Live ASX News Today
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18th Aug 06:14 PM AEST
Sezzle (ASX:SZL) share price drops significantly after second-quarter results
The instalment payment platform, Sezzle Inc. (ASX:SZL) stock prices significantly dropped down by 5% to close at AU$ 6.650 per share, on Wednesday. The Company has shared its second-quarter financial results ended June 30, 2021.
Key highlights:
- The Company has shared an Underlying Merchant Sales worth US$150.6 million.
- Sezzle has stated that it has crossed over the 3.0 million Active Consumers mark.
- Sezzle has also mentioned that the Company is currently associated with 41,800 active merchants on the Sezzle platform.
- The Company has also shared about its recent agreement with and investment from Discover Financial Services and eCommerce platform, BigCommerce, collaborating with Sezzle as its preferred buy now, pay later partner.
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18th Aug 05:49 PM AEST
Coles Group’s (ASX:COL) profit rises by 7.5%, closes strong on ASX
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Supermarket giant Coles Group Limited (ASX:COL) shared the full year results for 2021.
The Company reported an increase of 3.1% in its total sales revenue to AU$38.6 billion, with the Group’s eCommerce sales reaching AU$2.1 billion.
In its full-year results for FY21 announced today, Coles group has revealed that its net profit after tax increased by 7.5% to AU$1,005 million. Besides, the group has also declared a fully franked final dividend of 28 cents per share with a payment date of 28 September 2021. With this, the total FY21 dividends payable is a 6% increase compared to the previous year.
According to the Company’s announcement, Coles Group is now ranked as one of Australia’s most trusted consumer brands in the Roy Morgan survey. Nevertheless, Coles group has become the only mainstream supermarket in Australia to remove door-to-door paper catalogues, launching the digital catalogue and coles&co to deliver more personalised digital engagement, which in-turn has led to a reduction of more than 260 million printed catalogues since the implementation.
The FY21 release says that the Coles liquor division has immensely benefitted from the eCommerce shift. As such, the Liquor revenue for the retailing giant has grown by 6.6% YoY to AU$3,525 million. Meanwhile, data and technology-led solutions enabled Coles to deliver close to AU$300 million of Smarter Selling benefits in FY21.
The stock closed at AU$18.340, up 0.054% today.
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18th Aug 05:22 PM AEST
Star Entertainment (ASX:SGR) to install new gaming machines at The Star Sydney
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The Star Entertainment Group Limited (ASX:SGR) announced today that the NSW Government has approved the proposal of the Company to increase the number of operating gaming machines at The Star Sydney.
The Star Sydney currently holds a license to operate 1500 gaming machines, which is only 1.6% of the total number of machines run statewide. The SGR proposal stated that the Company would be launching 1000 new gaming machines that would become operational in various underperforming pubs, casinos, clubs, etc. The newly installed gaming machines would help the casinos to increase their inventories by 67%.
The proposal has received mixed reactions from the NSW Government. Some argued that installing more gaming machines could result in job loss and unemployment. Therefore, cause an impact on the social lives of the people belonging to the regional communities.
Some people supported the proposal as they believed that installing a higher number of gaming machines would ensure proper money laundering and problem gambling controls stay in place.
Star Entertainment has expected to begin negotiations with the NSW Government soon.
The SGR stock has closed 0.295% lower at AU$3.390 per share on the ASX today.
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18th Aug 04:46 PM AEST
ASX ends lower as miners offset realty stocks gain; BHP, Rio, Pilbara lead fall
Australian shares ended choppy session lower for the third day as mixed corporate earnings and rising COVID-19 cases kept investors jittery. Index heavyweights BHP, Woodside Petroleum, Sims, Netwealth Group and CSL witnessed sell-off after reporting earnings results.
The ASX200 dropped 8.90 points or 0.12% to close lower at 7,502.10. During the day’s trade, the index declined as much as 0.5% to hit an intraday low of 7,511. In the choppy trade, the stock rose up to 0.3% to hit a high of 7,532.90.
Among the individual stocks, technology firm Pro Medicus (ASX: PME) rallied over 16% to emerge as top gainer on the ASX pack. The stock rallied after imaging tech company posted strong earnings for the 2021 financial year.
