The ASX200 ended the day down 15 points to 7046 (-0.2%), after being fairly stable throughout the day. Volume was down due to public holidays across most of the country. NIB Holdings (NHF) up over 10% for the day to close at $5.94 after a business update and FY outlook. Expects underlying operating profit for FY21 to increase from $86.9m for H1 and be within a target range of $200 – $225m. Fellow Health Insurer Medibank Private (MPL) followed suit up 2% to close at a 2-month high of $3.00.
Iron Ore miners were also big winners today on the back of the commodity rising to USD$176 p/t. The big three miners all saw gains with Fortescue Metals (FMG) the pick of the bunch up nearly 5% to $22.70. Gold weakened slightly after seeing a rise over the course of the last week, both Newcrest Mining (NCM) and Northern Star Minerals (NST) down 2.6% and 2.7% respectively.
In other corporate news, Westpac (WBC) said cash earnings will be reduced by $282m due to divestment costs provisions and IT write-offs. Both ANZ and NAB set to report in the first week of May. The market is expecting to see dividends return as earnings recover post pandemic due to the boom in the Australian housing market
Keep an eye out for the below Corporate news this week
|28th April (Wed)||29th April (Thurs)||30th April (Fri)|
|Coles (COL)||Q3 Sales|
|St.Barbara Ltd (SBM)||Q3 Production|
|Sandfire Resources (SFR)||Q3 Activities|
|Woolworths (WOW)||Q3 Sales|
|GPT Group (GPT)||Q1 Update|
|Oceana Gold (OGC)||Q1 Earnings|
|Marley Spoon (MMM)||Q1 Earnings|
|Origin Energy (ORG)||Q3 Production|
|Points Bet (PBH)||Q3 Earnings|