Great grain gains 🌾

Company news dropped like hailstones well before the open. Graincorp was the only game in town until the Prime Minister threw open the borders to vaccinated travellers and travel stocks clamoured higher in the last hour of trade. Graincorp closed up nearly 13% thanks to a strong harvest and freight management, followed by travel besties Flight Centre and Corporate Travel adding 7-8% Elders added 5% on agricultural contagion while Iluka popped on its win against its shareholder class action. While the markets embraced Westpac last week, ANZ’s more opaque update saw its share price hammered to a one-year low. Magellan’s woes keep on coming, this time closing down over 10% on further fund outflows and Hamish Douglass stepping down for health reasons. This is despite co-founder Chris Mackay still steering the wheel. The China reopening trade was a fizzer, and so the S&P/ASX200 closed down 9 points or 0.13%. 

Our top three VODs:

Three stocks for a rising oil price

The travel stock Adam sold hours too early

Oreana: Asian equities the place to be as central banks come to grips with inflation

Hosted on Acast. See acast.com/privacy for more information.