Australia..One Hour In…ASX Up 8 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 8 points (0.1%) to 6081.

– AGL (-0.6%); to buy online power provider Click Energy for $115m.

– Ansell (-2%); ex div 39.36c. Trading down 81c.

– Bubs (TH); FY result due today. In trading halt before capital raising statement.

– Fortescue (-7.6%); ex div 100c. Trading down 144c.

– IOOF (TH); agrees to buy NAB’s Wealth unit MLC for $1.44bn. Plans to do a $1.04bn capital raising.

– National Aust Bank (-0.6%); see IOOF. Correct me if I am wrong but from memory NAB bought MLC in 2000 for $4.5bn.

– Orocobre (-10%); back trading after completing a $126m placement @ $2.52. Trading @ $2.61.

– Ooh! Media (+5.5%); names Cathy O’Connor as MD and CEO. Was previously at Nova Entertainment and DMG Radio.

– Service Stream (+4.4%); secured a long‐term agreement with NBN Co for the provision of network operations, maintenance and optimization services to its multi‐technology NBN.

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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