ASX rises 1pc; BHP, Rio, Fortescue lead gains
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The market at midday
Resource Base dips on debut
William McInnes
Resource Base has dipped on its debut on the local sharemarket, despite the majority of gold miners trading higher.
Junior gold explorer had listed at 20¢ a share but inside the opening minutes of trading, was down 12.5 per cent to 17.5¢.
The company had raised $5.5 million through its initial public offering and listed with a market capitalisation of $10.7 million.
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Online broker SelfWealth to add crypto in Aussie first
Aleks Vickovich
ASX-listed share-trading platform SelfWealth will add cryptocurrencies as more than two thirds of its customer base of active traders and self-managed super investors hold or plan to invest in digital assets.
ASX rallies into EOFY; Telstra at 52-week high on capital return
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Duxton Broadacre to pay first dividend
Vesna Poljak
Duxton Broadacre Farms will pay its first dividend since listing in February 2018, declaring a return of 6.2¢ a share, unfranked, to be paid on July 30 after what it described as âthree of the harshest drought years on recordâ. The board will consider the payment of a further dividend in December, which will depend on the outlook of the 2021-22 winter crop.
18 mins ago â 1.29PM
Used car prices trigger 13pc Eclipx EPS upgrade
Vesna Poljak
Hot used car prices have invited an earnings upgrade for Eclipx from broker Macquarie because of the money it will earn on the sale of end-of-lease vehicles into the secondary market.
ASX falls; ex-div property stocks tank
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UBS increases Afterpay price target
Alex Gluyas
UBS’ historically bearish view on Afterpay has been lifted slightly, with the broker increasing its price target on the buy now, pay later giant after its launch of one-time cards which the broker said evolves its revenue model.
“The launch of one-time use cards that can be used at non-integrated merchants such as Amazon, significantly increases Afterpay’s total addressable market,” UBS analyst Tom Beadle said.
More significantly, Mr Beadle pointed to the fact that this represents an evolution to Afterpay’s revenue model from merchant fees to “affiliate marketing”.
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