Some of the other notable gainers were oil producer Beach Energy (ASX: BPT), Domino’s Pizza (ASX: DMP), real estate tech firm Domain Holdings Australia (ASX: DHG) and health care firm Polynovo (ASX:PNV).
On the flip side, global mining major BHP Group (ASX: BHP) topped the losers’ list, falling nearly 7%. Investors gave thumbs down to the stock after it announced to sell its petroleum business to Woodside Petroleum to create a new, bigger petroleum entity. Some of the other top laggards were financial firm Netwealth Group (ASX:NWL), metal recycling firm Sims (ASX:SGM), automotive part manufacturer Bapcor (ASX: BAP) and gold miner Pilbara Minerals (ASX:PLS).
The equity market witnessed broad-based buying as eight of 11 sectoral indices ended in green. The A-REIT sector gained the most and settled with 1.8% gain, followed by utilities, which rose over 1.7%. Among others, telecom and industrial sector also closed with over 1% gain. Financial, information technology and consumer staples indices also saw surge in buying.
Bucking the trend, material sector emerged as worst performer, falling 2.9%. Among other, health care and energy index also ended lower.
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18th Aug 04:45 PM AEST
Ingenia (ASX:INA) EBIT rises 31%, posts growth in all key metrics
lngenia Communities Group (ASX:INA) announced the full-year results for the year ending 30 June 2021 today.
The Company reported an Underlying Profit of AU$77.2 million for the year, a rise of 31% on the previous financial year.
Key highlights:
- The Company has recorded an EBIT of AU$94.4 million, up 31% from the previous financial year.
- Revenue worth AU$295.6 million was recorded, which is 21% higher than previous FY revenue.
- INA has also reported an operating cash flow of AU$137.6 million, up by 105% from the previous financial year.
- The Company has also reported growth in sales pipeline – recorded 317 deposits and contracts in place.
- A significant pipeline of acquisitions was secured and under assessment.
The INA stock closed at AU$6.090, 1.499% higher today.
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18th Aug 03:40 PM AEST
McPherson’s (ASX:MCP) marks 10% fall in sales revenue
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ASX-listed health and beauty company McPherson’s Ltd (ASX:MCP) announced in its FY21 results that the Company’s sales and EBIT are within the guidance ranges provided in the trading update released to the ASX on 29 April this year.
The Aussie supplier reported a 10% decrease in sales revenue to AU$200.5 million. McPherson’s stated in the announcement that its sales revenue excluding China increased by 5% to AU$193.8 million. The drastic decline in export sales of Dr. LeWinn’s brand led to a reduction in haircare, skincare, and bodycare brands revenue of 51% to AU$30.9 million.
Meanwhile, McPherson’s Chief Executive Officer and Managing Director, Grant Peck termed the results disappointing and added that the management team and board take full responsibility for the results that were declared today.
McPherson’s directors today declared a final dividend of 1.5 cps fully franked, payable on 23 September 2021. Total ordinary dividends for the year will be 5.0 cps fully franked (2020: 11.0 cps fully franked), representing an underlying payout ratio of 99%. The Company’s dividend policy is to pay a minimum dividend of 60% of underlying profit after tax, subject to other cash requirements.
The Aussie health, wellness and beauty company has also reported a decline of 27% in its underlying profit before tax.
Post this announcement, shares of McPherson’s Limited declined substantially and at 3:31 PM, they were trading 3.031% lower at AU$1.120 per share.
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18th Aug 03:09 PM AEST
Brambles’ (ASX:BXB) sales goes up 7%, profit rises 8% in FY21
The share price of Brambles Limited (ASX:BXB) traded considerably higher, 3.083% up at AU$12.31 per share on Wednesday as the Company shared the results for FY2021 stating a strong revenue growth and underlying profit.
The Company stated:
- A gain in sales revenue 7% triggered by growth in volume and price realization.
- The Underlying Profit is up 8% contributed by pricing, surcharge income, cost efficiencies and return on supply chain investments.
- The US margins increased by approximately 1% point.
- Free cash flow after dividends of US$341.2 million. This includes US$215 million of timing benefits.
