ASX 200 trades higher; Sealink, Aurelia Metals jumped on profit figures

Highlights

  • In the opening trade, the ASX 200 was trading 4.8 points up at 7,507.8, with the materials sector stocks opening in green on soaring commodities prices.
  • Six out of the 11 sectors are trading in green, with the Materials sector leading the gains with a 0.32% uptick.
  • BNPL giant, Afterpay’s losses for FY21 widened to AU$159.4 million, compared to AU$22.9 million loss in FY20.

The Australian benchmark opened mildly higher on Wednesday, tracking a continued rally on Wall Street overnight. In the opening trade, the ASX 200 was trading 4.8 points up at 7,507.8. Materials sector stocks have opened the first trade in green on soaring commodities prices.

Image Source: Copyright © 2021 Kalkine Media

Global equity markets rose on Tuesday on the back of positive US vaccination news and easing worries about the US Fed tapering stimulus.

Wall Street ended higher on Tuesday as the FDA granted full approval to a COVID-19 vaccine on Monday. The Dow Jones rose 0.09%, to 35,366.26, while the S&P 500 gained 0.15%, to 4,486.23. The NASDAQ Composite added 0.52% and closed the session at 15,019.80.

Related article: US stocks rise on vaccine hopes, positive economic outlook

How has the market performed so far?

By 10:30 AM AEST, the ASX 200 has shot up significantly by 0.45% to 7,536.9, gaining 33.9 points from Tuesday’s closing. The ASX All Ordinaries Index has also risen 37 points or 0.48% to 7,810.7.

Data Source: ASX Website (as of 25 August 2021, 10:30 AM AEST)

Stocks that are supporting the benchmark index in the opening session are Flight Centre Travel Group Limited (ASX:FLT) and Ampol Limited (ASX:ALD), both gaining 2.5% and 1.72%, respectively. On the flip side, stocks putting pressure are Adbri Limited (ASX:ABC) and AGL Energy Limited (ASX:AGL), losing 6.58% and 5.29%, respectively.

                     

Crypto, crude oil, gold & metals: Where are they headed?

 

Coming to the marketing breath, six out of the 11 sectors are trading in green, with the Materials sector leading the gains with a 0.32% uptick, followed by the Energy sector gaining 0.25%. Utilities stocks are down 1.34%, while other sectors remained more or less flat so far. 

Newsmakers

Sealink Travel Group Limited (ASX:SLK) has reported a massive jump of 152.6% in the net profit to AU$74.7 million in FY21, clocking a total revenue of AU$1.17 billion. The company has also declared a dividend of 16 cents per share, up by 45.4% over the last year.

Aurelia Metals Limited’s (ASX:AMI) total revenue increased 26% to AU$416.5 million in FY21, while EBITDA jumped 49% to AU$154.1 million. Despite a 46% increase in the net profit to AU$42.9 million, the company did not declare any dividend during the entire FY21.

Image Source: Copyright © 2021 Kalkine Media

Medical Developments International Limited (ASX:MVP) has reported a net loss of AU$12.6 million, despite sales going up 9% to AU$25.6 million in FY21. The loss included a one-time non-cash impairment of AU$7.8 million related to its medical device goodwill value and CSIRO project.

ClearView Wealth Limited (ASX:CVW) declared a fully franked dividend of 1 cent per share for FY21, better than paying no dividend last year. The underlying net profit jumped 54% to AU$22.7 million as the company’s insurance business remained the key driver in FY21.

BNPL giant Afterpay Limited’s (ASX:APT) losses for FY21 widened to AU$159.4 million, compared to AU$22.9 million loss in FY20. However, for the reported year, the total number of customers climbed 63% to 16.2 million and the total number of active merchants were up 77% to 98,200. 

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