Commonwealth Bank Of Australia (CBA):
Commonwealth Bank has cut customers’international transfer fees by as much as 70 per cent. Customers making an international money transfer using the bank’s mobile applications will now pay $6 on exchange transfers equal to or under a $1000 threshold and $12 for those over, down from a blanket $22 previously. The move comes shortly after CBA along with other major lenders cut ATM fees for non-customers. CBA remains the focus of a federal-court case centred on allegations of noncompliance with money laundering measures brought against it by financial intelligence agency Austrac.
Echo Resources Ltd (EAR):
WA minerals explorer Echo Resources is seeking to raise $15 million via a share placement. The offer price of 22¢ apiece represents a 17 per cent discount to the last close and a 6.8 per cent discount to the five-day volume-weighted average price. Canaccord Genuity is managing the deal. The shares, which have risen 20 per cent year-to-date, are expected to come out of a trading halt on Wednesday. Echo is an ASX listed gold exploration business "with a large and highly prospective ground position in the Eastern Goldfields of Western Australia," a term sheet sent to investors said. Its "strategic focus is on the dominant Yandal greenstone belt holdings which is home to a number of million ounce gold deposits. “Echo’s The company launched a placement to raise up to $5 million through Argonaut Securities. Elsewhere in mining, Aesir Capital Pty and Hartleys were in the market on Tuesday, seeking to raise $3.9 million for Celsius Resources.
Medadvisor Ltd (MDR):
Digital medication management company MedAdvisor is set to announce today a $9.5 million investment boost from EBOS Healthcare, a move chief Robert Read says will turbocharge growth. Mr Read said the money from EBOS would accelerate growth plans at MedAdvisor, which helps people manage their medication, and is said to drive adherence by up to 20 per cent. “It is a significant transaction, which can turbo charge our business,” he said.
Mirvac Group (MGR):
Property developer Mirvac has reaffirmed its guidance for earnings to grow by six to eight per cent in the current financial year. Operating earnings per share is expected to be 15.3 to 15.6 cents per stapled security, while distribution is likely to increase six per cent to 11 cents per security. The company, in a first quarter operational update, says it has maintained solid metrics across its office, industrial and retail portfolios, while earnings in the residential segment will be skewed to the second-half of the fiscal year.
Myer Holdings Ltd (MYR)：
Solomon Lew has threatened to call an extraordinary general meeting to get two seats on Myer's board, after the undersiege department rebuffed his request earlier this month. In a statement to the ASX on Tuesday morning, Premier - which owns the Smiggle, Just Group, and Peter Alexander brands and 10.8 per cent of Myer - said it had no "current" intention of making a takeover bid for Myer. Myer then appointed Julie Ann Morrison to the board six days later. In pointed wording, Premier's described Ms Morrison as a former company director of Myer's "failed" Sass & Bide business.Myer shares edged up 0.3 per cent while Premier Investments rose 0.8 per cent.
Nufarm Ltd (NUF):
Nufarm has struck a deal to buy a $627m crop portfolio from Adama Agricultural Solutions and Syngenta Crop Protection. Assets include over 50 crop protection formulations and more than 260 registrations in European markets, while Nufarm will also purchase additional inventory for $64 million. European vendors initiated the divestment following Syngenta’s recent acquisition by ChemChina and in accordance with European Commission requirements, says Nufarm. The deal is subject to approval by the Commission and regulatory clearance by relevant European authorities.
New Century Resources Ltd (NCZ):
Credit Suisse analysts have set a $2.40 target price on New Century, which is aiming to retreat the old tailings at the mothballed Century zinc mine in Queensland. That’s compared to the company’s share price at the time of the research report’s release of $1.43. “New Century, in our view, presents an opportunity to acquire equity in a low capital, low cost, and low operating risk zinc mine, at an entry price well below our assessed intrinsic value,” the analysts wrote. Credit Suisse’s analysts were the first of the big firms to start detailed coverage of Syrah, and the bank ended up picking up a stack of work raising several hundred million in equity for the company. There may not be the same opportunity for Credit Suisse this time around though. New Century recently announced that big North American resources fund Sprott had offered it $US45m in debt funding, which should cover much of the forecast restart costs.Shares in New Century hit a fresh all-time high of $1.545 in early afternoon trade, taking its market capitalisation to as much as $460 million.NCZ last up 6.3pc on $1.52.
