- The Australian stock market is off to a positive start despite a mixed lead from the US markets on Tuesday.
- Today’s Announcements: APM Human Services International (APM) Makes Four Acquisitions – Enters Swedish Market | Select Harvest (SHV) Announces Fire-Related Event | Whisper (WSP) wins contract with Singtel |
Australian stocks open higher.
- The Australian equity market is up about 0.7 percent in early trading. On Tuesday, the Dow Jones index rose 96 points, or 0.3 percent. The S&P 500 Index fell 0.1 percent from record highs, and the Nasdaq Index fell 89.5 points, or 0.6 percent.
- In commodity markets, the Brent Crude Price gained 34 cents or 0.4 percent at $ 78.94 a barrel and the US Nymex Crude Price it added 41 cents or 0.5 percent to $ 75.98 a barrel. Oil prices were supported by expectations that US crude stocks will decline last week. And while concerns about Omicron’s spread persisted, production cuts in Ecuador, Nigeria and Libya also kept prices afloat. Energy companies listed in Australia as Woodside Petroleum (WPL) Y Saints (WTO) therefore, it can trade higher today.
- The ingot continued its rally, with the gold futures price adding US $ 2.10 or 0.1 percent to US $ 1,810.90 an ounce. Spot gold was trading around $ 1,805 an ounce at the close in the United States. The increase in the price of gold could support the actions of Australian gold miners such as Evolution Mining (EVN) Y Newcrest Mining (NCM).
- UK financial markets were closed on Monday and Tuesday.
APM Human Services International (APM) makes four acquisitions and enters the Swedish market.
- APM Human Services International (APM), is an Australia-based service provider that focuses on supporting people through psychological interventions, medical rehabilitations and job assistance. APM has announced the acquisition of Early Start Australia, MyIntegra and Mobility, and has entered the Swedish market through the acquisition of Clustera AB. The Early Start, MyIntegra and Mobility acquisitions were outlined in the company’s Initial Public Offering (IPO) prospectus and increase APM’s exposure to the National Disability Insurance Scheme (NDIS), the home care financing sectors and home care. The acquisition of Clustera AB, Sweden’s leading provider of employment services, will facilitate APM’s entry into Sweden and increase APM’s revenue by A $ 2 million.
- Select Harvest (SHV), Australia’s largest almond producer has reported that its Carina West site has experienced a fire in the waste management area. The prima facie Assessment indicates smoke and water damage to site buildings, equipment materials, and inventory; however, SHV’s primary production and value-added processing areas have not been directly affected. SHV intends to file a claim under the Industrial Special Hazards Insurance Policy, which covers your physical assets against a fire event and other business interruption losses.
- Whisper (WSP), a software company focused on providing a communications workflow platform that automates interactions, has been awarded a 3-year contract with Singtel, Singapore’s leading global communications technology company. The contract has a minimum value of SGD $ 1.3 million and will involve WSP replacing the core systems previously used by Singtel.
Originally Posted by Divik Nigam, Associate Stock Market Analyst and Craig James, Chief Economist, CommSec