Tech stocks led gains on the ASX today, with the sector gaining 2.33%. The S&P/ASX200 closed 19.4 points, or 0.24%, higher to 8,029.9.
The IT sector was helped by a second straight day of strong performance from WiseTech Global, which rose a further 8% following yesterday's 17% rally. The leading software as a service (SaaS) provider for the global logistics industry reported revenue of $1.04 billion, up 28% on the year, while "EBITDA came in above our guidance range and EBITDA margin was 50% in the fourth quarter, over a full year ahead of expectations," said CEO Richard White.
Financial group ClearView ended the FY24 year with a statutory loss of $12.5 million as the former wealth manager refocuses on the life insurance sector only. The group had booked a profit of $8.9 million in FY23.
Whitehaven Coal (ASX:WHC) is selling a 30% stake in its Blackwater coal mine to Japanese steel giants Nippon Steel and JFE Steel Corporation for US$1.08 billion (~A$1.6 billion).
The company entered into separate deals with Nippon Steel and JFE Steel Corp to sell stakes in the mine of 20% and 10%, respectively.
Both companies are long-term consumers of the metallurgical coal produced by the Blackwater mine, and as part of the deal, Whitehaven has entered into offtake agreements with each company.
Whitehaven CEO Paul Flynn said the proceeds from the sell-down would strengthen Whitehaven’s balance sheet, “providing enhanced flexibility as we assess the range of competing opportunities for capital in line with our capital allocation framework’’.
A larger than expected final dividend has lifted Northern Star Resources (ASX:NST) almost 2% today, despite announcing soft earnings and profit miss.
Five at Five
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CSIRO and Google (NASDAQ:GOOGL) partner to protect critical Australian infrastructure from hazardous software components
In light of the recent Crowdstrike incident which saw 8.5 million Windows devices temporarily disabled due to a bad software update, the CSIRO has formed a research partnership with Google to protect crucial infrastructure (CI) from vulnerable software.
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Amplia Therapeutics: Advancing Pancreatic Cancer Treatment
Chris Burns, CEO of Amplia Therapeutics, shared promising updates with Steve Darling from Proactive regarding the company’s ongoing Phase 2a clinical trial focused on treating advanced pancreatic cancer.
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