Things to watch on the ASX today

Australian Stock Markets

Will the market be able to bounce back on Tuesday? Here are five things that could shape today’s trade:

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) started the new financial year with a day in the red on Monday. It gave back its early gains to finish the day down 0.3% to 6,177.8 points.

ASX expected to open the day higher.

According to the latest SPI futures, the local market is expected to open the day higher by 0.3% or 21 points on Tuesday. This follows a positive night of trade on Wall Street which saw U.S. markets rebound from early declines to push notably higher. The Dow Jones Industrial Average rose 0.15%, the S&P 500 climbed 0.3%, and the NASDAQ pushed almost 0.8% higher.

Reserve Bank of Australia meets today.
The Reserve Bank of Australia will meet at 14:30 AEST today to discuss the cash rate. Think there is not a single economist in the country that expects the central bank to make a move on rates.

In fact, the consensus appears to be for rates to remain on hold at the record low of 1.5% until at least the end of 2019.

Toll road operator Atlas Arteria announces fees.

The shares of Atlas Arteria Group (ASX: ALX), formerly known as Macquarie Atlas Roads, will be on watch on Tuesday after providing its final performance fee. According to the release, a final performance fee was earned by Atlas Arteria’s manager, Macquarie Fund Advisers, for the 12 months ended 30 June 2018.

During this period, the company outperformed the S&P/ASX 300 Industrials Accumulation Index by 10.8%, resulting in a 2018 performance fee of $54.7 million. The 2018 performance fee will be payable in one instalment.

Oil prices give back gains.
Oil prices have taken a tumble overnight after data revealed a surprise rise in output from Saudi Arabia and Russia. The WTI crude oil price has fallen 0.1% to US$74.06 a barrel and the Brent crude oil price is down 2.3% to US$77.39 a barrel.

This could put pressure on the shares of Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL).

Amaysim shares tipped as a buy.
According to a note out of Goldman Sachs, its analysts have retained their buy rating and placed a $1.30 price target on Amaysim Australia Ltd (ASX: AYS) shares.

Despite the company suffering a slowdown in subscriber growth, the broker sees a lot of value in its shares at the current level.

Five things to watch on the ASX today

Here are five things that could shape today’s trade: Will there be more gains on Wednesday?

On Tuesday the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) rebounded from Monday’s heavy decline with a 0.2% gain to 6,013.6 points.

ASX futures are pointing lower.
According to the latest SPI futures, the Australian share market is expected to open the day deep in the red. Futures currently point to a 47-point or 0.8% decline at the open following a tough night of trade on Wall Street.

The Dow Jones Industrial Average fell 1.6%, the S&P 500 dropped 1.2%, and the Nasdaq was down 0.5%. Political turmoil in Italy is behind the decline.

Turmoil in Italy spooks markets.
After weeks of negotiations for a populist coalition government to take shape, the president of Italy has controversially vetoed it.

This has left the country with an interim government before fresh elections take place early next year. There are concerns that the uncertainty that this has caused could lead to anti-EU parties winning even more votes if a fresh vote is held, sparking fears that Italy could follow the United Kingdom out of the European Union.

Cryptocurrency markets rebound.
The political turmoil in Italy has given cryptocurrency markets a much-needed boost.

After a series of heavy declines, Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all bounced back strongly during overnight trade just as markets started to crumble.

This is because some traders see cryptocurrencies as the new gold and a safe haven asset. This will be good news for blockchain and crypto company Digitalx Ltd (ASX: DCC).

Its shares have almost halved in value in the space of a month following the crypto meltdown.

Bank shares will be on watch.
The shares of Australia and New Zealand Banking Group (ASX: ANZ) and Commonwealth Bank of Australia (ASX: CBA) will be on watch today after heavy declines in the U.S. banking sector overnight.

Concerns over a global credit blight and anaemic interest rates weighed on financial markets and led to many of the United States’ major banks falling 3% or more.

Oil prices mixed.
Energy shares such as Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) will be under the spotlight again after a mixed night of trade for oil prices. According to Bloomberg, WTI crude has continued its decline and is down 1.5% to US$66.87 a barrel.

Brent crude oil has edged 0.1% higher to US$75.38 a barrel.

ASX shares have surged higher today

Australian Stock Markets

Four shares that have defied the market and climbed higher today are listed below. Here’s why they have surged higher:

It has been a disappointing day of trade for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) on Wednesday. In afternoon trade the index is down 0.5% to 5,983.2 points.

The Bellamy’s Australia Ltd (ASX: BAL) share price has climbed 7% to $16.91 despite there being no news out of the organic infant formula company.

But with its shares down significantly over the last couple of weeks, I wouldn’t be surprised if bargain hunters are swooping in today to pick up shares at a cheaper price.

