Stocks of the Hour: Rio Tinto, Woolworths & Little Green Pharma

Rio Tinto (ASX:RIO) is projected to deliver on its iron ore commitments, despite the environmental challenges of Tropical Cyclone Seroja stagnating export activity from Western Australia. Rio reported a total exported iron ore volume of 77.8 million tonnes in the March quarter of FY21, marking the best quarterly performance by its iron ore section in 3 years.

Shares in Rio Tinto (ASX:RIO) are trading 0.8 per cent lower at $119.90.

Supermarket operator Woolworths (ASX:WOW) has upgraded its stake from 50 per cent to 75 per cent in data analytics specialist Quantium. The owner of Australia’s biggest supermarket chain has splashed $223 million to become Quantium’s majority stakeholder, according to Woolworth’s announcement today.

Shares in Woolworths (ASX:WOW) are trading almost 1 per cent lower at $41.59.

Western Australia-based medical cannabis grower Little Green Pharma (ASX:LGP) has sealed a supply deal and stamp a foothold in the Scandinavian health and recreational pot market. The $143 million company has officially become a supplier of medical cannabis oil and flowers to Danish distributor Balancial. The term of the agreement is 5 years, during which Little Green Pharma’s product prices will remain unchanged.

Shares in Little Green Pharma (ASX:LGP) are trading 2.6 per cent higher at 79 cents.
Copyright 2021 – Finance News Network

Source: Finance News Network