A UK research report has found a growing number of couples over 60 live in separate households, a trend particularly pronounced among those entering a new relationship at this stage of their lives. Improved mental health is a bonus.
Speakers of the calibre of David Knoff, the expedition leader stranded with his team in Antarctic during COVID, can regularly be heard at this global institution that places a premium on knowledge, not qualifications.
ASX drops 0.6% as COVID, EOFY lead bourse lower
Markets continue to fall, travel stocks hit as Sydney faces lockdown, Costa enters trading halt
The ASX 200 (ASX: XJO) finished 0.6% lower on Wednesday despite a strong overseas lead, with news of the extended Sydney travel restrictions impacting travel and consumer stocks.
Qantas Airways Limited (ASX: QAN) fell 0.3%, Flight Centre Travel Group Ltd (ASX: FLT) by 3.4%, and Corporate Travel Management Ltd (ASX: CTD) 1.7% as forced holiday cancellations hit the sector.
Sydney Airport Holdings Pty Ltd (ASX: SYD) was among the hardest hit, down 2.2% with management calling the announcement a ‘crushing blow’ and suggesting the tourism industry was in a ‘race for survival’.
Only materials and IT finished higher, 0.9% and 1.1% respectively as the lithium sector continued its strong recent run.
Costa Group Holdings Ltd (ASX: CGC) entered a trading halt as it announced the $200 million acquisition of 2PH Farms, a Queensland citrus grower.
The deal will be funded using debt and a $190 million entitlement offer, with the company familiar with the group having distributed their product for in excess of 10 years.
Costa confirmed first-half revenue guidance of $627 million and earnings of $124 million.
Meanwhile, the Commonwealth Bank of Australia (ASX: CBA) has joined the rate hike party, now expecting a November 2022 increase to 0.25%, despite the likelihood of borders opening early in the new year.
Woolworths doubles down on logistics, Dexus property valuations up, Catapult acquires
Woolworths Group Ltd (ASX: WOW) flagged a $50 million impairment charge on its CBD store network as city sales remain impacted by COVID-19 lockdowns.
On the positive side, it announced a further investment in its logistics network, and is set to build a 76,000 sqm facility in NSW to service over 280 stores replacing a fragmented system; shares fell 1.9%.
Property manager Dexus Property Group (ASX: DXS) announced that 117 of its 128 properties had been revalued, resulting in an increase of 2.3% or $362 million; a stunning result given the market conditions.
That said, the assets are predominantly high-quality offices (41), industrial properties (75), and healthcare (1) which have been barely impacted by lockdown measures.
Professional sports GPS tracking software Catapult Group International Ltd (ASX: CAT) announced the acquisition of SBG Sports Software, which began as a joint venture with Mercedes F1.
The group specialises in developing technology to capture and analyse large quantities of data and video.
The deal will be funded by a US$35 million placement and US$5 million SPP, priced at a 13% discount to Catapult’s last closing price.
Nasdaq gains for third straight day, Tesla jumps, economic data at records
The Nasdaq delivered a third straight day of record gains, finishing 0.1% higher on the back of a 5.3% rally in Telsa Inc (NASDAQ: TSLA) which is embarking on an ambitious rooftop solar program.
The S&P 500 and Dow Jones were both weaker, down 0.1% and 0.2% with financials and retailers once again outperforming on signs of continued strength in the economy.
The PMI readings, which are leading indicators for the economy, remain at strongly elevated levels with the manufacturing survey hitting 62.6 despite supply delays and the services PMI falling to 64.8.
A PMI above 50 is seen as a strong expansion. European activity reached the fastest level since 2006, hitting 59.2.
The company that produces these readings IHS Markit Ltd (NYSE: INFO) topped earnings estimates, reporting US$1.2 billion in revenue and US$372 million in cash flow; shares fell over 1%.
The biggest news of the day was the collapse in the price of mortgage giants Fannie Mae (NYSE: FNMA) and Freddie Mac (NYSE: FMCC) which fell 32% and 35% respectively after the Supreme Court ruled dividends paid to the US Government following their bailout of the entities could not be recovered by investors.