The Jatenergy Ltd (ASX: JAT) share price has surged 11.5% higher to 14.5 cents after the energy-cum-infant formula company announced plans to open a retail store in China.

Jatenergy will open a store in the new Hui Yue Kid’s City shopping complex in Zhengzhou, China.

The complex has been designed specifically to cater to the mother and baby market, giving the company an opportunity to grow its presence in the lucrative market. A promising development but a touch too soon to invest in my opinion.

The Kogan.com Ltd (ASX: KGN) share price has bounced back from yesterday’s decline with an 8% move higher to $9.08. On Tuesday the ecommerce company’s shares fell hard after eBay announced plans to launch a monthly subscription that gives users free deliveries and returns.

It appears some investors have seized on this selloff to pick up shares at an attractive price.

The Retail Food Group Limited (ASX: RFG) share price has continued its move higher and is up a further 6.5% to 90 cents.

The market has responded well to the embattled food and beverage company’s new CEO appointment.

New CEO, Richard Hinson, has stated that initial turnaround plans have started to see a positive response.

Things to watch on the ASX on Tuesday

Australian Stock Markets

Here are five things that could shape today’s trade: Will the index perform better on Tuesday? 

On Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) started the week with a decline. The benchmark index finished the day down 0.5% to 6,004 points.

ASX futures are pointing lower.
According to the latest SPI futures, the Australian share market is expected to open the day 0.2% or 13 points lower on Tuesday.

Wall Street was closed for the Memorial Day holiday and the UK markets were closed for its Spring Bank holiday.

Oil prices have continued to slide.
Energy producers including Beach Energy Ltd (ASX: BPT) and Oil Search Limited (ASX: OSH) could be set for another day in the red after oil prices continued to slide.

WTI crude oil fell a further 2% to US$66.47 a barrel and Brent crude oil was 1.5% lower to US$75.30 a barrel.

Prices have come under pressure after Saudi Arabia and Russia signalled their intention to increase output.

ALS shares will be on watch.
The ALS Ltd (ASX: ALQ) share price will be on watch today following the release of its full-year results after the market close on Monday.

The testing services company delivered underlying net profit after tax from continuing operations of $142.2 million for FY 2018, up 21% year-on-year.

This was below the expectations of analysts at Goldman Sachs. In addition to this, the broker appears concerned by margin pressures in its Life Sciences segment.

Telstra has its credit rating cut by S&P.
On Monday the Telstra Corporation Ltd (ASX: TLS) share price came under pressure after Standard & Poor’s downgraded the telco giant’s long-term rating to A- and its short-term rating to A-2.

Previously it had been rated as A and A-1, respectively. Intense competition and weak profitability are the reasons behind the downgrade. Brokers may weigh in on the situation today.

Metcash will also be on watch.
Brokers will no doubt be giving their opinion on the news out of Metcash Limited (ASX: MTS) on Monday that led to its shares falling almost 18%.

The wholesale distributor warned of the potential loss of one of its major customers.

Four ASX shares storming higher today

Australian Stock Markets

Four shares that are climbing more than most today are listed below. Here’s why they are storming higher:

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday’s heavy decline with a move higher. At the time of writing the benchmark index is up 0.2% to 6,015.2 points.

The Australian Mines Limited (ASX: AUZ) share price has surged 6% higher to 8.7 cents after the mineral exploration company advised that surface geochemical sampling over a target area of its Thackaringa Project in New South Wales has identified three zones of elevated levels of cobalt.

Management stated that the cobalt content of these three anomalous zones is reportedly similar to those observed at the Cobalt Blue (ASX: COB) operated Pyrite Hill and Big Hill cobalt deposits.

The Collection House Limited (ASX: CLH) share price has pushed higher by 5% to $1.65. This morning the receivable management company upgraded its full-year guidance for investment in purchase debt ledgers (PDL).

Due to the company taking steps to leverage the opportunities that have arisen from the requirement for Australian Banks to fully comply with the provisions of AASB 9, it intends to invest $80 million and $84 million in PDLs.

Pleasingly, management expects to generate higher returns on these investments thanks to improvements in collection efficiencies, technology adoption, and improved data analysis.

The Galaxy Resources Limited (ASX: GXY) share price has rocketed 13.5% higher to $3.39 after announcing the sale of a package of tenements at its Sal de Vida operation to POSCO.

The South Korean conglomerate will pay US$280 million for the package, with the proceeds being used to progress the development of Galaxy’s remaining Sal de Vida operation.

This is a great deal and surprised to see its shares storm higher.

The Retail Food Group Limited (ASX: RFG) share price has jumped 10% higher to 85 cents after announcing the appointment of a new group CEO.

