Why these 4 ASX shares are starting the week on a high

Australian Stock Markets

Four shares that have climbed more than most today are listed below. Here’s why they have started the week on a high:

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is fading but is still on course to make a positive start to FY 2019. At the time of writing it is up 0.1% at 6,201.2 points.

The EBOS Group Ltd (ASX: EBO) share price has surged almost 5% higher to $17.67 after it announced that it has won the tender to act as the exclusive third party distributor of pharmaceutical products to more than 400 Chemist Warehouse and My Chemist stores in Australia.

The five-year deal is expected to generate sales of approximately A$1 billion in the first year of the agreement.
 
The EML Payments Ltd (ASX: EML) share price has jumped 8% higher to $1.52 after entering into a multi-year agreement with UK-based GVC Holdings for the provision of branded reloadable cards for their European online gaming brands.

No financial details have been provided, but management expects the gross debit volume to revenue conversion ratio to be materially in line with other reloadable card programs the group operates.

The Mitula Group Ltd (ASX: MUA) share price has pushed 3.5% higher to 74 cents after its takeover approach moved a step closer to completion. According to today’s release, the shareholders of LIFULL Co have met and approved the issue of shares to Mitula shareholders in connection to the proposed scheme of arrangement.

The scheme remains subject to approval by Mitula shareholders, approval by the Supreme Court of Victoria, and other customary conditions.

The Yancoal Australia Ltd (ASX: YAL) share price has climbed 3.5% to 14.5 cents after the coal miner announced that it has applied for a dual listing on the Hong Kong Stock Exchange.

Management advised that it has applied for the dual listing in the interests of increasing liquidity in its shares and to help further diversify its investor base. It also announced an impending capital raising, though no details were provided.

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.

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.

ASX shares ending the week on a high

Australian Stock Markets

Although it has given back some of its early gains, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week with a gain. In afternoon trade the benchmark index is up 0.1% to 6,126 points.

Four shares that are climbing more than most today are listed below. Here’s why they are ending the week on a high:

The Pendal Group Limited (ASX: PDL) share price has climbed a further 5% to $10.26. The shares of Pendal, formerly known as BT Investment Management, have been on a tear since the release of its half-year results on Thursday.

One broker that was impressed was Macquarie. A note out of its equities desk reveals that its analysts have retained their outperform rating and lifted the price target on its shares to $11.00.

The Perpetual Limited (ASX: PPT) share price has pushed 5% higher to $42.75 after the fund manager announced the appointment of a new CEO.

According to the release, Rob Adams will join the company as its new managing director and CEO on September 24. Adams is currently the Head of Pan-Asia at Janus Henderson Group (ASX: JHG).

The REA Group Limited (ASX: REA) share price is up 5% to $88.66 after the real estate listings company released its quarterly update.

Investors appear to be pleased with the company’s 19% jump in earnings before interest, tax, depreciation and amortisation (EBITDA) before non-recurring transactions.

Management advised that the impressive result was driven by the strength of the company’s residential and commercial businesses and the inclusion of the financial services business.

The Super Retail Group Ltd (ASX: SUL) share price is up 2% to $7.87 thanks to the release of a positive broker note out of Ord Minnett.

According to the note, the broker has upgraded Super Retail’s shares to a buy rating with an increased price target of $9.00. I would agree with Ord Minnett and think investors ought to consider buying shares.

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8@eight: Stocks to open flat after Fed sparks late Wall Street selloff

The Australian sharemarket is set to open flat, with S&P/ASX 200 futures giving up most of their gains as the US sharemarket turned negative in the final hour of trading.

Wall Street assessed the Federal Reserve's signal that it's in no rush to raise rates even as inflation rises to its target, sparking inflation concerns. The US central bank left interest rates unchanged, but kept the door open for a rate rise in June.

Aussie Dollar: The Australian dollar has followed Wall Street lower after the US Federal Reserve indicated that it is on track to raise its interest rate at its next policy meeting in June.

At 6:35 am AEST on Thursday, the local currency was worth 74.86 US cents, down from 75.11 US cents on Wednesday. Currency traders are now looking to upcoming economic data such as March trade figures and service sector PMIs for April. 

Australian shares: The S&P/ASX 200 rose 0.6 per cent to 6,050 on Wednesday, powered by Qantas Airways. The nation's biggest airline joined the global earnings party after forecasting record annual profit and excited investors with the order of six new 787 Dreamliners.

