Australia…One Hour In…ASX Up 53 Points

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 53 points (0.8%) to 6698.

– Alumina (+3.3%); the bullish double bottom chart pattern has been triggered…..
– APA (+0.5%); will invest up to $460m in a new pipeline connecting gas fields in the Perth Basin of Western Australia with the Goldfields region.
– Brickworks (+3.7%); upgraded by 3 brokers this morning.
– Fletcher Building (+0.4%); said it is expecting a reasonable start to 2H based on order book.
– Galaxy (TH); in trading halt after announcing a $161m capital raising.
– Harvey Norman (+0.3%); said its pretax profit more than doubled between July 1 and October 31.
– Kathmandu (-2%); Trading update. 1Q sales +72% yoy reflecting the Rip Curl acquisition. 1H results depend on Christmas trading.
– Tower (-4.3%); FY profit down 28% yoy.
– Troy Resources (-17%); withdraws guidance and said productivity has been hit by C-19.

………and in case you missed it. News overnight that travellers who arrive in England would be able to cut their quarantine to five days from 14 if they tested negative to the ‘rona on the fifth day.

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.

View more articles by Scott Phillips →