Good morning and welcome to ASX At Breakfast. IM Rachael Jones, reporting live from the
Kalkine Studio in Sydney Australia. The (1)Australian shares are expected to rise
at the open on Thursday following a rebound by Wall Street in the overnight trade. The
latest SPI futures indicate that the ASX 200 would open 3 points higher. On Wednesday,
the benchmark index closed 2.6% lower at 6,828.6 points. Meanwhile, the August labour force
report is scheduled to be released at 11.30 AM AEST on Thursday.
One of Australia’s first fintechs (2) Tyro Payments has announced the appointment of
Jon Davey as new Chief Executive Officer. He is currently CEO of Tyro’s Health business,
having joined Tyro in May 2021 following Tyro’s acquisition of health fintech Medipass, which
he led. He will officially commence as CEO on 3 October 2022. He takes over from utgoing
CEO and Managing Director, Robbie Cooke.
(3) Link takeover approved by FIRB
Australia’s Foreign Investment Review Board has approved Dye & Durham proposed takeover
of Link Administration Holdings. Dye & Durham has received written confirmation from FIRB
that the Commonwealth Government has no objection to the proposed acquisition of Link Group
by Dye & Durham by way of scheme of arrangement. The FIRB condition contained in the Scheme
Implementation Deed has therefore been satisfied.
(4) Janison Education Group has been awarded a global agreement with Cambridge University
Press & Assessment, the world’s largest assessment publisher. Janison will provide
its digital assessment technology and event support services to enable Cambridge University
Press and Assessment to develop and deliver a range of existing and new assessment products
globally. Signed with Cambridge’s global headquarters in the UK, the three-year umbrella
agreement is worth approximately $1 million.
Now it’s time for as short break – but stay tuned for more news, set to effect
the trading day.
----------------
Welcome back to the ASX at Breakfast Report. On Wall Street, (5) The Dow Jones surged 0.1%,
the S&P 500 soared 0.35% and the NASDAQ ended 0.74% higher. Wednesday's inflation data was
more benign, showing producer prices declined for a second straight month in August as gasoline
prices fell further, but was not enough for investors to reconsider the Fed's aggressive
stance.
In Europe, the Stoxx 50 fell 0.5%, the FTSE dipped 1.5%, the CAC dropped 0.4%, and the
DAX ended 1.2% lower. MSCI's All Country World index shed 0.33%. Oil prices rose on
Wednesday amid expectation of an increase in gas-to-oil switching due to high prices
this winter, even though the outlook for demand remains subdued. (6) WTI crude closed
up 1.34% at US$88.48 per barrel. Brent crude settled at US$94.10, up 1% on the day. Gold
prices fell on Wednesday below the key US$1,700 per ounce level on expectation of a steep
rate hike from Fed, taking some sheen off the non-yielding precious metal. (7) US
gold futures settled 0.5% lower at US$1,709.10. 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