Australia…One Hour In…ASX Down 4 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 4 points to 6071

We are waiting for the Treasurer to give a Budget update. Ain’t gonna be pretty!

– Coca Cola (+5%); will have a $160m impairment charge on its Indonesian unit, but said that trading had improved in other key markets.

– Evolution (+0.2%); reported record cash flow and unveiled a maiden reserve of underground ore at its Cowal mine in eastern Australia.

– Newcrest (+2.4%); overcame challenges posed by the coronavirus pandemic to achieve annual guidance for gold production.

– Northern Star (-0.2%); reported record group gold sales.

– Retail Food Group (+1.5%); announced that Dairy Country’s Tullamarine facility has temporarily closed for a deep clean following three workers at the facility testing positive to COVID19.

– Santos (+1.8%); reported a record quarter for oil and natural gas production, although sales revenue fell by 11% due to weakness in global energy prices.

– Tabcorp (+5.8%); CEO to retire.

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.

View more articles by Scott Phillips →