Australia…One Hour In…ASX Down 7 Points

By Scott Phillips | More Articles by Scott Phillips

– Afterpay (+1.3%); has announced a partnership with Qantas Frequent Flyers.

– Afterpay (+1.3%); UBS has this morning doubled down and “maintains sell recommendation” on Afterpay.

– Fischer and Paykel (+0.1%); CEO sold 86k shares.

– Mayne Pharma (+9%); has struck a deal with Novast Laboratories of China to manufacture 13 oral contraceptives which Mayne will market to the US.

– Mesoblast (+6.5%); reported an expanded access protocol for compassionate use of its allogeneic mesenchymal stem cell product candidate remestemcel-L in the treatment of COVID-19 infected children.

– Qantas (-2%); NSW will close the border with Victoria from midnight tonight.

– Santos (+0.5%); has signed an MOU with Natural Soda to use salt removed from produced water at its Narrabri project.

– Transurban (-1.9%); announces that it opened the M8 (formerly known as the New M5) and commenced tolling on the M5 East on 5 July 2020.

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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