Monthly Archives - March 2020

Emergency rate cut from the Fed: ASX set to open lower

04 Mar 2020 - Following negative leads from US markets, the ASX looks set to open lower this morning. In the US the Federal Reserve, in a surprise move, cut its benchmark interest rate by 50 basis points to help with the economic stress caused by the coronavirus. Wall Street initially rallied but then experienced a drop. Westgold Resources (ASX:WGX) reports that underground sub-level cave stoping has recommenced at the Big Bell underground mine.

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Engenco (ASX:EGN) sell rail wagon fleet

04 Mar 2020 - Industrial engineering services group, Engenco (ASX:EGN) is pleased to announce that its subsidiary, Gemco Rail has crystallised an unconditional sale agreement to sell its remaining rail rental wagon fleet.

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RBA cuts rates to 0.5%: ASX closes 0.7% higher

03 Mar 2020 - The ASX rose at the open and the local bourse managed to close 0.7% higher. The Reserve Bank of Australia delivered a 25-basis-point cut, taking the cash rate to the historic low of 0.5%. Regenerative medicine company AVITA Medical (ASX:AVH) today announced the initiation of the enrollment of the first patient at the Arizona Burn Centre in Phoenix, Arizona.

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Current account surplus recorded: ASX tracking 1.9% higher at noon

03 Mar 2020 - The ASX rose at the open and is now tracking 1.9% higher at noon. Shares in Clinuvel (ASX:CUV) rose today after reporting yesterday that their supply of Scenesse – its photoprotective drug – has not been affected by coronavirus. Bega Cheese (ASX:BGA) shares are also on the rise after they reported yesterday a significant increase in earnings. Atlas Arteria (ASX:ALX) is pleased to announce that it has completed the APRR Transaction.

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