Australia…One Hour In…ASX Down 2 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 2 points to 5960.

– AGL (-0.8%); has confirmed its FY21 guidance but says conditions remain challenging.
– ARB (+6%); said September revenue jumped 18% as the relaxation of lockdown measures saw pent up consumers go hard for vehicle accessories.
– BHP (-2%); speculation that Tesla is in talks with BHP on a nickel deal as the electric-car maker seeks to ramp up production and void a supply crunch.
– Crown (+1%); James Packer is back in the box seat at the NSW casino inquiry.
– Magellan (+1.2%); Sept net inflows $1.198bn. Retail inflows $239m. Institutional inflows $959m. Total FUM A$102bn, +1.2%.
– Retail; will the Budget changes make you go out and spend up big? HVN +1% JBH +1% SUL +1.5%

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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