Australia…One Hour In…ASX Up 7 Points

By Scott Phillips | More Articles by Scott Phillips

The Prime Minister (Scott Morrison) has just started a press conference as I write. I assume its about C19 but watch the news services.

– Bubs (-3%); announced Jennifer Hawkins-Phillips as its global brand ambassador.

– Gold; is as hot as a stove. EVN +4.1% NCM +3% PRU +6.3% (nice chart!) RRL +3.1% RSG +5.5%

– IAG (-4.7%); broker downgrades.

– Lynas (+10.6%); signed a contract with the US Dept of Defence for Phase 1 on a US-based Rare Earth Facility.

– Perpetual (TH); will buy a 75% interest in US fund manager Barrow, Hanley, Mewhinney & Strauss for $465m. Will raise $265m via capital raising @ $30.30 a share vs last sale $33.61.

– Wesfarmers (+1%); CEO Rob Scott has praised staff at Bunnings for standing up to that knucklehead woman………

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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