- The ASX200 is trading 0.4% lower today at 7419.10 after lunch.
- PointsBet tanks 8% after releasing Q1 results with negative cash flow.
- Anz rallies after releasing FY21 results including $6.16bn in profit.
The Australian market is trading 0.4% lower at 7419.10 after lunchtime today following a turbulent session on Wall St overnight which was weighed down by the energy sector tumbling. On the ASX today, the Energy sector is also taking the biggest hit, trading more than 1.6% lower after lunch.
The tech sector is trading 0.5% lower today so far as Codan tumbles 5.02%, EML Payments sheds 2.17% and Afterpay trades 2.02% lower.
Bitcoin is trading 2.90% lower over the last 24-hours at US$58,853.09 at 1:15pm AEDT.
Australian-based online bookmaker PointsBet is tanking today after releasing a Q1 update. For the period, PointsBet reported turnover growth of 42% pcp to $979.9m, gross win margin of 11.9%, net win growth of 76% to $67.3m and cash active clients up 79% to 222,622 in Australia. Despite growth across a number of metrics, the company continues to spend cash at a fast rate, reporting negative cash flows of $38.1m.
Making headlines, Anz is rallying today after the banking giant released FY21 results. For the year, Anz reported a 72% jump in statutory profit after tax to $6.16bn, cash profit from continuing operations of $6.198bn, up 65% from the previous year, a dividend of 142c/share, up from 60c/share a year earlier and EPS up 65% to 218.30c/share.
And Canva founders Cliff Obrecht and Melanie Perkins have been named as Australia?s wealthiest millennials in the Financial Review Young Rich List for 2021