. . World news – ASX trade freeze in new technical glitch; Index 1. 3% upon opening


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The local market hasn’t traded since we last gave you an update on the biggest drivers in the morning. The index was last 1. 2 percent at 6,484. 3 It touched a nine-month high near 6,487. 3, before trading was frozen due to « data problems » in the ASX.

The marketplace operator said around midday EST that it had identified the issue on its platform and was scheduled to provide an update by 12 o’clock. 30 pm EST.

Brokers and fund managers say they use ASX-outage to read analyst research reports more carefully than usual, and to do some in-depth research into the company’s reports..

â ?? It’s not a great situation for ASX, ???? Sean Squera, chief investment officer of Australian Eagle Asset Management, told Markets Live.

â ?? They have had some hiccups in the last few period with their systems. Everyone in the market wants to ensure that they have a reliable exchange. â €

There has also been strong interest in UBS’s Australasia Virtual Conference 2020, which is taking place this morning.

This week, Alex Druce joins IG Markets analyst Kyle Roda to discuss eight-month highs in the ASX 200, stocks likely to benefit from positive vaccine news, the picture painted by employment data for October, and whether it looms on the horizon. The OPEC meeting may extend production cuts.

Here you can find previous episodes of the Weekly Podcast, produced in partnership with IG. Each episode lasts about 10 minutes and is also available through Spotify and Google Podcasts.

State borders will be back again after the COVID-19 outbreak in Adelaide with 17 confirmed infections.

Residents of South Australia who recently arrived in Tasmania must now self-isolate, and this morning the President of Tasmania has asked anyone planning to visit Tasmania to reconsider their travel.

On Sunday afternoon, passengers who landed in Perth from Adelaide were forced into quarantine after Western Australian Prime Minister Mark McGowan reinstated restrictions on South Australia.

Northern Territory Prime Minister Michael Gunner declared South Australia a hotspot, effective immediately, forcing arrivals from the state into mandatory quarantine.

Mr. Gunner also nominated November 30 as the date by which he could enter Melbourne into the Northern Territory without mandatory quarantine..

Victoria will join the other states in declaring South Australia a hotspot but will not move to close borders, Prime Minister Daniel Andrews said..

Victoria continued to operate, with no new cases or deaths reported, recording double zeros for the seventeenth day in a row.

Technical issues on Monday (which have now been identified) have frozen trade in the market at around 10 o’clock. 20 a.m. EST.

at 11. 50 AM EST update, ASX said it has uncovered the cause of the problem and will provide an update within 30 minutes.

It is the latest technical obstacle for the market operator, as its new website has been suffering from a number of interruptions and difficulties since its launch on 12 October..

Several investors expressed dissatisfaction with the new site in the weeks that followed, and some called for the restoration of old features..

“Remember the old days when new systems were thoroughly tested before they were released to the public. Nowadays, users are used as free bug finders.

“I like irony. . . ASX: The Heart of Australian Financial Markets. The heart seems to have stopped. Someone calls 000.

Trading at the ASX is currently paused as a market operator is investigating ‘ongoing market issues’.

The operator said: ‘The ASX stock market is currently paused and there is no trading while investigating market data issues.’.

« ASX apologizes for the outage and is working to correct the problem as soon as possible. ».

The company regulator did not recommend any new regulation for the Buy Now and Pay Later sector in a report unveiled on Monday, despite his research showing that one in five users misses payments and that some suffer harm.

Biggest domestic BNPL stocks tumbled at the open, with Afterpay, Zip Co, Splitit and Tyro lower. Pushpay was narrowly ahead, and Sezzle dropped. The owner of Humm Flexigroup was fixed.

Afterpay shares had a strong week after it revealed its partnership with Westpac. Credit: Joe Armau.

The Australian Securities and Investments Commission (ASIC) said the amount of credit granted to buy now to be paid later to users has nearly doubled in 12 months and the total number of transactions increased by 90 percent to 32 million for the year 1919-2018.

“Buy now and pay later arrangements are clearly common as a payment method. While working for the majority of users, some consumers suffer harm..

I noticed that one in five consumers lost their payments, but the missed payment revenue for all purchases, now paying the subsequent sellers included in the report decreased as a percentage of the revenue.

ASIC said regulatory changes being introduced – which include design and distribution commitments – along with a code of conduct that the industry is developing “provide an opportunity for the industry to address the harm to consumers..

Postpayment dumping 0. 4 percent to $ 101. 40, and another Zip was down 0. 8 percent to $ 6.

The accelerated recovery of Australian agriculture from a devastating drought, record livestock prices and a major takeover helped push agri-business giant Elders into a net profit of $ 123 million, up 80 percent from last year..

