Australia…One Hour In…ASX Down 19 Points

By Scott Phillips | More Articles by Scott Phillips

– Appen (-3.8%); Chairman Chris Vonwiller revealed yesterday he had sold 2m shares. He still owns 9,060,083. They are trading @ $29…… do the maths.

– Corporate Travel (+1.8%); did you see my chart this morning?

– Incitec Pivot (+1%); CFO Frank Micallef has resigned.

– (+9%); said that during April/May gross sales were up more than 100% per from a year ago while gross profit improved more than 130% for the two-month period.

– National Aust Bank (+1.8%) and Westpac (+1.4%); raised to Buy recommendation this morning by UBS.

– Qantas (+3.1%); American Airlines share price took off overnight after saying it will lift its flights by 74% in July.

Scott Phillips

About Scott Phillips

Scott has over 35 years experience in Australian equities, starting as a “chalkie” and trader on the Stock Exchange Trading Floor and spending the last 25 years advising and trading for International Institutions. He has been an Executive Director at JPMorgan and Nomura, a Governor of the Australian Stock Exchange and was recently awarded a Lifetime Achievment award by the Australian Stockbrokers Association. Now at Ascot Securities, Scott focuses on advising Family Offices, offshore Soveriegn Funds as well as a growing book of domestic Professional Investors.

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