Australia…One Hour In…ASX Up 86 Points

By Scott Phillips | More Articles by Scott Phillips

– Afterpay (+0.5%); more sizeable broker upgrades this morning.

– Cochlear (-0.2%); CFO Brent Cubis to retire.

– Estia Health (TH); in trading halt pending an announcement. Earlier today said it expects an impairment charge between $124m to $148m.

– Oil Search (-0.2%); expects to report a non-cash, pre-tax impairment charge of $360-400m at its half-year result to take into account “the potential longer-term impact of prevailing economic conditions,”.

Star Entertainment (+4.4%); has ended talks with Qld Govt about a second casino on the Grub Coast.

…and in the US, Tesla was up another $150 (10.8%) on Friday. Now up 55% in the last 2 weeks and is now the 13th largest public company in the US.

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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