Put your hand up if you had a good weekend?
Another public holiday tomorrow for us Melbournians with the Melbourne Cup, RBA meeting and US election keeping us busy!
Who will win?
Although the RBA doesn’t have much “room to move” by cutting rates, speculation is mounting that like our US friends, they will unleash QE, or bond purchases, on Tuesday.
Expect the AUD to fall and asset prices to rally sharply if that’s the case…
Good news!
Across markets…
Australian shares are poised to open higher, looking through the tech crash on Wall Street over the weekend, though perhaps wary ahead of Tuesday's Reserve Bank policy meeting and the US presidential election.
ASX futures were up 52 points or 0.9 per cent to 5942. The currency was little changed.
It was a rush to the exits in New York for at least some investors in the US mega techs, after they mostly exceeded profit and sales expectations and also tipped future challenges:
Facebook shed 6.3 per cent, Netflix lost 5.7 per cent, Apple dropped 5.6 per cent and Amazon took a 5.5 per cent hit. Microsoft closed a relatively modest 1.1 per cent lower. Twitter plunged 21 per cent.
The US-listed shares of Atlassian were hit hard too, tumbling 9.1 per cent.
The Wall Street losses were concentrated on the tech-heavy Nasdaq, which fell 2.5 per cent. The Dow slid 0.6 per cent and the S&P 500 ended down 1.2 per cent.
Local investors will already be looking to Tuesday and the RBA.
The SPI is up 52 points this morning.
Source: Bloomberg
Neurotech International (ASX:NTI) has a new chairman and a new focus – cannabis treatments for cognitive disorders, rather than medical devices to treat them.
The new chairman of Neurotech International (ASX:NTI) says he’s inviting investors to go on a journey with the company as it pivots into a new space.
Brian Leedman, the founder and executive director of ResApp Health and former WA chairman of Ausbiotech, joined Neurotech on October 19 as its non-executive chairman.
The company is has been commercialising its flagship Mente Autism product, a brainwave-measuring headband that aimed to “relax” autistic children’s minds.
“Despite having been on the market for a few years, it has not been commercially successful to date,” Leedman says.
Now the company will be using the Mente device to monitor patients in clinical studies involving “very unique” cannabis strains that Neurotech licensed from an Australian hemp grower in July as a treatment for neurological conditions such as autism and ADHD.
Sector: Consumer Discretionary
Year: 2019
Deal Type: Placement
Raise Amount: $2.2m
Price Change: $0.044 -6.38%
Sector: Consumer Discretionary
Year: 2018, 2019
Deal Type: Seed, Bridging and IPO
Raise Amount: $10m
Price Change: $0.16 +10.00%
Sector: Technology
Year: 2018
Deal Type: Seed and IPO
Raise Amount: $10m
Price Change: $0.094 +2.17%
Sector: Mining
Year: 2017
Deal Type: Seed & IPO
Raise Amount: $5m
Price Change: $0.18 -2.63%
Sector: Mining
Year: 2017
Deal Type: IPO & Placement
Raise Amount: $6m
Price Change: $0.062 +1.64%
Sector: Healthcare Equipment and Services
Year: 2016
Deal Type: IPO
Raise Amount: $8m
Price Change: $0.060 Unchanged
Sector: Materials
Year: 2016
Deal Type: IPO
Raise Amount: $9m
Price Change: $0.020 Unchanged
Sector: Biotechnology
Year: 2015, 2017, 2018
Deal Type: Placements & IPO
Raise Amount: $5m
Price Change: $2.70 -0.37%
Sector: Media an Entertainment
Year: 2016
Deal Type: Reverse Takeover
Raise Amount: $4m
Price Change: $0.039 +2.50%
Sector: Mining
Year: 2018, 2019, 2020
Deal Type: Placements & Rights Offer
Raise Amount: $1.5m
Price Change: $0.0080 +14.29%
Sector: Discretionary
Year: 2020
Deal Type: Placement
Raise Amount: $1.3m
Price Change: $0.0060 Unchanged
Sector: Gaming
Year: 2020
Deal Type: Placement
Raise Amount: $1.25m
Price Change: $0.14 -14.71%
Sector: Mining (Gold)
Year: 2020
Deal Type: Placement
Raise Amount: $982k
Sector: Mining (Gold/Silver)
Year: 2020
Deal Type: Placement
Raise Amount: $2.3m
Price Change: $0.015 Unchanged
Sector: Hemp & CBD
Year: 2020
Deal Type: Pre IPO
Raise Amount: $2.5m
Sector: Psychedelic assisted therapy
Year: 2020
Deal Type: Placement
Raise Amount: $2.5m
Price Change: CAD $0.045 -10.00%
Sector: Mining
Year: 2020
Deal Type: Placement
Raise Amount: $330k
Price Change: 0.045 +2.27%
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
