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ASX 200 morning report – SLC, NSR & BLD shares in focus

The S&P/ASX 200 (ASX: XJO) added another 0.2% on Tuesday, with the materials sector the biggest detractor, falling 0.1% under the weight of BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO).

The IT sector continues to surge, adding 1.3%, along with the real estate sector which jumped 1% on somewhat positive news for the Melbourne lockdown.

The highlights across the market were EML Payments Ltd (ASX: EML), which added 6.3%, NextDC Ltd (ASX: NXT) up 4.4% and Vicinity Centres (ASX: VCX), which was 2.1% higher.

More mixed economic data was released, with CBA’s household card spending over the last fortnight printing 14.5% above 2019 levels. Although impressive on the headline, this was the slowest growth rate seen thus far in 2021.

Boral continues buyback

Boral Limited (ASX: BLD) has continued its on-market share buyback, which is having the reverse effect of seeing acquirer Seven Group Holdings Ltd (ASX: SVW) increase their shareholding by default.

Seven’s offer of $6.50 is now being formalised with the Boral share price well above the proposed price at the current time.

Superloop to acquire Exetel 

Internet service provider Superloop Ltd (ASX: SLC) entered a trading halt before the market opened, announcing its intention to acquire all the shares of private market leader Exetel.

The group is Australia’s largest independent service provider with the deal to include $100 million in cash and $10 million in Superloop shares.

Management suggests that $5 million in synergies will be released in year one, with the deal to be funded via a $100 millon institutional and retail capital raising.

Commenting on the deal, management highlighted the opportunity to bring super-fast, easy and reliable connections to three times more homes and businesses.

National Storage launches capital raising

National Storage REIT (ASX: NSR) delivered record occupancy for its storage units in Australia and New Zealand, after undertaking 27 acquisitions totalling $373 million in 2020.

Yesterday, the company flagged a $325 million capital raising in order to replenish its ‘investment capacity’ and reiterated its expectation to deliver 8% growth in FY21.

ASX 200 today

The ASX 200 is expected to open higher on Wednesday following a mixed lead from US markets overnight. For all the latest, check out Rask Media’s US stock market report.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

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.


At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

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Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

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