Rio Tinto Ltd (RIO):
Rio Tinto is facing a class-action suit lodged by shareholders of it’s American Depository Receipts in a US district court over allegedly “false and misleading statements” around the true value of a unit in Mozambique, according to Bloomberg. Rio and two former executives were charged by the US Securities and Exchange Commission in US Federal Court last week, the body bringing forward allegations in relation to the impairment of Mozambique assets bought by the company for $US3.7bn and later sold for $US50m.
Wattle Health Australia Ltd (WHA):
Infant formula group Wattle Health's share price has soared eight times higher than its issue price in just six months while ASX rival Bubs Australia is also surging again as renewed buoyancy about the China market spills over into smaller players. Wattle Health's market capitalisation has ballooned to an extraordinary $232 million with itssharesjumping to $1.70 after a modest float in mid-March when it had an issue price of 20¢. This is despite its sales revenue being just $928,426 in 2016-17.Much of the positive sentiment stemmed from a deal struck in early July where Wattle was part of a consortium with Hong Kong financial firm Masons, part of the broader Genius Link Asset Management group, which acquired 80 per cent of Melbourne infant formula manufacturing facility Blend and Pack. Wattle has now finalised its 5 per cent stake in Blend and Pack, which has the capacity to produce 20 million tins of infant formula annually .
Westpac Banking Corporation (WBC):
Westpac, the nation's second-largest lender, is launching an aggressive pitch to first-time home buyers and investors with two-year discounts of up to 115 basis points on its flagship products. Bank of Melbourne, BankSA and St George Bank are also cutting fixed rates on two-year residential investment and owner-occupier principal and interest 2-20 basis points. It comes as lenders step up their campaigns for the peak spring residential selling season before the market begins to slow for Christmas, New Year and January holidays.They are also targeting a revival in first-time home buyers encouraged by state government stamp duty cuts, cash incentives and less competition from investors and overseas buyers. Other lenders are expected to roll out competing offersin coming daysthrough either advertised rates or encouraging mortgage brokers, who act as intermediaries between borrowers and lenders, to offer bigger incentives.
(Source: AIMS)
Commonwealth Bank has cut customers’international transfer fees by as much as 70 per cent. Customers making an international money transfer using the bank’s mobile applications will now pay $6 on exchange transfers equal to or under a $1000 threshold and $12 for those over, down from a blanket $22 previously. The move comes shortly after CBA along with other major lenders cut ATM fees for non-customers. CBA remains the focus of a federal-court case centred on allegations of noncompliance with money laundering measures brought against it by financial intelligence agency Austrac.
Echo Resources Ltd (EAR):
WA minerals explorer Echo Resources is seeking to raise $15 million via a share placement. The offer price of 22¢ apiece represents a 17 per cent discount to the last close and a 6.8 per cent discount to the five-day volume-weighted average price. Canaccord Genuity is managing the deal. The shares, which have risen 20 per cent year-to-date, are expected to come out of a trading halt on Wednesday. Echo is an ASX listed gold exploration business "with a large and highly prospective ground position in the Eastern Goldfields of Western Australia," a term sheet sent to investors said. Its "strategic focus is on the dominant Yandal greenstone belt holdings which is home to a number of million ounce gold deposits. “Echo’s The company launched a placement to raise up to $5 million through Argonaut Securities. Elsewhere in mining, Aesir Capital Pty and Hartleys were in the market on Tuesday, seeking to raise $3.9 million for Celsius Resources.
Medadvisor Ltd (MDR):
Digital medication management company MedAdvisor is set to announce today a $9.5 million investment boost from EBOS Healthcare, a move chief Robert Read says will turbocharge growth. Mr Read said the money from EBOS would accelerate growth plans at MedAdvisor, which helps people manage their medication, and is said to drive adherence by up to 20 per cent. “It is a significant transaction, which can turbo charge our business,” he said.
Mirvac Group (MGR):
Property developer Mirvac has reaffirmed its guidance for earnings to grow by six to eight per cent in the current financial year. Operating earnings per share is expected to be 15.3 to 15.6 cents per stapled security, while distribution is likely to increase six per cent to 11 cents per security. The company, in a first quarter operational update, says it has maintained solid metrics across its office, industrial and retail portfolios, while earnings in the residential segment will be skewed to the second-half of the fiscal year.
