Health insurance premiums to rise in early 2021: ASX tracking 0.4% lower at noon

21Dec

Health insurance premiums to rise in early 2021: ASX tracking 0.4% lower at noon

 

The Australian share market opened lower this morning with the S&P/ASX 200 Index 26 points down or 0.4 per cent lower at 6,650. Futures are pointing to a fall of 32 points. Shares in online retailer Kogan.com (ASX:KGN) ar doing well today. Shares in Wisetech Global (ASX:WTC) have seen a drop of over 9 per cent. Materials only sector making gains so far this morning.

Broker call

Morgan Stanley rates the A2 Milk Company (ASX:A2M) as an Upgrade to an Equal-weight from an Underweight. A2 Milk now expects FY21 operating earnings (EBITDA) of NZ$406m, a -29% decline. This reflects a reduction in expected sales and a lower margin. Stock is now down -45% since the August result, mainly due to losses from the overseas markets. Target is reduced to $11.00. Shares in the A2 Milk Company (ASX:A2M) are currently 2.2 per cent higher at $10.36.

Company news

The Federal Minister for Health today announced that private health insurance premiums will change across the industry, effective 1 April 2021. Medibank (ASX:MPL) has received approval to increase Medibank and ahm health insurance premiums by an average of 3.25 per cent from 1 April 2021 – its lowest average premium increase in 20 years. Shares in Medibank (ASX:MPL) are currently 1.4 per cent higher at $2.97.

Best and worst performers

The best-performing sector is Materials gaining 0.4 per cent while the sector trailing behind is Real Estate Investment Trust shedding 1.5 per cent.
The best performing stock in the S&P/ASX 200 is Kogan.com (ASX:KGN) rising 5.5 per cent to $19.04, followed by shares in Ramelius Resources (ASX:RMS) and Viva Energy Group (ASX:VEA)
The worst performing stock in the S&P/ASX 200 is Wisetech Global (ASX:WTC) dropping almost 9.4 per cent to $29.87, followed by shares in Netwealth Group (ASX:NWL) and EML Payments (ASX:EML).

Commodities

Gold is trading at US$1,894 an ounce.
Iron ore is 3.7 per cent higher at $164.39.
Futures are suggesting a rise of 6.8 per cent.
One Australian dollar is buying 75.99US.

 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

18May

Tech bulls emerge as S&P 500 jumps, Fortescue, Block, CBA, Flight Centre, AGL on watch: ASX to climb

18 May 2022 - Wall St roared as investors felt optimism on the news from China with no new Covid-19 cases for three days in Shanghai and several economic figures, indicating the strength of the company. Travel stocks took-off, banks stock rallied, riding on the coattails of Berkshire's latest move.

Read More
24Oct

JB Hi-Fi (ASX:JBH) shares leap on strong sales report: ASX tracking 0.5% higher at noon

24 Oct 2019 - The ASX rose at the open and is now tracking 0.5 per cent higher at noon. Shares in Qantas (AXS:QAN) fell after they reported a fall of 0.9% in domestic revenue through the September quarter. JB Hi-Fi (ASX:JBH) shares hit a record high on their quarterly report showing good momentum for sales despite being down on last year.

Read More
15Jul

Wisr (ASX:WZR) receives funding approval from AOFM: Aus shares 1.3% higher at noon

15 Jul 2020 - The Australian share market rose sharply in the first hour of trade this morning and is now tracking 1.3 per cent up at noon. Neo-lender Wisr (ASX:WZR) has received funding approval from the Australian Office of Financial Management of $30.8 million.

Read More
04Mar

Tech stocks hammered, Atassian drops over 6%: ASX poised to open higher

04 Mar 2021 - The ASX looks set to open lower as tech stocks in the US dropped as bond yields rose. The US listed shares of Atlassian fell almost 7 per cent. Shares in electric vehicle company Tesla fell 4 per cent. Britain has hiked corporation tax to 25 per cent as pandemic support hits £407 billion. The British economy is to return to its pre-Covid level by the middle of 2022, with GDP growing by 4 per...

Read More
21Mar

Wall St relief-rally continues, Whitehaven Coal, AGL, Qube on watch today: ASX to rise

21 Mar 2022 - Global major indexes capped off the week on a positive note, as continued geopolitical tensions was offset by optimism amid the world’s largest economies. Investors kept a close eye on a meeting between President Biden and Chinese counterpart Xi Jinping after Biden warned China that the world’s second largest economy would face consequences if aid was given to Russia. Oil rose back above US$100 per barrel.

Read More
01Feb

Major US indexes fall as Fed signals unlikelihood of March rate cut

01 Feb 2024 - US stocks declined on Wednesday following the Federal Reserve's decision to keep interest rates unchanged.

Read More
16Aug

US stocks grow on strong retail sales data, semiconductors lead

16 Aug 2024 - US stocks surged on Thursday as upbeat consumer and labour data fuelled a rally, easing recession fears and bolstering investor confidence.

Read More
13Sep

ECB cuts rates and introduces QE, Trump wants a trade deal: Aus shares rise for 3rd day, up 0.2% noon

13 Sep 2019 - Aussie shares rise as expected on ECB rate cut to -0.5% plus introducing €20b pm in QE. Trump wants full agreement to trade deal. Credit Corp (ASX:CCP) shares trade at new all-time high, Orica (ASX:ORI) at multi-year high. Westpac (ASX:WBC) trades at new year high, Citi says it's a 'buy' even though dividend to drop 10%. Pilbara Minerals (ASX:PLS) to raise $20m through SPP. Syrah Resources (ASX:SYR) clocks revenue.

Read More
02Oct

President Trump contracts Covid-19: Aus shares close 1.4% lower

02 Oct 2020 - The Aussie dollar has toppled, and US futures are looking bleak after confirmation that President Donald Trump and First Lady Melania Trump have contracted Covid-19. The session ended 1.4% lower as investors digested what the inevitable instability and uncertainty would mean for the Aussie market. All of the sectors finished in the red.

Read More
31May

Wall St gains, US jobs data looms ahead, Ords say hold CBA, why Utilities fallen 25% in 12 mths: ASX to edge higher

31 May 2021 - Covered in this report is Wall St's performance on Friday, a weekly wrap for the ASX 200, what's ahead in both local and international economic news, broker recommendations for CBA (ASX:CBA), Costa Group (ASX:CGC) and Fisher & Paykel (ASX:FPH) plus 3 companies to make their debut this week.

Read More