Australia…1 hour in… ASX200 up 37

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 37 points (0.5%) to 7060.

 

  • Crown (-0.4%); the casino in Perth is closed for the week thanks to the ‘rona.   Bars and restaurants still open…..
  • Elders (+0.2%); has appointed Tania Foster as CFO.  She has been at NAB for the last 10 years.
  • Premier Investments (-1.6%); will repay $15m in JobKeeper funds and is confident it will meet market consensus for FY21.
  • Westpac (+4%); 1H result.   A lot of numbers but here are the main ones – 1H revenue +1% yoy.  1H earnings $3.54bn, +256% yoy.  1H cash profit $3.44bn vs $1.19bn profit pcp.  1H ROE 10.2% vs 2.9% pcp.      Looks to be a solid result, ahead of consensus,  with costs going lower. A lot of research notes out there if you want more details..….ANZ +0.9%  CBA +0.8%  NAB +1.8%
  • Worley (-0.6%); has won a Design Contract with Liquid Wind.  No financial details as yet………

 

 

…..and a report in The Australian has said that schools have been urged to ditch calculators and ensure mathematics teaching focuses on building students’ arithmetic knowledge and skills in a bid to help Australia catch up to high-performing nations.

Scott Phillips

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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