Market News

The latest Ai Group Australian Industry Index for June shows that the manufacturing sector remains in contraction, with the index rising 14.7 points to -25.6 points, marking 26 consecutive months of decline.

Orbital UAV is raising $4 million through the issue of approximately 28.6 million new fully paid ordinary shares at an issue price of $0.14 per new share to support its existing engine development programs. 

Pharmaceutical company Cann Group Limited announced its FY23 unaudited results, with its operating revenue expected to be approximately $13.5 million, representing growth of 111 per cent or 2.1 times compared to the prior year revenue.

Nightingale Intelligent Systems, a provider of advanced security drones, announced an exclusive multiyear distribution agreement with public safety technology firm Arvensys Group in an effort to supply artificially intelligent security drones to Australia and New Zealand.

The Australian manufacturing sector is set to see a downward trend in the upcoming months as high inflation, spiralling energy costs, and ongoing labour shortage drag the industry's economic outlook, according to the latest ACCI-Westpac Survey of Industrial Trends. 

Immuron, an Australia-based biopharmaceutical company, is slated to move forward with the clinical evaluation of a new oral therapeutic targeting Campylobacter and Enterotoxigenic Escherichia coli (ETEC) following approval from the US Food and Drug Administration (FDA).

Additive manufacturing companies Stratasys and Desktop Metal have announced they have entered into a definitive agreement where the two companies will combine in an all-stock transaction valued at around USD 1.8 billion (AUD 2.77 billion).

Wire additive manufacturing developer AML3D Limited has received more than $1 million in customer cash receipts, setting a new quarterly earnings record for the company. 

Australia-based global packaging manufacturer Orora has announced its financial results for the half year with earnings before interest and tax (EBIT) of $165.8 million, up 7.3 per cent driven by strong earnings growth in North America and robust earnings performance in Australasia.

The Australian industry marked its 12th consecutive month in construction territory after seeing a fallback in demand and activity in April.