ASX200 up 10 points (0.1%) to 6781.
RBA Governor Philip Lowe has given a speech this morning and while there are many headlines, he moved to push back on market pricing that the central bank could raise its official cash rate as early as next year. He says while there is scope for a wide range of views on the outlook, the RBA holds the view that it will be 2024 at the earliest before the official cash rate, now at 0.10%, will need to be raised.
- Afterpay (+9%); completes acquisition of European BNPL provider Pagantis. Will launch services in Spain, France and Italy.
- Afterpay (+9%); US payments giant PayPal will make its new “pay in four” instalment option available to its 9m Australian customers in early June.
- Challenger (+2.1%); has appointed Angela Murphy as Chief Executive Life.
- Funtastic (+9.5%); said it is preparing for accelerated growth in 2021.
- Insurance Aust (+1%); steadier after yesterday saying they had no exposure to Greensill – down 10% at one stage.
- Treasury Wines (+3.6%); has sold four commercial wine brands in the US to The Wine Group for $100m as it continues to slim down its cheaper wines portfolio in the US.
Time it took to reach 100 million paying subscribers:
- Netflix: 10 years, 6 months
- Disney+: 16 months
Source; Twitter
