Here are the news headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) on Wednesday.
Here’s the key headline data:
Australian Dollar ($A) (AUDUSD): 73.91 US cents
Dow Jones (DJI): up 0.1%
Oil (WTI): $US70.61 per barrel
Gold: $US1,260 per ounce
Australian Investing News
Making news in Australia, jeweller Michael Hill Internationa Ltd (ASX: MHJ) announced an extension to its debt with Australia and New Zealand Banking Group (ASX: ANZ). Michael Hill said the key point was a maturity extension on its existing multi-option debt facility, which has been increased from $70 million to $110 million and falls due in September 2021.
Radiology business Capitol Health Ltd (ASX: CAJ) announced the acquisition of six new clinics in Perth and three in Melbourne. The clinics will be purchased from four independent owners for $17 million plus $3.3 million for expected performance.
“These acquisitions represent an exciting entry into a new geographic market and will be substantially accretive to earnings,” Capitol Health Managing Director Andrew Harrison said.
Pharmaceuticals business Starpharma Holdings Limited (ASX: SPL) announced a licensing deal for its VivaGel BV to Mundipharma in Europe. The deal will see Starpharma receive a share of revenue and other benefits from milestones.
Starpharama said: “The combination of territories now under licence with Mundipharma means Starpharma is eligible to receive total signing, regulatory and commercial milestones of up to A$33.3 million (US$24.7 million), in addition to receiving revenue share.”
Finally, cannabis company Cann Group Ltd (ASX: CAN) announced it has secured a site for Australia’s largest medicinal cannabis operation. Cann Group said it has signed a Heads of Agreement with Australia Pacific Airports (Melbourne) Pty Ltd for a cultivation and manufacturing facility. The increased facility will be located within the 2,500 hectare Melbourne Airport precinct.
How’s this: Warren Buffett was a millionaire in his late 20’s but ‘only’ worth $300m at his 50th birthday. Now he is a $US84 billion investor. That means he made 99% of his wealth after turning 50! How does a 50-year-old do that? Download the free Aussie investing ebook, “What Buffett’s Investing Checklist Can Teach Aussie Investors“ when you join the free Rask Group Investor Club Newsletter. You’ll get insights into the 4 steps Buffett uses to pick his investments.
Click here to join The Rask Group’s Investor Club Newsletter and Download The Ebook!
