A solid start to a busy holiday-shortened week, with the ASX 200 up by 72 pts or 1 per cent to 7385, which extends the local market’s winning streak to a third session while also hitting fresh record highs in the process.
Some of the highlights this week are likely to be a key update on the Australian labour market Thursday, closely watched numbers on China’s economy tomorrow and central banks remaining in focus. The Federal Reserve wraps up its two-day monthly meeting on policy Thursday morning. While the market is anticipating no change in rates, slight shifts in tone and language could impact stocks and currencies.
Nuix (NXL) is up 2.6 per cent after both the Chief Executive and Chief Financial Officer have announced their decisions to leave the software company. CEO Rod Vawdrey will remain in his role while an international search for a replacement is conducted. NXL shares have close to halved in price since making its debut six months ago and has slumped by ~80 per cent from its alltime highs on downgrades.
Japara Healthcare (JHC) is up 6.8 per cent after receiving a second takeover offer in a week. RSL Care – which is part of not-for-profit Boston Clarke – has put $1.22 per share on the table for the aged care provider. This is a touch higher than the $1.20 offer made from Little Company of Mary Health Care last week.
Bank of Queensland (BOQ) said it expects a $75m decrease in collective provisions over the three months to 31 May mainly thanks to an improved economic outlook. BOQ shares are up 1.4 per cent. A2 Milk (A2M) is one of today’s strongest improvers on no official news from the infant formula maker.
Austal (ASB) is down 7.9 per cent after reducing its profit and revenue goals for the year (FY21) due to delays and higher costs associated with COVID-19. The shipbuilder is also being taken to court by ASIC.
REA Group (REA) has acquired a 34 per cent interest in mortgage application and e-lodgement company, Simpology for $15m in cash. REA is up 1.7 per cent.
Crown (CWN) has received a revised $3.1bn offer (previously $3bn) from Oaktree Capital to purchase Crown shares held by James Packer’s Consolidated Holdings. This would take Oaktree’s total stake in the casino operator to 9.99 per cent if approved. CWN is down 0.3 per cent.
2.5bn shares have changed hands so far worth $2.5bn. 679 stocks are up, 664 down and 401 are unchanged.
Published by CommSec