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ASX Live Coverage – Monday, June 30
Welcome to our live coverage of the Australian Securities Exchange (ASX) for Monday, June 30. We are excited to trial this new format, filled with updates throughout the day. Be sure to refresh your browser for the latest information, and feel free to share your feedback on how we can improve.
MotorCycle Holdings Acquires Peter Stevens and Harley-Heaven
9:04 AM – MotorCycle Holdings has signed a binding agreement to acquire selected business assets from Peter Stevens and Harley-Heaven. This acquisition is contingent upon MotorCycle Holdings (MTO) obtaining the necessary motor dealer licenses across each state, alongside a specified number of employees accepting offers of employment with MTO. The transaction is anticipated to fall within the $7 million to $9 million range, subject to adjustments upon completion, in addition to existing motorcycle inventory. Funding for this acquisition will come from cash reserves and facilities, with expectations of being earnings accretive.
Source: ASX Announcement | Company page: MotorCycle Holdings (MTO)
Market Influencers
8:55 AM – On a global scale, the S&P 500 and Nasdaq have reached new all-time highs following a significant recovery in trading momentum in the last hour. The indices experienced volatility amid a mix of trade-related news:
- The United States and China have finalised a new trade agreement, where China commits to delivering rare earths, and in return, the US will withdraw certain restrictive measures.
- US Commerce Secretary Howard Lutnick has announced plans to forge agreements with ten major trading partners.
- In contrast, former President Trump announced the suspension of trade talks with Canada due to its intention to implement a digital services tax that impacts both local and international businesses engaging with Canadian users.
- Both the EU and the US are optimistic about reaching an agreement by the July 9 deadline, with the EU aiming for a mutually beneficial deal while also preparing countermeasures should negotiations fail.
- Taiwan reports “constructive progress” in its second round of trade discussions with the US.
Morning Market Overview
8:30 AM – The S&P/ASX 200 futures have gained 5 points (+0.05%), supported by a robust performance from Wall Street, where the S&P 500 and Nasdaq achieved fresh all-time highs. For those new to our coverage, we recommend reviewing today’s Morning Wrap to get up to speed on the current market landscape.
Stay tuned for more updates throughout the day as we monitor the evolving market conditions and key developments affecting the ASX and beyond.
