Family Zone shares rising
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.