Finance News Network - Latest News The latest news from Finance News Network across all categories. en Finance TV Pty Ltd - All Rights Reserved 30 Saturday Sunday Miners and bankers team up for comeback: Aus shares close 0.3% higher 07 May 2021 - The Australian sharemarket extended its advance in the afternoon trading session, as banks joined forces with miners to stage a broader comeback from yesterday’s weak performance. All the big four banks soared today. The Commonwealth Bank led the charge and was tracking 0.8 per cent higher in closing trade. Fri, 07 May 2021 06:20:00 GMT Market Reports Qantas (ASX:QAN) leases 5 more planes to boost domestic capacity 07 May 2021 - Australia’s national flag carrier Qantas (ASX:QAN) has activated its right under a wet lease arrangement with Brisbane-based airline operator Alliance Aviation (ASX:AQZ) to summon five aeroplanes. Fri, 07 May 2021 04:00:00 GMT Company News Gold and iron ore miners do heavy lifting: ASX tracking 0.4% higher at noon 07 May 2021 - The ASX picked up pace after a lackluster start, buoyed by advances in materials. Mining stocks are riding high on momentum from record-breaking iron prices, as the steel-making ingredient surpassed the US$200 mark. Mining giants BHP, Rio Tinto, Fortescue Metals were all in bullish territory by midday. Rising gold prices were also a stimulant for mining heavyweights, as Northern Star Resources (ASX:NST) and Newcrest Mining (ASX:NCM) were tracking 3 per cent higher before lunchtime. Fri, 07 May 2021 02:20:00 GMT Market Reports Stocks of the Hour: Macquarie Group, News Corp & Goodman Group 07 May 2021 - A recap of the companies grabbing headlines in the morning session, featuring Macquarie Group, News Corp & Goodman Group. Fri, 07 May 2021 01:55:00 GMT Company News Goodman Group (ASX:GMG) pivots towards inner-city warehousing 07 May 2021 - Commercial property company Goodman Group (ASX:GMG) has released data indicating the real estate player is on track to meet profit guidance for the financial year, reporting a 3 per cent increase in net property income. The industrial heavyweight highlights the encouraging data as vindication of its pivot towards inner-city warehousing. Fri, 07 May 2021 01:20:00 GMT Company News News Corp (ASX:NWS) projected to reach highest earnings level in 8 years 07 May 2021 - Media tycoon Rupert Murdoc’s News Corp (ASX:NWS) is projected to record the highest level of earnings in 8 years, having reported a 23 per cent hike in profitability in the March quarter of FY21. Fri, 07 May 2021 00:20:00 GMT Company News Macquarie Group (ASX:MQG)'s net earnings exceed forecasts by $170m 07 May 2021 - Investment bank Macquarie Group (ASX:MQG) revealed that the business achieved a 10 per cent increase year on year in net earnings to $3.02 billion for the fiscal year, exceeding forecasts by $170 million Thu, 06 May 2021 23:00:00 GMT Company News Dow and iron ore record highs lift sentiment: ASX to open higher 07 May 2021 - The ASX200 is poised to open the trading day on a positive note, following strong performances by Wall Street’s benchmarks and a surging iron ore price. Thu, 06 May 2021 22:40:00 GMT Market Reports Federal Court approves Estia (ASX:EHE)'s settlement of class action 07 May 2021 - Aged care operator Estia Health (ASX: EHE) has secured Federal Court approval for a settlement of a class action against the company over an alleged failure to uphold market disclosure obligations between 2015 and 2016. Thu, 06 May 2021 14:00:00 GMT Company News ASX retreats on Covid-19 jitters & geopolitical tension: Aus shares closes 0.5% lower 06 May 2021 - The local market closed in negative territory for the first time this week as Chinese officials suspend an economic dialogue with Australia, a move to show Beijing’s growing frustration with Canberra. Investor’s sentiment weakened as health authorities traced two new local covid-19 infections in Sydney, with a three-day restriction reintroduced to start at 5pm for greater Sydney residents. Thu, 06 May 2021 07:50:00 GMT Market Reports Monthly economic update with MLC, April 2021 06 May 2021 - MLC Asset Management Senior Economist Bob Cunneen discusses global shares' and the Australian market's 3.7% gain in April. Thu, 06 May 2021 07:10:00 GMT Funds Management Westfield owner Scentre (ASX:SCG) reconfirms its dividend 06 May 2021 - Owner and manager of Westfield shopping centres Scentre (ASX:SCG) reports a 27% increase in collected gross rent cash collections from January to April this year to $802 million when compared to the same time in 2020 Thu, 06 May 