ASX 200 storms higher, up 2.5%

The ASX 200 (ASX: XJO) has stormed higher today, it’s up 2.5%.

The ASX is adding to weeks of gains since the March 2020 crash. It follows on from the gains in overseas share markets on Monday.

CSL (ASX: CSL) makes an acquisition

CSL has announced it has agreed to exercise its right to acquire Vitaeris, a clinical-stage biotechnology company focused on the phase III development of a treatment for rejection in solid organ kidney transplant patients.

The two healthcare businesses entered into a partnership in 2017 to accelerate the development of the program with the option for CSL to acquire Vitaeris in full.

The cost of the acquisition was described as “modest and does not materially change the company’s profit expectation for FY20.”

Read next: 

3 tech stocks to add to your watchlist right now: Tyro, Afterpay & Xero

Is it time to buy Afterpay (APT) shares for US growth?

3 reasons why I’d buy the BetaShares NASDAQ 100 ETF

Wesfarmers (ASX: WES) retail trading update

This morning Wesfarmers gave a retail trading update.

Following the easing of trading restrictions in New Zealand and north-western Tasmania, the company’s retail networks have returned to full operation.

Bunnings sales growth in the second half to date was 19.2%, with 11.3% growth in the FY20 YTD.

Kmart sales growth in the second half to date was 4.1%, with 6.1% growth in the FY20 YTD.

Target sales decline in the second half to date was 1.8%, with a decline of 3.4% in the FY20 YTD.

Catch’s gross transaction value growth in the second half to date was 68.7%, with 43.7% growth in the FY20 YTD.

Officeworks sales growth in the second half to date was 27.8%, with 19.3% growth in the FY20 YTD.

Wesfarmers said that significant demand growth has continued in Bunnings and Officeworks as customers continue to spend more time working, learning and relaxing at home.

G8 Education (ASX: GEM) government funding update

The G8 Education share price is up more than 10% after announcing an update.

The government has announced that the package would cease the week ending 12 July 2020 and that normal subsidies would resume after that.

To support the sector during this period of lower occupancy levels, early learning and care providers will get a transition payment equal to 25% of each centre’s fee level prior to COVID-19, based on the fees in the fortnight prior to 1 March 2020.

This will be about half of the support of the current ECEC package, but is paid in addition to the normal government subsidies. It will be paid from 13 July 2020 to 27 September 2020.

From 200+ ETFs in Australia, our top investment analyst has just identified his #1 ETF for 2021 and beyond.

Low fees? Check.

Long-term growth potential? Check.

Regular cash returns? Check!

This ETF makes investing in ETFs "Super-Easy".

Simply click here or enter your email address below to access the full ETF report, ticker code, and step-by-step investment guide. Our expert's #1 ETF report is completely free.

No gimmicks, no payment, no credit card info. Just enter your email address below and we'll send you the report right away.

From 200+ ETFs in Australia, our top investment analyst has just identified his #1 ETF for 2021 and beyond.

Low fees? Check.

Long-term growth potential? Check.

Regular cash returns? Check!

This ETF makes investing in ETFs "Super-Easy".

Simply click here to access the full ETF report, ticker code, and step-by-step investment guide. Our expert's #1 ETF report is completely free.

No gimmicks, no payment, no credit card info. Just click the link below and enter your email address. We'll send you the report right away.

CLICK HERE TO GET THE REPORT

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Keep reading:

General Financial Advice warning
The information on this website is general financial advice only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website.

© Rask Australia 2020

Join 20,000+ smart investors

Join the Rask Australia mailing and we’ll send you free investment reports, podcasts, expert insights, investing courses, ASX news and lots, lots more. All free. 

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian-owned.

feedback-icon

What can we do better? Please give us us some feedback :)

We care about your experience, please let us know if you have any suggestions to improve our site.