US Government to invest US$50 Million in Australia | ASX Market Update

  • Jun 22, 2020 AEST
  • Team Kalkine

Wholesale distributor Metcash is benefiting from a continuing growth in sales as customers rediscovered neighbourhood supermarkets during the coronavirus pandemic. The IGA supermarket supplier reported sales revenue for the 12 months to April 30 rose 2.9 per cent to $13.03 billion, led by growth in the food and liquor segments. The group benefited from extraordinary demand levels in the food segment in March and April amid panic buying during coronavirus-related restrictions, but said total sales even before this period had increased 0.2 per cent.

Building products manufacturer James Hardie has lifted its guidance for the June quarter after improved housing market activity, particularly in North America. The world's largest fibre cement maker now expects earnings margin at its key North American business to be between 27 to 29 per cent, compared to an earlier estimate of 22 to 27 per cent. Volumes in North America will be between flat to two per cent higher from its previous estimate of down three per cent.

Austal Limited (ASX:ASB) announced that the US Government, Department of Defense (DoD), in support of U.S. Navy Shipbuilding Industrial Base declared a US$50 million Defense Production Act Title III Agreement with Austal USA. The agreement would maintain, protect, & grow U.S.

#ASB #ASX #Stockstowatch #Kalkine

 


Disclaimer
The video has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above video is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.

 

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.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK