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The Latest Breaking News from ASX

3 Undervalued Tech Stocks Trading Under $10

Concerns over aggressive interest rate hikes by the Federal Reserve to tame multi-decade high inflation have wreaked havoc on tech stocks. However, given the increasing dependence on tech solutions, the stocks of fundamentally sound technology companies should rebound soon. Therefore, we think it could be wise to bet on quality…

StockNews.com

Woolworths to buy MyDeal.com.au for $243m

Supermarket giant Woolworths is proposing to acquire MyDeal.com.au for $1.05 per share, a 63 per cent premium.

AAP

Woodside shareholders back BHP oil merger

Woodside shareholders have backed the company's merger with BHP's petroleum arm, creating a new global heavyweight.

AAP

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ASX joins crackdown on 'greenwashing'

The Australian Stock Exchange has warned companies against using the market disclosure system for misleading 'greenwashing' to inflate share prices.

AAP

Wet weather has been great for GrainCorp

ASX listed grain handler GrainCorp is handing shareholders a special dividend and launching an ag-tech venture capital fund after a record half-year profit.

AAP

The Star suspends VIP rebate program aimed at attracting high-spending gamblers

The Star Entertainment Group says it will suspend its VIP rebate programs while it deals with probity issues from a damning inquiry into the company's suitability to run its Sydney casino.

ABC News

AGL reveals demerger would cost $260m as Mike Cannon-Brookes tries to block plan

Atlassian cofounder says released details prove the split would be a ‘terrible outcome’ for energy giant’s shareholders

The Guardian - AU

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4 Undervalued Semiconductor Stocks to Add to Your Portfolio in May

While the global semiconductor shortage is not expected to ease anytime soon, robust demand and the government's robust initiatives to ramp up domestic chip production could aid the industry’s growth. So, we think quality semiconductor stocks ASE Technology Holding (ASX), Axcelis Technologies (ACLS), ROHM Co (ROHCY), and Advanced Energy Industries…

StockNews.com

Reborn Mitsubishi Colt Teased For 2023 Launch With Hybrid Power

The supermini will join the new ASX in the company's refreshed portfolio for Europe.

Motor1

Oil prices sink as Joe Biden announces largest-ever release of emergency US oil supplies, ASX edges lower

Australian shares close slightly lower, following a 6 per cent drop in oil prices as Joe Biden announces the US will release 180 million barrels of oil from its Strategic Petroleum Reserve over six months, and Wall Street posts its worst quarterly loss since COVID-19 first struck.

ABC News

DYLLF: Deep Yellow Limited and Vimy Resources Agree to Merge. Attributable Resources Expand to 389 Mlbs. Deep Yellow to have multi-jurisdictional flagship projects in Namibia and Australia.

By Steven Ralston, CFA OTCQX:DYLLF | ASX:DYL.AX

Benzinga

Russian share market reopens after month-long closure, ASX at two month high

The Russian stock market surges after being closed for a month, and the ASX climbs on higher iron ore prices and a rise on Wall Street.

ABC News

NBN upgrade to single business in Barnaby Joyce’s electorate to cost $630,000

Joyce wrote letter of support for ASX-listed Costa Group for fibre-to-the-premises conversion under Coalition grants program

The Guardian - AU

Incannex Healthcare To Acquire APIRx Pharmaceuticals For $93.3M

Incannex Healthcare Limited (NASDAQ: IXHL) (ASX: IHL) announced that it has executed a term sheet with binding commercial terms to wholly acquire APIRx Pharmaceutical USA, LLC, subject to shareholder approval under ASX listing Rule 7.1.

Benzinga

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ABC News

ASX rises as lithium miners boost the market; Probuild finds another buyer

Australian shares have started the week on a high, after losing ground for weeks on the ongoing war in Ukraine.

StockNews.com

3 Top Rated Semiconductor Stocks with Dividend Yields More Than 3%

Despite the burden of escalating global tensions on investor sentiment, the semiconductor sector continues to thrive because the demand for semiconductor chips in electric vehicles and other consumer electronics is robust. So, we think high-yielding semiconductor stocks Intel (INTC), ASE Technology (ASX), and ChipMOS (IMOS) could be great bets now…

ABC News

Oil surges, pushing up Santos, Paladin and Woodside as ASX falls sharply

The Australian share market fell sharply on Monday amid a surge in oil prices as the war in Ukraine continues to rock commodity and equity markets.

Benzinga

Psychedelics And Virtual Reality Treatment Developed By Monash University, Funded By Incannex

Incannex Healthcare Limited (NASDAQ:IXHL) (ASX:IHL) has implemented a license agreement with Monash University to develop a novel treatment that combines virtual reality and psychedelics. This marks the initiation of a second clinical psychedelic therapy program. "We're delighted to have commenced this exciting project and to have expanded our partnership with…

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ABC News

Global markets take a hit on Russian strikes, but ASX defies the trend to rise

The ASX closes up again as the Russian invasion of Ukraine continues to spook global markets. Meanwhile, an Australian miner is booming on a deal with Tesla.

Benzinga

Medicinal Cannabis And Psychedelics Company Incannex Lists American Depositary Shares On Nasdaq

Medicinal cannabis and psychedelics company Incannex Healthcare Limited (NASDAQ: IXHL) (ASX:IHL) commenced trading of its American Depositary Shares representing its ordinary shares on the Nasdaq Global Market under the ticker symbol 'IXHL'.

ABC News

ASX gains ground even as fresh sanctions on Russia temper investor optimism

Australian shares are moderately higher, as news over the weekend of tougher Western sanctions against Russia dampens the flow-through from a global market rally on Friday.

AAP

Distillery boss resigns after drug video

The boss of an ASX-listed distillery recorded using illicit drugs has resigned and claimed he was the victim of extortion.

ABC News

ASX closes higher as AMP reports loss, NAB margins down, AGL to close power stations early

Australian shares close higher as NAB, AGL and AMP report their earnings results. It follows a positive day on Wall Street where tech stocks dominated.

ABC News

Australia's biggest firms set to reveal the costs of COVID-19 as ASX reporting season picks up steam

Investors will be flooded with updates from the nation's largest companies in the next few weeks — about how much they're earning, along with the impact of staff shortages and higher inflation on their profit margins.

StockNews.com

4 Undervalued Chip Stocks to Grab in the Sell-Off

Stock futures have tumbled after a four-day equity market rally that followed the January sell-off. Nevertheless, the semiconductor industry has been propelled to new heights over the last year and is expected to continue growing, driven by strong demand. So, semiconductor chip stocks ASE Technology (ASX), Diodes (DIOD), Himax (HIMX),…

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