Australia…One Hour In…ASX Down 15 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 15 points (0.2%) to 6620.

– Afterpay (-1.3%); Swedish BNPL giant Klarna has accused Afterpay of running an “extortion system” with its fees. APT CEO Anthony Eisen returned fire by calling is opposite CEO’s claims “desperate”.
– Bega Cheese (+9%); back trading after announcing it is buying Lion Dairy and capital raising.
– Helloworld Travel (-2%); AGM today.
– Oil Search (-2.1%); CFO has resigned.
– Qantas (-0.5%); met with the Victorian Premier about a possible move of its HQ to Victoria.
– Sandfire (+1.1%); AGM today.

Increase in valuations this year:

Amazon: +$682 billion
Apple: +$668 billion
Tesla: +$469 billion
Microsoft: +$414 billion
Facebook: +$200 billion
Google: +$273 billion
Zoom: +$108 billion
Netflix: +$72 billion
Twitter: +$12 billion
Source; Twitter

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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