September 22, 2021

Australia… One Hour In… ASX200 down 22

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 22 points (0.3%) to 7252.

Afterpay (+0.5%); has launched Retro Afterpay which will allow customers to retrospectively turn purchases into BNPL. It allows customers to draw down, or borrow, up to $200 against a transaction made within the previous 72 hours, and repay that over 4 payments over 6 weeks.
Lake Resources (+12.6%); has signed a deal with US-based lithium extractor Lilac Solutions, which has ties to Bill Gates and Jeff Bezos.
PointsBet (+2.7%); after British gambling co Entain surged 18% on a report that US co DraftKings made a US$20bn takeover offer.
Tower (+0.7%); downgraded FY guidance from $22m-24m down to $19m-21m.
Zip Co (+0.2%); makes strategic investment in Indian BNPL operator ZestMoney.
Westpac (-0.9%); sale of Westpac Pacific to Kina Bank to no longer proceed.

……hope everyone is ok after the earthquake this morning in Victoria.

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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