ASX Market Report
|All Ordinaries||5061||12||0.24||$A vs $US||0.6971||--||-0.62|
|S&P/ASX 200||5041||13||0.25||$A vs GBP||0.4578||--||-0.38|
|$A vs YEN||83.17||-1.04||-1.24|
|$A vs EUR||0.6257||--||-0.77|
|$A vs $NZ||1.0954||--||-0.18|
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Friday 4 September - The Australian market closed slightly higher after a day of volatile trading. The mining stocks posted solid gains after an overnight rise in commodity prices, offsetting losses from the energy providers, whilst the big banks experienced mixed results. Most sectors closed in the green, with the exception of energy and financials. The Australian dollar depreciated against most major currencies.
The All Ordinaries added 12.10 points (0.24%) to 5,060.80 while the S&P/ASX 200 rose 12.80 points (0.25%) to 5,040.60.
Mesoblast announced that the allogeneic mesenchymal stem cell-based regenerative medicine product JR-031, developed by the Company's Japanese partner JCR Pharmaceuticals Co, was recommended for approval on 2 September 2015 at a meeting organized by the Committee on Regenerative Medicine Products and Biological Technology of Pharmaceutical Affairs and Food Sanitation Council of the Japan Ministry of Health, Labour and Welfare. JCR said marketing approval of JR-031 is anticipated in the near future. Under its agreement with JCR, the Company is entitled to receive milestone payments on JR-031 product regulatory approvals, as well as royalties and other payments at pre-defined thresholds of cumulative net sales. MSB jumped 24 cents (7.74%) to $3.34.
Echo Entertainment Group (EGP)
Echo Entertainment Group noted the announcement by the NSW Independent Liquor and Gaming Authority (ILGA) that ILGA has granted approval for Genting Hong Kong and relevant individuals and entities connected to or associated with it to increase their aggregate potential maximum voting power in the Company from 10% to 23%. The Genting HK Parties are not permitted to increase their aggregate voting power in the Company above 10% until approval from the Qld Attorney General and Minister for Justice has also been obtained. Approval from the Qld Attorney General and Minister for Justice remains pending. EGP gained 10 cents (2.16%) to $4.74.
The NZX fell 22.80 points (-0.41%) to 5,546.88 while the Nikkei lost 390.23 (-2.15%) points at the time of writing to be last quoted at 17,792.16
The Australian dollar was last quoted at 69.71 US cents.
Companies commencing Ex-Dividend Trading Today (ASX 300):
APN Outdoor Group Limited
Caltex Australia Limited
MMA Offshore Limited
Oil Search Limited
Ramsay Health Care Limited
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