Australia… One Hour In… ASX200 up 3

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 3 points (0.4%)  to 7596.

 

  • ANZ (+1.3%); appoints Farhan Faruqui as CFO.   Currently heads ANZ Institutional.
  • Austal (+0.1%); has been awarded a $32.8m contract to design and build a 66m high-speed catamaran or The Degage Group of French Polynesia.
  • Commonwealth Bank (+1.2%); FY net profit $8.65bn, +19.8% yoy. Dividend $2 vs $1.50 yoy. $6bn buy back.  Lots of comments out there…..
  • Computershare (+0.5%); after market yesterday said that FY profit fell 19% due to record-low interest rates and US restrictions on mortgage foreclosures.
  • IAG (); posted a FY21 $427m loss, driven by one-off expenses($1.15Bbn) relating to business interruption, customer refunds and payroll remediation.
  • Invocare (-0.3%); announced a partnership with digital memorialisation co, Memories, to offer customer-focussed online memorial products.
  • Iress (+4.5%); said it will support EQT sweetened bid @ $15.91 vs previous $15.30.  Trading @ $15.00
  • Mineral Resources (-3.8%); reported a 27% rise in FY profit and lifted Dividend to $1.75 vs 77c yoy.
  • Regional Express (-0.8%); is standing down hundreds of staff and expects a fall of $18m for the FY.
  • Seek (-3%); will transfer the bulk of its investments to a new independent fund in a move that the online employment marketplace said should increase capital access for its early stage ventures.

 

……and with NSW now in week 7 of lockdown the latest odds for the next NSW election.  Due May 2022 (I think);

  • Gladys      $1.50     (was $1.09 pre lockdown)
  • Labor         $2.50      (were about $6….)

 

…and Federal Election;

  • Labor        $1.88
  • Coalition  $1.90

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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