Myer sees opportunity in turning department store into loyalty giant
Olivia Wirth was appointed to run Myer last year after turning Qantas Loyalty into a profit engine for the airline. Earlier this year, she sealed the deal to acquire a number of clothing brands – from Just Jeans to Jay Jays, Dotti and Portmans – from ASX-listed Premier Investments.
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News.com.au
27 minutes ago
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Cautious traders lifted the ASX from an early fall on Tuesday but are still waiting for Wednesday's key CPI figure and US tariff fallout. The benchmark ASX200 eked out a small 6.9 or 0.08 per cent gain to 8,704.6 after falling by as much as 0.6 per cent on the open. The broader All Ordinaries also finished in the green up 3.20 points or 0.04 per cent to 8,966.70. Australia's dollar firmed marginally up 0.06 per cent to buy 65.25 US cents. On an overall quiet day of trading, seven of the 11 sectors finished in the green, led by energy, industrials and healthcare stocks. Woodside Energy gained 1.57 per cent to $26.60 and Santos jumped 2.06 per cent to $7.91 on the back of rising oil prices. Healthcare giant CSL gained 0.52 per cent to $272, Pro Medicus gained 0.86 per cent to $323.21 and Fisher Paykel Healthcare jumped 1.44 per cent to $33.78. It was a mixed day for the market heavyweight big four banks. Commonwealth Bank shares slipped 0.35 per cent to $174.29 while Westpac fell 0.06 per cent to $33.19. Offsetting the falls were gains from National Australia Bank which closed 1.17 per cent higher to $38.20 and ANZ which eked out a 0.03 per cent gain to $30.32. The initial excitement in the markets on the back of a US-EU trade deal over the weekend quickly died down as the White House announced a possible bounce in the tariff rate. Under the new plan the 'Rest of World', including Australia, could now face tariffs of 15 to 20 per cent, up from the 10 per cent initial base rate. senior financial market analyst Kyle Rodda said market excitement on the back of trade talks between the US and the EU was short lived. 'Wall Street failed to hold onto the post US-EU trade deal buzz but that's only because of the mountain of event risk that the markets confront in the coming days,' he said. 'The August 1 trade deadline loomed as potentially the biggest story of the week'. But Mr Rodda pointed out that with deals worked out between the US and the EU, Japan and potentially China means markets attention will shift to macroeconomic figures and corporate earnings. Australia's key macroeconomic data comes out on Wednesday with the release of the quarterly CPI figures. Economists say a quarterly trimmed mean inflation rate between 2.6 and 2.7 per cent over the year, would fall in the RBA's target band of 2 to 3 per cent and open the door for further interest rate relief. In company news, shares in jeweller Michael Hill jumped 2.47 per cent to $0.42 on the bell after the business announced founder Sir Michael Hill died at age 86 earlier on Tuesday. 'To every endeavour he pursued, Michael brought a deep sense of purpose, an enduring curiosity, open-mindedness and creativity that challenged all of us to embrace ever more lofty goals and be unconstrained in our thinking – a legacy that will continue to inspire us,' Michael Hill chairman Rob Fyfe said in a statement to the ASX. Boss Energy continued its slump following the announcement of its result on Monday, dropping another 5.51 per cent to $1.80. The stock fell more than 40 per cent after warning the market it is unlikely to meet its production targets at its Honeymoon project in South Australia on the back of costs and concerns about the uranium quality. Shares in wagering company Tabcorp finished 1.31 per cent higher to $0.78 after Aware Super told the market it exited its stake on July 24 on the back of strong gains made earlier this year.
