Australia…1 hour in… ASX200 up 46

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 46 points (0.6%) to 7263.

 

April Trade Balance and Retail Sales data due at 11.30……..

 

  • Bega Cheese (-0.1%); has settled its legal proceedings with Kraft Heinz in relation to the dispute over its peanut butter trade dress.  (crunchy for me please…)
  • Cimic (-0.6%); CPB has been awarded a $150m contract as the builder of a residential tower over the top of the new Metro station on Pitt Street.
  • Mesoblast (-0.8%); has delivered its 3Q results.   I am having trouble accessing them……
  • Paladin (-8.8%); has been upgraded from trading on the Pink Market to the OTCQX Market in the US.
  • Pro Medicus (+2.7%); has signed a multi-year research collaboration agreement with the Mayo Clinic.
  • Sezzle (+13.7%); has signed a 3 year deal with Target in the US.
  • Wesfarmers (-0.1%); has seen significant volatility in monthly sales – positive on a 2-year basis but mixed month to month.

 

…..and President Biden has just declared he is aiming to get 70% of adults vaccinated by the 4th of July and has unveiled a plan that offers incentives to get the jab.     Helping him is the nation’s largest brewing company, Anheuser-Busch, who will offer free beer on July 4th to everyone over 21 who has been vaccinated.    Will Australian brewers follow this example?     Asking for a friend……

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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