Australia…One Hour In…ASX Up 35 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 35 points (0.5%) to 6722.

– Ansell (+4.2%); upgraded by several brokers today.
– Charter Hall (TH); is raising $250m @ $4.65 a share to help fund the purchase of 3 properties in eastern and northern Australia.
– Commonwealth Bank (+0.8%); said China’s banking regulator had approves the sale of it’s stake in BoCommLife Insurance.
– Healius (+4.1%); announced a $200m buy back after posting strong revenue growth in Oct and said day hospital revenue “materially higher” than last year.
– IGO (TH); will raise $766m via 97m new shares @ $4.60 to purchase a lithium mine.
– Infratril (+0.8%); said AustralianSuper’s $3.8bn takeover offer materially undervalues the company.
– Link (-0.9%); said FY21 started well and sees good momentum into FY22.
– Macquarie (-0.2%); said it expects to have sufficient capital to cover APRA proposals.
– Magellan (-0.6%); saw net inflows in November of $26m. Total FUM now $103bn.
– Syrah (TH); in Trading Halt before making a capital raising statement.

Tesla market cap ; $609bn

Other US autos;

Volkswagen $96bn
Audi $83bn
Daimler $74bn
GM $63bn
BMW $58bn
Ferrari $52bn
Honda $51bn
Ford $37bn
Fiat Chrysler $33bn
Peugeot $22bn
Porsche $20bn
Combined total $589bn

Source; Twitter

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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