Myer Holdings Ltd (MYR)：
Solomon Lew has threatened to call an extraordinary general meeting to get two seats on Myer's board, after the undersiege department rebuffed his request earlier this month. In a statement to the ASX on Tuesday morning, Premier - which owns the Smiggle, Just Group, and Peter Alexander brands and 10.8 per cent of Myer - said it had no "current" intention of making a takeover bid for Myer. Myer then appointed Julie Ann Morrison to the board six days later. In pointed wording, Premier's described Ms Morrison as a former company director of Myer's "failed" Sass & Bide business.Myer shares edged up 0.3 per cent while Premier Investments rose 0.8 per cent.
Nufarm Ltd (NUF):
Nufarm has struck a deal to buy a $627m crop portfolio from Adama Agricultural Solutions and Syngenta Crop Protection. Assets include over 50 crop protection formulations and more than 260 registrations in European markets, while Nufarm will also purchase additional inventory for $64 million. European vendors initiated the divestment following Syngenta’s recent acquisition by ChemChina and in accordance with European Commission requirements, says Nufarm. The deal is subject to approval by the Commission and regulatory clearance by relevant European authorities.
New Century Resources Ltd (NCZ):
Credit Suisse analysts have set a $2.40 target price on New Century, which is aiming to retreat the old tailings at the mothballed Century zinc mine in Queensland. That’s compared to the company’s share price at the time of the research report’s release of $1.43. “New Century, in our view, presents an opportunity to acquire equity in a low capital, low cost, and low operating risk zinc mine, at an entry price well below our assessed intrinsic value,” the analysts wrote. Credit Suisse’s analysts were the first of the big firms to start detailed coverage of Syrah, and the bank ended up picking up a stack of work raising several hundred million in equity for the company. There may not be the same opportunity for Credit Suisse this time around though. New Century recently announced that big North American resources fund Sprott had offered it $US45m in debt funding, which should cover much of the forecast restart costs.Shares in New Century hit a fresh all-time high of $1.545 in early afternoon trade, taking its market capitalisation to as much as $460 million.NCZ last up 6.3pc on $1.52.
Rio Tinto Ltd (RIO):
Rio Tinto is facing a class-action suit lodged by shareholders of it’s American Depository Receipts in a US district court over allegedly “false and misleading statements” around the true value of a unit in Mozambique, according to Bloomberg. Rio and two former executives were charged by the US Securities and Exchange Commission in US Federal Court last week, the body bringing forward allegations in relation to the impairment of Mozambique assets bought by the company for $US3.7bn and later sold for $US50m.
Wattle Health Australia Ltd (WHA):
Infant formula group Wattle Health's share price has soared eight times higher than its issue price in just six months while ASX rival Bubs Australia is also surging again as renewed buoyancy about the China market spills over into smaller players. Wattle Health's market capitalisation has ballooned to an extraordinary $232 million with itssharesjumping to $1.70 after a modest float in mid-March when it had an issue price of 20¢. This is despite its sales revenue being just $928,426 in 2016-17.Much of the positive sentiment stemmed from a deal struck in early July where Wattle was part of a consortium with Hong Kong financial firm Masons, part of the broader Genius Link Asset Management group, which acquired 80 per cent of Melbourne infant formula manufacturing facility Blend and Pack. Wattle has now finalised its 5 per cent stake in Blend and Pack, which has the capacity to produce 20 million tins of infant formula annually .
Westpac Banking Corporation (WBC):
Westpac, the nation's second-largest lender, is launching an aggressive pitch to first-time home buyers and investors with two-year discounts of up to 115 basis points on its flagship products. Bank of Melbourne, BankSA and St George Bank are also cutting fixed rates on two-year residential investment and owner-occupier principal and interest 2-20 basis points. It comes as lenders step up their campaigns for the peak spring residential selling season before the market begins to slow for Christmas, New Year and January holidays.They are also targeting a revival in first-time home buyers encouraged by state government stamp duty cuts, cash incentives and less competition from investors and overseas buyers. Other lenders are expected to roll out competing offersin coming daysthrough either advertised rates or encouraging mortgage brokers, who act as intermediaries between borrowers and lenders, to offer bigger incentives.
(Source: AIMS)
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