October 6, 2021

Australia… One Hour In… ASX200 up 13

By Scott Phillips | More Articles by Scott Phillips

ASX200 up 13 points (0.2%) to 7262.

A2Milk (-3.2%); Slater & Gordon have started proceeding against A2M on behalf of shareholders who bought shares between Aug 2020 and May 9 2021.
Banks; APRA has today increased the minimum interest rate buffer it expects banks to use when assessing the serviceability of home loan applications to at least 3 percentage points. Currently about 2.5 points. ANZ -0.2% CBA -2.2% NAB WBC -0.2%
Commonwealth Bank (-2.2%); downgraded from buy to hold by 2 major brokers this morning.
Evolution (+1.9%); has cut its costs forecast.
Magellan (-2.5%); reported net outflows of $617m for the Sept Q.
Qantas (-1.2%); press speculation the surging share price may see the Flying Kangaroo tap the market for equity.

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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