Australian…One Hour In…ASX Up 36 Points

By Scott Phillips | More Articles by Scott Phillips

Today is the second time Australians can apply to access their Super due to Covid-19. The ATO website has crashed!

– AMP (+1.9%); has completed the sale of its life insurance unit, AMP Life, to Resolution Life for A$3bn.

– Auckland Airport (-2.6%); will further reduce its workforce after cutting it by 25% in recent months because of the collapse in international travel.

– Austal (+2%); article in the SMH saying Aust “seeks urgently to arm itself with much more lethal weapons”.

– Flight Centre (+4%); secures access to GBP65m debt facility.

– Lend Lease (-3.3%); said it expects to report a statutory loss of up to A$340m due to the virus. And no dividend.

– Perpetual (+1.2%); has completed the acquisition of Trillium Asset Management.

– RIO (+0.3%); has made some senior management changes.

– Star Entertainment (+1.8%); 2H performance was poor,as expected. Jupiters Gold Coast and Treasury Brisbane will reopen on July 3 and Star City will be able to host 5,000 from today. (Do you need to book? Asking for a friend)

– Suncorp (+2.1%); has made several leadership changes.

– Temple & Webster (TH); capital raising.

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.

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