Australia…One Hour In…ASX Up 5 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 5 points to 6551

– Afterpay (+1.4%); said 7m shares will be released from escrow on November 30.
– Flexigroup (+6%); is changing its name to humm group to tap the BNPL market.
– IAG (TH); announces capital raising of $750m to strengthen balance sheet.
– Mesoblast (+12%); has entered an exclusive worldwide license and collaboration agreement with Novartis for Mesoblast’s mesenchymal stromal cell product remestemcel-L.
– Lend Lease (-1.6%); AGM today. Plans to resume the sale of its services business in 2021 after the initial process was held up by the coronavirus pandemic. More to come…..
– Orica (-4.4%); recorded a 31% fall in FY profit and halved its year-end dividend after the global pandemic weighed on sales, but said it is cautiously optimistic about the year ahead.
– Starpharma (+1.1%); AGM today….
– Sydney Airport (-0.6%); not surprising, passenger movement plummeted more than 94% in October from a year ago. Just 225,000 travellers passed through its gates, of which 38,000 were international.
– Washington H Soul Pattinson (-4.5%)/ Regis Healthcare (+22%);  Regis Healthcare has rejected the unsolicited, conditional, non-binding proposal from SOL @ $1.85. Trading @ $1.80

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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