The ASX 200 (INDEXASX: XJO)
(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) fell by 0.24% on Thursday.
Australian Dollar ($A) (AUDUSD): 67.48US cents
Dow Jones (DJI): down 0.30%
Oil (WTI): $US56.50 per barrel
Gold: $US1,505 per ounce
ASX Sharemarket News
In ASX sharemarket news, measurement technology business IkeGPS Group Limited (ASX: IKE) has announced a capital raising and an acquisition.
It’s acquiring PowerLine Technology Inc’s flagship product, PoleForeman, which is a leading pole loading analysis software solution used in the North American market. Ike has been using this for over three years.
The acquisition will cost NZ$5.4 million, which will be funded by a NZ$5 million capital raising and a retail offer of up to NZ$1.5 million.
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City Chic Collective Ltd (ASX: CCX) has announced it is the ‘stalking horse bidder’ for the e-commerce assets of Avenue Stores which are to be sold via auction in early October.
Avenue is a US-based specialty retailer of plus size clothes, targeting value-conscious women aged 25 to 55. Avenue entered bankruptcy in August and has been closing its physical store network.
If City Chic acquires Avenue, it will get things like the customer database and inventory.
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Woolworths Group Ltd (ASX: WOW) investors will be keeping an eye on the disagreement with Arnott’s according to the Australian Financial Review.
The dispute is about prices and off-shelf promotions such as at the end of the aisles. As you might expect, Arnott’s doesn’t want to pay more, so Woolworths has taken down the displays and now apparently there’s no Arnott’s promotions at all.
Arnott’s staff are apparently having to stock the shelves at some Woolworths supermarkets.
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