- Final dividend of 10.5 US cents per share was declared, converted and paid as AU14.24 cents and franked at 30%.
The stock BXB traded 2.541% at AU$12.305 per share at 3:00 PM AEST.
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18th Aug 02:07 PM AEST
ACCC warns Australia may face gas shortage in 2022
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The Australian Competition and Consumer Commission (ACCC) shared its six-monthly review on Gas markets on 17 August 2021. It warned that the entire east coast gas market may face gas shortage of up to 2 petajoules next year. For Southern states, the gas shortage may go up to 6 petajoules next year. The chances are high if LNG exporters ship off all of their surplus gas.
Earlier in March, the Australian Energy Market Operator's (AEMO) highlighted that billionaire Andrew Forrest’s plans to have an LNG import terminal by 2022 could avert shortfalls until 2026. However, the ACCC on Tuesday clarified that LNG import terminals should not be ready until 2023.
As per the ACCC report, the forecast depend upon gas demand with respect to supply and store capacity in 2022. The gap could widen if demand from gas-fired power plants surpasses forecasts. Gas prices fell last year due to COVID affected demand. However, as per ACCC, the tightening supply could drive prices higher again.
The dangerous supply situation thus shows the criticality of the new Heads of Agreement between the Federal government and LNG exporters signed in January 2021. Under the deal, three exporters, from the east coast, had agreed to offer uncontracted gas to domestic markets first. However, compliances to the deal have not been sufficient and LNG exporters need to elevate supply.
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18th Aug 02:06 PM AEST
Thomson Resources (ASX:TMZ) completes acquisition of Texas Silver Project
Thomson Resources Limited (ASX:TMZ) informed the market today that it has completed the acquisition of 100% of the Texas Silver Project for around AU$2.5 million.
As per the Company, the acquisition includes all permitted mine infrastructure, mine and exploration leases.
The completion of the Texas acquisition and the recent execution of the definitive agreement for the acquisition of the Silver Spur deposit positions Thomson’s 100% control of the Texas Silver district, the Company stated.
The Texas Silver district has previously produced 3.6 Moz Ag from the Twin Hills and Silver Spur mines and hosts multi-million ounce JORC 2012 silver resources at Twin Hills and the undeveloped Mt Gunyan deposits.
It should be underlined that Thomson has been working with the Texas Vendors prior to Completion to reactivate the Texas Mine site. Thomson has also upgraded the mine water management systems at the Texas site.
TMZ now controls 100% of the Texas silver district deposits of Twin Hills, Mt Gunyan and Silver Spur along with Webbs and Conrad deposits and the right to earn-in and JV on Mt Carrington Silver-Gold Project.
The stock TMZ was spotted trading at AU$0.110 per share at 1:40 PM on the ASX.
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18th Aug 01:40 PM AEST
Super Retail (ASX:SUL) marks robust earnings, shares gain on ASX
Super Retail Group Limited (ASX:SUL) reported record full-year results on Wednesday.
The Company announced a net profit after tax attributable to owners for the 52-week period ended 26 June 2021 of AU$301.0 million.
Other important highlights:
- Total Group sales up 22% to AU$3.45 billion.
- Group like-for-like sales growth of 23%.
- Online sales up 43% to AU$415.6 million.
- Segment earnings before interest and tax (EBIT) up 80% to AU$476.8 million.
- Segment normalised profit before tax (PBT) up 108% to AU$435.8 million.
- Normalised NPAT up 107% to AU$306.8 million.
- Basic EPS up 139% to 133.4 cents.
- The Company announced 100%- franked final dividend of 55.0 cents per share. This brings the full year dividend to 88.0 cents per share.
- Active club members up 22% to 8 million.
The stock SUL was spotted trading 0.305% lower at AU$13.090 per share at 1:30 PM AEST.
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18th Aug 12:36 PM AEST
ASX trims opening losses; BHP, Woodside fall on petroleum merger
Australian shares trade flat by the afternoon, erasing opening losses, led by gains in utilities, consumer staples and financial stocks. However, weak cues from Wall Street and continued rise in COVID-19 cases restricted market’s gain. In the last 24 hours, NSW recorded 633 new local inflections and three deaths, while Victoria reported 24 new cases.
