All Ords (ASX:XAO) today: what’s happening in Australia


Companies and indices mentioned:
, , ,


Today, the All Ordinaries (ASX: XAO) was trading 0.42% higher, with shares of National Australia Bank Ltd. (ASX:NAB), TPG Telecom Ltd (ASX:TPM) and Breville Group Ltd (ASX:BRG) moving the Australian share market.

Featured Video: Franking Credits Explained

If you need to scrub up on your knowledge of the markets, watch the free video above. For more free videos, subscribe to Rask Australia’s YouTube channel by clicking here – did I mention it’s free?

Important Australian Investor News

1. National Australia Bank – up 3%

NAB is one of the four largest banks in Australia in terms of market capitalisation, earnings and customers. However, as of 2019, it was Australia’s largest lender to businesses and has operations in wealth management and residential lending. It also operates the online-only Ubank.

In its first-quarter trading update NAB notched up a profit of $1.7 billion and cash earnings/profit hit $1.65, up 1% over the same period in 2019. On the capital front, NAB had some 10.6% of CET1 Capital.

“One of our key priorities is to grow our bank safely,” CEO Ross McEwan said. “In a challenging operating environment, featuring a low cash rate and subdued lending growth, our 1Q20 performance is sound.”

Pleasingly for shareholders, the bank’s credit impairment charges fell to $185 million, from $223 million last quarter.

2. TPG Telecom Ltd – down 3%

TPG Telecom is one of Australia’s largest broadband and mobile phone providers, with around 2 million broadband subscribers. In 2018, TPG planned to merge with the owner of Vodafone Australia, Hutchison Telecommunications (ASX: HTA), in a potential $15 billion deal, with legal proceedings related to the merger ongoing.

TPG shares entered a trading halt earlier this week pending the Federal Court of Australia’s decision whether or not its merger with Vodafone Hutchison Australia (ASX: HTA) would lessen or reduce competition in the telecommunications market.

The court declared that the proposed merger would not hurt competition and, therefore, there is now hope for TPG and Vodafone Australia to merge and create a substantial competitor to Telstra and Optus.

TPG executive chairman, David Teoh, said, “TPG is very pleased with the Federal Court decision and looks forward to combining with VHA to create Australia’s newest fully integrated telecommunications operator.”

TPG and HTA will now need to clear other legal and regulatory hurdles before the full integration will proceed.

3. Breville Group Ltd – down 5%

Breville Group was established in Melbourne in 1932 as a radio manufacturer, but during the 1960s the focus shifted to household products and kitchen appliances. Breville Group now includes the brands Breville, Kambrook, Sage and several others, and the products range from toasted sandwich makers to vacuum cleaners.

Yesterday, the small appliance maker reported its half-year financial results showing a 25% increase in revenue and a profit of $49.7 million, up 14%. Dividends per share rose 11% to 20.5 cents. Over the full year, Breville’s management expects operating profit (also known as EBIT) to be consistent with analysts’ consensus forecasts of $110 million.

3 tech stocks for a massive COVID-19 rebound

Amidst the COVID-19 confusion, some cloud-based companies are growing... FAST!

Meanwhile, industry researchers are valuing the entire cloud computing market at $US210 billion. If you ask me, it seems clear as day that this HUGE market is only going to get bigger in 2020 and beyond.

Our top investment analyst has just identified 3 growth stocks in a net cash position, with strong competitive forces... and obvious tailwinds at their back.

Claim your FREE investing report on our analyst's "3 best share ideas for the cloud revolution" when you create a free Rask Australia account.

Our report is 100% free and unlocks hundreds of hours of bonus content.

Simply click here to access the report.


Disclaimer and warning: This information is published by The Rask Group Pty Ltd and contains general financial advice and information. That means, the information/advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms of Service and Financial Services Guide before using this website.

Avatar

Rask Media

Free high-quality* financial news for everyone (*with an occasional spelling mistake). That's our mission. It's what we do. Visit raskmedia.com.au to find the latest news, insights, video and audio content.