Master of the market comes in from the cold
Betr wants to buy Pointsbet for itself. The brainchild of the bookmaker is the country's most famous bookmaker (and Melbourne Storm chairman) Matthew Tripp. And by swallowing up the ASX-listed Blue Bet last year, Betr became a public company.
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Perth Now
7 hours ago
- Perth Now
ASX's flat start to new financial year
Australia's sharemarket closed flat to start the new financial year, despite a strong lead-in from Wall Street. The S & P/ASX 200 finished Tuesday's trading down just 1.20 points or 0.01 per cent to 8,541.10. The broader All Ordinaries also lost just 1.00 points or 0.01 per cent on Tuesday to 8,772.00. Australia's dollar continues to appreciate, with the local currency passing the 65.5 US cents overnight. Currently, $1 is buying 65.81 US cents. Five sectors finished in the green led by technology, consumer facing shares and utilities, while a further six traded lower. The ASX traded flat to star the new financial year. Picture Newswire/ Gaye Gerard. Credit: News Corp Australia The ASX 200 started the new financial year on a positive note, adding 34 points to reach a high of 8,576 during early trading only to slide back to trading flat by the close. This was despite a strong lead-in from Wall Street overnight where the S & P rose by 0.5 per cent, while the Dow Jones industrial average added 0.6 per cent and the tech heavy Nasdaq composite reached a new high, up 0.5 per cent. Australia's tech sector was among the major winners with accounting software provider Xero up 1.2 per cent to $182.03. Life360 jumped 4.4 per cent to $33.59, Dicker Data added 1.3 per cent to $8.18. The major four banks had a mixed day of trading on Tuesday. Bourse heavyweight Commonwealth Bank Australia (CBA) lost 1.2 per cent to $182.58, while NAB added 0.9 per cent to $39.70 and Westpac eked out a 0.03 per cent gain to $33.87. ANZ added 2.5 per cent to $29.89. Both consumer staples and consumer discretionary gained throughout the days trading. Retail shares were among the bright spots during Tuesday's trading. NewsWire / Max Mason-Hubers Credit: News Corp Australia Woolworths finished up 0.42 per cent to $31.24, while Coles ended the day in the green trading 0.19 per cent higher to $20.88. JB Hi Fi gained 0.21 per cent to $110.58 while Harvey Norman shares jumped 1.52 per cent to $5.35 and Breville climbed 1.97 to $30.07. Morningstar director of equity research Johannes Faul said a combination of wages growth and savings rates moving back to normal will all help lift the retail sector. 'Retail sales momentum is building thanks to rising incomes and abating headwinds. 'We believe households have mostly reset their behaviours and expect headwinds from a rising savings rate and a consumption shift to more services to be less pronounced.' 'Although the overall outlook is positive, we expect some categories to fare relatively better.' In company news Medibank Private soared 5 per cent to an intraday high of $5.31 during early trading after Morgan Stanley upgraded its rating on the business to 'overweight'. Shares closed up 2.38 per cent to $5.17. Shares in buy now pay later provider Zip also jumped 4.6 per cent $3.21, for a sixth day of gains as it eyes its year-to-date high of $3.32. HMC Capital plummeted 17.3 per cent to $4.22 after the fund manager gave an update about its energy transition portfolio and announced new leadership.
Herald Sun
8 hours ago
- Herald Sun
IoT tech company X2M takes 7pc stake in Dicode after major UAE contract win
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. X2M to take 7% stake in partner Dicode Smart Connect Electronics, reflecting confidence in its future Dicode wins contract with major UAE construction company to install 10,000 residential apartments Second 'Metering-as-a-Service' commercial contract for Dicode secured in the UAE in 2025 Special Report: X2M Connect will take a 7% stake in strategic partner Dicode Smart Connect Electronics, which has secured a contract with a major UAE-based construction company to install smart gas and utility meters across 10,000 residential apartments. Australian Internet of Things (IoT) technology company X2M Connect (ASX:X2M) said the deal marks the second major commercial contract win for Dicode in 2025, following its February announcement of a contract with Ocean Gas to digitise gas distribution networks. Dicode's core business is centred on rolling out 'Metering as a Service' in the Middle East, with the new project expanding its footprint in the Gulf Cooperation Council region's rapidly growing smart infrastructure sector. X2M said the latest contract would generate ~$400,000 of gross profit over the