Australia… One Hour In… ASX200 up 53

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 53 points (0.7%) to 7325.


  • Collins Foods (+0.7%); has bought 9 KFC restaurants in the Netherlands for 10.25m Euros.  Will own 55% of KFC’s in the Netherlands.    Hmmm, KFC.
  • Domino’s Pizza (-0.5%); downgraded by 2 brokers this morning, saying they are fully valued, overcooked or looking toppy.    Hmmm, pizza.
  • Hub 24 (+5.6%); Trading Update.  Record 1Q.
  • Iress (+4.2%); no new news on the takeover proposal that I can see…..
  • Lithium;  up 4.7% in the US overnight.   AGY +4%  CXO +8.5%  LIS +5%  LTR +12%
  • Netwealth (+8.5%); Q Update. Said it has boosted its inflows forecast for the FY to $12.5bn from $10bn.
  • Orica (-0.6%); announces ambition to achieve net zero emissions by 2050.
  • Perseus (+5.5%); reports positive exploration results from its Yaoure Mine.
  • Redbubble (-13%); 1Q profit down 34% yoy.    Reiterates FY guidance.
  • Sandfire (+2.4%); sold its Adriatic Metals investment for $97m.
  • SRG Global (+2%); reaffirms FY guidance and forecasts strong growth.
  • South 32 (+5%); will pay up to $2.05bn for a 45% stake in Chile’s Sierra Gorda copper mine.  It will fund the acquisition with a combination of cash and a $1bn underwritten debt facility. It had a $660 million cash balance at the end of September and expects the transaction to be immediately earnings accretive.
  • Viva Leisure (+2.7%); its Plus Fitness brand has today opened its 200th club.
  • Whitehaven (-3%); produced slightly less coal in 1Q versus a year ago, while sales fell sharply because of shipping delays and a sales program at one of its mines that is weighed toward the 2Q.  However, CEO Paul Flynn, said a strong rally in coal prices is expected to boost cash-flow in the coming months and help the coal miner pay off its debt.



…..and McDonalds are now serving “Southern Style” Chicken.  My fast food expert/colleague gives it a thumbs up.    Just saying…..

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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