ASX200 down 46 points (0.6%) to 7240
- ANZ (+0.1%); said it is looking to start its $1.5bn buy back in August.
- Afterpay (+1.4%); will launch its banking product in Australia in October. Westpac will hold deposits which would attract a 1% interest rate.
- BHP (-2.2%); said 4Q iron ore production was down 2% yoy, while output of copper also slipped and petroleum volumes increased. Lot of numbers in the Q report but didn’t change any FY estimates.
- Dexus (-0.6%); said it will fund, develop and take a long-term equity interest in Atlassian’s flagship Sydney headquarters.
- JB Hi Fi (+2.7%); said initial results for the recently concluded FY showed record sales and earnings, up 67%, although 4Q sales fell 8%.
- Magellan (-0.4%); CEO Hamish Douglass said “cryptocurrencies are one of the mass delusions in modern history”. “It is inevitable crypto crashes to zero”.
- Oil Search (+3.3%) / Santos (-3%); Oil Search has said it received a takeover approach from Santos about 3 weeks ago, which the board rejected.
- Pointsbet (+2.8%); has entered into an agreement to pursue online sports betting access in Arizona.
- Ramsay Health (+1%); in the UK overnight, Spire has voted down Ramsay’s takeover offer.
- Sydney Airport (-0.4%); total June passengers down 71% yoy. International -94%, domestic -57%. We know why……
- Zip Co (+3.7%); press speculation that multiple suitors are circling.
…and the latest odds for several Australian elections. There has been some change over the last few months;
Federal election.
- Labor $1.85
- Coalition $1.90
When will it be?
- October 2021 $8
- November 2021 $12
- Sept/Dec 2021 $15
NSW due May 2022?
- Gladys $1.15
- Labor $5.00
