ASX200 down 56 points (0.9%) to 6069
– Altium (+2.5%); FY profit fell 42% as the virus hit demand for its circuit board software.
– Bendigo (-5%); FY profit fell nearly 50% to $192m. Defers dividend and is unable to provide meaningful guidance due to C19.
– BlueScope (-0.6%); reported a 91% fall in FY profit. C19. Unable to provide guidance.
– GWA (-11%); FY profit $71.8m, down 8% YoY, and below estimates of $76m. Sees very challenging trading in FY21.
– IAG (-1.4%); raising $300m through Debt issue.
– JB Hi-Fi (+5.4%); FY profit grew 21% reflecting increased sales as consumers spent more time at home due to coronavirus restrictions. Div 90c, +76%.
– Lend Lease (-1%); reported an FY loss of $310m vs $467m profit last year as it absorbed costs tied to the exit of its engineering business and the impact of C19. No div. Said conditions deteriorated significantly in 2H.
– Lynas (TH); FY loss $19.4m vs $80m profit YoY. Announced capital raising $425m.
– Magellan (-3.3%); ex div 122c. Trading down 216c.
– Platinum Asset Mgt (-1.8%); Kerr Neilson will step down as analyst.
– StarPharma (+3.9%); has signed a new research partnership with Chinese Pharmaceutical company Tianjin Chase Sun Pharmaceutical Co to develop several nanoparticle formulations for an anti-infective drug.
The number of international travellers entering Australia has screeched to a halt. (Why are there any at all?)
– A measly 5400 foreign visitors entered the country in June, a quarter of them Kiwis.
– Almost 16,000 Australians returned from overseas during the month, 98% lower than June last year.
– Less than 60 international students arrived in Australia in June, compared to the 45,980 in the same month the previous year.