🚀Albanese defends ICC arrest warrant request; Australia labels Houthi group Ansar Allah a terrorist group.
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The S&P/ASX 200 closed 36.3 points lower, down 0.46%.
The S&P/ASX 200 (XJO) fell 36.3 points to 7,811.8, 0.61% from its session low and 0.46% from its high. Advancers trailed decliners 121 to 158 in the S&P/ASX 300 (XKO).
Information Technology (XIJ) (+2.2%) was the best performing sector today, likely due to an 8.7% rise in its second largest constituent, Xero (ASX: XRO). The accounting software giant's FY24 profits exceeded expectations.
Major broker UBS called it "another strong result, particularly on FCF (free cash flow)". They maintained a BUY rating and $141.90 target. Jarden said the result was "strong" and the top line outlook was good. Jarden kept their OVERWEIGHT rating and $141 target.
The XIJ was shakier outside of XRO, with several key names losing +2-3%. This includes recent high flyer Life360 Inc. (ASX: 360), which fell 4.3%. [Read more]
💡Here are a few headlines from this morning:
Another 103 Australians return from New Caledonia. According to AAP, 103 Australians stranded in New Caledonia after deadly riots have returned home, making more than half of those who want to leave the French territory.
Top medical body urges immediate action on medicine shortages. The Royal Australasian College of Physicians (RACP) urges immediate action to address medicine shortages that endanger lives and leave patients without effective alternatives.
Eraring Power Station's Closure Delayed: A Secure Energy Transition. An agreement has been reached by Origin Energy and the NSW government to postpone the Eraring Power Station's closure by two years.
🗳️ HEADSTART
Dutton Calls for Protest Against ICC's "Anti-Semitic Act
Despite criticism that the Coalition should not arbitrarily apply laws, opposition MPs have endorsed leader Peter Dutton's call to think about boycotting the world's top criminal court.
It was possible that they would withdraw in protest from the International Criminal Court, according to Dutton. [Read more]
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🔥 HOT COPY
Australia should recognise Palestine as a state, according to Greens.
In light of Norway, Ireland, and Spain's recognition of a Palestinian state, the Greens have demanded that the government follow suit.
Labour must make sure that Australia follows through on its election pledge, as stated by Greens leader Adam Bandt in a post to X regarding the issue. [Read more]
🛒 MARKET EDGE
Optus Faces Legal Action from Australian Communications Regulator
Due to Optus's September 2022 data breach, the Australian Communications and Media Authority (ACMA) has filed a lawsuit against the company.
As mandated by the Telecommunications Act, the communications watchdog claims that the telecom "Optus failed to protect the confidentiality of its customers’ personal information from unauthorised interference or unauthorised access as required under the Telecommunications (Interception and Access) Act 1979 (Cth) and has filed proceedings in the Federal Court. [Read more]
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🌎 World Tonight
🇹🇼 Taiwan. China launched two days of large-scale military drills around Taiwan as “punishment” for “separatist acts,” days after the self-ruling island swore in a new democratically elected leader who urged Beijing to stop its intimidation.
🇲🇽 Mexico. A strong gust of wind toppled the stage at a campaign rally in Nuevo Leon, northern Mexico, Wednesday evening, killing nine people, including a child, and injuring 63, the governor said.
🇬🇧 United Kingdom. One day following Rishi Sunak's announcement of an election for July 4th, he and Keir Starmer launch their campaigns.
🇮🇷 Iran. Iran's Supreme Leader led prayers at President Ebrahim Raisi's funeral in Tehran on Wednesday as the clerical establishment rushed to elect a successor, which could further erode its legitimacy amid public discontent.
🇳🇨 New Caledonia. After seeing areas devastated by deadly riots in New Caledonia caused by a contested electoral reform, President Emmanuel Macron said police reinforcements would remain as needed.
🏅VIEWPOINT 360
What Australia is doing to address escalating violence against women
Australian researchers urge prioritising evidence-based solutions and incorporating Indigenous experiences to tackle rising gender-based violence cases.
It is a distressing issue. Gender-based violence continues to thrive in many harmful ways. From systemic discrimination, political oppression, and online misogyny to femicide and domestic abuse. [Read more]
📰 Good News, Inspiring, Positive Stories
Australian made lunar rover “hops” across Australia
An Australian Made Moon rover prototype is touring the country, hopping from state to state to undertake design validation testing at specialist facilities, and visiting some very special mates along the way.
Following the unveiling of three new prototypes in Adelaide in March, where the ELO2 Consortium demonstrated its autonomous robotics capabilities by driving a rover at the Australian Rover Challenge from a remote operations command centre located across the globe, ELO2 is taking the prototypes on a road trip across Australia.
The ELO2 Consortium, co-led by EPE and Lunar Outpost Oceania, has been awarded funding under the Australian Space Agency’s Moon to Mars Initiative: Trailblazer Program Stage 1 to design an Australian Made rover for a future mission to the Moon with NASA, as part of the Artemis program. If successful in winning Stage 2, the ELO2 rover will become Australia’s first lunar rover and its name will be “Roo-ver”, as voted by the Australian public. [Read more]
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