Crypto exchange operator Coinbase has reached an agreement with Cboe’s (Chicago Board Options Exchange) BZX Exchange to maintain a surveillance-sharing agreement for five of its spot bitcoin exchange-traded fund (ETF) applications.
The company’s shares were 8.7 higher at the time of writing.
Rest of the World
Europe’s largest semiconductor-equipment maker, ASML, plans to slow hiring this year.
The company’s sales are expected to grow more than 25 per cent this year on the back of a €38.9 billion backlog, but its first-quarter bookings dropped 46 per cent to €3.75 billion from a year earlier.
ASML announced it had sufficient headcount to support their growth scenarios. The company was down 1.6 per cent to €635.10 per share.
Australia
The ASX 200 broke its four-day decline yesterday, rising 1.5 per cent.
Elastic interconnection service provider Megaport was the top mover within the ASX 200, increasing 33.8 per cent after upgrading ebitda Guidance.
The company increased normalised ebitda to be in the range of A$19 – $21 million (compared to previous guidance of A$16 – $18 million) for Financial Year 2023.
The company also announced Financial Year 2024 ebitda is expected to be higher than prior guidance of A$41 – $46 million.
Capricorn Metals, an Australian gold exploration company, rose 8.1 per cent to A$4.39 per share.
The company achieved record annual gold production of 120,014 ounces for Financial Year 2023, which was the mid-point of prior production guidance range of 115,000 – 125,000 ounces.
Global packaging company Amcor was among the bottom movers on the day (-1.1 per cent) after Bank of America downgraded a number of paper and packaging companies on weak growth catalysts. Year-to-date Amcor has declined 17.3 per cent.
New Zealand
The NZX 50 closed flat yesterday at 11,909.81.
Summerset finished 1.7 per cent higher after reporting 273 sales for the quarter ending 30 June 2023, comprising 126 new sales and 147 resales – the highest number of resale settlements in a quarter the company has ever seen.
Summerset has construction in progress at 17 sites around New Zealand and continues to be on track to deliver approximately 625-675 homes in Financial Year 2023.
Chorus finished 0.9 per cent lower after a fourth quarter Financial Year 2023 update.
The company announced that flood and cyclone-related impacts will detract an estimated $7 million off their Financial Year 2023 ebitda.
The figure excludes future capital requirements for network replacement.
Other updates included; Total fibre connections increased by 19,000 to 1,031,000,
Total broadband connections remained steady at 1,188,000, and average monthly data usage increased to 542GB in June (March: 502GB).
Today at 2pm the Reserve Bank of New Zealand will publish a Monetary Policy Review and announce the official cash rate (OCR). Currently the OCR is at 5.5 per cent.
Coming up today
US: CPI, Fed Beige Book
NZ: RBNZ OCR, Net Migration, Fonterra Special Meeting - Capital Return.
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