Australia… One Hour In… ASX200 down 20

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 20 points (0.3%) to 7411.

 

  • ALS Ltd (+3.3%); has bought a 49% stake in European Pharmaceutical NUVISAN.
  • Commonwealth Bank (-0.8%); has pushed out its rate rise expectations to May 2023.
  • Collection House (-2.4%);  4Q update.
  • Crown (+0.3%); Crown Melbourne will resume normal operations.  “Hygiene protocols remain in place”.  At the casino…?!!
  • Eagers Automotive (+2.9%); Trading update – upgrades guidance on the back of cost savings program.
  • IGO (-1.5%); said FY production of copper and nickel beat expectations, while costs were lower than anticipated.
  • Mount Gibson (-8.6%); Q update.
  • Rio Tinto (-0.8%); H result due after market.
  • RPM Automative (unch); Q4 result of record $15.2m revenue, +48.5% on pcp.
  • St Barbara (-2.6%); Q4 results.
  • Spark Infrastructure (+5%); KKR & Co and the Ontario Teachers’ Pension Plan Board have raised its takeover proposal to $2.95. Trading @ $2.74.

 

……and a classic Gary Larson “Far Side” cartoon.   Something to think about ……….

 

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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