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 sets new record high, backs off
ASX down on energy, PEXA set to IPO, Nuix downgrades again
The ASX200 (ASX: XJO) started the day strongly, hitting a new record before ultimately closing 0.3% lower as energy, down 1.6%, and the IT sector, -0.9% continued to drag.
The weakness comes ahead of a huge week for the Australian economy, with the Reserve Bank of Australia meeting tomorrow and quarterly GDP figures due on Wednesday.
This all comes with the backdrop of a potential extension to Victoria’s COVID-19 snap lockdown.
Link Administration Holdings Ltd (ASX: LNK) fell close to 7% today after management decided to rebuff the $3 billion offer for the PEXA property settlement platform which they own 44% of.
This was an interesting turnaround, to say the least, with the slow growth company a willing seller just a few months ago but now ultimately agreeing to retain an increase in its stake ahead of a June initial public offering.
The valuation was 70% higher than its previous estimate yet the share price finished lower.
Staying with IPOs, embattled data player Nuix Ltd (ASX: NXL), which I bought after the first downgrade, has confirmed its revenue will be even lower in FY21 than it expected just five weeks ago.
NXL shares fell 18% with revenue now $173 to $182 million down from $194 million but confidence clearly evaporating.
IOOF finalises MLC purchase, REA offloads Asian stakes, lending weakens
Vertically integrated financial advisory group IOOF Holdings Limited (ASX: IFL) confirmed the finalisation of its acquisition of MLC from the National Australia Bank (ASX: NAB).
Shares moved 0.8% higher as the group welcomes 406 MLC-licensed financial advisers and boosts its funds under management, administration, and advice to close to $494 billion.
Management reiterated the aim of $150 million cost savings before FY22, yet it seems a difficult business model to reinvent given the backdrop of increasing regulation.
Property platform REA Group Limited (ASX: REA) finished 0.5% higher after confirming it would be offloading its investments in Malaysian and Thai property platforms to PropertyGuru, a leader in the region.
Management highlighted this as a ‘unique opportunity to create the most compelling digital classifieds company in South East Asia’.
Any hope of a debt-fuelled recovery was dashed after business lending fell 0.3% in April and 3% for the 12 months.
US markets closed ahead of employment data
US futures are positive as the market is closed for Memorial Day ahead of a major set of employment data to be released later in the week.
Oil rallied strongly after OPEC highlighted an expected run-down in inventories if current supply levels are maintained ahead of an expected recovery in demand.
Gold delivered its biggest monthly gain since July.
