Australia…One Hour In…ASX up 17 points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 17 points (0.2%) to 6838.

 

  • Cimic (-14%); returned to profit in 2020 and said it expects to record an increased profit this year despite ongoing headwinds from the Covid-19 pandemic.
  • Cimic (-14%); press reports that 2 executives working for CIM’s Qatar j/v were arrested and placed in jail as authorities sought answers over scores of legal cases lodged by suppliers and contractors in Qatar.
  • Commonwealth Bank (-0.6%); in short, posted a 21% fall in 1H profit but lifted the dividend significantly to $1.50 vs 98c previously.   Lots of research reports out there.   ANZ -0.1%  NAB -0.4%  WBC -0.1%
  • Crown (-3%); You have read the news about the license issue.  James Packer owns 37% of Crown.  Will he have to sell down his holding?  Probably.  (give me the order JP….)  Market hates uncertainty.
  • IAG (+4.7%); posted a half-year net loss of $460m, driven in part by expenses for potential business interruption pandemic-related claims.   Div 7c vs 10c last year.
  • Mineral Resources (-0.1%); 1H EBITDA $763m, more than doubles.
  • Northern Star (+4%); reported a record net profit and a 27% uplift in its dividend as it prepares to combine with Saracen Minerals.
  • Oil Search (+1.6%); says Fiscal Stability Agreement signed with PNG Govt.
  • Pointsbet (+4.2%); a multi-year strategic partnership with the National Hockey League (NHL), naming PointsBet an “Official Sports Betting Partner of the NHL”.
  • Saracen (TH); 1H profit +46%.   About to merge with Northern Star.

 

THE MOST ANNOYING WOMEN’S ENGLISH ACCENTS TO THE MOST PLEASING

  • USA
  • South Africa
  • New Zealand
  • Australia
  • Wales
  • England
  • Canada
  • Scotland
  • Northern Ireland
  • Ireland

 

THE MOST ANNOYING MEN’S ENGLISH ACCENTS TO THE MOST PLEASING

  • USA
  • Canada
  • Wales
  • South Africa
  • Northern Ireland
  • England
  • New Zealand
  • Australia
  • Ireland
  • Scotland

Source; Twitter survey….

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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