Just months after Japan’s Itochu flagged plans to exit Whitehaven’s Maules Creek mine, a British investor is mulling offers for its right over the Narrabri mine.
ASX Update: Jobs boost fuels strong rebound
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A resilient ASX rebounded from six-week lows as stronger-than-expected jobs news helped offset wobbly US futures as the cryptocurrency maelstrom raged on.
The
S&P/ASX 200 rallied 56 points or 0.81 per cent by mid-session. Tech stocks, banks and REITS led the advance. Miners and coil companies declined following setbacks in iron ore, copper and crude overnight.
What s driving the market
Value hunters pounced as stocks opened at their cheapest level in around six weeks. The rally accelerated following news the
unemployment rate declined to 5.5 per cent last month from 5.7 per cent. The number of employed declined by 31,000, versus the market consensus of a gain of around 20,000. The dollar bounced 0.22 per cent to 77.37 US cents.
Revenue increased by 20% to $1.65 billion, underlying EBITDA rose 118% to $233.6 million and underlying earnings before interest and tax (EBIT) grew 1,590% to $130.4 million. Its operating profit improved to a profit of $128.8 million.
The ASX 200 share reported that there was growth in all regions and ‘seed technologies’, with particularly strong growth in the Asia Pacific and European regions.
The Nufarm managing director and CEO Greg Hunt said:
Strong early demand and channel restocking in key markets has delivered a very strong first half result. We are realising benefits from the leverage of our APAC business to improved seasonal conditions and the earnings recovery in our European business is on track.
ASX rallies 1 3pc as Afterpay, banks jump afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
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Some of Australia’s sharpest minds in technology and innovation will share their experiences and expertise today with 380 school students at the BIG Day In IT Conference and Expo.
Students from public and private schools in Bunbury, Busselton and Margaret River, as well as the metropolitan area, from Darch in Perth’s northern suburbs to Wellard in the south and Ellenbrook in the east will attend the event.
Hosted by The University of Western Australia and run by the ACS Foundation, the BIG Day In features speakers from high-profile companies such as Microsoft, BHP, Bankwest, Technology One, Iluka, Westpac, Avanade Australia as well as Defence Force Recruiting.