Australia…One Hour In…ASX up 19 points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 19 points (0.3%) to 6620

  • Bega Cheese (+4.6%); market clearly likes its purchase last week of Lion Dairy.    Mmmm, cheese…….
  • Kathmandu (-4.5%); CEO has resigned.
  • Newcrest (-0.6%); has entered into a JV with Greatland Gold for the Havieron  Project.
  • Select Harvest (-5.9%); FY profit -53%.
  • Treasury Wines (-4.8%); announced a series of measures to respond to new tariffs on Australian wine imports in China, including making more wine in other countries and reducing future vintages.    Treasury warned the response measures, however, would have little benefit in the current fiscal year and it would take two to three years for there to be a meaningful impact.    China represented 30% of Treasury’s total group earnings.

……….and Joe Biden has been taken to hospital after falling over while playing with his dog.      He has a twisted ankle.        The dog, a German Shepherd rescue dog called Major, is fine.

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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