The ASX 200 was currently trading 2 points lower at 7,509 by lunch. Extending previous session losses, the index opened lower today and declined as much as 0.5% to hit a low of 7,470. The index, however, soon pared losses and rose nearly 0.2% within the first hour of trade.
Investors also reacted to corporate earnings with some big player such as Domino’s Pizza, Woodside, Nearmap, Oz Minerals, CSL and Super Retail announcing their results this morning.
Shares of BHP topped the losers list as investors gave thumbs down to the company’s decision to sell its petroleum business to Woodside Petroleum to create a new, bigger petroleum entity.
Some of the other worst performers were financial firm Netwealth Group (ASX:NWL), metal recycling firm Sims (ASX:SGM), gold miner Pilbara Minerals (ASX:PLS) and building products manufacturer Fletcher Building (ASX:FBU).
Meanwhile, oil producer Beach Energy (ASX: BPT) topped the gainer’s chart by rising over 8%. The stock dropped in the last two session after it reported a fall in its revenue and profit for the financial year 2021. Some of the other notable gainers were Domino’s Pizza (ASX: DMP), energy firm Origin Energy (ASX:ORG), infant formula company A2 Milk (ASX: A2M) and biopharma major Clinuvel Pharmaceuticals (ASX:CUV).
On the sectoral front, eight of the eleven sectors were trading in green. The utilities sector was the best performer with a 2% gain, followed by telecom and consumer staples, which rose over 1% each. Among others, financial, A-REIT, industrial, information technology and consumer discretionary were notable gainers.
Bucking the trend, material sector was the worst performer with 1.8% loss, led by sell-off in mining stocks. It was followed by health care, which dropped 0.85%.
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18th Aug 12:34 PM AEST
Nation’s longest electric highway is coming up in WA by 2024
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How will EVs work if there are not chargers? To address the same, Western Australia is planning to develop the country’s longest electrified highway. According to the WA government, most electric cars can run for at least 400km, but charging stations at lesser distances are still needed.
On Tuesday, WA environment and climate action minister Amber-Jade Sanderson expressed the need for an electric highway to boost EV uptake. Hence, the currently planned highway will get 45 spots to make up a fast-charging network for EVs. In addition, there are plans to include up to 90 fast-charging posts and holdup chargers. As a result, fast charging EVs in 15 minutes will be possible and spots chosen will encourage tourists’ time and local business in regional towns.
A tender for the design will soon go out by the end of 2021, and a fully operational network is expected by early 2024. The set-up is key to carry on the transition to net-zero carbon releases by 2050. The WA state government has even launched an Electric Vehicle Action Plan to prepare an electricity system for the expected strong EV uptake.
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18th Aug 12:33 PM AEST
Tabcorp’s (ASX:TAH) group revenue up 8.8%, shares zoom up
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Tabcorp Holdings Limited (ASX:TAH) shared the results for the period 2020/21 full year and reported a strong operational result in a year which was heavily impacted by COVID-19.
Key takeaways from the announcement:
- Group revenue up 8.8% and EBITDA up 11.3% versus the last corresponding period.
- Gearing stands at 2.4 times the gross debt/EBITDA.
- FY21 Dividend 14.5 cents per share, up 31.8% on pcp, 80% payout ratio
Overview by business unit:
Lotteries & Keno: Revenues were $3,206 million, up 9.9% on the pcp, EBITDA was $620 million, 14.4%. The firm has posted a record profit result despite below average jackpots. The Company saw a digital turnover growth of 30% and a resilient performance in retail.
Wagering & Media: Revenues were $2,298 million, up 10.3%, EBITDA was $414 million, up11.6%. Tabcorp witnessed an improved performance and growth across TAB, Media and International. Digital wagering turnover growth of 27%.
Gaming Services: Heavily impacted by venue restrictions in 1H21, revenues were $183 million, down 17.2%, EBITDA was $71 million, down 15.5%. Venue services continued to be heavily COVID-19 impacted.
TAH stock traded 0.412% higher at AU$4.870 per share at 11:50 AM AEST.
