December 3, 2020

Australia…One Hour In…ASX up 31 points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 31 points (0.5%) to 6621.

G8 Education (-0.2%); said it has been served with class action proceedings from Slater & Gordon.
Iron Ore; hot as a stove BHP +3.7% FMG +9% MGX +4% RIO +4%
Kogan (+3.3%); has paid $122m for NZ online retailer Mighty Ape.
Macquarie (-0.5%); has agreed to acquire US-based asset and wealth manager Waddell & Reed Financial for US$1.7bn.
Qantas (-0.8%); Trading update. Lots of headlines; O/s flights to remain grounded until at least July. Domestic market improving. Will post a substantial loss for FY21 but expects to be close to breakeven in 1H22. Expects 3Q capacity to rise to 80% of pre-covid levels. Comments still coming out………
Westpac (-0.2%); APRA has threatened Westpac with more court action if it fails to improve its risk governance.
Wisetech (-0.5%); Investor Day.

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.

View more articles by Scott Phillips →