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Highlights
Australian shares dipped in opening trade on Monday.
Investors await a rate hike by the RBA amid rising inflation.
The volatility index rose 5.75% to 14.86 in early trade.
The ASX 200 fell at the open on Monday as investors geared up for a widely expected interest rate hike by the Reserve Bank of Australia (RBA) to tame rising inflation. In the first 10 minutes of intra-day trade, the domestic benchmark ASX 200 index dipped 0.98% or 72.8 points to 7362.2. On the other hand, the ASX All Ordinaries index was down 0.97% to 7,649.8. The volatility index rose 5.75% to 14.86. In such a scenario, investors would be on the lookout for stocks which can withstand volatility and give them gains in the longer run.
On this note, let’s look at latest developments around five major ASX-listed stocks:
TPG Telecom Ltd (ASX:TPG)
TPG Telecom is an Australian telecommunication company, which is engaged in offering internet, mobile and fixed line services to its customers.
On 17 March, TPG made some important announcements. The company announced its half-year results and interim dividend date as 19 August 2022. The company has declared 13 September 2022 as the ex-dividend date for interim dividend, while the record date for interim dividend is 14 September 2022. The company announced 12 October 2022 as its interim dividend payment date.
Seek Ltd (ASX:SEK)
Seek is an Australian human resource consulting company.
The company has not announced any major price sensitive updates after its half-year results. In H1 FY22, the company recorded a 59% rise in revenue on the previous corresponding period (PCP) to AU$517.2 million. Net profit after tax (NPAT) on continuing operations surged 147% to AU$124 million.
Mirvac Group (ASX:MGR)
Mirvac Group engages in property asset management business alongside third-party capital management, real estate investments and other property development activities.
The company released an operation update for 3QFY22 towards the end of April. Mirvac reported 2,332 residential sales for fiscal year to date (FYTD), with pre-sales rising to nearly AU$1.6 billion. It settled 1,645 residential lots (FYTD) and expects to settle 2,500 lots in FY22. It also completed 247 leasing deals across nearly 75,600 sqm in the Integrated Investment Portfolio (IIP).
Mineral Resources Ltd (ASX:MIN)
Mineral Resources is an integrated supplier of goods and services to miners. The mining infrastructure provider’s operational segments include mining, mineral services, and processing alongside pit to port solutions.
On 26 April, Mineral Resources announced that it plans to offer up to an aggregate principal amount of US$1 billion of senior unsecured notes due for 2027 and 2030.
Washington H Soul Pattinson and Company Ltd (ASX:SOL)
Australian investment house Washington H Soul Pattinson and Company holds a diverse investment portfolio including a diverse exposure to industries like pharma, resources, telecom, and agriculture among others.
On 28 April, the company announced that it had entered a sale agreement with Aeris Resources Ltd to sell its wholly owned subsidiary, Round Oak Minerals, for AU$234 million.
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