Stocks of the Hour: Novatti, Woolworths, NRW & Unibail-Rodamco-Westfield

Company News

by Melissa Darmawan

Digital banking and payments company Novatti (ASX:NOV) has been selected by Afterpay (ASX:APT) for the delivery of its payment card program in New Zealand. As part of the partnership, New Zealand Afterpay users will access payment cards in their digital wallet leveraging Novatti’s license with Visa. The initial three-year agreement will consist of Novatti receiving project set up, monthly recurring and transaction-based fees dependant on the take up of the service. Shares in Novatti (ASX:NOV) are trading 32.65 per cent higher at 65 cents.

Australia’s biggest grocery distribution chain Woolworths (ASX:WOW) has announced its withdrawal of a Dan Murphy Store construction project in Darwin. The decision came on the back of findings from an independent inquiry coordinated by lawyer Danny Gilbert which recommended against the progression of the liquor store establishment. The Gilbert Review determined that the development would not be in the best interests of the nearby local Aboriginal community in Bagot; as the supermarket operator had not adequately addressed indigenous issues around the project. Shares in Woolworths Group (ASX:WOW) are trading 3.33 per cent lower at $40.03.

Infrastructure firm NRW Holdings (ASX:NWH) has confirmed that its mineral processing specialist Primero Group has inked a $135 million deal to provide services to ASX-listed miner Strandline Resources (ASX:STA). Primero has been selected as the contractor to oversee engineering, procurement and construction operations at the Coburn Minerals Sands project near Shark Bay. Shares in NRW Holdings are trading 2.56 per cent higher at $2.00.

Unibail-Rodamco-Westfield (ASX:URW) has announced the sale of its 45 per cent stake in their Vienna Shopping City Süd and also announced the phased disposal of Aupark shopping centre in Bratislava, southwest of Solvakia for €1.35 euros which is $2.1 billion Australian dollars. The news follows their first quarter 2021 results with the company reporting turnover figures down 40.8 per cent year-on-year with rental income down 30.4 per cent impacted strongly by ongoing covid-19 restrictions and centre closures. Shares in Unibail-Rodamco-Westfield’s (ASX:URW) are trading 1.63 per cent lower at $5.44.

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