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    AGL   AU000000AGL7

AGL ENERGY LIMITED

(AGL)
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Australia shares track Wall Street rally to open higher

03/22/2021 | 07:55pm EDT

* Export-reliant healthcare rises as Australian dollar weakens

* Rio Tinto forms indigenous advisory group, shares rise

* AGL Energy extends gains for third straight session

March 23 (Reuters) - Australian shares opened higher on Tuesday, with healthcare leading the gains, as the benchmark index tracked an overnight rally on Wall Street after U.S. technology stocks rebounded from a recent selloff sparked by surging bond yields.

The S&P/ASX 200 index was up 0.22% at 6,752.5 points by 2330 GMT. The index closed 0.7% higher on Monday.

The three major U.S. indexes rose between 0.3% and 1.2%, with the tech-heavy Nasdaq outpacing its peers. A climb in Treasury yields have being weighing on high-flying technology stocks since mid-February.

Shares of export-reliant healthcare stocks rose 1% as the Australian dollar weakened. A weaker local currency tends to help healthcare companies earning in U.S. dollars.

Medical devices maker Resmed Inc gained 1.7%, and drugmaker CSL Ltd was up 0.6%.

Technology stocks mirrored their Wall Street peers to rise 0.7%, with buy-now-pay-later company Afterpay and artificial intelligence firm Appen Ltd advancing 1.2% and 0.9%, respectively.

The mining sub-index was also trading higher, with heavyweights BHP Group and Rio Tinto Ltd gaining 1.4% and 0.6%, respectively.

Rio Tinto said on Tuesday it would form an indigenous advisory group to improve protocols to manage indigenous culture, months after destruction of a sacred heritage site for a mine.

Utility stocks advanced 1.4%, with power supplier AGL Energy extending gains for a third consecutive session.

The number of issues on the ASX that advanced were 703 while 441 declined.

New Zealand's benchmark S&P/NZX 50 index rose 0.5%, largely helped by gains among utility and industrial stocks.

(Reporting by Soumyajit Saha in Bengaluru, Editing by Sherry Jacob-Phillips)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 2.19% 86.35 End-of-day quote.-26.82%
AGL ENERGY LIMITED 0.47% 8.51 End-of-day quote.-28.79%
APPEN LIMITED -0.99% 11 End-of-day quote.-55.45%
ASX LIMITED 2.94% 74.51 End-of-day quote.3.49%
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) 0.10% 0.94092 Delayed Quote.-3.92%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) 0.62% 85.093 Delayed Quote.6.50%
AUSTRALIAN DOLLAR / NEW ZEALAND DOLLAR (AUD/NZD) -0.29% 1.07237 Delayed Quote.0.47%
AUSTRALIAN DOLLAR / SWISS FRANC (AUD/CHF) 0.14% 0.70068 Delayed Quote.2.78%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.73% 0.77796 Delayed Quote.0.37%
BHP GROUP -1.55% 49.57 End-of-day quote.16.83%
BRITISH POUND / AUSTRALIAN DOLLAR (GBP/AUD) -0.40% 1.81114 Delayed Quote.2.42%
CANADIAN DOLLAR / AUSTRALIAN DOLLAR (CAD/AUD) 0.00% 1.06279 Delayed Quote.4.06%
CSL LIMITED 0.06% 277.68 End-of-day quote.-1.94%
EURO / AUSTRALIAN DOLLAR (EUR/AUD) -0.21% 1.56032 Delayed Quote.-1.46%
NASDAQ COMP. 2.32% 13429.978403 Delayed Quote.4.20%
RIO TINTO PLC -2.68% 6135 Delayed Quote.12.16%
S&P/ASX 200 0.45% 7014.2 Real-time Quote.6.48%
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Financials
Sales 2021 11 169 M 8 689 M 8 689 M
Net income 2021 -2 090 M -1 626 M -1 626 M
Net Debt 2021 3 079 M 2 396 M 2 396 M
P/E ratio 2021 -2,52x
Yield 2021 9,43%
Capitalization 5 302 M 4 122 M 4 125 M
EV / Sales 2021 0,75x
EV / Sales 2022 0,75x
Nbr of Employees 3 988
Free-Float 94,2%
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Technical analysis trends AGL ENERGY LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Average target price 10,56 AUD
Last Close Price 8,51 AUD
Spread / Highest target 76,3%
Spread / Average Target 24,1%
Spread / Lowest Target -17,7%
EPS Revisions
Managers and Directors
NameTitle
Graeme P. Hunt Chief Executive Officer & Managing Director
Damien Nicks Chief Financial Officer
Peter Robert Botten Chairman
John Chambers Executive GM-Future Business & Technology
Markus Brokhof Chief Operating Officer
Sector and Competitors
1st jan.Capitalization (M$)
AGL ENERGY LIMITED-28.79%4 122
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ELECTRICITÉ DE FRANCE-7.99%44 630
SEMPRA ENERGY8.10%41 814
ENGIE1.31%37 207
E.ON SE16.86%33 520