Market News

ASX-listed company XTEK Limited has received a spare parts order from the Australian Department of Defence to support its newly acquired Small Uncrewed Aerial Systems (SUAS) capability, which was announced in December 2022. 

Global manufacturing output and new orders have shown slower contraction in the first month of 2023, resulting in a 49.1 PMI score in January, up from December’s 48.7 rating. 

The Chinese manufacturing sector experienced its most significant improvement over the past five years this April, according to the latest RatingDog China General Manufacturing Purchasing Managers’ Index (PMI).

The Productivity Commission’s 2023 Bulletin has revealed that the 4.6 per cent fall in labour productivity for the 12 months to March 2023 is brought about by the unwinding of COVID-19-related effects and historically low unemployment rate.

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.

Global manufacturing activity continued to expand in July, although the pace of improvement eased for a second straight month, according to the latest J.P.Morgan Global Manufacturing PMI®, which showed sustained growth in production, new orders and employment while highlighting ongoing uncertainty surrounding the sector.

Quickstep Holdings has secured an $11.3 million purchase order for its Lot 17 F-35 vertical tail components from Marand Precision Engineering, a longstanding to Quickstep on the F-35 program. 

K-TIG Limited has received a $600,000 supply and onsite commissioning order from Brewery Chemical & Dairy Engineering for the development of a Linear Precision Grow Line Circumferential Welding System

Matrix Composites & Engineering has received a contract, projected to be valued at $4 million, to supply offshore drilling contractor TransOcean with drilling riser buoyancy modules. 

Incitec Pivot Limited has agreed to sell its ammonia manufacturing facility in Waggaman, Louisiana to CF Industries Holdings, Inc. (CF) for USD 1.675 billion (AUD 2.5 billion).