Australia…One Hour In…ASX Up 7 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 7 points (0.1%) to 5967.

– AMP (+18%); has received a takeover proposal from US-based Ares Management , without saying what a potential bid could be worth. AMP said the proposal is indicative, non-binding and conditional.
– Ansell (+1.4%); has upgraded its FY21 earnings guidance after the co experienced better-than-expected production and sales across all business units in the first four months of the FY.
– (-3.9%); AGM today. The virus has hit volumes and the co still cannot provide FY guidance.
– Origin (+1%); 1Q revenue was stable but capex fell 42% qoq.
– Resmed (+8%); 1Q result. Revenue +10% yoy, above consensus.
– Sandfire (+2.8%); will acquire 85% interest in the Red Bore Copper Project in WA.
– Sezzle (+2%); 3Q result. Sales +21% on Q2 but costs rise.
– Southern Cross Media (+3%); said it expects 2Q revenue to fall by 10%-15% yoy.
– Western Areas (-18%); lowered guidance for annual nickel production after encountering setbacks at its Flying Fox mine in Western Australia state.

Google’s third quarter revenue:

2020: $46.2bn
2019: $40.5bn
2018: $33.7bn
2017: $27.8bn
2016: $22.5bn
2015: $18.7bn
2014: $16.5bn
2013: $13.8bn
2012: $13.3bn
2011: $9.7bn
2010: $7.3bn
2009: $5.9bn

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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