• Shares of Japara Healthcare rallied over 18 per cent after its board backed takeover bid by Calvary. The company said it has entered into a scheme implementation deed with Little Company of Mary Health Care also known as Calvary for the acquisition of issued shares in Japara. 

• Shares of Rio Tinto gained 1.5 per cent after the world's leading miner lowered Canada aluminum production. The company has taken this decision after it failed to agree on a new collective labour agreement with a local union.

• The share price of BlueScope Steel climbed over 3 per cent on strong earning guidance. The steel producer expects preliminary unaudited underlying earnings before interest and tax for financial year 2021to be approximately AU$1.72 billion. 

• Shares of SomnoMed rose over 6 per cent after the company reported rise in quarterly revenue. For the June quarter, the sleep-related treatment solutions provider reported 91 per cent jump in unaudited revenue, compared to year-ago period.

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