Twenty stocks hit 52-week highs during Wednesday's session, with only two hitting 52-week lows.

In economics news on Thursday, the Australian Bureau of Statistics releases building approvals figures for March, and international trade data, also for March. 

On the companies side, National Australia Bank releases its half year results, and QBE Insurance and Santos hold their annual general meetings.

ASX: Shares that have hit 52-week highs

Australian Stock Markets

These 3 companies are sitting at 52-week highs, with their 1-year share price graphs looking pretty healthy at present.

Premier Investments Limited (ASX: PMV)

Specialty retail mover and shaker Premier Investments Limited hit a 52-week high today when its share price surged to $15.47, up from a 52-week low of $12.01 with investors rallying behind the company as Chairman Solomon Lew takes a firm stand on skyrocketing commercial rents.

Lew has threatened to pull the company’s high-sales brands, including stationary supplier Smiggle and well-known sleepwear giant Peter Alexander, from shopping centre sites where cheaper rates are given to overseas competitors.

Strong sales out of Smiggle was behind Premier Investment’s 9.3% rise net profit when half-year results were released last week, with NPAT at $78.6 million and underlying EBIT at $102.5 million – the first time Premier has booked a result above $100 million for half-year results.

Shareholders have been extra buoyed by the announcement of a 29c per share fully-franked dividend – an increase of 11.5% on dividends from the previous corresponding period.

Headlines like Lew’s strong stance against unworkable commercial rents have done little to dampen investor sentiment, possibly even giving it a further boost – although Lew is usually true to his word.

Premier pulled its flagship Portman’s store out of Melbourne’s Bourke Street Mall last year when rent negotiations failed with the landlord.

Premier owns a 10.8% stake in department store chain Myer Holdings Ltd (ASX: MYR), which is expected to hand down hotly-anticipated financial results this week.

Northern Star Resources Ltd (ASX: NST)

Shares in gold production and exploration company Northern Star Resources Ltd were up 1.2% at the time of writing to $6.69 – a 52-week high for the stock which has tracked up steadily from a 52-week low of $3.95.

Northern Star has possibly joined its peers as a “safe haven” stock in the last two weeks as investors rattled by US index slumps rallied around blue chip resource players they felt they could trust, with shares in Evolution Mining Ltd (ASX: EVN), Resolute Mining Limited (ASX: RSG) and Regis Resources Limited (ASX: RRL) also showing upward trends in share price as volatile conditions played out in other market sectors.

Northern Star recently announced its move to gobble up Westgold Resources Ltd’s (ASX: WGX) South Kalgoorlie operations for $80 million in an effort to add mill capacity to its operations to meet its production goals.

All eyes are on the company’s Millennium Mine project for the second half of FY18, which is speculated to increase NPAT.

Nine Entertainment Co Holdings Ltd (ASX: NEC)

Shares in Australian media and entertainment group Nine Entertainment Co Holdings Ltd are down 3.35% at the time of writing to $2.31 after a stellar track upwards in the last 12-months to hit a 52-week high of $2.39 on March 19.

Nine has suffered through some bad publicity this week after morning show anchor Karl Stefanovic hit the headlines for an unsavoury public discussion with his brother that saw the pair berate network colleagues.

Shares in Nine Entertainment have trended upwards steadily since the release of half-year results in late February which saw net profit and revenue jump 55% and 9% respectively.

But Nine has followed peers Seven West Media Ltd (ASX: SWM), HT&E Ltd (ASX: HT1) into the red today, with Seven dropping to 57c per share at the time of writing and HT&E sliding 2.2% to $1.78.

These 4 ASX shares started the week with a bang

Australian Stock Markets

Four shares which have climbed more than most today are listed below. Here’s why they have started the week with a bang:

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has started the week with a move higher. At the time of writing the benchmark index is up 0.3% to 5,967 points.

The Bellamy’s Australia Ltd (ASX: BAL) share price has climbed 4% to $22.02 despite there being no news out of the goat’s milk infant formula and baby food company. In earlier trade Bellamy’s shares reached an all-time high of $22.18. The company’s shares landed in the S&P/ASX 200 this morning at the quarterly rebalance. This could have opened it up to fund managers that are unable to buy shares from outside the benchmark index.

