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    CWN   AU000000CWN6

CROWN RESORTS LIMITED

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Delayed Australian Stock Exchange  -  05/17 02:10:04 am EDT
12.81 AUD   +0.79%
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Australian shares rise on mining, energy boost; Crown Resorts soars

01/12/2022 | 07:17pm EDT

Jan 13 (Reuters) - Australian shares rose on Thursday, helped by mining and energy stocks on strong commodity prices, while troubled casino owner Crown Resorts surged about 9% to be among top gainers on the benchmark index after a sweetened offer from Blackstone.

The S&P/ASX 200 index rose 0.4% to 7,438.9 points by 2327 GMT, extending gains from the previous session.

Capping the gains was caution among investors after latest U.S. inflation data showed surging price pressures could reinforce bets that the Federal Reserve will soon be raising interest rates.

Crown Resorts' leap was its highest in more than seven months after U.S. investment giant Blackstone Inc's raised offer valued the company at A$8.87 billion ($6.46 billion).

Among indexes, miners led the gains with their jump of 1.8% to their highest level since mid-August last year. This was also their fifth straight day of advances.

Nickel Mines Ltd hit a record high, up as much as 4.2%, as nickel prices soared on supply fears.

The energy sub-index climbed 1.5% to its highest level in over two months as oil prices reached two-month highs.

Coal miner Whitehaven Coal Ltd and Beach Energy were up 3.5% and 4%, lifting the sub-index further.

Gold stocks gained for a third straight day, up 0.6%, as bullion prices strengthened over a weaker dollar.

Heavyweight financial shares also added 0.3%, with banking major Australia and New Zealand Banking Group Ltd rising 0.6%, while National Australia Bank Ltd was up 0.7%

Tech stocks, however, took a beating, losing 0.6%, even as its U.S. peers gained overnight.

New Zealand's benchmark S&P/NZX 50 index rose 0.2% to 12,824.32 points. In other markets, the tech-heavy Nasdaq gained 0.2% overnight, while the S&P 500 E-minis futures were up 2.75 points. ($1 = 1.3732 Australian dollars) (Reporting by Yamini C S; editing by Uttaresh.V)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BEACH ENERGY LIMITED 6.12% 1.735 Delayed Quote.29.76%
CROWN RESORTS LIMITED 0.79% 12.81 Delayed Quote.6.27%
NATIONAL AUSTRALIA BANK LIMITED 0.51% 31.48 Delayed Quote.8.60%
NICKEL MINES LIMITED 3.02% 1.195 Delayed Quote.-18.88%
ON SEMICONDUCTOR CORPORATION -1.83% 55.15 Delayed Quote.-18.80%
WHITEHAVEN COAL LIMITED 5.91% 5.2 Delayed Quote.88.12%
All news about CROWN RESORTS LIMITED
05/13Star Entertainment's two board members to step down in management overhaul amid probe
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Financials
Sales 2022 1 893 M 1 310 M 1 310 M
Net income 2022 -145 M -101 M -101 M
Net Debt 2022 542 M 375 M 375 M
P/E ratio 2022 -58,4x
Yield 2022 0,79%
Capitalization 8 607 M 5 957 M 5 957 M
EV / Sales 2022 4,83x
EV / Sales 2023 2,86x
Nbr of Employees 12 489
Free-Float 53,2%
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Technical analysis trends CROWN RESORTS LIMITED
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Last Close Price 12,71 AUD
Average target price 12,98 AUD
Spread / Average Target 2,08%
EPS Revisions
Managers and Directors
Steven B. McCann Chief Executive Officer, Director & MD
Alan McGregor Chief Financial Officer & Secretary
Zygmunt Edward Switkowski Independent Non-Executive Chairman
Steven J. Blackburn Chief Compliance & Financial Crimes Officer
Sarah Jane Halton Independent Non-Executive Director
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