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an hour ago
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Closing Bell: Market weathers tariff gloom to finish in the green
Energy stocks climb as oil ticks up 2pc ASX rallies late to climb 0.08pc Gold stocks slide despite recovering gold price ASX lifts as clouds part for energy sector The ASX was in a decidedly bad mood today, hanging out in negative territory for the majority of the trading session before recovering in the last half hour. The market closed up 0.08%, crossing into positive territory on a last-minute rally in energy stocks. A 2% uptick in oil prices had the sector yoyo-ing through the day before finally settling in the green to provide some much-needed support for the broader market. Woodside Energy (ASX:WDS) lifted 1.57% and Santos (ASX:STO) added 2%. A little further down the pecking order, alternative energy companies were also moving higher. Green hydrogen firm Provaris Energy (ASX:PV1) climbed 4.55%, and natural hydrogen plays HyTerra (ASX:HYT) and Gold Hydrogen (ASX:GHY) added 5.56% and 1.79% each. 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ASX SMALL CAP LEADERS Today's best performing small cap stocks: Code Name Last % Change Volume Market Cap BEO Beonic Ltd 0.32 49% 219661 $15,235,117 HLX Helix Resources 0.002 33% 2745339 $5,046,291 NAE New Age Exploration 0.004 33% 6000000 $8,117,734 B4P Beforepay Group 2.18 33% 204334 $79,383,074 NOX Noxopharm Limited 0.125 29% 2317923 $28,347,081 SCP Scalare Partners 0.16 28% 293110 $5,229,378 EVG Evion Group NL 0.038 27% 3075443 $13,047,599 HFR Highfield Res Ltd 0.195 26% 625545 $73,481,942 D3E D3 Energy Limited 0.335 24% 565977 $21,458,252 BSA BSA Limited 0.09 23% 15510313 $5,496,919 HCT Holista CollTech Ltd 0.089 22% 1138344 $24,458,551 BDG Black Dragon Gold 0.06 20% 722759 $15,898,303 EE1 Earths Energy Ltd 0.006 20% 100000 $2,649,821 FBR FBR Ltd 0.006 20% 7267046 $28,447,261 SKK Stakk Limited 0.006 20% 83333 $10,375,398 1TT Thrive Tribe Tech 0.0095 19% 791210 $812,691 BM8 Battery Age Minerals 0.07 19% 6584846 $8,956,308 CHM Chimeric Therapeutic 0.0035 17% 4244892 $9,747,370 ENV Enova Mining Limited 0.007 17% 407721 $8,745,600 TON Triton Min Ltd 0.007 17% 607569 $9,410,332 TSL Titanium Sands Ltd 0.007 17% 228039 $14,068,483 GRV Greenvale Energy Ltd 0.051 16% 371924 $23,952,427 AUZ Australian Mines Ltd 0.008 14% 1314681 $11,977,085 AX8 Accelerate Resources 0.008 14% 506793 $5,720,321 BLU Blue Energy Limited 0.008 14% 125000 $12,956,815 In the news… LiDAR-based logistics company Beonic (ASX:BEO) has secured a contract to deploy its passenger flow management technology across seven major international airports in north Africa. BEO reckons the contract is worth about $10.6m over its 2.5-year term, with an option to extend for another three years. The company is already operating in the London Heathrow, JFK Terminal 4, Narita and Abu Dhabi airport hubs. Evion Group's (ASX:EVG) Maniry graphite project has joined an exclusive group of 13 non-EU projects acknowledged by the European Commission's Strategic Projects initiative under the Critical Raw Materials Act. It's a big nod to the project's chops, confirming it as a strategic source of natural graphite at a time when China – the world's number one producer – is throttling international supply. Technical services company BSA (ASX:BSA) delivered $286.8m in revenue for FY2025, a 7% uptick compared to last year. While that's a solid performance by anyone's standards, the company is warning of some serious headwinds on the horizon. BSA was unsuccessful in a new bid on a contract with the NBN, and its smart metering contracts with Intellihub and Bluecurrent are winding down to just about nothing