ASX200 up 28 points (0.5%) to 5246.
– Alumina (+3%); aluminium giant Alcoa suspends guidance and cuts output capacity.
– AMP (+0.8%); said FUM declined 13.5% in 1Q, blaming the virus.
– Carsales.com (+3%); unable to provide guidance.
– Evolution Mining (+1.2%); guidance unchanged.
– Galaxy Resources (+8%); said it remains on track to meet FY20 goals.
– Infomedia (TH); trading halt pending a capital raising. Re-affirmed FY20 outlook.
– Flexigroup (+2.8%); defers payment, accelerates cost cutting and said business is tracking along “ok”.
– Lynas (+17%); after market closed yesterday Lynas said it has been awarded a Phase I contract for a US based Heavy Rare Earth separation facility from the US Department of Defense.
– Qantas (+0.7%); press speculation continues that Qantas will be the next major company to raise equity.
– Santos (+6%); 1Q sales revenue fell by 14% on a weaker Oil price. CEO Kevin Gallagher said the company had performed strongly in the quarter in spite of challenges including the coronavirus pandemic and low oil prices.
– Virgin (TH); press speculation saying (1) Melbourne Airport pitches to become Virgin’s home base and (2) AustralianSuper rumoured to join BGH Capital in making a rescue offer…….as I said, press speculation.
….and Melbourne brewery Moon Dog has had to close its two breweries thanks to COVID so it’s come up with a great idea to get its beer out to customers. It will be hosting a competition to find Australia’s best mullet. The winner gets free beer for a year. And just for trying, every entrant gets a free 4-pack. How good is that?