Australia… One Hour In… ASX200 down 62

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 62 points (0.9%) to 7257.

 

  • Acrux (-3.8%); its license agreement with Harris Pharmaceutical has been terminated due to Harris filing for Chapter 11.
  • Ampol (+3.5%) / Z Energy (+6%) ; after months of talks, Ampol has bid a total of NZ$4.03 for Z Energy.
  • Aust Pharmaceutical (+0.3%); has raised its FY earnings guidance on a stronger-than-expected performance from its distribution business.
  • Cimic (+0.1%); its UGL business has secured $135m worth of contracts.
  • Downer (-1%); said it would sell its Open Cut Mining East business for $150m, the final step in the company’s divestment of its mining portfolio.
  • GPT (-1.5%); confirmed it is in discussions with two separate parties regarding the potential divestments of Wollongong Central and Casuarina Square.
  • IAG (+2.3%) / Suncorp (-0.3%); Federal Court found in favour of Insurers on a number of policy wording questions
  • Pantera Minerals (TH); the heavy metal miner in Trading Halt.
  • Star Entertainment (-18%); said a 60 Minutes report into its activities is misleading and it will take appropriate steps to address all allegations.

 

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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