Hello, I'm Sage and thanks for joining me on Kalkine TV for Top ASX Buzzing Stocks For the Day.
Let's look at the ASX listed five stocks that are in the news today
because of the price-sensitive announcement.
Australian bank and financial services provider Westpac Banking Corporation
in its market update announcement said that they will revamp its operations to using 100%
renewable electricity and reduce lending to coal, oil and gas companies. The bank also said that it
will target zero lending to companies with more than 5% of their revenue coming directly from
thermal coal mining by 2030 and will continue to provide corporate lending where the customer has a
credible transition plan in place by 2025. Westpac plans to sign Net-Zero Banking Alliance commitment
so that the company can achieve 2030 targets to reduce their financed emissions. As of March 2022,
company’s total committed exposure to oil and gas extraction stood at $2.4 billion.
Today, Westpac shares traded at around AU$$21.17, up by 0.18% at the opening of the market.
Next, mineral exploration company IGO announced its quarterly report for the period ended 30
June 2022. The company said that its group sales revenue of A$278 million and underlying EBITDA
of A$258 million for the quarter were driven by record sales revenue at Nova and increased
net profit from its incorporated joint venture Tianqi Lithium Energy Australia Pty Ltd. IGO’s
Nova nickel production was 3% higher quarter on quarter and within guidance
while cash costs were also within guidance.
Also, the company’s greenbushes spodumene concentrate production was 25% higher quarter
on quarter. It also completed the acquisition of Australia's highest grade, lowest cash cost nickel
producer Western Areas on 20 June 2022. Today, IGO shares traded at AU$9.98, up 0.20%.
Next, mineral explorer and developer New World Resources has requested that its
securities to be placed in a trading halt for the purpose of considering,
planning and executing a capital raising. The company has requested that the trading halt
continue until the earlier of the commencement of normal trading on Friday 29 July 2022
or when an announcement is made by the company regarding the capital raising.
Moving on, battery materials and technology company, NOVONIX today release its quarterly
activities report for April – June 2022. In June, the company in partnership with Emera
Technologies, announced delivery of their first-of-its-kind, custom-designed microgrid
battery prototype. A diversified energy manufacturing and logistics company,
Phillips 66 announced strategic investment in NOVONIX during the period. Phillips
66 subscribed for more than 77 million ordinary shares for a total purchase price
of US$150 million and nominated Zhanna Golodryga to its Board of Directors. NOVONIX shares
were trading at AU$2.44, down 1.21%, during the opening trading session on ASX.
Lastly, drone protection devices maker DroneShield today announced that it has received a repeat
order for its counter drone solutions in amount of approximately $500 thousand from a high-profile
US Government Agency. The payment for the order is expected to be received in full in the current
September 2022 quarter. DroneShield’s CEO, Oleg Vornik, said that this repeat order
from a customer with some of most demanding and complex government agency requirements globally,
shows the industry leading capabilities of DroneShield products.
Today DroneShield shares traded at AU$0.18, up 1.36%.
ALRIGHT, that's all for this edition of Top ASX Buzzing Stocks For the Day;
another episode is coming your way. Until then, make sure to keep it locked on Kalkine TV for
the latest market insights and business news. I'm Sage, signing off for now.