Welcome to Kalkine Media’s daily update of the latest events in the AU financial markets, the economy and major corporate moves -
A2 Milk has upgraded its full-year outlook amid a surge of shoppers stockpiling products during the COVID-19 crisis.
The New Zealand-based dairy producer is among the many food retailers to benefit from the panic-buying of essential items as consumers faced lockdown measures to halt the spread of the coronavirus. Despite uncertainty from COVID-19, revenue for FY20 is expected to be in the range of $A1.61 billion to $A1.65 billion. The company's share price hit an all-time high of $19.23 last week and has climbed about 30 percent in 2020 compared to a 23 percent drop for the wider market.
A rush to stockpile groceries and office supplies ahead of looming COVID-19 lockdown measures pushed retail turnover up by a monthly record of 8.2 percent in March. Shoppers frantically buying food staples and electronics drove March retail turnover up by $2.2 billion to $30.04 billion, according to preliminary seasonally adjusted figures released on Wednesday.
Ramsay Health Care will try and raise $1.4 billion to boost its balance sheet after elective surgery stopped in many countries due to the coronavirus pandemic. Ramsay on Wednesday said it aims to raise $1.2 billion through an underwritten institutional placement and $200 million through a share purchase plan.
Netflix has more than has doubled its own projections for new customers as quarantined audiences binged on series such as Tiger King, but the company predicted a weaker second half of the year if stay-at-home orders to fight the coronavirus are lifted.The world's largest streaming service gained 15.8 million paying customers from January through March, bringing its global total to 182.9 million.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.