Monthly Archives: February 2021

Lynas (ASX:LYC) NPAT up over 900%: Aus market down 1.8% over week

26 Feb 2021 - Aussie shares dropped in early trade and tracked sideways for most of the afternoon to end 2.4 per cent lower. The Information Technology sector led the losses today, with none of the sectors managing to advance. Shares in Lynas Rare Earths (ASX:LYC) jumped almost 6 per cent today after the company released its financial results for the half year. Net profit was up more than 9 fold compared to the prior corresponding period and rose [...]

Tech sector down over 6% on rate fears: Aus shares 2.2% lower at noon

26 Feb 2021 - The Australian share market opened lower following negative leads from Wall Street. It fell in early trade and is tracking 2.2 per cent lower at noon. All of the sectors have fallen this morning, with tech stocks haemorrhaging over 6 per cent. This comes on the back of another surge in the 10-year US Treasury bond yield overnight. Higher rates tend to hit the tech sector especially hard as the group relies heavily on low [...]

US flash spike in treasury bonds drags equities down: Aus shares set to open lower

26 Feb 2021 - Aussie shares are poised to drop at the open following a retreat in US markets. Rising US bond yields seem to have spooked investors. The 10-year Treasury yield experienced a flash spike overnight, rising 0.2 per cent. Facebook has reversed its Australian news ban after the government compromised on its proposed media code which is currently making its way through the Senate. Victoria is expected to announce an easing of Covid-19 restrictions this morning as [...]

ZipCo’s (ASX:Z1P) revenue rose 130% for H1 FY21: ASX closes 0.8% higher

25 Feb 2021 - It has been a positive day of trade, with the ASX hitting its highest point for the week. Nine out of the 11 sectors were higher with Materials rising 1.7%. Sandfire Resources (ASX:SFR) rose 11.1% after reporting a 78% increase in their half year net profit results while Service Stream (ASX:SSM) was the worst performing stock on the back of their half year revenue numbers released yesterday.