by next year. As those contracts represented 92% of BSA's yearly revenue, the company is aggressively restructuring in an effort to keep the ship afloat, but it's not going to be an easy road. Direct-to-consumer lending firm Beforepay (ASX:B4P) has grown in leaps and bounds this quarter, achieving a 113% increase in quarterly net profit after pulling in $2.4m. Year-on-year revenue is also up 15% to $10.4m and active users have increased 12% to just under 270,000. CEO Jamie Twiss said he "couldn't be happier with this result; it's the perfect way to end a strong financial year.' ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Code Name Last % Change Volume Market Cap ECT Env Clean Tech Ltd. 0.2 -3333% 70167018 $12,046,306 DTM Dart Mining NL 0.3 -2500% 9197764 $4,792,222 EDE Eden Inv Ltd 0.15 -2500% 1100500 $8,219,762 SFG Seafarms Group Ltd 0.15 -2500% 400001 $9,673,198 LM1 Leeuwin Metals Ltd 11 -2414% 1202325 $14,616,926 ANR Anatara Ls Ltd 0.7 -2222% 5143866 $1,920,454 GLA Gladiator Resources 0.7 -2222% 1100000 $6,824,671 PRX Prodigy Gold NL 0.2 -2000% 1421349 $15,875,278 QXR Qx Resources Limited 0.4 -2000% 936755 $6,551,644 RDN Raiden Resources Ltd 0.4 -2000% 3275000 $17,254,457 VRC Volt Resources Ltd 0.4 -2000% 1716667 $23,424,247 KZR Kalamazoo Resources 9.1 -1727% 7641683 $24,133,287 1AI Algorae Pharma 0.5 -1667% 2991398 $10,124,368 BYH Bryah Resources Ltd 0.5 -1667% 139990 $6,171,195 TMX Terrain Minerals 0.25 -1667% 3666666 $7,595,443 IFG Infocusgroup Hldltd 1.6 -1579% 3441552 $5,546,844 GRL Godolphin Resources 1.1 -1538% 100000 $5,835,353 RPG Raptis Group Limited 20.5 -1458% 271844 $84,164,365 KOB Kobaresourceslimited 3.6 -1429% 181858 $8,344,207 AKN Auking Mining Ltd 0.6 -1429% 1379280 $4,816,814 ATV Activeportgroupltd 1.2 -1429% 1621803 $9,617,679 FCT Firstwave Cloud Tech 1.5 -1429% 105900 $29,986,577 NES Nelson Resources. 0.3 -1429% 300000 $7,601,747 RKT Rocketdna Ltd. 1.2 -1429% 1189554 $12,817,325 SP3 Specturltd 1.2 -1429% 205778 $4,436,602 IN CASE YOU MISSED IT St George Mining (ASX:SGQ) has delivered a 30kg bulk sample from its Araxá project to a Brazilian government-backed supply chain program. CuFe (ASX:CUF) has unveiled a scoping study highlighting the strong economics of the Orlando open pit cutback within its 55%-owned Tennant Creek copper-gold project in the Northern Territory. Aroa Biosurgery (ASX:ARX) recorded its third consecutive quarter of positive net cash flow since listing on the ASX in July 2020 and has reaffirmed FY26 revenue guidance. DY6 Metals (ASX:DY6) has kicked off a soil sampling program to guide maiden auger drilling at its Central rutile project in Cameroon. Pancontinental Energy (ASX:PCL) has increased both the potential scale and geological chance of successfully finding oil at its PEL 87 project in the Orange Basin offshore Namibia. Loyal Metals (ASX:LLM) is using modern exploration including a high-tech geophysics drone survey to identify new copper-gold targets. Victory Metals (ASX:VTM) has produced a high-value, mixed rare earth oxide at its North Stanmore project in Western Australia. Resolution Minerals (ASX:RML) has enlisted two Trump-affiliated firms to back its Horse Heaven antimony-tungsten project in proposed Nasdaq listing. Trading Halts Astute Metals (ASX:ASE) – cap raise Catalina Resources (ASX:CTN) – exploration results IRIS Metals (ASX:IR1) – cap raise Noviqtech (ASX:NVQ) – quantum computing deal and cap raise Prescient Therapeutics (ASX:PTX) – cap raise Sequoia Financial Group (ASX:SEQ) – price query response Strategic Energy Resources (ASX:SER) – cap raise TechGen Metals (ASX:TG1) – cap raise At Stockhead, we tell it like it is. While HyTerra is a Stockhead advertiser, it did not sponsor this article.