The company has promoted Richard Hinson from his previous role of CEO of its Australian business after just four months.

Investors appear to believe he could help turn around the sinking ship.

ASX shares starting the week with strong gains

Australian Stock Markets

Four shares that have defied the market today are listed below. Here’s why they have started the week with strong gains:

It has been a disappointing start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). Due largely to declines in the energy sector, the benchmark index is down 0.55% to 5,999 points in afternoon trade.

The APN Outdoor Group Ltd (ASX: APO) share price has raced 7% higher to $5.45 after the outdoor advertising company released its full-year EBITDA guidance.

Management expects underlying EBITDA to be in the range of $92 million to $96 million in FY 2018 compared to $90.3 million in FY 2017.

 According to the release, the out-of-home markets in both Australia and New Zealand have remained robust in recent months.

The Investa Office Fund (ASX: IOF) share price has rallied almost 10.5% higher to $5.11 after the office property owner advised that Blackstone Singapore has made an offer of $5.25 cash per unit to acquire the company.

 The offer will reduce by any distributions declared or paid between now and the completion of the proposal.

The Reliance Worldwide Corporation Ltd (ASX: RWC) share price has stormed 20% higher to $5.47 after emerging from a trading halt.

The plumbing parts company’s shares were placed into a trading halt whilst it prepared a $1.1 billion capital raising (including a $945 million institutional component) to acquire UK-based rival John Guest Holdings.

The Technology One Limited (ASX: TNE) share price has pushed almost 3.5% higher to $4.57 after the enterprise software company clarified its earnings guidance for FY 2018.

Management advised that its guidance of profit growth between 10% to 15% related to its standard profit after tax metric and not the underlying profit after tax declared last year.

The company does not intend to report underlying profits and only did so last year to highlight the abnormal items that it had experienced.

Things to watch on the ASX today

Australian Stock Markets

Will the Australian share market be able to build on this and finish on a high on Friday? Here are five things that could shape the day’s trade:

On Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) snapped its losing streak with the smallest of gains. The benchmark index finished the day 4.6 points higher at 6,037.1 points.

ASX futures are pointing lower.
According to the latest SPI futures, the Australian share market is expected to open the day lower by 27 points or 0.45%.

This follows declines on Wall Street overnight after President Trump pulled the plug on his meeting with North Korea’s Kim Jong Un. The Dow Jones Industrial Average was down 0.3%, the S&P 500 was off 0.2%, and the NASDAQ was down slightly.

Trump cancels the North Korea meeting.
While the cancellation of President Trump’s meeting with North Korea sent U.S. markets lower, it has given the gold price a lift.

The spot gold price is up 0.9% to US$1,304.5 an ounce, which could mean the likes of Northern Star Resources Ltd (ASX: NST) and Resolute Mining Limited (ASX: RSG) have a positive day of trade.

Results are due to be released.
Yesterday it was Aristocrat Leisure Limited (ASX: ALL) reporting its results, today it is the turn of Mesoblast limited (ASX: MSB) and Thorn Group Ltd (ASX: TGA) to release their respective results. Mesoblast’s shares fell heavily yesterday ahead of the release, which could be an indication that some shareholders are concerned that it could fall short of expectations.

Oil prices give back gains.
The shares of many of Australia’s leading energy producers such as Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) could come under pressure today after oil prices fell.

WTI crude oil has fallen 1.6% to US$70.67 a barrel and Brent crude oil is down 1.3% to US$78.77 a barrel.

The Royal Commission continues.
Banking giant Commonwealth Bank of Australia (ASX: CBA) took to the stand at the Royal Commission on Thursday.

The bank’s shares tumbled to a 52-week low after an executive admitted the bank put off writing to overcharged small business customers so he could avoid being grilled at a parliamentary hearing.

ASX: Shares that are ending the week with a bang

Australian Stock Markets

Four shares that have not let this hold them back are listed below. Here’s why they are ending the week with a bang:

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced off its lows but is still down 0.1% to 6,030 points in afternoon trade.

The Aristocrat Leisure Limited (ASX: ALL) share price is up 4.5% to $31.37 after brokers responded positively to the gaming company’s half-year results release on Thursday.

Analysts at Deutsche Bank were clearly impressed with the first-half that Aristocrat Leisure delivered. They bumped their price target up to a massive $38.75.

The broker was pleased to see its Digital segment outperform its expectations. I would agree with Deutsche that this is a share to buy right now.

The Champion Iron Ltd (ASX: CIA) share price has raced 12.5% higher to $1.50 after the iron ore miner announced the shipment of its millionth tonne of quality iron ore.

According to the release, its Quebec Iron Ore business has produced and shipped its first one million tonnes of high-grade 66% iron concentrate ahead of schedule after the successful restart and ramp up of Bloom Lake.

