Regis Recourses (ASX:RRL) completes Ben Hur acquisition: Aus shares 1% higher at noon

Market Reports

by Ortenzia Borre

The Australian share market opened higher this morning and is now trading 1 per cent up at noon. SkyCity Entertainment Group (ASX:SKC) is leading the top 200 gains at midday and Perseus Mining (ASX:PRU) coming in last.

The S&P/ASX 200 index is 60 points up at 6,123. On the futures market the SPI is 63 points up. 

Company news 

Regis Recourses (ASX:RRL) has completed its acquisition of the Ben Hur Mineral Resource. The company completed the acquisition of valuable resource and tenement holdings from Stone
Resources Australia (ASX:SHK). Regis is issuing a total of $10 million worth of Regis shares to Stone Resources. Infill drilling that seeks to upgrade and extend the resource will commence as soon as permitting is approved. Regis Managing Director, Jim Beyer, said “the acquisition of this resource and tenement package enables Regis to pursue the addition of the Ben Hur deposit to the Duketon Operation production portfolio”. Shares in Regis Recourses (ASX:RRL) are trading 2.2 per lower at $5.20.

Wisr (ASX:WZR) has launched a secured vehicle lending product, the second major product officially launched across all channels. The new product provides Wisr with an entry into the $33 billion dollar consumer vehicle finance market, immediately expanding Wisr’s addressable market opportunity. Wisr CEO, Anthony Nantes, said the "new secured vehicle product will set Wisr up for future growth in a significant market. As others retreat from the automotive finance market, we’re seizing opportunity as a disruptive new entrant, levering our experience and capability to underwrite personal loans, as well as the Wisr brand.” Shares in Wisr (ASX:WZR) are trading at 6.4 per cent higher at 21 cents.

Best and worst performers 

The best-performing sector is Financials, adding 1.9 per cent, while the worst performing sector is Materials, shedding 0.5 per cent. 

The best performing stock in the S&P/ASX 200 is SkyCity Entertainment Group (ASX:SKC), rising 7.8 per cent to $2.49, followed by shares in Flight Centre Travel Group (ASX:FLT) and Credit Corp Group (ASX:CCP)

The worst performing stock in the S&P/ASX 200 is Perseus Mining (ASX:PRU), dropping almost 5 per cent to $1.39, followed by shares in Spark Infrastructure Group (ASX:SKI) and New Hope (ASX:NHC)

Commodities and the dollar 

Gold is trading at US$1,949 an ounce. 
Iron ore price rose 2.1 per cent to US$127.31. 
Iron ore futures are pointing to a rise of 2.4 per cent. 
One Australian dollar is buying 73.30 US cents.