Australia…1 hour in… ASX200 up 21

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 21 points (0.3%) to 7050.

 

  • Reserve Bank Interest Rate decision at 2.30pm.   Anybody expecting a change?
  • The Macquarie conference starts today with 99 companies presenting over the next 3 days.

 

  • AGL (+1.6%); said it is forging ahead with plans to split the business and that the sudden departure last month of former CEO didn’t change the rationale for the major restructuring proposed in March.
  • Computershare (-0.5%); maintained FY21 earnings guidance after a stronger-than-expected performance by its issuer services business helped offset the impact of reduced levels of corporate bankruptcies.
  • Flight Centre (-1.1%); expecting 2H losses to be in line with 1H losses but is seeing post covid recovery taking shape.
  • Nick Scali (-1.8%); reiterated its Feb 4 announcement that trading momentum is positive with 1H sales +52%.
  • Nine Entertainment (+0.7%);  3Q ad revenue grew by 6% yoy.  Expects costs to fall 3% yoy.  Stan Sports subscribers approaching 150,000.
  • Ramsay Health (-0.7%); 3Q patient revenues/admissions +4% yoy.
  • Seek (+2.6%); will pay shareholders a 20c div after completing the sell-down of its stake in Chinese jobs portal Zhaopin.
  • Also presenting at the Macq conference today ;  Dexus    Domain   Domino’s Pizza   NIB Holdings    Oil Search   St Barbara   Super Retail   Transurban   Vicinity Centres
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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