Australia…One Hour In…ASX Up 5 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 5 points (0.1%) to 5905.

– BHP (+0.4%); said it has paid out $7.5b in taxes, royalties and other payments in Australia and $946m in Chile from operations in FY20. (There is much arguing over the tax RATE BHP pay, but they pay a lot of $$$)

– Mesoblast (+8%); remestemcel-L has been selected as the winner of the Fierce Innovation Awards – Life Sciences Edition 2020 for Biotech Innovation.

– Qantas (-0.1%); is considering moving out of its corporate headquarters in Sydney’s Mascot and could shift to Western Sydney Airport or interstate as it prepares for life as a smaller company in the post-pandemic future.

– Telstra (-1.5%); holding EGM today. Only a few headlines so far but looks like they have reaffirmed FY21 guidance while also taking a $400m hit from C-19. Need to confirm this. More to come……

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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