Australia…One Hour In…ASX200 up 19 points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 19 points (0.3%) to 6727

 

  • Airtasker ; was meant to list today but a glitch at the ASX means its now Tuesday.
  • ANZ (+0.6%); agrees to settle US Class Action complaint brought against them in 2016.
  • Bapcor (+0.5%); to acquire 25% of Tye Soon Ltd – the most prominent independent automotive parts distributor in SE Asia.
  • Beach (+1.7%); Gas discovery at Artisan Exploration Well.
  • Commonwealth Bank (-0.4%); has settled the US BBSW class action case.
  • Crown (+18%); Blackstone have made an $11.85 cash bid for Crown  – last sale $9.86.  Trading @ $11.63. The bid is conditional on Regulators approving its casino licenses so that’s months away!
  • Freedom Foods (-80%); re-lists post recapitalisation.
  • Insurers ;    IAG -2.5%  QBE -2.1%  SUN -2%     It’s raining.    A lot.
  • Telstra (+0.5%); plans to place its international assets including sub-sea cables in a new subsidiary, forming a fourth unit under its restructuring plan.

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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