Fam­ily Zone shares ris­ing

Townsville Bulletin - - NEWS -

SHARES in listed Aus­tralian cy­ber- safety firm, Fam­ily Zone, have risen 20 per cent fol­low­ing news it will launch a suite of fam­ily- safe on­line dig­i­tal prod­ucts into the In­done­sian mar­ket. By the end of trade yes­ter­day, shares in Fam­ily Zone had risen 20 per cent to close at 48c.

Fam­ily Zone said it has inked a deal with In­done­sia’s largest mo­bile car­rier – the SingTel part- owned Telkom­sel, which is one of the largest mo­bile providers in the world.

Fol­low­ing a Fe­bru­ary trial of a parental con­trol suite to Telkom­sel’s 165 mil­lion sub­scribers, Fam­ily Zone man­ag­ing direc­tor, Tim Levy, said par­ents in the tech- savvy In­done­sian mar­ket were keen to safely man­age their kids’ on­line ex­pe­ri­ence. A WEAK US dol­lar af­ter a down­side sur­prise in eco­nomic data has pro­pelled the Aus­tralian dol­lar to a two- year high, top­ping US78c for the first time since June 2015.

Be­taShares Cap­i­tal chief econ­o­mist David Bas­sanese said the surge came on the back of US Con­sumer Price In­dex data, which made the mar­ket less con­fi­dent of fur­ther Fed­eral Re­serve rate rises.

“The CPI num­bers on Fri­day are def­i­nitely hav­ing a flow through ef­fect,” Mr Bas­sanese said yes­ter­day. “In­fla­tion has sur­prised on the down­side for a few months now, so fur­ther con­fir­ma­tion of that is putting the pres­sure on the Fed to not raise in­ter­est rates.”

US CPI re­mained un­changed in June af­ter fall­ing 0.1 per cent the pre­vi­ous month and re­tail sales fell for a sec­ond month.

LA OF­FICE: YomCon­nect founder Natalie Scopel­liti with in­vestor Michael Ko­pit­tke at the iNQ start- up hub in Townsville.

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