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18th Aug 12:01 PM AEST
British government plans to invest US$1.25B towards green hydrogen
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The UK government launched a new strategy to power nearly three million homes, transport and industry, replacing natural gas.
The government intends to meet its five gigawatts (GW) low carbon hydrogen production by 2030,
Almost all the hydrogen produced in the UK is based on fossil fuel energy, and the government is seeking to replace it with green hydrogen.
Policy-makers and industry are actively looking towards hydrogen to reduce the environmental impacts of sectors that are hard to decarbonize. However, the required investment and technical challenges are more while choosing hydrogen as a fuel.
The government wants to replace one-fifth of natural gas with green hydrogen, which is made by electrolysis process using renewable energy to split oxygen and hydrogen.
It also intends to use “blue” hydrogen, though it is not emission free, but the emissions can be captured, stored and later used for other applications.
The government said that nearly US$1.25 billion in funding would be available to support Britain's hydrogen projects, poised to create more than 9,000 jobs by 2030.
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18th Aug 11:56 AM AEST
Nearmap (ASX:NEA) jumps on improving results
Software services firm Nearmap Ltd (ASX:NEA) has shared its financial results for the year ended 30 June 2021 (FY21).
As per the release, on a constant currency basis, the Group has delivered record Incremental Annual Contract Value (IACV) growth and ended the year with a Group ACV portfolio of $133.8 million, exceeding initial FY21 guidance of $120m-$128m. This represents 26% year-on-year growth. This was largely driven by record IACV growth in consecutive half year periods in North America.
Other highlights:
- The Company reported statutory revenue of $113.4 million, up 17% on the pcp. In FY20, it stood at $96.7 million during the same period.
- The statutory loss after tax reduced to $18.8 million from $36.7 million in FY20.
- Group cash balance as on 30 June 2021 stands at $123.4 million.
- The subscription retention increased to 93.1% (FY20: 90.1%) with an ongoing focus on improving customer experience and retention.
The stock NEA was spotted trading 1.9% higher at AU$2.100 per share at 11:40 AM AEST.
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18th Aug 11:34 AM AEST
Crude oil eases on weak Asian data and dampened demand amid rising COVID-19 cases
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Crude oil prices ease on Tuesday on the back of strong dollar and rising cases of Delta variant of coronavirus in Japan, adding to weak demand scenario in Asia.
- October delivery Brent Crude oil futures traded 0.13% down at US$69.02 per barrel, whereas October delivery WTI crude oil futures traded 0.02% down at US$66.33 per barrel as of 18 August 2021 at 10:22 AM AEST.
- The dollar advanced yesterday, bolstered by safe-haven investment, making oil more expensive for other currency holders.
- The crude oil prices extend losses after data from American Petroleum Institute showed that US stocks tumbled sharply, in line with last week’s expectations.
- Money managers cut their long-term position in the US crude in the week to 10 August to the lowest level since November, as rising coronavirus cases in few countries subdued the demand.
- Adding to that, China’s weak factory output and retail sales growth data that missed July expectations, also impacted the prices.
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18th Aug 11:34 AM AEST
Why are Domino's Pizza (ASX:DMP) shares trading at record high today?
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Shares of Domino's Pizza Enterprises Limited (ASX:DMP) rose as much as 4.9% to trade at AU$133.210 - a record high, at 11:10 AM AEST today.
The famous pizza franchise shared its financial results for the twelve months ended June 2021.
Key highlights:
- The Company recorded Global Food sales of $3.74 billion, up 14.6%.
- Online sales up 21.5% to $2.93 billion.
- Underlying EBIT stood at $293.0 million, up 27.2%.
- International EBIT was recorded 41.4% up to $199.5 million, 68.1% of the Group EBIT.
- The Company recorded free cash flow of $216.2 million, up 40.2%.
- Dividend payout ratio to be increased to 80% (up from 70%), the Company informed.
- 285 new stores opened (up 10.7%).
- 3-5 Year Outlook for new store openings increased to 9-12% (up from 7-9%).
Domino’s, as per the release, is showing continued expansion by holding on to customers from the starting peaks of the pandemic, with a two-year cumulative Same Store Sales growth of 13.7%.
