*** INTRADAY ***
Lacklustre trading on the ASX as gains among technology, financial and bank stocks are offset by losses in the real estate, resources and utilities sectors.
ABS figures show residential building approvals rose 7.5% in October 2023 (consensus: 2.0%) driven by a 19.5% jump in apartment approvals. However total approvals are still 6.1% down on a year ago.
Other ABS data show total new capital expenditure was up 0.6% in the September quarter 2023 (consensus: 1.0%) and 10.7% higher for the year.
Iress (IRE) surges 14.6% after saying that revenue growth in the second-half was up 2.6% on the first-half and upgrading its EBITDA guidance to $123-128 million (previously $118-122 million).
Origin Energy (ORG) falls 1.9% after formally rejecting the revised takeover proposal from Canada's Brookfield and its private equity partner EIG. The board says the revised proposal 'is incomplete, complex, highly conditional, and does not provide sufficient
certainty for Origin shareholders.'
SkyCity Entertainment (SKC) adds 0.7% after the High Court of New Zealand ruled in its favour regarding a concession agreement with Macquarie over the termination of a 2019 deal to own and operate car parks at its Auckland casino.