2021 05:55:00 GMT Company News Adore Beauty (ASX:ABY) up 47% in revenue for Q3 FY21 06 May 2021 - Online beauty retailer Adore Beauty (ASX:ABY) reports a 47 per cent rise in revenue to $39.4 million in the March quarter for Q3 FY21 when compared to the prior corresponding period Thu, 06 May 2021 04:55:00 GMT Company News AMP (ASX:AMP) cuts admin fees to boost wealth platform subscriptions 06 May 2021 - Under-pressure wealth manager AMP (ASX:AMP) has introduced cuts between 12 per cent and 22 per cent to its admin fees for superannuation and investment services. Thu, 06 May 2021 04:00:00 GMT Company News TPG (ASX:TPG) financial chief to depart 05 May 2021 - TPG Telecom (ASX:TPG)’s financial chief Stephen Banfield has announced his decision to leave his post at the company. Thu, 06 May 2021 03:15:00 GMT Company News Tech tumbles, NSW restrictions to start: ASX 0.3% lower at noon 06 May 2021 - The ASX dipped in morning trade after opening in the green with declines mainly broad-based with energy as the only standout sector in the green. Credit Suisse downgrades ANZ (ASX:ANZ) as a neutral. Thu, 06 May 2021 03:00:00 GMT Market Reports SeaLink (ASX:SLK) seals $114m deal to buy WA bus business 06 May 2021 - Tourist and travel services provider SeaLink Travel Group (ASX:SLK) has inked a $114 million deal to purchase Western Australia-based operator of modern charter, rental and tour vehicles Go West. Thu, 06 May 2021 02:00:00 GMT Company News Stocks of the Hour: NAB, Nearmap and Qantas 06 May 2021 - A snapshot of companies making headlines in this morning's session featuring NAB (ASX:NAB), Nearmap (ASX:NEA) and Qantas (ASX:QAN). Thu, 06 May 2021 01:50:00 GMT Company News Nearmap (ASX:NEA) faces legal action from rivals over alleged patent infringement 06 May 2021 - Eagle View Technologies and Pictometry International Corp have joined forces to begin legal proceedings in the United States District Court, accusing Nearmap US of breaching their patent rights to their roof-scaling technology. Thu, 06 May 2021 00:30:00 GMT Company News Dow Jones resets record high, Yellen clarifies inflation remark: ASX to edge higher 06 May 2021 - The ASX is to edge higher following a mixed lead from Wall St. Deputy Governor Guy Debelle is to deliver the “Monetary Policy during Covid” speech. SeaLink Travel (ASX:SLK) is set to acquire 100% of the WA-based Go West Tours. Citi upgrades Flight Centre (ASX:FLT) as a neutral. Wed, 05 May 2021 23:00:00 GMT Market Reports NAB (ASX:NAB) doubles previous payout on increased cash earnings 06 May 2021 - Banking giant National Australia Bank (ASX:NAB) has bumped up its interim dividend twofold from last year's payout to 60 cents per share, after its cash profit exceeded forecasts for the first half of FY21. Wed, 05 May 2021 23:00:00 GMT Company News Qantas keeps headquarters for state subsidies 06 May 2021 - Qantas (ASX:QAN) will continue its head office in Sydney and maintain their Jetstar operations in Melbourne following the start of their property footprint review in September 2020. Wed, 05 May 2021 14:00:00 GMT Company News ACCC plans to knock back Qantas & Japan Airlines route 06 May 2021 - The ACCC is planning to knock back the plan for Qantas and Japan Airlines to coordinate flights as the watchdog claims it breaches competition laws. Wed, 05 May 2021 14:00:00 GMT Company News Financials complement post-pandemic high: Aus shares close 0.4% higher 05 May 2021 - The ASX200 continued to hold ground in positive territory in the afternoon session, as the benchmark index notched a 14-month high at the close. The broader high was complemented by financials’ record levels, as CBA hit its six-month high and NAB reached an eighteen-month high during Wednesday’s trading session. Biotechnology CSL (ASX:CSL) led the advance of healthcare stocks. The mining sector extended yesterday’s upbeat performance to claw back losses by the tech sector. Losses in US tech stocks overnight set the foundation for declines in major Australian tech players such as Afterpay (ASX:APT) & Wisetech Global (ASX:WTC). Wed, 05 May 2021 06:00:00 GMT Market Reports Ardent Leisure (ASX:ALG) splurges $75 million on theme park resort 05 May 2021 - Entertainment park operator Ardent Leisure (ASX:ALG) is replicating a trend among the world’s most popular theme parks to provide on-site accommodation for visitors. The $384 million leisure company told investors it intends to invest $75 million in a resort facility called Dreamworld Resort within the vicinity of its Gold Coast theme parks Dreamworld and WhiteWater World in Queensland