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18th Aug 11:03 AM AEST
CSL (ASX:CSL) delivers a strong full year Net Profit of US$2.375 billion
CSL Limited (ASX:CSL) shared its key financial and operational details for the year that ended on 30 June 2021.
Financial Highlights:
- The Company reported net profit after tax of US$2.375 billion for the 12 months ended 30 June 2021, up 13%.
- CSL’s earnings per share stood at US$5.22, up 10%.
- The Company has announced a final dividend of US$1.18 per share (approximately AU$1.61, franked at 10%). Total full year dividend, therefore, has increased to US$2.22 per share, up 10%.
- Net profit after tax for FY22 is anticipated to be in the range of approximately US$2,150 million to US$2,250 million at constant currency.
ASX Buzzing Stocks: Woodside Petroleum, Telix, CSL
The Company shared that it entered into an agreement to manufacture the Oxford University/AstraZeneca COVID-19 vaccine. In addition, the company worked with the University of Queensland (UQ) to develop a COVID-19 vaccine.
Meanwhile, the last traded share price of the stock was AU$297.940 per share on the ASX.
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18th Aug 11:02 AM AEST
Netwealth (ASX:NWL) delivers NPAT growth of 23.9% in FY2021
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Fintech Company Netwealth Group Limited (ASX:NWL) shared its FY-21 results today. Its’ NPAT is growing 23.9% to AU$54.1 million in FY21. The strong growth in earnings is majorly due to a 17% increase in platform revenues. Revenues have reached AU$142 million with a significant increase in funds under administration to AU$47.1 billion as of 30 June 2021.The revenues are highly recurring and predictable in nature.
NWL’s EPS is 22.1 cents in FY21, increasing 24.1% y-o-y. It has a high EBITDA margin of 54.8%, which is 98.1% co-related with pre-tax net operating cashflow. It thus has exceptional cash generation in FY21.
NWL also has a low capital expenditure in FY21. It is debt free and has significant cash on hand.
In FY21 it has spent majorly for strategic investment across IT infrastructure, software and people to support ongoing growth.
NWL shares were spotted trading 4.479% down at AU$14.290 per share at 10:50 AM AEST.
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18th Aug 11:01 AM AEST
Telix (ASX:TLX) and Merck to start Pan-Cancer Clinical Combination Studies
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Telix Pharmaceuticals Limited (ASX:TLX) shared today that it has entered into a pan-cancer clinical collaboration with Merck, Germany, to conduct combination studies with one of Merck’s investigational proprietary DNA Damage Response Inhibitor (DDRi) molecules in combination with each of Telix’s TLX591 and TLX250 molecularly targeted radiation (MTR) therapeutic programs.
The announcement stated that this clinical collaboration builds on the success of a strategic research collaboration agreement between Telix and Merck announced in August 2019.
It should be noted that TLX591 and TLX250 are late-stage products in development for prostate and renal cancer therapy, respectively.
ASX Buzzing Stocks: Woodside Petroleum, Telix, CSL
Under the terms of the collaboration, and based on encouraging pre-clinical data derived from the initial strategic research collaboration, the two parties have agreed to investigate the synergy of these investigational assets with Merck’s DDRi compound across a wide variety of oncology indications in the clinic.
Meanwhile, the stock TLX traded 2.298% higher at AU$6.230 per share at 10:20 AM AEST today.
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18th Aug 10:51 AM AEST
Why are Fisher & Paykel Healthcare (ASX:FPH) shares trading higher today?
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Healthcare company Fisher & Paykel Healthcare Corporation Limited (ASX:FPH) has shared an update on ASX for first four months of 2022 financial year, ended 31 July 2021.
FPH’s revenue for the first four months is AU$583 million. 74% of FPH revenue is from Hospital product business and 26% from Homecare business. In constant currency basis, revenue is down 2% pcp. 66% of FPH’s Hospital revenue is from sale of consumables, and 34% from hardware sales. Its’ hardware volume remained elevated from pre COVID levels.