The Bravura Solutions Ltd (ASX: BVS) share price is up to $2.52. This morning the fintech company’s shares were added to the S&P/ASX 300 Index after being included in the latest quarterly rebalance. I think Bravura is a great company and well worth considering. Especially given the success of its increasingly popular Sonata wealth management platform. Sonata revenues grew 35% during the first-half and now account for 55% of its total revenue.

The Kidman Resources Ltd (ASX: KDR) share price is up over 5% to $2.24 after providing an updated mineral resource estimate (MRE) for its Earl Grey operation. According to the release, management has lifted its MRE by 54% to contain 189 million tonnes of 1.50% Li2O or 7.03 million tonnes of lithium carbonate equivalent. This makes the operation one of the world’s most significant hard rock lithium deposits.

The Santos Ltd (ASX: STO) share price has risen almost 2.5% to $5.01. A number of energy producers have risen strongly today after the oil price pushed higher at the end of last week. While it wouldn’t necessarily be my first pick in the industry, if oil prices continue to climb higher then Santos could be worth a look.

ASX: Why these 4 ASX shares are ending the week on a high

Australian Stock Markets

Four shares that have climbed more than most today are listed below. Here’s why they are ending the week on a high.

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week with a push higher.

The Nuheara Ltd (ASX: NUH) share price has rocketed 26% higher to 12.5 cents after the hearing solutions company announced that it has successfully registered as an approved supplier to the Australian Government’s Hearing Services Program (HSP). The HSP allows eligible Australians access to free and subsidised hearing devices like Nuheara’s wireless earbuds, IQBuds.

The Premier Investments Limited (ASX: PMV) share price is up 5.5% to $15.20 following the release of a solid half-year result. According to the release, the retail conglomerate reported total revenue of $634 million and EBIT of $102.5 million. This was a 6.8% and 10.2% increase, respectively, on the prior corresponding period. Once again, the main driver of this growth was its Smiggle brand. Global Smiggle sales grew 26.7% on the prior corresponding period to $170.7 million.


The South32 Ltd (ASX: S32) share price is up 5% to $3.36 after Credit Suisse upgraded the mining giant’s shares to a neutral rating from underperform. While the move was made largely on valuation grounds, an increase to the broker’s price forecasts for aluminium, copper, and metallurgical coal supported the change of rating. South32’s shares have, however, now surpassed the broker’s $3.30 price target.

The Wesfarmers Ltd (ASX: WES) share price is up 6% to $43.79 after announcing plans to spin-off its Coles supermarket business. According to the release, Wesfarmers has made the move due to the supermarket’s lower growth outlook. Management believes that divesting Coles and focusing on its businesses with stronger earnings growth potential in the future will create the most value for shareholders. Wesfarmers will retain a substantial stake in FlyBuys and up to 20% of Coles’ shares.

ASX: These shares are pushing higher today

Australian Stock Markets

Four shares that have managed to defy the market today are listed below. Here’s why they have pushed higher:

In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for its third successive day of declines and is down 0.15% to 5,926 points.

The Altura Mining Ltd (ASX: AJM) share price has stormed 8% higher to 42.5 cents after the prospective lithium producer advised that it has been in discussions with Shaanxi J&R Optimum Energy Co. regarding a potential control transaction. Management has, however, warned that these discussions with the vehicle battery developer are at an early stage and there is no guarantee that anything will come of it.

The Argosy Minerals Limited (ASX: AGY) share price has climbed 7.5% to 35.5 cents.

This morning the lithium-focused mineral exploration company announced that it has been granted approval to construct the remaining stage 2 lithium evaporation ponds at its Rincon Lithium Project in Argentina.

In addition to this, it stated that its stage 1 lithium brine concentrate processing work is imminent.

The Experience Co Ltd (ASX: EXP) share price has pushed 10% higher to 72.5 cents despite there being no news out of the adventure company.

However, prior to today its shares were down 26% year-to-date.

This could mean that bargain hunters think its shares have fallen too far now and have swooped in.

The SKY and Space Global Ltd (ASX: SAS) share price is up 4% to 13 cents after the global communication infrastructure company announced that it has signed an operational evaluation agreement with Globalsat Group.

The agreement aims to formalise the final step towards providing machine to machine and Internet of Things services in Central and South America.

This is expected to lead to the signing of a commercial binding agreement within two months.