September 28, 2021

Australia… One Hour In… ASX200 down 44

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 44 points (0.6%) to 7339.

Australian Clinical Labs (+3.4%); upgraded its FY guidance.
AGL Energy (-3.2%); press speculation AGL are considering a $500m equity raising ahead of next years demerger.
Beach Energy (+7.9%); said it is targeting production of 28m barrels of oil by FY24 which represents an annual growth rate of 13%. This comes after Beach withdrew its 5 year outlook in April.
Domino’s Pizza (-2.4%); have appointed current Japan CEO as Asia-Pacific CEO, who see’s significant growth and acquisitions in the region.
NIB Holdings (+0.7%); pauses travel insurance sales in Aust/NZ while they pursue new underwriting arrangements.
Origin Energy (+4.4%); will invest an additional $70m in Octopus Energy to keep its 20% stake after Generation Investment paid GBP211m for 7% of Octopus.

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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