Australia…One Hour In…ASX down 34 points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 34 points (0.4%) to 6791

 

  • Asaleo Care (-0.4%); said the bid from Essity is “materially inadequate”.     Co is targeting more than 10% growth in FY20.
  • Beach (-4.3%); said its 2Q oil and gas production fell by 8% compared to pcp, mainly due to the shutdown of the Otway Gas Plant in November for maintenance.
  • Doctor Care (+0.4%); said unaudited revenue for FY20 is up 102% yoy.
  • Iluka (-4.5%); said it produced less of its core mineral-sands products in 2020 and would temporarily suspend production at one synthetic rutile kiln to lower stockpiles of that commodity.
  • Oil Search (-1.9%); said its annual oil and natural gas production rose by 4% in 2020, led by a record output rate at the Exxon Mobil Corp.-operated PNG LNG facility in Papua New Guinea.
  • PointsBet (-1.4%); has appointed the one and only Paige Spiranac as its new global on-air talent and brand ambassador.
  • Regional Express (+0.6%); launched its new domestic service with a flyover Sydney Harbour and the beaches yesterday – Australia Day.     Looked good……
  • Regis Resources (+0.7%); 2Q production report – maintains FY21 guidance.
  • Reliance Worldwide (+8%); said net sales for the six months through December rose 13% on-year amid increased demand for plumbing supplies across all its markets.
  • St Barbara (-0.2%); 2Q production update – maintains FY21 guidance.

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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