Monthly Archives - June 2020

Australia poised for recession: ASX set to open higher

04 Jun 2020 - Following a broad rally from US markets overnight, the ASX looks set to open higher this morning. If the GDP continues to fall in the next quarter Australia will enter its first technical recession in 29 years. The Australian dollar continues to rise against the USD. AFT Pharmaceuticals (ASX.AFP) has signed an exclusive distribution agreement with Austria’s Ever Valinject for the commercialisation of Maxigesic IV.

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Banks lead the advance in catch-up rally: ASX closed 1.8% higher

0306 Jun 2020 - It has been a positive day of trade for the ASX after a rise at the open the local bourse managed to gain momentum closing 1.8% higher. Banks blostered the market today following GDP and building approvals data from the ABS earlier today. Ingenia Communities Group (ASX:INA) has increased its Security Purchase Plan (SPP) offer to $28 million, above the original target of $25 million.

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Gross Domestic Product fell 0.9% in the March quarter: ASX tracking 0.3% higher at noon

03 Jun 2020 - The ASX shot up at the open and is now tracking almost 0.9% higher at noon. Banks are performing well so far this morning following GDP and building approvals data from the ABS earlier today. Shares in SkyCity (ASX:SKC) rose as they announced they expect total annualised cost savings of around NZ$50m. Infigen Energy (ASX:IFN) is considering its response to the off-market takeover proposal from UAC Energy Holdings.

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