Australia…One Hour In…ASX Down 12 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 12 points (0.2%) to 5853.

– Air New Zealand (-0.8%); said there will be “no Trans-Tasman bubble” in 2020. March 2021 at the earliest……

– Harvey Norman (+3.9%); sales from Harvey Norman, Domayne and Joyce Mayne rose 30.6% yoy from July 1 to Sept 16. JBH +1% KGN -2.2%

– Healthcare; no news out but a few brokers upgrading forecasts as a vaccine is on the horizon. CSL +1.6% SHL +3.1%

– IAG (+0.4%); former CFO Nick Hawkins has been appointed as new CEO.

– Magellan (-0.9%); will be a foundation investor, along with Barclays Capital, in new financial services firm Barrenjoey Capital.

– Origin Energy (-0.4%); work has resumed at its Beetaloo Exploration site in NT after it was shut down in March due to C-19.

– Regional Express (TH); shares halted pending an announcement in relation to funding for starting up domestic operations.

– Village Roadshow (+0.1%); said Warner Bros. won’t renew a contract to distribute films theatrically in Australia and New Zealand when it expires on Dec 31.

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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