Wed, 05 May 2021 04:50:00 GMT Company News CSL (ASX:CSL) ramps up plasma production effort 05 May 2021 - Biomedical company CSL (ASX:CSL) has revealed the company is ramping up plasma production effort, increasing donor compensation fees and crowdsourcing ideas to optimise its plasma technology. Wed, 05 May 2021 04:00:00 GMT Company News Stocks of the Hour: ANZ, Westpac & Incitec Pivot 05 May 2021 - A snapshot of companies making headlines in the morning session featuring ANZ, Westpac & Incitec Pivot. Wed, 05 May 2021 02:45:00 GMT Company News Blue-chips power rally to post-pandemic high: ASX tracking 0.7% higher at noon 05 May 2021 - The Australian sharemarket opened higher and momentarily dipped into red waters in the early hours of trade, before blue-chip shares propelled the benchmark index past the 7100 mark. The post-pandemic intraday high was powered by banking and mining heavyweights. Wed, 05 May 2021 02:00:00 GMT Market Reports Incitec Pivot (ASX:IPL) secures fertiliser supply for 20 years 05 May 2021 - Chemicals manufacturer Incitec Pivot (ASX:IPL) has secured a prospective annual supply of up to 2.3 million tonnes of granular urea fertiliser for 20 years. Wed, 05 May 2021 01:30:00 GMT Company News RBA Monetary Policy, Westpac, Pinnacle Inv Mgmt, Deterra Royalties 05 May 2021 - Fund Manager Chris Pedersen looks at RBA Monetary Policy, Westpac Banking Corp (ASX:WBC), Pinnacle Investment Management Group (ASX:PNI) and Deterra Royalties Ltd (ASX:DRR). Wed, 05 May 2021 01:20:00 GMT Stock Watch ASIC accuses Westpac (ASX:WBC) of insider trading 05 May 2021 - Westpac (ASX:WBC) has confirmed awareness of legal action against the corporation by the Australian Securities and Investments Commission on account of alleged insider trading. Wed, 05 May 2021 01:00:00 GMT Company News ANZ (ASX:ANZ) doubles dividend on profit hike 05 May 2021 - Big-four bank ANZ (ASX:ANZ) has decided to double its interim dividend from last year’s rate to 70 cents per share, buoyed by increased cash profits and favourable economic conditions. The $82 billion company has reported an increase in cash earnings of 28 per cent, as ANZ snapped up cash profit of $2.99 billion in the six months ending on March 31. Wed, 05 May 2021 00:05:00 GMT Company News Tech shares tumble as Yellen raises tremors on a rate hike: ASX to fall 05 May 2021 - The ASX is to drop at the open following a mixed lead from Wall St. Nearmap (ASX:NEA) has increased its full-year guidance by 20-26 per cent for its annual contract value. Morgan Stanley upgrades Spark infrastructure (ASX:SKI) as an add. Tue, 04 May 2021 23:00:00 GMT Market Reports Upbeat economic guidance reinforces materials: Aus shares close 0.6% higher 04 May 2021 - The Australian sharemarket’s rally gained strength in the afternoon session from positive sentiment around the RBA’s supportive monetary stance and upbeat economic guidance. Gains by gold and iron miners continued to power materials’ elevation to the top of the sectors’ ladder. Both BHP (ASX:BHP) and Rio Tinto (ASX:RIO) had gained over 2.3 per cent by the close of trade. Energy and Consumer staples joined the top three performers, overpowering the downward pressure by IT. Tue, 04 May 2021 06:25:00 GMT Market Reports Stocks of the Hour: Telstra, nib Holdings, SEEK & ME Bank 04 May 2021 - Our recap of the top news for the hour featuring Telstra Corporation (ASX:TLS), nib Holdings (ASX:NHF), SEEK (ASX:SEK) & Bank of Queensland (ASX:BOQ). Tue, 04 May 2021 05:55:00 GMT Company News Treasury Wine Estates (ASX:TWE) upgrades distribution partnership with RNDC 04 May 2021 - ASX-listed winemaker Treasury Wine Estates (ASX:TWE) has stepped up its collaboration with US heavyweight distribution partner Republic National Distributing Company (RNDC). The Melbourne-headquartered wine company sealed a new distribution contract to expand market reach by nine new states in the North American country’s second-largest liquor distribution network. Tue, 04 May 2021 05:30:00 GMT Company News ME Bank criticised by banking watchdog 04 May 2021 - The Banking Code Compliance Committee (BCCC) has highlighted ME Bank (Members Equity Bank) as a violator of the banking code of conduct. Tue, 04 May 2021 04:00:00 GMT Company News First Graphene (ASX:FGR) Presentation, FNN Online Investor Event, April 2021 04 May 2021 - First Graphene Limited (ASX:FGR) Non-Executive Chairman Warwick Grigor provides an overview of the company, discussing the market for graphene, the PureGRAPH product, and the company's strategic roadmap. Tue, 04 May 2021 03:35:00 GMT Company Presentations