Good Afternoon Dan
And just like that, its Friday again.
For those of us in ASX:MRQ and ASX:ICI it has been a positive week!
From the team at Peak, have a great weekend and see you Monday!
Across Markets…
This Afternoon, the Australian sharemarket enjoyed its best week in six as a powerful rally in bank stocks on Friday steered the benchmark to a 1.7 per cent gain for the week.
The S&P/ASX200 Index added 88.9 points, or 1.5 per cent, to 5964,9 points on Friday.
Shares of the big four banks surged on Friday on the back of reforms to the credit act to strip the corporate regulator of policing responsible lending.
Banks welcomed the changes, saying they would reduce the burden of regulation, cut red tape for consumers and allow them to approve loan more quickly. They will also help small businesses access credit, supporting employment as the economy recovers from the crisis.
Westpac was biggest winner with a 7.4 per cent rally just a day after it copped a record-breaking $1.3 billion fine from AUSTRAC for breaches of anti-money laundering laws.
NAB rallied 6.9 per cent, ANZ gained 6.3 per cent and Commonwealth added 3 per cent. NAB was the best of the big four banks over the week with a 6.3 per cent gain.
Source: AFR
Having been subject to a harsh reality check over the last year or so, the ASX-listed cannabis sector is applauding the local medicine regulator’s endorsement of the weed as an effective therapy that should be more freely available to the ailing masses.
But the path to the pharmacy is likely to be harder than they think, with an emerging supply glut pushing prices to record lows.
In an interim ruling this month, the Therapeutic Goods Administration (TGA) said it intended to downgrade low-dose cannabidiol (CBD) formulations from a schedule four poison to schedule three.
Effective from next July, this reform will allow CBD formulations to become an over-the-counter (OTC) pharmacy medication. The patient does not require a prescription, but the chemist acts as a gatekeeper to determine whether a particular product is suitable for the condition.
In case you’re wondering, the formulas need to contain no more than 2% of tetrahydrocannabinol (THC), the psychoactive component of cannabis. Advertising the drugs is also banned and the medicine has to be in tablet form, not vaped or topically applied.
AusCann (ASX: AC8) chief executive officer Nick Woolf dubs the pending ‘down scheduling’ as a “major change for Australia and Australian patients”, offering “better access to quality controlled, scale and efficacious pharmaceuticals”.
Source: Small Caps
Across Asia, China’s major indexes flitted in choppy trade on Friday, but are on track for their worst weekly decline since mid-July as the resurgence in COVID-19 cases globally raised concerns about the pace of the global economic recovery.
The CSI300 index edged up 0.1% to 4,565.50 points at the end of the morning session, while the Shanghai Composite Index lost 0.2% to 3,215.42 points.
The tech-heavy start-up board ChiNext added 0.2% by midday, while the STAR50 index lost 1.7%.
For the week, CSI300 dropped 3.6%, while SSEC slid 3.7%, both set for the steepest weekly decline since the week ended July 17.
The recent slump in overseas equities on virus worries pressured the A-share market, while investors tend to tread cautiously ahead of the week-long National Day Holiday, said Zhang Chengyu, vice general manager of Beijing-based Shiji Hongfan Asset Management Co.
Source: Reuters
Sector: Consumer Discretionary
Year: 2019
Deal Type: Placement
Raise Amount: $2.2m
Price Change: $0.057 +5.56%
Sector: Consumer Discretionary
Year: 2018, 2019
Deal Type: Seed, Bridging and IPO
Raise Amount: $10m
Price Change: $0.14 Unchanged
Sector: Technology
Year: 2018
Deal Type: Seed and IPO
Raise Amount: $10m
Price Change: $0.11 +4.76%
Sector: Mining
Year: 2017
Deal Type: Seed & IPO
Raise Amount: $5m
Price Change: $0.20 Unchanged
Sector: Mining
Year: 2017
Deal Type: IPO & Placement
Raise Amount: $6m
Price Change: $0.067 Unchanged
Sector: Healthcare Equipment and Services
Year: 2016
Deal Type: IPO
Raise Amount: $8m
Price Change: $0.049 +11.36%
Sector: Materials
Year: 2016
Deal Type: IPO
Raise Amount: $9m
Price Change: $0.025 Unchanged
Sector: Biotechnology
Year: 2015, 2017, 2018
Deal Type: Placements & IPO
Raise Amount: $5m
Price Change: $2.30 -0.43%
Sector: Media an Entertainment
Year: 2016
Deal Type: Reverse Takeover
Raise Amount: $4m
Price Change: $0.031 -3.13%
Sector: mining
Year: 2018, 2019, 2020
Deal Type: Placements & Rights Offer
Raise Amount: $1.5m
Price Change: $0.0090 -10.00%
Sector: Discretionary
Year: 2020
Deal Type: Placement
Raise Amount: $1.3M
Price Change: $0.0060 Unchanged
Sector: Hemp & CBD
Year: 2020
Deal Type: Pre IPO
Raise Amount: $2.5m
Sector: Psychedelic assisted Therapy
Year: 2020
Deal Type: Pre IPO
Raise Amount: $1.5m
Price Change: CAD $0.065 +30.00%
Sector: Mining
Year: 2020
Deal Type: Placement
Raise Amount: $333k
Sector: Gaming & Digital Advertising
Year: 2020
Deal Type: Placement
Raise Amount: $1.25m
Sector: Mining (Gold)
Year: 2020
Deal Type: Placement
Raise Amount: $982k
Price Change: $0.011 -8.33%
Sector: Mining (Gold/Silver)
Year: 2020
Deal Type: Placement
Raise Amount: $2.3m
Price Change: $0.015 -7.14%
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