Australia.. One Hour In…ASX Down 6 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 6 points (0.1%) to 6167.

– Austal (-0.3%); will acquire BSE Maritime Solutions for $27.5m. BSE is a leading ship repair and support business.
– Beach Energy (+1.3%); 1Q in line and maintains guidance.
– Bluescope (+11%); expects 1H earnings to rise by about 30%.
– Coca Cola (TH); in Trading Halt pending an announcement relating to potential material transaction.
– Dexus (-0.2%); AGM gave FY21 guidance which was in line with previous year.
– IAG (-0.2%); AGM today. Says 1Q similar to 2H last year. Records low single digit premium growth.
– Link (-1.2%); said the t/o bid by PEP/Carlyle undervalues the company and is not in the best interests of the shareholders.
– National Australia Bank (-0.1%); said 2H result will include $642m in additional one off items. Will increase remediation provision by $128m and report property related impairment of $134m.
– Qantas (+1.1%); the AGM has just started. No headlines as I write………
– QBE (+1.6%); names Richard Pryce as interim CEO.
– Worley (+0.6%); AGM today. Said its on track to deliver operational savings of $275m. C-19 still causing headwinds.

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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