Outlook-
As per the ASX release, in the short term, FPH expects Hospital sales to continuously be impacted by COVID-19-related hospital admissions. It is likely to influence FPH’s consumable sales over the short term. It expects more patients to obtain benefits its hardware products in future.
In the Homecare product group, growth depends on new patient diagnosis rates, which it expects same or higher than FY21 rates.
FPH also expects transport and R&D costs to be elevated in coming years
FPH shares traded 2.3% higher at AU$31.620 per share at 10:30 AM AEST today.
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18th Aug 10:51 AM AEST
ASX 200 continues its downtrend as Wall Street retreats from record highs
On Wednesday, the Australian shares have started the day continuing their downtrend. The ASX 200 was down 33.1 points or 0.44% at the opening tick to 7,477.9, hurt by a downtick in commodity prices which is weighing on local miners. The rising COVID-19 cases in the country is also reducing the risk appetite of investors.
The Dow Jones fell 282.12 points or 0.79% to 35,343.28, while the S&P 500 was down 0.71% to 4,448.08. The NASDAQ Composite fell 137.58 points or 0.93% to 14,656.18.
The market breadth is somewhat mixed so far with 6 out of the 11 sectors trading lower, with the Energy sector falling the most, tumbling 3.48%, followed by a 2.86% downtick in the financial space. The consumer staples sector is showing strength today, with a 2.72% gain.
Aventus Group (ASX:AVN) has ended FY21 on a strong note, outperforming its funds from operations (FFO) per security guidance. The FFO was up 9.6% to AU$110 million for FY21, while a 7.1% increase was seen in FFO per security to 19.4 cents.
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18th Aug 10:01 AM AEST
Woodside (ASX:WPL) registers US$317 of net profit in 2021 half year
Country’s leading energy firm Woodside Petroleum Ltd (ASX:WPL) shared its half year results for 2021 on 18 August 2021.
Key financial takeaways from the H1 2021:
- The Company recorded net profit after tax (NPAT) of US$317 million.
- Underlying Net Profit After Tax that the firm registered stood at US$354 million, 17% higher that the corresponding period in 2020.
- The operating revenue increased 31% year-on-year to reach $2,504 million. This rise is mainly attributed to the rising realised prices.
ASX Buzzing Stocks: Woodside Petroleum, Telix, CSL
- The directors of the Company have declared an interim dividend of 30 US cents per share (cps), nearly 80% payout ratio of underlying NPAT.
- The Company has reported a positive free cash flow of $311 million and liquidity of $6,038 million.
Company’s Operational performance in H1 2021
- WPL achieved strong production performance from Pluto LNG and Wheatstone.
- The Company finalised arrangements with the Western Australian Government to process third-party gas from the Pluto fields and the Waitsia project through KGP.
- It achieved record premiums to Dated Brent for two cargoes; a Vincent crude cargo, and a Wheatstone condensate cargo.
Meanwhile, the stock WPL traded last at AU$20.730 per share on the ASX.
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18th Aug 09:23 AM AEST
ASX 200 to fall amid Delta variant concerns
The Australian shares are expected to fall in the opening trade on Wednesday, following a decline in major US stock indices and crude oil prices amid the ongoing concerns over fast spread of the Delta coronavirus variant. The Australian share market would trade weak, weighed by a fall in commodity prices, which may exert pressure on domestic miners. Amcor, Coles Group, CSL, Nearmap, OzMinerals, Super Retail, Tabcorp, Webjet and Woodside would announce their earnings on Wednesday.On the other hand, the Dow Jones fell 0.8%, the S&P 500 dropped 0.7%, and the NASDAQ sank 0.9% overnight as investors scaled down their risk appetite. On Tuesday, US shares opened on a muted note after US retail sales fell 1.1% in July. A separate data revealed that output at US factories rose last month.
Earlier, Federal Reserve Chairman Jerome Powell said that the companies may adapt to the Delta variant with time.
US Fed will release its minutes from its July policy-setting meeting on Wednesday, providing fresh fodder to investors to consider how quickly the Fed will move to step back its asset purchase.
On Tuesday, the US Treasury yields remained largely unchanged in choppy trading amid uncertain economic scenario. The 10-year note yields were last at 1.258%, little changed on the day.