The company will reward shareholders with a larger, fully certified final dividend as a result, up 44 percent to 13 cents per share..

Shares in the company started lower on Monday but rose by 0. 1 percent to $ 11. 88 after half an hour of trade.

Elders base profit of $ 109 million exceeded market expectations, as Bloomberg Consensus predicted $ 101 base profit. 3 million.

The Historical Agricultural Company sells all types of agricultural goods such as fencing equipment, fertilizers and chemicals, operates a real estate division, provides sales and marketing services for wool, livestock and other agricultural products.

The financial results for seniors stand in stark contrast to the performance of many other ASX-listed companies throughout 2020, as many companies were forced to withdraw dividend directives, temporarily halt dividends and raise capital as demand for their products declined due to COVID-19..

But agriculture was a sector that performed better than others during COVID-19, due to the fact that people need to keep eating during the recession, and the fact that the industry was considered essential and could continue to operate even as the pandemic worsens.

Mark Allison, Head of the Elders, said the company’s performance was an example of businesses making « great returns in good years. ».

He also said that it reflects the company’s smart response to challenges that arose during the year, implementation of a sound business strategy, solid business fundamentals, and a rigorous financial system..

“The fiscal year 2020 results highlight the resilience of our business, the benefits of our diversification across both geographies and products, and our acquisition strategy.”.

During the year, the Elders completed the purchase of another agricultural supply company known as AIRR. The purchase added $ 44 million in gross gross margin to the company’s results.

Older earnings rose 29 percent to $ 2. 09 billion, which was before the Bloomberg consensus at $ 2. 06 billion.

The share price of the elderly rose in 2020. It closed at $ 6. 47 on the last day of 2019, after closing at $ 11. 87 on Friday its shares rose 83. 5 percent over the same period.

Seniors’ fiscal year ends on September 30th. The company has a market cap of $ 1. 85 billion.

The ASX 200 rose by 1. 3 percent at the open, to 6,487. 3 – Its highest intraday level since March 3rd.

The Australian shares market stormed its doors this morning, pushing to their highest levels in nearly nine months as a group of blue-chip holders flex their muscles.

The ASX 200 rose by 1. 3 percent to 6,487. 3 – The highest mark of the day since early March – with only the domestic tech sector in the red.

Wall Street leadership was strong after US markets closed higher on Friday despite concern about the spread of COVID-19 across the country..

In domestic trade, the CSL value for biotech was 1. 8 percent at a more than six-month high of $ 315. 01 After the news, $ 800 million will be invested in a new vaccine production plant in Melbourne.

The Commonwealth Bank rose by 1. 9 percent to $ 74. 53, was ANZ 2. 7 percent and $ 21 ahead. 14, Westpac rose 1. 4 percent to $ 18. 59, and NAB jumped 2 percent to $ 21. 62.

For the miners, BHP added 2 percent to $ 36. 48, Rio Tinto rose 1. 7 percent to $ 97. 70, and Fortescue Metals 1 climbed. 1 percent to $ 16. 77.

It would be very easy to describe the departure of Nine Entertainment Chairman Hugh Marks in the wake of an affair scandal as evidence that the Australia corporation has grown a conscience or a moral pillar.

It is true that Marx has joined a small but growing club of chief executives who are being pushed with their swords to break cultural norms regarding behavior with subordinates.

But in the corporate world, it is not so much about ethics as it is about risk. Risk to the company’s reputation, the performance and focus of the senior leadership team, and in the event of forming a pear relationship, the company itself could be caught in the wreckage.

Investor tolerance for this type of risk has become incredibly low in 2020, and some very high profile cases have shown, including AMP and QBE,.

Every serious listed company now has a Board Risk Committee that deals with all major financial and non-financial risks, from management and employee behavior to related party transactions and climate..

ASX, Stock market, S&P / ASX 200, Stock, Stock

World News – AU – ASX trading is frozen in new technical glitch; Index 1. 3% upon opening
. . Related Headline :
ASX gains after closing a record high on Wall Street, nine stocks fall after CEO resignation
ASX down: Australian stock market closing due to & # 39; data& # 39; Error
ASX trade frozen due to new technical glitch; index up 1. 3% upon opening
ASX & # 39; & STOP # 39; Given & # 39 market data; & Issues # 39;
ASX rises to an 8-month high: Trading is paused
Australian exchange halts trading on & # 39; & Market Data Issues # 39;
& # 39; WTF& # 39;: Entire ASX pauses in rare ad
Australian stock market trading has been paused due to the release of market data
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Ref: https://www.smh.com.au

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