25 stories mentioning ASX:WESUpdated 2d ago
Every FINWIRES story that references ASX:WES, newest first.
Consumer discretionary stocks advanced marginally at midday Tuesday.Wesfarmers (ASX:WES) shares rose nearly 2% in recent trade.Meanwhile, the utilities sector struggled, shedding nearly 2%.Origin Energy (ASX:ORG) shares were down 2% in recent trade.
Wesfarmers (ASX:WES) has agreed to enter a 50:50 joint venture with Built Group to establish Built Living, a new Australian business dedicated to delivering residential apartments at scale through advanced manufacturing, with Wesfarmers initially committing up to AU$100 million of equity, according to a Tuesday Australian bourse filing.The company said Built Living will use Design for Manufacture and Assembly (DfMA) methods, aiming to deliver apartments at about 20% lower cost and 50% faster than traditional construction, with a facility to be established in Western Australia expected to support the delivery of more than 2,000 apartments annually once completed.Construction of the facility is expected to commence in the second half, with the Western Australian Government supporting the establishment through a long-term lease of land in the Neerabup Automation and Robotics Precinct and direct support for facility development, the filing added.The company added that a portion of the facility's annual capacity will be used for government-backed housing projects and the state's social infrastructure pipeline, with the establishment of Built Living also expected to create growth opportunities for Wesfarmers' existing businesses, including through supply arrangements with Bunnings' trade business.Built Living will operate as a standalone company with equal board representation for Wesfarmers and Built, once Wesfarmers has fully deployed its initial AU$100 million commitment, the company said.The company added that the investment is not expected to have a material impact on its earnings in the current financial year.
Consumer discretionary stocks were rising 1% to lead gainers in midday trading Monday.Wesfarmers (ASX:WES) was advancing nearly 2% and Lottery Corp. (ALX:TLC) almost 1%.On the flip side, energy stocks were shedding almost 3% as oil prices gained amid renewed uncertainty surrounding the passage of ships through the Strait of Hormuz and a potential second round of talks between the US and Iran.Viva Energy Group (ASX:VEA) was down more than 5% after saying its fire-hit Geelong refinery is expected to produce diesel and jet fuel at about 80% of capacity and petrol at roughly 60% of capacity in the short term. The company also reported a 5.1% year-over-year increase in first-quarter sales volume.
Information technology stocks were leading gainers with a rise of 1.4% in midday trading on Friday.WiseTech Global (ASX:WTC) was up nearly 4%, and Xero (ASX:XRO) was marginally higher.On the flip side, consumer discretionary stocks were down 0.8% to lead decliners.Kmart owner Wesfarmers (ASX:WES) was shedding more than 1%, while Aristocrat Leisure (ASX:ALL) fell nearly 1%.
Wesfarmers (ASX:WES) said its Bunnings Warehouse, Kmart, Target, Officeworks, and Priceline Pharmacy brands are offering a six-month free trial of the OnePass membership program for new customers, offering free delivery with no minimum spend on eligible items and orders, according to a Tuesday statement from the conglomerate.New customers can sign up for OnePass for the free trial by May 14.Wesfarmers added that current monthly members will receive a six-month pause on their membership payments, after which their subscription will resume their payment plan, while annual members will automatically receive AU$20 off their next full price annual membership renewal.
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