next 10 years. X2M investment in Dicode shows confidence As part of its long-term strategic alignment with Dicode, X2M will invest US$150,000 in the business for a 7% ownership share. The company said its investment reflects X2M's confidence in Dicode's growth potential and profitability as it scales its smart metering technology and services across the Middle East. Under the terms of the partnership, Dicode has committed to using X2M's proprietary technology Vision by X2M for a minimum of 10 years, positioning X2M as the foundational technology partner for Dicode's deployments. Importantly, X2M retains the flexibility to directly service other customers in the region. Watch : X2M flows new South Korean contracts 'Partnering with a well-connected regional operator' X2M CEO Mohan Jesudason said Dicode has swiftly demonstrated its ability to capture a previously untapped smart metering market, securing two major contracts since February. 'This contract validates our strategy to enter the Middle East via the UAE by partnering with a well-connected regional operator,' he said. 'Our equity stake reflects confidence in Dicode's long-term success and strengthens our position as their exclusive technology partner. 'As demand for smart metering accelerates and Dicode expands beyond the UAE, we're well placed to become the technology platform of choice across the broader region and to support the Middle East's digital infrastructure transformation.' Dicode Smart Connect Electronics CEO Satish Chandran said the contract win with a leading UAE construction group marked a major step in its mission to digitise energy infrastructure across the region. 'The rapid uptake of our smart metering technology underscores the scale of the opportunity in the Middle East,' Chandran said. 'Partnering with X2M gives us a world-class technology backbone that's critical to scaling efficiently and delivering at speed. 'With strong demand in neighbouring markets like Saudi Arabia, we're focused on expanding our footprint and cementing our position as the regional leader in smart utility solutions.' This article was developed in collaboration with X2M Connect, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as IoT tech company X2M takes 7pc stake in Dicode after major UAE contract win
News.com.au
8 hours ago
- News.com.au
Closing Bell: ASX ends flat as info tech rally falters
ASX slips back to even, losing just 1.2 points Info tech sector reverses course, retreating from 1.2pc gain to just 0.2pc Gold shines as USD falls; All Ord Gold index adds 1.09pc Gold shines, tech declines The info tech sector was providing the majority of the ASX's momentum this morning, up about 1.2%. As the day stretched long, the info tech gains evaporated, leaving the ASX 200 almost exactly where it started, down 1.2 points or 0.1%. Defensive stocks stood their ground; utilities added 0.91% and real estate 0.75%. Gold also made progress, gaining against a faltering greenback as the mounting clamour for interest rate cuts on Wall Street puts pressure on the US dollar. The ASX All Ord Gold industry added 1.09%, alongside a 0.42% uptick for the Small Ords. A lot of that movement was in penny stocks, but Emerald Resources (ASX:EMR) added 3.3%, Red Hill Minerals (ASX:RHI) 5%, Kingsgate Consolidated (ASX:KCN) 7% and Saturn Metals (ASX:STN) 12.5%. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Security Name Last % Change Volume Market Cap EWC Energy World Corpor. 0.048 129% 14856294 $64,657,346 AOA Ausmon Resorces 0.002 100% 1329400 $1,311,213 CT1 Constellation Tech 0.002 100% 3113189 $1,474,734 NXS Next Science Limited 0.11 64% 9215319 $19,574,736 ADDDB Adavale Resource Ltd 0.032 60% 213697 $2,287,279 HMD Heramed Limited 0.011 57% 8474550 $6,129,219 IS3 I Synergy Group Ltd 0.0015 50% 2180451 $1,502,190 TEG Triangle Energy Ltd 0.003 50% 1104532 $4,178,468 SRL Sunrise 1.175 46% 2178862 $92,758,060 EV1 Evolutionenergy 0.015 36% 399417 $3,989,155 CZN Corazon Ltd 0.002 33% 525391 $1,776,858 M2R Miramar 0.004 33% 2150000 $2,990,470 RNX Renegade Exploration 0.004 33% 2165000 $3,865,090 VFX Visionflex Group Ltd 0.002 33% 3500000 $5,051,791 WBE Whitebark Energy 0.004 33% 2960000 $2,062,001 ICG Inca Minerals Ltd 0.012 33% 5049324 $14,187,511 ENX Enegex Limited 0.017 31% 43999 $4,951,987 GLA Gladiator Resources 0.009 29% 426348 $5,308,078 OMX Orangeminerals 0.077 28% 1426132 $8,286,137 PUR Pursuit Minerals 0.057 27% 965382 $4,488,028 NSB Neuroscientific 0.11 26% 2451852 $28,934,086 EGG Enero Group Ltd 0.865 26% 503556 $62,153,558 PNN Power Minerals Ltd 0.069 25% 1401168 $7,004,950 RMI Resource Mining Corp 0.015 25% 2838012 $8,813,440 ADR Adherium Ltd 0.005 25% 607622 $3,593,916 Energy World (ASX:EWC) is preparing to