Hello everyone! Good morning. This is Holly live from Kalkine Studio in Sydney. And you’re
watching the Early Trades.
The S&P/ASX200 is up today, gaining 8.30 points or 0.13% after setting a new 52-week low. The
top performing stocks in this index are sports and racing betting platform PointsBet up by
11.63% and innovative medical devices maker Polynovo up by 6.74%. Over the last five days,
the benchmark index has lost 6.48% and 12.02% over the last 52 weeks. 7 of 11 sectors
are higher today. A-REIT is the best performing sector, gaining 1.43% and rebounding from
its recent decline, the sector is down 4% for the past five days.
Let’s look at other notable gainers on ASX today.
Regenerative medicine company Mesoblast was up by 6.61%, data company Appen was up by
6.45%, retailer Harvey Norman was up by 4.45%.
ASX stocks that were bleeding in red include dairy and food company Bega Cheese down by
6.20%, oil and gas exploration and production company Beach Energy down by 5.91%, Gold ore
mining company Silver Lake Resources down by 4.92%, uranium production company Paladin
Energy down by 4.61% and another gold mining company St. Barbara down by 4.54%.
Now, Let’s look at some of the stocks making a buzz today in the opening session of ASX.
Starting with news coming from global ship building company, Austal. It has been awarded
two contracts worth more than $300 million combined, which the company says helps diversify
its long-term revenue base. Austal will sustain two cape-class patrol boats the company built
for the government of the Republic of Trinidad and Tobago. It will also construct an additional
two evolved cape-class patrol boats for the Royal Australian Navy, announced by the Australian
government in April 2022. Shares of Austal were trading at AU$1.87 up by 0.81% in the
opening session of ASX.
Next is, owner and operator of natural gas and electricity assets APA Group. The company
has executed a 30-year gas transportation and storage agreement and a development agreement
with electricity generation and retailing company Snowy Hydro. It will connect the Sydney
to Newcastle pipeline to the Hunter Power project at Kurri Kurri in NSW, and a 70 terajoule
gas storage facility to service the Hunter Power project and would be targeting completion
by late 2023. APA Group’s total construction cost for the project is currently estimated
to be about $264 million. Shares were trading at AU$11.15 down by 0.98% in the opening session
of ASX.
Lastly, sports and racing betting platform, PointsBet has secured a $94.16 million investment
from SIG Sports Investment Corp, a member of the Susquehanna International Group of
Companies. The agreement means PointsBet will issue 38.75 million shares to SIG Sports at
a price of $2.43 a share, representing a 15 per cent premium compared to the five-day
volume weighted average price to June 17. Upon issuance, this investment will represent
12.8 per cent of PointsBet’s issued capital and make SIG Sports the company’s largest
shareholder. Although, there is no change to PointsBet’s board as a result of the
equity placement. Shares of PointsBet were trading at AU$2.34 up by 8.60% in the opening
session of ASX.
Well, that’s all for now on the early trades! Stay tuned to Kalkine TV, as we have many
more shows lined up for you for sharing live updates across the economy, markets, and sectors.
This is Holly signing off!