Australia… One Hour In… ASX200 up 5

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 5 points to 7288.


Treasurer Josh Frydenberg downgraded the economic outlook at a presentation this morning…….


  • Bank of Queensland (-3.8%); raised its dividend after FY profit more than trebled amid strong home-loan growth.  FY profit $369m vs $115m yoy.
  • Bubs (+18%); presented at the Citi conference this morning.  Seeing recovery in 1Q.    A2M +7.5%
  • Challenger (-0.5%); Outlook update — expects to achieve strong profit growth and reaffirms its FY22 guidance.
  • Commonwealth Bank (-0.2%); AGM is on as I write.
  • Hearts and Minds (+1.4%); have secured Berkshire Hathaway legend Charlie Munger as a guest speak at its upcoming conference.
  • Nearmap (+0.7%); have said allegations of Patent Infringement are without merit.
  • NIB Holdings (-0.6%); announced a new distribution partnership with ING Bank.
  • Paladin (+22%); uranium baby…..
  • PointsBet (+3.6%); named the exclusive betting partner of Curling Canada.
  • Pact Group (-14%); Trading update.    Seeing weaker demand and have stopped the sale process of its Contract Manufacturing business.
  • Star Entertainment (+3.7%); said that assertions in a recent media article about its anti-money-laundering controls are incorrect.
  • Southern Cross Media (+0.2%); AGM today. Covid has slowed business but seeing recovery into year end.

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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