Management anticipates that the mine will reach its annual full capacity of 7.4 mtpa by the end of June.

The Greencross Limited (ASX: GXL) share price has risen over 5.5% to $4.27 after the AFR speculated that private equity firms could be interested in launching a takeover of the integrated pet care company.

While the report makes valid points, wouldn’t rush into an investment purely on speculation. Especially with the company underperforming at present.

The Telstra Corporation Ltd (ASX: TLS) share price has pushed 3% higher to $2.87 after it was upgraded to a buy rating with a $3.00 price target by UBS.

Would agree with UBS on this one and think that Telstra is attractive at the current share price given that a future dividend cut looks to be completely priced in now.

Though it is worth remembering that it is a riskier investment than normal given the tough trading conditions being experienced in the telco space.

5 things to watch on the ASX on Thursday

Australian Stock Markets

Will Thursday be a much-needed improvement for the Australian share market? Here are five things that could shape today’s trade:

On Wednesday the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) made it three days of declines out of three this week when it dropped 0.15% to 6,032.5 points.

ASX futures are pointing lower.
According to the latest SPI futures, the Australian share market is expected to open 14 points or 0.2% lower on Thursday. This decline comes despite a positive session on Wall Street overnight. The Dow Jones Industrial Average finished the day 0.2% higher, the S&P 500 was up 0.3%, and the Nasdaq was 0.6% higher.

Aristocrat Leisure results.
This morning gaming technology company Aristocrat Leisure Limited (ASX: ALL) is due to release its first-half results and expectations are high.

According to Goldman Sachs, the broker is looking for sales growth of 32% to $1,635 million, EBITA growth of 17% to $704 million, and net profit after tax growth of 14.4% to $312 million.

For the full-year the broker expects net profit after tax of $732 million, compared to the Bloomberg consensus median estimate of $701 million.

The Royal Commission continues.
This morning the Royal Commission continues its focus on small business lending.

Yesterday Bank of Queensland Limited (ASX: BOQ) took to the stand. The Commission heard how a primary school teacher purchased two Wendy’s franchises, only for the regional bank to double her monthly interest payments once it became too late for her to pull out of the contracts. Things didn’t end well, unfortunately.

Federal Reserve in no rush to raise rates.
Bond proxies such as Transurban Group (ASX: TCL) could be given a lift today after the U.S. Federal Reserve said there was no rush to raise rates in its minutes.

The FOMC minutes revealed that the central bank was in no hurry to accelerate the pace of rate hikes even though the economy continues to improve.

A hike next month, however, is very much in play. Yields on 10-year Treasuries dropped below 3%.

Gold miners could move higher.
The FOMC minutes also gave the gold price a much-needed lift to US$1,293 an ounce.

This could put gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) in a position for a positive day of trade. However, the gold price is still trading within sight of its lowest level in 2018.

Why these 4 ASX shares are storming higher today

Australian Stock Markets

Four shares which have defied the market and pushed higher today are listed below. Here’s why they are storming higher:

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for yet another decline and is down 0.1% to 6,028 points in afternoon trade.


The A2 Milk Company Ltd (ASX: A2M) share price has rebounded after its recent selloff and is up 5.5% to $9.81.

Prior to today the infant formula and dairy company’s shares were down almost one-third from their all-time high. Some investors appear to believe that this drop has created a buying opportunity and  would agree.

The Aristocrat Leisure Limited (ASX: ALL) share price has stormed 7.5% higher to $29.87 after delivering an impressive first-half result.

The gaming technology company posted normalised net profit after tax of $310.5 million on revenues of $1,640.9 million.

This was an increase of 24.4% and 33.6%, respectively, on the prior corresponding period. The highlight for me was the company’s 493% lift in daily active users to 8.3 million. This is likely to lead to strong recurring revenues in the future.

The Jatenergy Ltd (ASX: JAT) share price has jumped 11% to 15.5 cents after the energy-cum-infant formula company announced plans to acquire a controlling stake in Sydney-based wholesaler, distributor, and exporter, Green Forest International.

Green Forest sells to more than 50 shops and pharmacies in Hong Kong and over 200 gift shops, duty free stores, and daigou warehouses in Australia.

The Yojee Ltd (ASX: YOJ) share price has pushed higher for a third day in a row and is up a further 7% to 14.5 cents.

The logistics and supply chain management software provider’s shares have risen over 25% since Tuesday after it signed a services agreement with Schenker (Asia Pacific).

While it is a promising agreement, would suggest investors wait to see what becomes of it.

Things to watch on the ASX on Wednesday

Australian Stock Markets

Will Wednesday be an improvement for the benchmark index? Here are five things that could shape the day’s trade:
 

On Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) posted its second decline in a row with a disappointing 0.7% drop to 6,041.9 points.

