Australia…One Hour In…ASX down 48 points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 48 points (0.7%) to 6667.

 

  • Blackrock Mining (+5%);  confirms that POSCO has completed its final approval process for its US$7.5m equity stake in Black Rock Mining’s Mahenge Graphite Mine.
  • Data#3 (+9%); expects to improve on previous 1H record result.
  • JB HiFi (+4.6%); said 1H earnings surged to record levels as consumers continued to spend more time at home amid the coronavirus pandemic.  1H profit +86%.
  • Premier Investments (-2%); Mark McInnes is stepping down as CEO.
  • QBE (-4.5%); said the net cost of business interruption claims in the UK remained unchanged at US$70m, but it would take a more cautious approach on potential claims in Australia.
  • Super Retail (-0.8%); said “unexpected consumer demand” had driven a roughly trebling in statutory net profit in the 1H.
  • Woodside (-3.5%); said it had agreed to expand an LNG supply deal with Uniper Global Commodities , injecting momentum to a possible development of its Scarborough project offshore Australia.

 

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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