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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Coca-Cola Amatil Limited    CCL   AU000000CCL2

COCA-COLA AMATIL LIMITED

(CCL)
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Australia shares rise on easing virus worries, Coca-Cola Amatil deal

10/25/2020 | 07:54pm EST

* Victoria state reports zero new cases in 24 hours

* Coca-Cola Amatil stock top gainer on benchmark

* Westpac drags financial stocks

* NZ markets closed for a holiday

Oct 26 (Reuters) - Australian shares rose on Monday as COVID-19 hotspot Victoria reported zero new cases for the first time in four months and Coca-Cola Amatil received a $6.6 billion buyout bid.

Gains in healthcare and tech stocks helped the S&P/ASX 200 index firm 0.4% to 6,190.10 by 0049 GMT.

Victoria state has now gone 24 hours without detecting any new COVID-19 cases, a milestone last achieved four months ago, raising hopes that a stringent lockdown of Melbourne will be eased.

The state's Premier Daniel Andrews on Sunday had delayed the reopening of the city which went under a lockdown in July, even as businesses argued for the need to reopen the economy.

Meanwhile, Coca-Cola Amatil Ltd surged 16% to see its best day in over a decade and top the benchmark after Coca-Cola European Partners offered to buy the Australian bottler, in what would be the country's biggest deal this year.

Coca-Cola's jump also pushed consumer stocks 2% higher. The index marked its best session in nearly three weeks.

Aiding sentiment were signs of U.S. stimulus talks gathering momentum after House Speaker Nancy Pelosi reiterated the need for a round of aid as soon as possible and said the President Donald Trump's administration was reviewing the latest plans.

Among other individual shares and sectors, the tech index rose 2.1%. Software maker WiseTech Global Ltd, jumped 3.3% and Bravura Solutions Ltd added 2.8%.

Healthcare stocks gained 1.1%, benefiting from firmness in the greenback as the United States is a top export destination for the companies.

Biotech major CSL Ltd jumped 1.6%, rising the most on the sub-index.

The heavyweight financial index slipped, with Westpac Banking Corp shares falling 0.9% after it revealed it would book a $870.4 million hit in second-half results.

Markets in New Zealand were closed for a holiday. (Reporting by Anushka Trivedi in Bengaluru; editing by Uttaresh.V)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BRAVURA SOLUTIONS LIMITED -3.76% 3.33 End-of-day quote.-35.96%
COCA-COLA AMATIL LIMITED 0.47% 12.73 End-of-day quote.15.10%
CSL LIMITED -1.16% 296.26 End-of-day quote.7.43%
S&P/ASX 200 0.38% 6615.3 Real-time Quote.-1.43%
WESTPAC BANKING CORPORATION 0.10% 20.3 End-of-day quote.-16.22%
WISETECH GLOBAL LIMITED -3.50% 30.84 End-of-day quote.31.96%
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More news
Financials
Sales 2020 4 741 M 3 519 M 3 519 M
Net income 2020 202 M 150 M 150 M
Net Debt 2020 1 335 M 991 M 991 M
P/E ratio 2020 42,4x
Yield 2020 2,15%
Capitalization 9 217 M 6 804 M 6 841 M
EV / Sales 2020 2,23x
EV / Sales 2021 2,06x
Nbr of Employees 12 000
Free-Float 68,6%
Chart COCA-COLA AMATIL LIMITED
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Coca-Cola Amatil Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends COCA-COLA AMATIL LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Average target price 12,39 AUD
Last Close Price 12,73 AUD
Spread / Highest target 0,16%
Spread / Average Target -2,64%
Spread / Lowest Target -14,7%
EPS Revisions
Managers
NameTitle
Alison Mary Watkins Group Managing Director & Executive Director
Ilana Rachel Atlas Chairman
Greg Barnes Chief Financial Officer
Debbie Nova Chief Information Officer
Krishnakumar Thirumalai Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
COCA-COLA AMATIL LIMITED15.10%6 804
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SUNTORY BEVERAGE & FOOD LIMITED-15.29%11 379
COCA-COLA HBC AG-12.90%10 859
TINGYI (CAYMAN ISLANDS) HOLDING CORP.-2.71%9 389