ASX futures are pointing lower.
According to the latest SPI futures, the Australian share market is expected to open the day 4 points or 0.1% lower following a weak night of trade on Wall Street.

The Dow Jones Industrial Average finished 0.7% lower, the S&P 500 was down 0.3%, and the NASDAQ was off 0.2%.

Royal Commission continues.

Westpac Banking Corp (ASX: WBC) took to the stands again on Tuesday. The Commission grilled the bank of its small business lending practices, finding its record keeping to be substandard. Australia and New Zealand Banking Group (ASX: ANZ) joined the party late on and will return to the stand this morning for further questioning.

Santos rejects Harbour Energy offer.
The Santos Ltd (ASX: STO) share price will be on watch on Wednesday after the energy producer rejected the US$5.21 per share (A$6.86 per share) takeover offer from Harbour Energy and terminated discussions.

According to the release, the company’s independent directors and managing director unanimously resolved to reject the proposal on the basis that that it does not represent the full value of the company and is not in the best interests of shareholders.

Sirtex receives a firm offer.
Regenerative medicine company Sirtex Medical Limited (ASX: SRX) also released an announcement after the market closed on Tuesday.

It confirmed that CDH Genetech has made a binding offer of $33.60 cash per share, less any dividend declared by the board of up to $0.30 per share.

This could be a great deal for shareholders. Sirtex also provided a trading update which revealed that dose sales have not met internal expectations.

After being flat in the first half, worldwide dose sales for the period so far in the second half were down 10.6% on the prior corresponding period.

Dividends being paid.
Eligible shareholders of Speedcast International Ltd (ASX: SDA), Pro-Pac Packaging Limited (ASX: PPG), and Tox Free Solutions Limited (ASX: TOX) are due to receive their latest dividends today.

Tax Free shareholders will be particularly happy as they are set to receive a special 58 cents per share fully franked dividend.

That’s the equivalent of a 17% yield for the soon to be delisted waste management company.

Four ASX shares climbing higher today

Australian Stock Markets

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to make it three days of declines out of three this week. In afternoon trade the index is down 0.2% to 6,028 points.

Four shares that have defied the market and are higher today are listed below. Here’s why they have climbed higher:

The Botanix Pharmaceuticals Ltd (ASX: BOT) share price has pushed almost 4% higher to 14 cents after the cannabis-based dermatology company released a presentation revealing its sizeable opportunity in the growing atopic dermatitis market.

According to the presentation, the global atopic dermatitis market is larger than the acne market and is projected to reach US$24 billion by 2027.

The company’s BTX 1204 is a new atopic dermatitis therapeutic addressing this market opportunity. The first patient data is expected to be available in June 2018.

The Blue Sky Alternative Investments Ltd (ASX: BLA) share price has climbed almost 5% to $2.60 despite there being no news out of the embattled asset manager.

Suspect that Blue Sky’s shares are in the hands of day traders now, leaving them prone to wild swings to the upside and downside. Would suggest investors stay clear of the company.

The Sealink Travel Group Ltd (ASX: SLK) share price has surged 10.5% higher to $4.21 after the travel company revealed that it had received an unsolicited, non-binding, and conditional takeover approach from an undisclosed party.

An offer of $4.75 cash per share was tabled, but the offer was rejected on the basis that it undervalued the company.

Investors may be piling in today in the hope that an improved offer is made.

The Yojee Ltd (ASX: YOJ) share price is up for a second day in a row and is 7% higher to 15.5 cents.
The logistics and supply chain management platform provider’s shares surged higher on Tuesday after announcing a services agreement with Schenker (Asia Pacific).

Management believes it provides strong industry validation of Yojee’s unique value proposition to global logistics companies.

Things to watch on the ASX today

Australian Stock Markets

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a slow start to the week and finished the day 2.9 points lower at 6,084.5 points on Monday.

Will things be better on Tuesday? Here are five things that could shape the day’s trade on Tuesday.

ASX futures are pointing lower.
According to the latest SPI futures, the Australian share market is expected to open the day 11 points or 0.2% lower despite a solid day of trade on Wall Street and rises in base metal prices.

Over in the United States the Dow Jones Industrial Average started the week with a 1.2% gain, the S&P 500 was 0.7% higher, and the NASDAQ gained 0.4%.

BWX takeover offer revealed.
The BWX Ltd (ASX: BWX) share price is likely to return from its trading halt with a bang on Tuesday after it revealed the details of its takeover approach. According to the release, the approach has been made partly from within the company, with its CEO and CFO teaming up with Bain Capital to acquire 100% of the company’s shares.

