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.
Fund manager merger, commodity rally stokes market, China turning the corner
April has begun just as March finished, with the domestic market rallying on what was generally stock-specific news.
The S&P/ASX200 gained 0.3 per cent despite a broad spread of performances, with six sectors higher led by utilities, up 1.1 per cent, whilst tech and materials also rallied 1 per cent; Fortescue (ASX: FMG) was a key contributor gaining 3.0 per cent.
Iluka (ASX: ILU) hit an all-time high, gaining 6.1 per cent on news of a $1 billion loan from the Australian government.
The facility will provide the capital required to fund the construction of Australia’s first rare earths refinery in Western Australia as the government seeks to become more active in the electric vehicle and sustainable energy supply chains.
Pilbara (ASX: PLS) and Mineral Resources (ASX: MIN) were other winners from the announcement, up 5.5 and 3.4 per cent.
Shares in Telstra (ASX: TLS) were weaker, falling 0.5 per cent after news emerged over the weekend that the PNG Government had levied a one-off tax on the Digicel Pacific business the group was set to acquire.
The payment of $130 million was only just passed through the government and will be challenged, however, it may delay Telstra’s government-backed takeover.
Perpetual lobs bid for Pendal, Magellan surges, AUB on the lookout
Whilst the commodity sector was buoyed by stronger prices, all eyes were on the fund management sector which has experienced a torrid 12 month period.
Nearly every active fund manager in the country, from Platinum (ASX: PTM) to Magellan (ASX: MFG) has been sold off heavily on growth concerns, however, all of them rallied after value manager Perpetual (ASX: PPT) lobbed a $2.4 billion takeover bid for Pendal Group (ASX: PDL), a 39 per cent premium to the previous share price.
Both companies have been aggressively expanding in order to offset growing outflows, with Perpetual buying Barrow Hanley and Trillium, whilst Pendal acquired JB Hambro.
The deal represents a $6.23 offer price, sending shares 18.1 per cent higher, however, Perpetual shares were 6.6 per cent lower on the news.
Combined, the group would have over $225 billion in assets under management and potentially significant cost savings.
Magellan (ASX: MFG) was an ancillary beneficiary with shares hitting a one month high, gaining 9.7 per cent on news that may support further takeover and corporate activity in the struggling sector.
Shares in insurance broker AUB (ASX: AUB) gained 1.9 per cent after management confirmed they were in discussions with Odyssey Investment Partners for the potential purchase of UK insurance broker Tysers.
Asia stocks rally, Musk buys into Twitter, Tesla delivers solid update
The Chinese Hang Seng index was among the highlights on a stronger than expected Monday with the market gaining 2.2 per cent on news the Chinese government had committed to audit sharing with the US in an effort to ensure Chinese companies remain listed overseas.
The likes of Pinduoduo (NYSE: PDD) and Alibaba (NYSE: BABA) were the key beneficiaries gaining 15 and 6 per cent respectively.
The Nasdaq also outperformed, up 1.9 per cent, with the technology sector the key contributor up 1.6 per cent for the session.
The key driver was news that Elon Musk had purchased a 9.2 per cent stake in Twitter (NYSE: TWTR) sending shares 29 per cent higher.
His own Tesla (NYSE: TSLA) business also buoyed the market, gaining 5.6 per cent despite an ‘exceptionally difficult quarter’.
The company managed to deliver 310,000 cars overcoming supply chain and labour issues.
Starbucks (NYSE: SBUX) fell per cent after the new CEO put a stop to the popular share buyback.
The Dow Jones underperformed, gaining 0.3 per cent and the S&P500 0.8 per cent.
