Australia…1 hour in…ASX down 25 points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 25 points (0.4%) to 6505.

– Altium (+1%); reaffirmed its FY21 revenue and earnings guidance on the expectation a strong 2H will offset the impact of the coronavirus on the 1H.
– BlueScope (+6.4%); raised its 1H earnings guidance again, citing unexpectedly strong demand for steel in Australia. Said all businesses performing well and is looking for growth in the US.
– Flexigroup (+7.5%); expects 1H profit to beat last years $34.5m and has entered into a 5 year partnership with Mastercard that the Australia-listed firm said will take one of its BNPL products global.
– GUD (TH); in trading halt for a capital raising.
– IAG (TH); in trading halt pending business interruption test case response. Co also flagged it may need to raise capital to shore up its balance sheet.
– Invocare (-0.4%); has named ex-RHC director Olivier Chretian as new CEO.
– Nufarm (+2.2%); reported revenue growth of 23% in 2 months through September.
– Orocobre (+8.8%); I can’t see anything stock specific but I note overnight that Boris Johnson said there will be a ban on new petrol and diesel cars from 2030. Good for lithium stocks right?
– Oil Search (-1.6%); said it wants a proposed development of its Alaskan oil assets to be profitable at an oil price around US$35 a barrel, as it outlined an increased resource in the US and updated strategy.
– Regional Express (TH); in trading halt pending a domestic operations announcement.
– Village Roadshow (TH); in trading halt citing a potential material development in proposed BGH transaction.

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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