An offer of $6.60 cash per share or a scrip alternative in a newly incorporated acquisition entity of 75% shares and 25% cash has been made. Considering its high level of short interest, I would not be surprised to see its share price shoot beyond the offer price today.

The Royal Commission continues.
Round three of the Royal Commission started on Monday with a focus on small business lenders. Westpac Banking Corp (ASX: WBC) came under the spotlight yesterday when the Commission heard how the bank sought to evict an elderly, seriously ill woman after her daughter’s business failed. Westpac representatives are due to return for further questioning this morning.

Technology One earnings.
This morning Technology One Limited (ASX: TNE) is expected to report its half-year results for FY 2018. According to Bloomberg, the market expects the technology company to report earnings per share of 2.8 cents. This will be a 12% increase on the prior corresponding period.

Telstra will be on watch again.
An unexplained mobile outage on the Telstra Corporation Ltd (ASX: TLS) network added to the negative sentiment surrounding the embattled telco company on Monday.

The nationwide outage was the third time this month that Telstra customers have been left without a service.

ASX shares that have charged higher today

Australian Stock Markets

It has been a disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is down 0.8% to 6,035 points due largely to declines in the telco and resources sectors.

Four shares that have defied the market and charged higher today are listed below. Here’s why they are on the rise:

The BWX Ltd (ASX: BWX) share price has rocketed 36% higher to $5.98 after its CEO and CFO teamed up with Bain Capital to launch a $6.60 takeover approach for the personal care products company.

Judging by the fact that its share price is still trading at a reasonable discount to the offer price, the market doesn’t appear overly certain on a deal being concluded.

The HT&E Ltd (ASX: HT1) share price has charged 6% higher to $2.42 after the outdoor advertising company announced that APN Outdoor Group Limited (ASX: APO) has offered $500 million to acquire its Adshel business.

APN Outdoor believes Adshel’s Street Furniture business would provide an attractive complement to its existing out-of-home product offering.

The James Hardie Industries plc (ASX: JHX) share price has climbed 4.5% to $23.48 after the release of its fourth quarter and full-year results.

According to the release, James Hardie Industries achieved a 12% increase in adjusted group earnings before interest and tax to US$397.5 million for the 12 months ended March 31 2018.

The building supplies company also provided positive guidance for FY 2019.

The Yojee Ltd (ASX: YOJ) share price has zoomed 26% higher to 14.5 cents after the logistics and supply chain management platform provider signed a services agreement with Schenker (Asia Pacific).

The services agreement will see Schenker (Asia Pacific) pay Yojee a fee to commence a project for the implementation of Yojee’s platform into its ecommerce and last mile operations. While it is a positive, I would suggest investors wait to see how things progress.

Australian small cap shares that have zoomed higher today

Australian Stock Markets

While the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is just about creeping into positive territory at lunch, there’s no such trouble at the small end of the market.

At the time of writing, the S&P/ASX Small Ordinaries (Index: ^AXSO) (ASX: XSO) has got off to a flier this week and is up 0.7%.

Three small cap shares that have caught my eye with strong gains on Monday are as follows:

The Bioxyne Ltd (ASX: BXN) share price has surged 13.5% higher to 7.5 cents after the health and immunotherapeutic products company announced the appointment of ASVA International as its regional distributor for Thailand, Philippines, Myanmar, Cambodia and Mauritius.

As part of the deal, ASVA will focus entirely on Bioxyne’s products and will be excluded from selling competing products. A first order of US$200,000 has been received from ASVA.

Bioxyne’s products have a lot of promise, but would suggest investors hold off an investment and wait to see how sales grow in these markets.

The MGC Pharmaceuticals Ltd (ASX: MXC) share price has pushed almost 4.5% higher to 7.2 cents after the cannabis company announced that the Maltese government has approved medicinal cannabis production.

MGC Pharmaceuticals recently announced plans to construct a GMP certified production and manufacturing facility in Malta.

Management appears to believe that this puts the company in a good position to target the European medicinal cannabis market which is expected to be worth $56 billion by 2020.

The Rhipe Ltd (ASX: RHP) share price is up 2% to $1.02 after the leading cloud channel company announced that it has been appointed to Microsoft New Zealand’s Cloud Solution Provider (CSP) program from July 1.

Rhipe is already the leading provider of Microsoft Service Provider License Agreement subscriptions in the country, so adding CSP to its portfolio is expected to be a boost to its offering.

Rhipe has had a lot of success with Microsoft’s CSP in the Asia-Pacific market, which could be a sign of things to come in New Zealand.

ASX shares starting to ride high this week

Australian Stock Markets

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains and has sunk into the red. At the time of writing the benchmark index is down 0.1% to 6,082 points.

