Australia…1 Hour In…ASX Down 75 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 75 points (1.2%) to 6117.

– AMP (-4.6%); 3Q net outflows of $1.95bn.
– APA Group (-1.8%); AGM today. 1Q trading in line with expectations and has reaffirmed previous guidance.
– Auckland Airport (+1.6%); AGM today. Said 1Q earnings better than expected with October school holiday passenger numbers up 54% yoy.
– Crown Resorts (-1%); AGM today. Has apologised for governance and risk management failures and will fast track reforms.
– Healius (+6%); 1Q earnings $81.2m vs $32.4m yoy. Co said the strong performance has continued…..
– Mesoblast (-2.5%); announced it is testing remestemcel-L in patients with Crohn’s disease and ulcerative colitis.
– Mirvac (-2.4%); 1Q retail sales -10% yoy. Blamed the virus.
– OZ Minerals (+2.7%); has raised its guidance for FY20 gold production.
– Resolute (-7%); forecast gold production at the lower end of its previous guidance.
– Santos (-2.2%); reported record 3Q production but cut its FY guidance.
– Saracen (-0.2%); 1Q production in line, no change to guidance.
– Star Entertainment (-1.7%); reported July/Sept Q revenue down 75% yoy. Queensland (Jupiters) was in line with pcp but Sydney was hit hard due to social distancing and reduced hours. We know why…..
– Suncorp (-1.5%); AGM today. Have not seen any comments as yet.
– Whitehaven Coal (-3.2%); AGM today. Have not seen any comments as yet.
– Woodside (-2.3%); posted a 42% fall in 3Q revenue on weaker Oil price and the virus.

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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