Australia..One Hour In…ASX Up 58 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 58 points (1%) to 6091.

– AMP (-0.9%); press this morning reporting of some internal issues.

– Austal (+5%); still seeing the love after the Govt said they will ramp up spending on national security.

– BlueScope (-2.8%); broker downgrades.

– Cochlear (+5%); has obtained FDA approval for four new products which will be commercially released in the US and Europe in the next few months.

– Domino’s Pizza (+2.8%); sizzling hot today — and I don’t know why. Anyone?

– Tubi (+240%); sees significant production turnaround (+55%) during covid-19. Disclaimer; the author USED to own Tubi but lost patience……!

– Whitehaven (+2.3%); faces legal action for alleged breaches of water use laws at its Maules Creek mine.

– Worley (+0.8%); has been awarded a services contract for its European battery material investment project in Finland.

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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