Four shares that have not let that hold them back are listed below. Here’s why they have started the week on a high:

The Kidman Resources Ltd (ASX: KDR) share price is up 4.5% to an all-time high of $2.41. Investors continue to fight to get hold of the lithium miner’s shares after it announced an offtake agreement with Tesla, Inc last week.

This led to Ord Minnett slapping a buy rating and $3.20 price target on the company’s shares.

The Livetiles Ltd (ASX: LVT) share price is 8% higher to 41.5 cents following the release of a positive broker note out of Citi.

According to the note, the broker has initiated coverage of the technology company with a (high risk) buy rating and 56 cents price target. The broker suspects that the strategic relationship with key Microsoft and marketing vendor N3 could prove to be material.

The Vocus Group Ltd (ASX: VOC) share price has surged 6% higher to $2.51 after the embattled telco company announced the appointment of Kevin Russell as its group managing director and CEO.

Mr Russell has worked in the telco industry for over 20 years and held executive roles at both Telstra Corporation Ltd (ASX: TLS) and Optus. He also oversaw the turnaround of Hutchison 3G UK Holdings Limited.

The WiseTech Global Ltd (ASX: WTC) share price has risen 4.5% to $14.44 after the logistics platform provider announced the issue of approximately $100 million worth of shares to a single global institutional investor. Capital Group’s SmallCap World Fund picked up 7,560,153 ordinary shares at a price of $13.30 per share.

Management believes that the issue will support the company’s future growth and I agree. So too does the market judging by its share price rise today.

Things to watch on the ASX on Friday

Australian Stock Markets

On Thursday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) dropped lower and finished the day down 0.2% to 6,094.3 points.

Will the benchmark index be able to bounce back on Friday and finish on a high? Here are five things that could shape the day’s trade:


ASX futures are pointing higher.
According to the latest SPI futures, the Australian share market is expected to open the day 0.2% or 14 points higher. This comes despite weakness on Wall Street overnight which saw the Dow Jones Industrial Average fall 0.2%, the S&P 500 decline 0.1%, and the NASDAQ drop 0.2%. Trade fears weighed on investor sentiment in the United States.

Oil prices continue to rise.
The Brent crude oil price broke through the US$80 a barrel mark overnight. It has since dropped back a touch but, according to Bloomberg, sits higher by 0.3% at $79.50 a barrel. The WTI crude oil price is up 0.1% to US$71.58 a barrel. This could put BHP Billiton Limited (ASX: BHP) and Oil Search Limited (ASX: OSH) in a position to have a solid finish to the week.

Australia's Westpac hires complaints head amid damaging inquiryAustralia’s biggest money managers have seen their shares pounded by a barrage of damaging allegations since February, when a Royal Commission inquiry began exposing their abuse of market power and contempt of customers. The bank promoted its corporate affairs manager, Carolyn McCann, to a new role of “group executive, customer and corporate relations”, a move it said would ensure any customer issues “stay front and center” at the bank.

ANZ sells stake in Cambodian joint venture.
After the market closed on Thursday Australia and New Zealand Banking Group (ASX: ANZ) announced the sale of its 55% stake in Cambodian JV ANZ Royal Bank to Japan’s J Trust. The proceeds inclusive of transaction costs, taxes and the release of accumulated foreign currency translation reserves equates to a circa $30 million loss on sale completion for ANZ.

Treasury Wine Estates will be on watch.
The shares of Treasury Wine Estates Ltd (ASX: TWE) will be on watch on Friday after heavy declines on Thursday. Reports in the AFR of a supply glut in China weighed heavily on the wine company’s share price. Management has refuted the claims, but the media outlet has stated that short sellers aren’t convinced. Though it is worth pointing out that only a paltry 0.8% of the wine company’s shares were held short at the last count.

ASX shares ending the week with a bang

Australian Stock Markets

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains and is in the red once again. At the time of writing the benchmark index is down 0.15% to 6,084 points.

Four shares that have defied the market and pushed higher are listed below. Here’s why they are ending the week with a bang:

The Codan Limited (ASX: CDA) share price has jumped 7% to $2.94 after announcing a $9.5 million deal between its Minetec business and mining behemoth BHP Billiton Limited (ASX: BHP).


Minetec will supply its Fleet Management System to BHP’s Olympic Dam mine. As a result, full year underlying net profit after tax is now expected to be in the region of $38 million in FY 2018. Think Codan still looks to be good value despite its strong rise over the last 12 months.

The CSL Limited (ASX: CSL) share price has climbed 4% to $182.60 after the biotherapeutics company upgraded its full-year earnings guidance.

Thanks to the strong performance of its core business and a severe northern hemisphere influenza season, CSL now expects full-year net profit after tax in the range of US$1,680 to US$1,710 million, compared to previous guidance of US$1,550 to US$1,600 million.

