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Let’s have a cracking week.
UBS Group has agreed to buy Credit Suisse Group in a historic, government-brokered deal aimed at containing a crisis of confidence that threatened to spread across global financial markets.
The Swiss bank is paying more than $US2 billion for its rival, according to people with knowledge of the matter. It will be an all share deal and priced at a fraction of Credit Suisse’s close on Friday, when the bank was valued at about 7.4 billion francs ($US8 billion.)
The people asked not to be identified because the deal was not public yet.
Across markets…
Australian shares are set to drop at the open, following losses overseas over the weekend, amid continuing banking sector stress and as investors await further regulatory moves to bolster confidence.
ASX futures were down 98 points or 1.4 per cent to 6921 overnight.
The local currency was 0.6 per cent higher, briefly topping US67¢; the Bloomberg dollar spot index slid 0.3 per cent.
On bitstamp.net, bitcoin was up 3.30 per cent to $US28,173.
The yield on the US 10-year note plunged 15 basis points to 3.43 per cent at 4.59pm on Friday (Saturday AEDT) in New York. The two-year was at 3.84 per cent.
On Wall Street, the VIX rose more than 10 per cent; though after flirting with 30 mid-week it finished at 25.41. Financials paced all 11 S&P 500 industry groups lower.
In his week ahead note, Goldman Sachs equity strategist David Kostin said despite the tumult in financials, particularly regional US banks, the “performance of non-banks cyclical equities signals only a modest reduction in growth expectations”.
Kostin also struck a positive note on energy stocks, which have lagged other cyclicals alongside plunging oil prices. “We believe the sector has upside potential if economic growth remains healthy.”
Source: AFR
Decarbonisation has made hydrogen the element of the moment, yet actual deployment is lagging.
While scaling up is important to meet net-zero targets, it is also equally important for lowering supply costs and facilitating international trade.
The hydrogen market is still in its infancy, but experts believe the world’s transition to a greener economy is ushering in huge demand for low carbon energy sources to replace high-carbon ones, particularly in hard to abate sectors.
Hydrogen has a variety of different end uses including as a liquid fuel for transportation, an energy carrier to store and transport power, as a source of industrial heat, a feedstock for making other chemicals, and as a reducing agent for stripping oxygen from ore.
Lion Energy (ASX:LIO) has signed an agreement with Fueltech Hydrogen for the supply of a refuelling package and tube trailers for the new Port of Brisbane green hydrogen hub last week.
The package, which is scheduled for delivery in September 2023, is a key part of the hub that is geared towards heavy mobility fleets, with an initial focus on back to base public bus fleets.
LIO managing director Tom Soulsby says Lion Energy has been working with the bus industry on their specific requirements around refuelling reliability and speed, as part of its broader green hydrogen to industry strategy.
Source: Stockhead
Company: Terra Uranium (ASX:T92)
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.25 Unchanged
Company: Unith Ltd. (ASX:UNT)
Sector: AI/ChatGPT
Deal Type: Placement
Raise Amount: $4.5M
Latest Entry Price: $0.033 with a 1:1 UNTO
Today’s Price Change: $0.029 -3.33%
Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
Deal Type: Placement
Raise Amount: $5.75M
Latest Entry Price: $0.011
Today’s Price Change: $0.011 Unchanged
Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.03 with a 1:3 CDTOA
Today’s Price Change: $0.019 -13.64%
Company: Avenira Ltd. (ASX:AEV)
Sector: Phosphate
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.01 with a 1:2 Listed Option
Today’s Price Change: $0.013 Unchanged
Company: Latrobe Magnesium Ltd. (ASX:LMG)
Sector: Magnesium
Deal Type: Placement
Raise Amount: $3M & $11.5M
Latest Entry Price: $0.10 with a 1:4 LMGO
Today’s Price Change: $0.065 +1.56%
Company: Askari Metals Ltd (ASX:AS2)
Sector: Mining
Deal Type: IPO
Raise Amount: $5.7M
Latest Entry Price: $0.35 with a 1:3 AS2O
Today’s Price Change: $0.50 Unchanged
Company: Tymlez Ltd (ASX:TYM)
Sector: Blockchain
Deal Type: IPO/On-market purchase
Raise Amount: $13.3M
Latest Entry Price: $0.01
Today’s Price Change: $0.012 -7.69%
Company: iCandy (ASX:ICI)
Sector: Gaming & Digital Advertising
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.02 with a 1:1 ICIOB
Today’s Price Change: $0.047 Unchanged
Company: Fatfish Group (ASX:FFG)
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.014 -6.67%
Company: Lobe Sciences (CSE:LOBE)
Sector: Medtech
Deal Type: Pre-IPO
Raise Amount: $1.5M
Latest Entry Price: $0.05 with a 1:1 Warrants
Today’s Price Change: $0.035 +16.67%
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $1.345 +0.75%
Company: ReNu Energy Limited (ASX:RNE)
Sector: Energy
Deal Type: Placement
Raise Amount: $1.46M
Latest Entry Price: $0.06 with a 1:1 RNEO
Today’s Price Change: $0.048 +4.35%
Company: Cipherpoint Limited (ASX:CPT)
Sector: Cybersecurity
Deal Type: Placement
Raise Amount: $2.9M
Latest Entry Price: $0.005 with a 1:1 Listed Option
Today’s Price Change: $0.006 Unchanged
Company: Metals Australia Limited (ASX:MLS)
Sector: Lithium/Graphite
Deal Type: Placement
Raise Amount: $7.8M
Latest Entry Price: $0.078 with 1:1 MLSOD
Today’s Price Change: $0.039 Unchanged
Company: BBX Minerals Ltd (ASX:BBX)
Sector: Mining
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.082 with a 1:1 BBXOA
Today’s Price Change: $0.125 +4.17%
Company: Avecho Biotechnology (ASX:AVE)
Sector: CBD
Deal Type: Placement
Raise Amount: $5M
Latest Entry Price: $0.022 with a 1:2 AVEO
Today’s Price Change: $0.009 Unchanged
Company: ECS Botanics Holdings Ltd (ASX:ECS)
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.02 Unchanged
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
Peak on 1300 304 460
