Australia…1 hour in… ASX200 down 18

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 18 points (0.2%) to 7027.

 

  • Afterpay (-1.3%) / Sezzle (-0.7%) / Zip (-2.5%); non-bank lender Nimble has warned many customers are facing a looming debt spiral as they max out on BNPL purchases.   Nimble is looking to list next year…….
  • AGL (-0.8%); press speculation the demerger plans are in doubt post the shock departure of CEO Brett Redman.
  • Bingo (+6.7%); has agreed to a takeover offer from Macquarie Infrastructure @ $3.45.   Trading @ $3.42.
  • BlueScope (+1.6%); said it expects to record higher 2H earnings than it anticipated, in big part due to a sharp rise in US steel prices.
  • IRESS (+3.4%); after market yesterday it upgraded its FY21 NPAT guidance from $56m-$63m to $70m-$77m.
  • Reliance Worldwide (-0.8%); delivered a strong 3Q update which puts the industrial valve manufacturer on track for robust profit growth in 2H of FY 2021.
  • South32 (+0.5%); said it produced more metallurgical coal and silver but less manganese ore and thermal coal during 3Q, and that during the FY it should produce more zinc and silver.
  • Tabcorp (+4.6%); said it has received a revised offer for its wagering and media business from global betting firm Entain PLC.  The offer is now valued at $3.5bn versus $3bn previously.

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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