– Ap Eagers (-4%); broker downgrade who said its FY20 earnings are expected to drop sharply.
– BHP (-1.3%); has briefly halted its Jimblebar mine in WA on concerns over low-level injuries at the site.
– Fletcher Building (+1.3%); plans to reduce its workforce in NZ and Australia by 1,500 people due to the virus – which is about 10% of its workforce. Predictably, they see business conditions being difficult but expect core businesses to be profitable in May and June.
– Fortescue (-0.5%); press speculation saying that “China may turn to Brazil, India and South Africa for iron ore amid rising tensions with Australia.” FMG has the largest exposure to China. Is this a new story ? Don’t think so.
– Newcrest (-1.4%); said there is enough water at its Cadia mine to last for at least 2 years.
– Sydney Airport (-0.2%); released its traffic numbers for April. As expected all were down more than 97%.