Australia…1 hour in… ASX200 up 31

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 31 points (0.4%) to 7391.

 

  • Altium (+3/3%); said it could miss its annual guidance due to a slow 1H. Blamed covid.   The co will continue to engage with Autodesk following its rejection of the US firm’s takeover proposal on valuation grounds.
  • Bubs (+22%); launches into the US formula market through Walmart.    A2Milk +2%
  • NRW Holdings (+2.5%); has been awarded a contract from Karara Mining for approx. $702m.
  • Sydney Airport (+1.2%); total passenger traffic was down 59% vs last year.   We know why…..
  • Telstra (+2.4%); its dual listing on the NZ Exchange will end today.
  • Woolworths (-0.1%); Fair Work Australia to take action against the retailer saying it has undercalculated payment to staff of $390m.

 

Friday Dad Joke:

My pet mouse Elvis died recently.    He was……….caught in a trap……

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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