The Smart Parking Ltd (ASX: SPZ) share price has rebounded almost 33% to 34.5 cents after providing clarity on the sudden termination of both its UK managing director and UK finance director.

The company advised that the two directors “were not operating in good faith and there was evidence they had breached a number of their employment conditions, including in relation to their entitlements and the amount of time they were spending in the business.” Smart Parking’s shares halved in value yesterday when it was first announced.

The Xanadu Mines Ltd (ASX: XAM) share price has stormed 12% higher to 23.5 cents after the copper and gold exploration company experienced significant insider buying.

No less than three of the company’s directors have been buying Xanadu Mines’ shares this week through on-market trades.

ASX: Things to watch today

Australian Stock Markets

On Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a disappointing day of trade and finished the day with a decline of 0.6% to 6,097.8 points.

Will the benchmark index be able to bounce back with a gain today? Here are five things that could impact trade on Wednesday.

ASX futures are pointing lower.
According to the latest SPI futures, the Australian share market is expected to open the day lower by 7 points or 0.1% following sizeable declines on Wall Street overnight. The Dow Jones fell 0.8%, the S&P 500 dropped 0.7%, and the Nasdaq ended the day 0.8% lower.

U.S. treasury yields widen.
One driver of the decline on Wall Street was a positive U.S. retail sales data release which has led to the market predicting that the Federal Reserve will raise rates three more times this year. This took 10-year Treasury Yields to 3.08% and the U.S. dollar index to its highest level in 2018. Bond proxies such as Transurban Group (ASX: TCL) could potentially come under pressure today.

The gold price is falling.
The rising U.S. dollar and widening bond yields also hit the gold price. The spot gold price is currently down almost 1.8% to US$1,290 an ounce. This could put the shares of gold miners including Newcrest Mining Limited (ASX: NCM) and Resolute Mining Limited (ASX: RSG) under pressure on Wednesday.

Myer releases its quarterly sales update.
Embattled department store Myer Holdings Ltd (ASX: MYR) is expected to release its sales update for the March quarter this morning. A broker note out of Citi yesterday reveals that its analysts expect Myer to report a 4.9% drop in quarterly sales. The broker was concerned that the warm start to winter could be an issue for the retailer, putting it on a path towards breaching its debt covenants.

Telstra will be on watch again.
The Telstra Corporation Ltd (ASX: TLS) share price will be on watch again on Wednesday. The telco giant’s shares have now shed over 10% of their value this week following the release of a trading update. The market appears to be unconvinced that Telstra’s 22 cents per share dividend is sustainable. Citi put a sell rating and $2.70 price target on Telstra’s shares yesterday.

Things to watch on the ASX on Tuesday

Australian Stock Markets

Will the market be able to build on this on Monday's solid start to the week? Here are five things that could shape the day’s trade:

On Monday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had a solid start to the week and finished the day 0.3% higher at 6,135.3 points.

ASX futures are pointing higher again.

According to the latest SPI futures, the Australian share market is expected to open the day 2 points higher following a mixed night of trade in U.S. markets. The Dow Jones ended the day 0.3% higher, the S&P 500 was up 0.1%, and the Nasdaq ended 0.1% higher.

Oil prices rebound.
Energy producers BHP Billiton Limited (ASX: BHP) and Woodside Petroleum Limited (ASX: WPL) will be on watch after oil prices rebounded strongly after a spot of weakness. According to Bloomberg, WTI crude oil climbed 0.6% to US$71.11 a barrel and Brent crude oil rose 1.7% to US$78.43 a barrel. Overnight OPEC lifted its forecast for global oil demand growth this year.

Reserve Bank minutes.
The minutes from the latest Reserve Bank of Australia meeting will be released later this morning. Although there is unlikely to be any bombshells in the minutes, the market will be looking out for any change in rhetoric around Australian wage growth. In addition to this, deputy governor Guy Debelle is due to give a speech this morning.

NAB shares go ex-dividend.
The shares of National Australia Bank Ltd (ASX: NAB) are likely to sink into the red this morning after going ex-dividend for the bank’s 99 cents per share fully franked interim dividend. Eligible shareholders will receive this dividend in their nominated account on July 5. Eligible shareholders of Premier Investments Limited (ASX: PMV) are due to be paid the retail conglomerate’s interim dividend today.

Telstra shares will be on watch.
Telco giant Telstra Corporation Ltd (ASX: TLS) will be on watch on Tuesday after Monday’s 5% slide. According to a note out of Goldman Sachs, the broker has reduced its earnings forecasts in light of yesterday’s update but still sees a lot of value in the company’s shares. It has a buy rating and reduced price target of $3.90 on its shares.