Vocus charges ahead on takeover talks: ASX 0.6% higher at noon

08Feb

Vocus charges ahead on takeover talks: ASX 0.6% higher at noon

 

The local market has had a solid start to the trading week, the S&P/ASX 200 Index is up 0.6 per cent or 42 points at 6882 points. SPI futures are pointing to a rise of 44 points as we head into afternoon trade. IT is leading the way with the likes of Afterpay up by 2.8 per cent and Xero up by over 2 per cent. Vocus Group is surging ahead up by 13.9 per cent after confirming it has received a takeover bid. Buy now pay later company Zip Co is also charging up by almost 9 per cent following media reports the company is presenting to US investors and contemplating a second listing. Shares in Sigma Healthcare are up almost 7 per cent after flagging a 35 per cent increase in earnings for Financial year 21.

Broker moves

Citi has upgraded Mount Gibson Iron (ASX:MGX) to buy from neutral. The investment bank has raised 2020 and 2021 benchmark iron ore price forecasts to US$140 and US$110 per tonne. Since the beginning of the year the Mount Gibson share price has fallen by15 per cent. Along with large earnings revisions this causes the broker to upgrade the rating to Buy/High Risk from Neutral/High Risk. Target is raised to $1.20 from $1.10.

Company news

Splitit (SX:SPT) has appointed retail executive and former Myer boss Dawn Robertson as chairman after Spiro Pappas resigned from the board immediately to "pursue new endeavours". Shares in Splitit (ASX:SPT) are trading 3.2 per cent higher at $1.47.

Best and worst performers

The best-performing sector is IT gaining 1.7 per cent while the sector trailing behind is utilities dropping 1.9 per cent. The best performing stock in the S&P/ASX 200 is Vocus (ASX:VOC) rising 13.9 per cent to $4,99, followed by shares in Zipco (ASX:ZIP) and Iluka resources (ASX:ILU) The worst performing stock in the S&P/ASX 200 is News Corporation (ASX:NWS) dropping 3.4 per cent to $27.45, followed by shares in Omni Bridgeway (ASX:OBL) and oRIGIN Energy (ASX:ORG).

Commodities

Gold is trading at US$1,816 an ounce.
Iron ore is 0.6 per cent lower at $157.01
Futures are suggesting a rise of 1.8 per cent.
One Australian dollar is buying 76.71 US.

Copyright 2021 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

24Aug

Wall St rallies as Pfizer gets full FDA approval, Why Kogan is bullish: ASX to edge higher

24 Aug 2021 - Global stocks claw their way back into positive territory as oil prices recovered, while investors buy the dip. U.S. FDA gives full approval for Pfizer boosting Wall St’s performance. Asian & European markets marched their way back. Why Kogan (ASX:KGN) is bullish for Stock Watch.

Read More
01Jun

Wall Street ends mixed: Aus shares to open lower ahead of a big week for economic data

01 Jun 2020 - The Australian sharemarket looks set to open lower following a mixed result in the US on Friday. Wall Street ended a volatile session with the Nasdaq and the S&P500 managing to hold onto gains after President Donald Trump didn’t take drastic punitive action against China as investors had feared.

Read More
08Sep

US, China ‘decouple’: European gains to lift ASX

08 Sep 2020 - Aussie shares are slated to open higher today, following bullish European gains. The US is considering striking China’s tech sector by imposing restrictions on exports to SMIC. Under-suspension iSignthis (ASX:ISX) has retaliated against the ASX with a damage claim worth $464.7 million.

Read More
22Oct

Shares in Orocobre (ASX:ORE) fall despite ‘solid quarter’: ASX closed 0.3% higher

22 Oct 2019 - The ASX closed 0.3% higher. Orocobre (ASX:ORE) shares fell today – quarterly sales revenue at Olaroz declined 21% on a quarter on quarter basis. As for the sectors, the Materials sector led the way and the Information Technology sector trailed behind. And Wagners Holding Company (ASX:WGN) have recommenced supplying cement to Boral (ASX:BLD).

Read More
07Aug

4DMedical (ASX:4DX) IPO soars: Aus shares 0.4% lower at noon

07 Aug 2020 - The Australian share market is down 0.4 per cent this morning after the Reserve Bank of Australia downgraded its forecasts for global GDP and Australian employment. Credit Suisse rates Centuria Office REIT (ASX:COF) as an Outperform, with a 12-month price target of $2.14. Worley (ASX:WOR) has been awarded a master construction services agreement by Corpus Christi Liquefaction LLC.

Read More
06Jan

World markets rocked by Iran-US tensions: ASX poised to open lower

06 Dec 2020 - Following weak leads from US markets, the ASX looks set to open lower this morning. Over in the US stocks fell on fears of escalation of military activity in the Middle East after the Commander of Iran's Islamic Revolutionary Guards Corps was killed in Baghdad by rockets from an American strike. Resolute Mining (ASX:RSG) is looking to extend the Company’s US dollar denominated gold hedge position.

Read More
01Aug

Wall St rises on disappointing GDP growth, Marley Spoon serves mixed results, Why Flight Centre is a hold: ASX poised to edge higher

30 Jul 2021 - Global stocks rallied as earnings season continued amid positive economic data in Europe, though mixed numbers in the U.S. Asian markets climbed after their recent panic selling. Coverage of U.S. GDP and jobless claims, Biden’s vaccine requirement & tech titan’s mandate. Earnings figures from Yum Brands, Pinterest & Robinhood’s underwhelming debut. Marley Spoon (ASX:MMM) plated mixed results. Why UBS rates Flight Centre (ASX:FLT) as a hold.

Read More
15Jul

Consumer sentiment drops 6.1%: Aus shares close 1.9% higher

15 Jul 2020 - The Australian share market rose sharply at the open and continued to rally closing 1.9 per cent up at the end of today’s trade. The Westpac-Melbourne Institute Index of Consumer Sentiment fell 6.1 per cent to 87.9 in July from 93.7 in June.

Read More
10Oct

A US-China partial trade deal could be in sight: ASX set to open higher

10 Oct 2019 - Following positive leads from US markets, the ASX looks set to open higher this morning. In the US the Federal Reserve released the minutes from its September meeting. In other news, Turkey has begun a military offensive into Syria just days after President Donald Trump said the US wouldn’t stand in the way. The Afterpay Touch Group (ASX:APT) reported yesterday that former US treasury secretary Lawrence Summers will join its advisory board.

Read More
21Feb

Aussie dollar falls: Aus shares 0.2% lower at noon

21 Feb 2020 - The Australian share market was down at the open and is now tracking 0.2 per cent lower at noon. Christine Feldmanis joins Bell Financial Group (ASX:BFG) Board. One Australian dollar is buying 66.16US cents.

Read More