Good morning and welcome to ASX At Breakfast. IM Rachael Jones, reporting live from the Kalkine
Studio in Sydney Australia. (1)The Australian shares are poised to fall again this morning,
tracking weak cues from Wall Street, a day after Reserve Bank of Australia (RBA) increased
interest rates and signalled more tightening to tame rising inflation. The latest SPI
futures indicate that the ASX 200 would open 40 points or 0.6% lower. On Tuesday, the benchmark
index closed 0.4% lower at 6,826.5 points. (1) Lake Resources has appointed David Dickson
to the role of CEO and Managing Director. He is an industry leader with over 30 years’ experience in
process technology, engineering, construction, and EPC cost management, across the energy sector. He
has a proven track record in successfully delivering multibillion dollar resource
projects. With globally significant lithium sites, Lake’s aspirational target is to reach capacity
of 100,000 tonnes per annum. (1) First Patient in US Canine
Cancer Trials Begins Treatment PharmAust clinical-stage biotechnology
company PharmAust has recruited the first pet dog with B cell lymphoma in its US
canine Phase 2 trial assessing the efficacy of Monepantel treatment. Up to ten dogs will be
treated in the US according to FDA pilot program guidelines. Within the last week the first dog
passed a physical exam and was sent home to start treatment with MPL tablets. Status of current
trial Veterinary trial centres have been set up in Australia, New Zealand and the United States
to evaluate the anti-cancer benefit of MPL in dogs newly diagnosed with B-cell lymphoma and
have not received any previous cancer treatment. (1) Restaurant Brands CEO and CFO to retire
Restaurant Brands New Zealand announced today that Russel Creedy, Group Chief Executive Officer,
and Grant Ellis, Group Chief Financial Officer, will both be retiring from the company
in 2023. They both played a key role in the company’s milestone of achieving
more than one billion New Zealand dollars in sales for 2021. Restaurant Brands has consolidated
its presence in the QSR market and now operates 359 KFC, Taco Bell, Pizza Hut, and Carl’s Jr
stores in New Zealand, Australia, California, and Hawaii plus is the master franchisor of
101 Pizza Hut stores in New Zealand. The company employs over 11,000 people across these countries.
Now it’s time for a short break – but stay tuned for more news, set to effect the trading day.
-@@@@@@@@@@@@@@@@@@@@@@@@--------------- Welcome back to the ASX at Breakfast Report.
Taking a quick look first up at the global markets. Yesterday global stock markets fell
as a US services industry report highlighted expectations that Fed would have to keep
hiking interest rates. On Wall Street, (1) The Dow Jones declined 0.55%, the S&P 500
slipped 0.4%, and the NASDAQ ended 0.75% lower. In Europe, the Stoxx 50 rose 0.3%,
the FTSE gained 0.2%, the CAC surged 0.2%, and the DAX closed 0.9% higher. MSCI's gauge of stocks
across the globe fell 0.47%. Oil prices slipped on Tuesday after concerns over demand increased
amid the prospect of more interest rate hikes. (1) Brent crude closed at US$92.83 per barrel,
losing 3%. WTI fell from Monday's trading to finish at US$86.88 a barrel,
up 1 cent from Friday's close. On Tuesday, the gold price declined after the US dollar
rallied and bond yields surged. (1) Spot gold fell 0.6% to US$1,700.37 an ounce.Well that’s
all for our ASX at Breakfast report this morning here at Kalkine TV. Have a great day trading and
stay tuned for more market updates and economic news live throughout the day. I’m Rachael Jones