Splitit (ASX:SPT) to raise $16 million: Aus shares 1.3% higher at noon

30Apr

Splitit (ASX:SPT) to raise $16 million: Aus shares 1.3% higher at noon

 

The Australian share market opened higher this morning and is now trading 1.3 per cent higher at noon. Credit Corp Group (ASX:CCP) is leading the top 200 gains at midday, up over 15 per cent with Northern Star Resources (ASX:NST) coming in last. The S&P/ASX 200 index is 72 points up at 5,465. On the futures market the SPI is 84 points up. 

Broker moves 

UBS has rated Regis Resources (ASX:RRL) as a buy. The broker notes the March quarter production was slightly weaker than they expected and production guidance is unchanged. UBS says, first stopping ore and commercial production is expected at the Rosemont underground in the June quarter, which will provide a higher grade ore source and should lift production to 380-400,000 ounces per annum by FY22. UBS considers the valuation attractive and target is raised to $6.00 from $5.60. Shares in Regis Resources (ASX:RRL) are trading 0.2 per cent higher at $4.52 at noon. 

Company news 

Splitit (ASX:SPT) will raise $16 million to strengthen its balance sheet to accelerate high growth strategy. The proceeds of the placement will enable Splitit to continue to execute its high-growth strategy by investing in go-to-market and technology resources, support existing merchant credit facilities and for general working capital. Splitit has received firm commitments to subscribe for 39,024,391 shares at an issue price of $0.41 per placement share. CEO and Managing Director, Brad Paterson says the funds will provide greater flexibility to grow our merchant funded model as the number of new merchants is ramping up in line with our growth plans and given the uncertain environment, bolstering the balance sheet now was imperative to ensure we are well set to deliver growth for our shareholders over the medium to long term. Shares in Splitit (ASX:SPT) are trading 6.7 per cent lower at 48 cents.

Best and worst performers 

The best-performing sector is Energy, adding 4.7 per cent, while the worst performing sector is Health Care shedding 1.1 per cent. 

The best performing stock in the S&P/ASX 200 is Credit Corp Group (ASX:CCP), rising 15.8 per cent to $16.37, followed by shares in AP Eagers (ASX:APE) and Ohh! Media (ASX:OML). 

The worst performing stock in the S&P/ASX 200 is Northern Star Resources (ASX:NST) dropping 3.7 per cent to $12.51, followed by shares in Netwealth Group (ASX:NWL) and Gold Road Resources (ASX:GOR). 

Commodities and the dollar 

Gold is trading at US$1,713 an ounce. 
Iron ore price is up 0.4 per cent to US$82.50. 
Iron ore futures are pointing to a rise of 2.4 per cent. 
One Australian dollar is buying 65.44 US cents.  
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

26Aug

China fires shots in trade war, Trump tweets back: Aus shares 1.5% lower at noon

26 Aug 2019 - Market at midday: China hits 5-10% tariff on $75b of US goods - Trump raises China tariff amounts to 30% and 15%. Gold soars to US$1,545, Feb 2012 levels, gold stocks rally. Monash IVF (ASX:MVF) returns to earnings growth in 2H19, however FY19 NPAT fell 2.3% to $21m. Zip Co (ASX:Z1P) inks landmark debt funding deal to increase business scale.

Read More
15Mar

Pilbara Minerals (ASX:PLS) receives US funding for Pilgangoora: ASX closed 0.1% higher

15 Mar 2021 - At the closing bell the S&P/ASX 200 index closed 6 points higher, or 0.1% higher to finish at 6,773. Pilbara Minerals (ASX:PLS) has received a $US15 million unsecured payment from Yibin Tianyi Lithium to fund $22 million of improvement works underway on plant one at Pilbara’s Pilgangoora operation.

Read More
29Apr

Consumer Price Index rose 0.3% in the March 2020 quarter: ASX 1.1% higher at noon

29 Apr 2020 - The ASX shot up in mid morning trade and is now tracking almost 1.1% higher at noon. Shares in casino operator Crown Resorts (ASX:CWN) rose today after US company The Blackstone Group Inc. purchased a 10% stake in the company. Shares in supermarket Coles (ASX:COL) are down over 4% despite growing supermarket sales 13.8% in the March quarter. The Malaysian government has extended the Movement Control Order to 12 May 2020, delaying the restart of...

Read More
02Aug

Wall St lower, Square to acquire Afterpay for $39bn, Credit Suisse cuts Fortescue & Iress ratings: ASX to rise

02 Aug 2021 - Major indexes across the globe closed in negative territory on Friday as rising Covid-19 cases put a lid on sentiment over the pace of the economic recovery, while Asian markets closed the week out with a tumble. Square is set to acquire Afterpay (ASX:APT) for $39 billion. Why Citi downgrades its rating for Fortescue Metals (ASX:FMG) and Iress (ASX:IRE). Earnings season kicks off locally.

Read More
25Mar

The Dow jumps up on hopes of coronavirus stimulus package: ASX poised to open higher

25 Mar 2020 - The ASX looks set to open higher. The Dow rebounded more than 11% in its best day since 1933. The rise comes as US Congress battles out a coronavirus stimulus deal. Meanwhile, US President Donald Trump says he wants to reopen the US economy by Easter. Back home economists report that we could see house prices plummet by 20%. Fletcher Building (ASX:FBU) says there has been no material disruption to our manufacturing, distribution, residential...

Read More
17Oct

Inflation data too strong for equity markets to maintain any momentum

17 Oct 2022 - Stocks slumped Friday, capping off a volatile week of trading, a day after posting a historic turnaround rally. Early gains were erased following the Michigan consumer sentiment report that showed an increase in one-year inflation expectations for the first time in seven months and came after Thursday’s hotter-than-expected CPI report. Both reports added scepticism to the peak inflation dynamic and supports recent Fedspeak that has continued to push a raise-and-hold narrative until inflation meaningfully comes...

Read More
03Jun

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.

Read More
24Feb

Tech stocks drag the market down: ASX closed 0.9% lower

24 Feb 2021 - It has been a negative day of trade for the ASX. After opening in the red the local bourse failed to gain momentum. Tech stocks dragged on the market today - Appen (ASX:APX) shares are down over 12%. At the closing bell the S&P/ASX 200 index closed 61 points lower, or 0.9% lower to finish at 6,778.

Read More
11Mar

Travel stocks soared after $1.2 billion Government tourism stimulus announced: ASX closed flat

11 March 2021 - It has been a mixed day for the ASX. After lifting at the open, the market retreated then rose into positive territory after lunch and lost its early gains on the back of Australia's Health Secretary Brendan Murphy advising that the target of Australians receiving their second dose of the Covid-19 vaccine by the end of October is likely to be missed. As for the sectors, we saw improvements in the Consumer Discretionary and Industrials...

Read More
02Aug

Wall St lower, Square to acquire Afterpay for $39bn, Credit Suisse cuts Fortescue & Iress ratings: ASX to rise

02 Aug 2021 - Major indexes across the globe closed in negative territory on Friday as rising Covid-19 cases put a lid on sentiment over the pace of the economic recovery, while Asian markets closed the week out with a tumble. Square is set to acquire Afterpay (ASX:APT) for $39 billion. Why Citi downgrades its rating for Fortescue Metals (ASX:FMG) and Iress (ASX:IRE). Earnings season kicks off locally.

Read More