IT & miners decelerate mining advance: Aus shares tracking 0.2% higher at noon 04 May 2021 - The ASX200 advanced after the opening bell, driven by a mining charge. Giant miners Rio Tinto (ASX:RIO) and BHP (ASX:BHP) continued to gain ground in the morning session, tracking 1.8 per cent and 1.6 per cent higher respectively by midday. Stateside declines in the tech sector were reflected in the Australian IT sector’s under-performance, as tech stocks such as Afterpay (ASX:APT) extended its weak form from yesterday. The banking sector was also a decelerator for the broader rise. Tue, 04 May 2021 02:00:00 GMT Market Reports SEEK (ASX:SEK) upgrades revenue guidance, rewards shareholders with bonus dividend 04 May 2021 - Recruitment platform SEEK (ASX:SEK) has decided to reward investors with a windfall dividend, utilising the funds generated from its sell down of Chinese counterpart Zhaopin. The employment website also upgraded FY21 revenue guidance by $40 million. Tue, 04 May 2021 01:30:00 GMT Company News nib (ASX:NHF) finalises sale of Whitecoat to CBA 04 May 2021 - Financial giant Commonwealth Bank (ASX:CBA) has finalised the transaction for online healthcare directory Whitecoat from health care fund nib Holdings (ASX:NHF). Tue, 04 May 2021 00:30:00 GMT Company News Wall St mixed, RBA cash rate to hold: ASX to rise 04 May 2021 - The ASX is set to rise following a mixed lead from the US. Electronic parts and service software company Infomedia (ASX:IFM) has entered into an agreement to acquire US-based e-commerce platform, SimplePart. Ord Minnett upgrades Resmed (ASX:RMD) as a hold. Mon, 03 May 2021 23:00:00 GMT Market Reports Telstra (ASX:TLS) served $1.5m fine for porting failure 04 May 2021 - Australia’s largest holder of telecommunications market share Telstra Corporation (ASX:TLS) has been served a $1.5 million penalty for depriving around 42,000 landline customers of the option to change service providers without losing ownership of their current phone number last year. Mon, 03 May 2021 23:00:00 GMT Company News Materials & IT push back banking charge: ASX closes flat 03 May 2021 - The broad market rally lost steam and decelerated after lunchtime. The ASX even momentarily descended into negative territory after 2pm and climbed back up to the green zone in the last hour of trade, lifted by gains in the big four banks. Miners were among the heaviest weights on the market, as BHP (ASX:BHP) and Rio Tinto (ASX:RIO) had shed 1.45 per cent and 0.9 per cent by 3.50pm. The tech sector also undermined gains by the Westpac-led banking charge, as Afterpay was tracking 3.2 per cent lower by the close of trade. Mon, 03 May 2021 06:30:00 GMT Market Reports Stocks of the Hour: Seven West Media, Ingenia & Namoi 03 May 2021 - A snapshot of companies making headlines in the afternoon session, featuring Seven West Media, Ingenia & Namoi. Mon, 03 May 2021 05:59:00 GMT Company News Ingenia (ASX:INA) on $40m shopping spree for QLD assets 03 May 2021 - Retirement & lifestyle property developer Ingenia Communities (ASX:INA) has spent $40 million on its shopping spree for assets in Queensland. Mon, 03 May 2021 05:15:00 GMT Company News Seven West Media (ASX:SWM) seals content distribution deals with Google & Facebook 03 May 2021 - Australia's largest diversified media corporation Seven West Media (ASX:SWM) has secured content distribution deals with digital conglomerate Google and social networking giant Facebook. Mon, 03 May 2021 04:30:00 GMT Company News Westpac leads defiance against Wall Street falls: ASX tracking 0.2% higher at noon 03 May 2021 - The Australian sharemarket lifted in opening trade, bouncing back from Friday’s lows and defying weak leads from Wall Street. Gains in the banking sector is powering the rally, as better-than-forecasts half-year earnings reports rocketed Westpac (ASX:WBC)’s shares to an 18-month high by 11am. Another engine elevating the market is the real estate sector, as shares in Charter Hall (ASX:CHC) and Goodman Group (ASX:GMG) rose 1.9 per cent and 1.35 per cent respectively by midday. Mon, 03 May 2021 02:00:00 GMT Market Reports Stocks of the Hour: Premier Investments, Worley & Novatti 03 May 2021 - A snapshot of companies making headlines for the hour, featuring Premier Investments (ASX:PMV), Worley (ASX:WOR) & Novatti Group (ASX:NOV) Mon, 03 May 2021 01:50:00 GMT Company News Worley (ASX:WOR) snaps up Sweden & US deals 3 May 2021 - Engineering solutions company Worley (ASX:WOR) has successfully snapped up two new deals in Sweden and the US. Mon, 03 May 2021 01:15:00 GMT Company News