Australia…1 Hour In…ASX Up 50 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 50 points (0.9%) to 5866.

– Fortescue (+2%); CEO Andrew “Twiggy” Forrest has bought 6m FMG shares for a lazy $97m.

– Mesoblast (TH); trading halt pending a statement on FDA review of Ryoncil.

– Ramelius (+1.7%); 1Q gold production exceeds company guidance.

– Reliance (+12%); said FY21 has started well but forward visibility remains limited.

– Sandfire (+3%); reached agreement to sell its interest in the Sams Creek Gold Project in New Zealand to Auris Minerals.

– Virgin Aust (TH); a flight attendant has broken her leg when a high speed descent went wrong on a flight from Melbourne to Adelaide.

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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