restructure its capital and management under a proposal that would see US$440 million in debt transformed into shares. EWC is converting its debt with Slipform Engineering Group into shares at $0.88 each, valuing them at 44-times its current 30-day VWAP of $0.02. EWC managing director Brian Allen will also step down from the position after 24 years, with new interim chair Alan Jowell and CEO Edward McCartin taking up their roles effective today. The company has opted to engage in a share conversion with Slipform, owned by the Elliott family (founder and EWC CEO Stewart Elliott passed away last year), in order to repay the outstanding debt. Next Science (ASX:NXS) is looking to offload the vast majority of its assets and intellectual property in an asset purchase agreement with Demetra Holdings S.p.A for a total sale price of US$50 million. NXS will retain ownership of the durable medical equipment segment and intends to return the net proceeds of the sale to shareholders to the tune of US$30 million. Management has signalled it intends to vote in favour of the transaction at the next EGM. Sunrise Energy Metals (ASX:SRL) has wrapped up a heavily oversubscribed $1.5m share purchase plan. The company could only accept 37.5% of subscription offers, after shareholders asked for $4m. Renegade Exploration (ASX:RNX) has unearthed multiple silver rock chips grading above 1000 g/t at the Broken Hills project in Nevada, US. Five rock chips exceeded 1020 g/t silver with additional gold values up to 16.21 g/t gold, peaking at 2469 g/t silver. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Security Name Last % Change Volume Market Cap GMN Gold Mountain Ltd 0.001 -33% 235592 $8,429,639 VMLDB Vital Metals Limited 0.067 -33% 11648 $11,790,134 AN1 Anagenics Limited 0.004 -20% 30000 $2,481,602 KPO Kalina Power Limited 0.004 -20% 4906284 $14,664,978 ROG Red Sky Energy. 0.004 -20% 6944305 $27,111,136 SIS Simble Solutions 0.004 -20% 250000 $5,411,652 SRJ SRJ Technologies 0.004 -20% 3561707 $3,027,890 TMX Terrain Minerals 0.002 -20% 9000136 $6,329,536 GBZ GBM Rsources Ltd 0.014 -18% 14131740 $24,069,639 TMK TMK Energy Limited 0.0025 -17% 7819005 $30,667,149 AON Apollo Minerals Ltd 0.006 -14% 1362333 $6,499,198 LML Lincoln Minerals 0.006 -14% 2107369 $14,717,988 T88 Taitonresources 0.06 -14% 13100 $5,212,016 ADC Acdc Metals Ltd 0.04 -13% 285381 $3,439,656 IFG Infocusgroup Hldltd 0.014 -13% 2904816 $4,415,389 NAG Nagambie Resources 0.014 -13% 1891 $12,852,838 KAM K2 Asset Mgmt Hldgs 0.065 -12% 6250 $17,840,305 SPD Southernpalladium 0.59 -12% 19389 $71,656,500 PCK Painchek Ltd 0.04 -11% 103757 $82,892,520 AAJ Aruma Resources Ltd 0.008 -11% 30000 $2,951,465 ADG Adelong Gold Limited 0.004 -11% 6915887 $9,309,045 AM5 Antares Metals 0.008 -11% 1160500 $4,633,676 CLG Close Loop 0.032 -11% 4353864 $19,146,595 DRE Dreadnought Resources Ltd 0.008 -11% 3790981 $45,715,500 GSM Golden State Mining 0.008 -11% 47098 $2,514,336 IN CASE YOU MISSED IT Asian Battery Metals (ASX:AZ9) has demonstrated the strength of the Yambat mineralised system in Mongolia with more high-grade copper-nickel intersections. Many Peaks Minerals (ASX:MPK) has retained an exclusive option to acquire 100% of the Baga gold project in Côte d'Ivoire. StockTake: Uvre (ASX:UVA) to dot the i's and cross the t's on New Zealand gold pickup. IoT tech company X2M Connect (ASX:X2M) has taken a 7% stake in Dicode after a major UAE contract win. Codeifai (ASX:CDE) is set to acquire AI-backed, quantum-secure platform from Canada's Credissential Inc. Magmatic Resources (ASX:MAG) has completed the first stage of its purchase for the highly prospective Weebo gold project in WA's Goldfields. Future Battery Minerals (ASX:FBM) has uncovered six new gold anomalies at its Burbanks East tenements. LAST ORDERS New Age Exploration (ASX:NAE) has locked in a $1 per tonne royalty for the first 15 million tonnes of any mineral ore or concentrate extracted from the Lochinvar coal project in the UK, completing the sale of the asset. Management reckons the royalties could be worth up to $15 million, while the sale itself allows NAE to focus its resources on its gold and lithium projects closer to home. TRADING HALTS Alphinity Global Equity Fund (ASX:XALG) – technical issue Alphinity Global Sustainable Equity Fund (ASX:XASG) – technical issue Australian Oil Company (ASX:AOK) – settlement deed Butn Ltd (ASX:BTN) – debt refinancing Falcon Metals (ASX:FAL) – exploration results Finder Energy Holdings (ASX:FDR) – cap raise Resources & Energy Group (ASX:REZ) – cap raise Santa Fe Minerals (ASX:SFM) – cap raise Yojee Ltd (ASX:YOJ) – cap raise At Stockhead, we tell it like it is. While New Age Exploration is a Stockhead advertiser, it did not sponsor this article.
