Wren Advisers Daily Update
Summary: Friday 14-August-2020
Australia Value Chg
S&P/ASX All Ordinaries Index 6,261.7 37.8
S&P/ASX 200 Index 6,126.2 35.2
ASX Volume (million) 3,557.4 -151.1
ASX Advances 786 ---
ASX Declines 465 ---
ASX Value ($ million) 6,015.2 -1,386.7
RBA cash rate 0.25 0.00
90 day bank bill rate 0.10 0.00
10 year Treasury bond yield 0.93 0.05
AUD/USD 0.7157 -0.0015
AUD/TWI 61.5 -0.1
USD/JPY 106.85 0.19
EUR/USD 1.1820 0.0006
Asia Value Chg
Nikkei 225 Index 23,289.4 39.8
Hang Seng Index 25,183.0 -47.7
Europe Value Chg
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North America Value Chg
Dow Jones Industrial Average     ---     ---
NYSE Volume (million)     ---     ---
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NYSE Declines     --- ---
NASDAQ Composite Index     ---     ---
NASDAQ Volume (million)     ---     ---
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NASDAQ Declines     --- ---
US 3 month Treasury bill rate     ---     ---
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Commodities Value Chg
London PM gold price (US$/oz)     ---     ---
WTI crude oil price (US$/bbl)     ---     ---
Market News
Technology and gold stocks drive the local share market higher. Defensive industrials and bank stocks underperform.

S&P/ASX 200 Intraday

Mesoblast (MSB) soars 39.1% after a US Food and Drug Administration Advisory Committee votes 9-to-1 in favour of its remestemcel-L therapy.

National Australia Bank (NAB) gains 1.2% after reporting a June quarter statutory net profit of $1.5 billion and cash earning s of $1.55 billion, a fall of 7.0% on a year ago. Credit impairments were up sharply again in the period after a steep rise in the March quarter 2020. Net interest margins were 'broadly stable.'

Mineral sands producer Iluka Resources (ILU) slips 0.8% after reporting a 17.5% in half-yearly net profit. Revenue was down 16.3%.

S&P/ASX Sector Indices (% change)

Online education provider 3P Learning (3PL) surges 22.8% to $1.345 after entering a scheme implementation arrangement with US-based IXL Learning Inc to acquire the company for $1.35 per share in cash. 3PL also released its full-year results which showed a 72.9% fall in full-year net profit on revenue growth of 1.3%.

Baby Bunting Group (BBN) jumps 10.4% after reporting a 14.3% fall in full-year net profit. Revenue was up 10.1% and the retailer says like-for-like sales growth for the first six weeks of FY21 were up 20.0% on last year.

Gold producer Newcrest Mining (NCM) dips 0.9% despite announcing a 15.3% lift in full-year earnings. Revenue was up 15.3% and underlying earnings were up 34% to US$750 million. However the company flags lower gold production in FY21.

ASX Market Moving Stocks

WARNING: While all care has been taken in the preparation of this database (using sources believed to be reliable and accurate), we do not accept responsibility for any loss suffered by any person arising from reliance on this information. This update must not be reproduced in whole or in part without the express written consent of Wren Advisers. The information is of a general nature only and has not been prepared to take into account any particular investor's objectives, financial situation or needs. Investors should seek professional advice from a financial adviser before making any investment decisions based on this information. All figures in Australian dollars unless otherwise indicated.

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