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The ASX200 is up, lifting almost half a per cent.
Most sectors are in the green, with real estate and materials leading early gains again today, both up more than 1.5 per cent.
The $18.7 billion takeover bid for Origin Energy (ASX:ORG) is hitting a hurdle, as the company’s largest shareholder, Australian Super, plans to reject the offer from North American consortium Brookfield and EIG.
AustralianSuper owns 13.7 per cent of Origin and is backed by other shareholders, AustralianSuper is seeking a deal price above $10 a share, while the offer on the table values shares around $8.80.
Origin has been trading at just above $9.
Magnum Mining and Exploration (ASX:MGU) has teamed up with Midmetal of Saudi Arabia to jointly fund a feasibility study on producing zero-carbon pig iron.
The two companies will investigate the development of a HIsmelt (said Hi-Smelt) facility in Saudi Arabia. The facility will be fed with magnetite concentrate from Magnum’s Nevada-based Buena Vista project and steel mill waste.
MGU has been trading at 2.3 cents.
Mineral exploration company Dreadnought Resources (ASX:DRE) has kicked off a gold drilling program at its Star of Mangaroon project in WA’s Gascoyne region.
The company is firing up an RC drill rig for 2600 metres across 31 holes to test the validity of existing data from the 80s and 90s reflecting positive gold intersections.
DRE shares are up more than three per cent, trading at 3.3 cents.
Health and Wellness company, The Calmer Co International (ASX:CCO) has reported an increase in its ecommerce sales performance for October.
Ecommerce sales in Australia exceeded $70,000 in October, an 82 per cent increase on September and daily sale rates globally have exceeded $6000. The company accredited its growth to platforms like Amazon and its distribution in Coles Australia.
CCO has been trading at 0.4 cents.
Before we go… data released by the Australian Bureau of Statistics today shows there was a 4.6 per cent decrease in the number of dwelling approvals in September, in seasonally adjusted terms. That’s a turnaround from the 8.1 per cent increase in August.
