February 4, 2021

Australia…One Hour In…ASX down 20 points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 20 points (0.3%) to 6804.

AGL (-6.8%); warned of a $2.686 billion hit to 1H statutory profit as it responds to a worsening outlook for wholesale energy prices.
Nick Scali (+1.5%); said 1H revenue +24% yoy. January the biggest month for orders in history, +47% yoy. Dividend up to 40c.
Origin (-8%); lowered earnings guidance for its Energy Markets division, citing multiple headwinds, but said the Australia Pacific LNG plant is operating better than originally expected.
Qantas (+1.9%); CEO Alan Joyce says he won’t be around for the next big crisis that Qantas will have to face. (no, I don’t really know what he means either…..…)
Tabcorp (-0.4%); have said they are open to takeover talks if the price is right………….

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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