Australia…1 Hour In…ASX200 Down 54 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 54 points (0.9%) to 5982.

– Banks; ANZ -2.2% CBA -2.1% NAB -2.6% WBC -2.4%. Some negative research reports out this morning from a few brokers.

– Gold; trading a record high. NCM +3.2% NST +4.5% SBM +5.5%

– Lynas (+1.6%); welcomes comments from Malaysian Minister of Science that the Atomic Energy Licensing Board has approved the Bukit Ketam site for a permanent deposit facility for water leach purification residue.

– Mesoblast (+6.5%); no news but got a big write up on a popular stock-picking forum website this morning…….(I am a cynic but its probably by someone who is selling today. Or is that just me?)

– Splitit (+9.5%); will raise $90m to accelerate its high growth phase. US technology investment fund Woodson Capital Management is the cornerstone investor. Splitit is the only global platform that enables shoppers to pay installments via their credit card.

– Telstra (-1.7%); to Sell Clayton Data centre to Centuria for $416.7m.

– Virgin Aust (TH); new owners Bain Capital have said they will cut 3000 jobs (1/3 of staff) as they attempt to resurrect the airline.

– Westpac (-2.4%); said it will cut fees for tap and go payments for 37,000 merchant customers as the Bank tries to “help small businesses during this tough time”.

– Woolworths (-1.8%); and other retailers are seeking further details from the Victorian Govt about the current lockdown and how it will affect its supply chain.

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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