The S&P/ASX 200 Index (ASX: XJO) went up again today, rising by 0.2% to 6,498 points.
Another promising vaccine
US company Moderna has said that its COVID-19 vaccine is 94.5% effective. The effectiveness rate is similar to the Pfizer rate of 90%.
However, a key difference is that Moderna's vaccine can be stored at regular fridge temperatures for many weeks, which will help with its distribution. Pfizer's vaccine has to be stored at around minus 80C.
Dr Fauci, a leading American infection specialist said: "The vaccine is really the light at the end of the tunnel".
The company thinks it will have enough required safety data by next week and will then apply for emergency use authorisation before the end of the year.
International share markets climbed in reaction to this additional good news. The ASX 200 went higher as well.
Afterpay Ltd (ASX: APT)
It has been a busy week of announcements for Afterpay. Yesterday it responded to the ASIC report into the buy now, pay later industry.
Today it held its AGM. The company highlighted that it will be increasing its investments to achieve a number of outcomes. It wants to enhance its platform and continue to grow its people resources. Afterpay wants to pursue co-marketing opportunities and invest with its retail partners. It wants to consolidate its market-leading position in existing markets. Afterpay also aims to grow into new markets faster and leverage an early mover advantage.
The buy now, pay later business also announced that both Anthony Eisen and Nick Molnar would be co-CEOs of the ASX 200 company.
Afterpay co-CEOs Anthony Eisen and Nick Molnar commented: "Since we founded Afterpay we have always been aligned and excited about the opportunity to create a globally relevant, customer centric business. Not only are we well on our way to achieving this, we are accelerating our efforts to leverage the momentum we have generated.
"The decision to become co-CEOs is a logical one considering our global expansion plans and ambitious long term goals. We are both committed to leading the business over the long term, and driving our strategy to continue generating value for shareholders."
The Afterpay share price fell by 5.4% today.
Charter Hall Group (ASX: CHC)
The Charter Hall share price fell around 6% today.
The property business announced that its wholesale partnership LWHP, which comprises VFMC, Telstra Super and Charter Hall as partners, acquired a $353 million portfolio of six Bunnings assets located in metro markets.
The portfolio of Bunnings Warehouse retail stores was acquired with a yield of 4.63%. The portfolio, 85% of which is located in Sydney, Melbourne and Brisbane, has a weighted average lease expiry (WALE) of 10 years and 2.5% annual rent reviews.
Charter Hall managing director and CEO David Harrison said: "We are proud to further expand our strong relationship with Wesfarmers Ltd (ASX: WES) and Bunnings Group. Across the Charter Hall platform we now have in excess of $2.4 billion invested in 59 Bunnings stores, 50 of which are located in metropolitan locations. This transaction represents our seventh Bunnings portfolio acquired since 2006 when we first recognised the strength of the Bunnings business, the relatively low rents per square metre of lettable area and the large prime sites Bunnings typically occupy."
LWHP fund manager Ben Ellis explained that the partnership had been one of the most successful partnerships delivered an internal rate of return since inception which has exceeded 15% per annum.
