Stocks of the Hour: Pepper Money, Telix Pharmaceuticals & Iluka Resources

Pepper Money (ASX:PPM) is set to acquire a 65 per cent stake in Stratton Finance for $78 million. It said the acquisition will help deliver an immediate avenue for its Asset Finance business, broaden its distribution footprint and provide Straton’s network access to its financial products. The deal is set to be completed in the third quarter of 2022. Shares are trading 4.4 per cent higher at $2.16.

Telix Pharmaceuticals (ASX:TLX) said its prostate cancer imaging agent, Illuccix® is now commercially available in the US. The product can be ordered from 117 cardinal health and pharmalogic pharmacies across the US. On another note, Telix is also putting forward marketing applications in Europe and Canada. Shares are trading 6.1 per cent higher at $4.53.

Meanwhile, mineral sands major Iluka Resources (ASX:ILU) is set to head into the rare earth sector after the board signed off on a $1.2 billion refinery build in WA. Iluka said the refinery will produce rare earth oxides that are critical inputs across a range of industries and technologies, including electric vehicles. Shares are trading 6.3 per cent higher at $12.25.