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    AST   AU000000AST5

AUSNET SERVICES LTD

(AST)
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Australian shares recoup losses, end higher on energy boost

09/21/2021 | 03:19am EDT

* Energy stocks lead gains in AXJO

* AusNet scales record high

* Miners snap four-day losing streak

Sept 21 (Reuters) - Australian shares closed higher on Tuesday, boosted by energy stocks, although gains were capped by weakness in global markets over fears of a potential debt default by China Evergrande Group.

The S&P/ASX 200 index, which dropped as much as 0.8% during the session, closed 0.4% higher at 7,273.8. The benchmark index had dropped more than 2% on Monday to record its worst day in seven months.

Energy stocks added nearly 1.5% — their best session in a week — as oil prices jumped on signs of U.S. supply tightness.

Major oil and gas explorer Santos Ltd advanced 1.1%, while peer Woodside Petroleum closed 1.7% higher.

Heavyweight miners snapped a four-day losing streak and rose 0.3%, with world's largest miner BHP Group Ltd adding 0.6%.

Gold stocks, which fell in the last three sessions, gained even after bullion prices weakened.

Keeping gains in check were global worries that the impact of indebted developer China Evergrande could ripple across the world economy and markets.

Back home, the Australian central bank is concerned that the spread of the Delta coronavirus variant could slow the economy's recovery once lockdowns ease, although it still expects strong growth to resume next year.

AusNet Services Ltd soared nearly 10% to hit a record high, while APA Group touched an 18-month low.

APA Group made a revised bid of A$9.96 billion ($7.22 billion) for AusNet, intensifying a battle with Canada's Brookfield Asset Management to acquire the energy infrastructure firm.

New Zealand's benchmark S&P/NZX 50 index closed flat at 13,176.94. (Reporting by Harish Sridharan in Bengaluru; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APA GROUP 0.36% 8.38 End-of-day quote.-13.16%
AUSNET SERVICES LTD 1.21% 2.5 End-of-day quote.42.45%
BHP GROUP -1.70% 37.02 End-of-day quote.-12.75%
BROOKFIELD ASSET MANAGEMENT INC. 1.75% 76.32 Delayed Quote.44.26%
SANTOS LIMITED -1.94% 7.09 End-of-day quote.13.08%
WOODSIDE PETROLEUM LTD -2.47% 23.67 End-of-day quote.4.09%
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Financials
Sales 2022 1 923 M 1 450 M 1 450 M
Net income 2022 266 M 201 M 201 M
Net Debt 2022 8 316 M 6 271 M 6 271 M
P/E ratio 2022 36,3x
Yield 2022 3,88%
Capitalization 9 568 M 7 225 M 7 215 M
EV / Sales 2022 9,30x
EV / Sales 2023 9,31x
Nbr of Employees 1 500
Free-Float 75,8%
Chart AUSNET SERVICES LTD
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Technical analysis trends AUSNET SERVICES LTD
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 7
Last Close Price 2,50 AUD
Average target price 2,23 AUD
Spread / Average Target -11,0%
EPS Revisions
Managers and Directors
Tony Narvaez Managing Director & Executive Director
Mark Ellul Chief Financial Officer
Peter Mason Independent Chairman
Keith Hopkins Chief Digital Officer & Executive GM-Technology
Prue Crawford-Flett Executive General Manager-Network Operations
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