Author - Craig Foley

Melco abandons plans to increase stake in Crown Resorts (ASX:CWN): ASX poised to open higher

07 Feb 2020 - Australian shares are poised to open higher after positive leads from New York. All three US benchmarks closed higher, resetting record highs. Shares also rose across Europe in response to China's decision to cut tariffs on some imported US goods. Crown Resorts (ASX:CWN) have entered into a deed to terminate the sale of the second tranche of Crown shares to Melco Resorts Group.

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Webster’s (ASX:WBA) Canadian takeover underway

07 Feb 2020 - Agricultural group Webster (ASX:WBA) reports that the Supreme Court of NSW has made orders approving the Ordinary Scheme of Arrangement under which an indirect wholly-owned subsidiary of Canada’s Public Sector Pension Investment Board will acquire all of the ordinary shares in Webster that they not already own.

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CIMIC (ASX:CIM) selected for two new contracts worth $164m: ASX closes 1.1% higher

06 Feb 2020 - The ASX shot up at the open and managed to stabilise closing 1.1% higher. Pinnacle Investment Management (ASX:PNI) shares rose after they reported net profit from continuing operations up 37% to $13.8 million. CIMIC Group (ASX:CIM) company CPB Contractors has been selected to deliver upgrades to two major regional highway projects totalling $164 million.

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Retail turnover fell 0.5 per cent in December 2019: ASX tracking 0.6% higher at noon

06 Feb 2020 - The ASX rose at the open and is now tracking 0.6% higher at noon. Service Stream (ASX:SSM) shares saw a decline today. Meanwhile, shares in Elders (ASX:ELD) and Janus Henderson Group (ASX:JHG) are on the rise. And Lynas (ASX:LYC) Malaysia says they are deeply disappointed by the behaviour of anti-Lynas activists who they say continue to make false statements.

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