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    LNK   AU000000LNK2

LINK ADMINISTRATION HOLDINGS LIMITED

(LNK)
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Australian shares hit record high on economic growth cheer

06/02/2021 | 08:49pm EDT

June 3 (Reuters) - Australian shares hit a record high on Thursday, extending gains made from the country's stronger-than-expected first-quarter economic growth data, with high commodity prices lifting the resource-heavy benchmark index further.

The ASX 200 index climbed 0.6% to 7,261.00 by 0026 GMT, after having closed 1.1% higher on Wednesday.

Sentiment was buoyant from Australia's solid economic growth data on Wednesday that showed output had returned to pre-COVID-19 levels, while the energy and gold indexes jumped on firmer commodity prices.

The energy index climbed nearly 2% to gain most on the benchmark and to its highest since April 16, as oil prices hit a more than 1-year high on OPEC+ decision to stick with its plan to ease supply cuts through July.

Natural gas majors Woodside Petroleum and Santos Ltd added 2.3% each.

Financial stocks followed suit, rising 0.7%, with the "big four" banks gaining between 0.7% and 1%.

Miners added 0.7% to hit their highest in two weeks as iron ore prices jumped on hopes of easing production curbs for steel products.

Tech stocks tracked Nasdaq higher to rise 0.5%.

Gold stocks advanced 0.8% as bullion inched up, with Red 5 Ltd gaining 2.9% to be the best performer.

In New Zealand, the benchmark S&P/NZX 50 index traded up 0.5% to 12,446.680.

In other markets, Japan's Nikkei was up 0.6% at 29,107.57, while the S&P 500 E-minis futures were up 4.5 points, or 0.11%. (Reporting by Yamini C S in Bengaluru; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FONTERRA SHAREHOLDERS FUND 1.88% 3.8 End-of-day quote.-13.24%
LINK ADMINISTRATION HOLDINGS LIMITED -0.62% 4.79 End-of-day quote.-13.69%
RED 5 LIMITED 0.00% 0.19 End-of-day quote.-26.92%
SANTOS LIMITED -1.97% 6.46 End-of-day quote.3.03%
WOODSIDE PETROLEUM LTD -1.30% 22.05 End-of-day quote.-3.03%
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Financials
Sales 2021 1 192 M 877 M 877 M
Net income 2021 37,8 M 27,8 M 27,8 M
Net Debt 2021 878 M 646 M 646 M
P/E ratio 2021 78,4x
Yield 2021 2,19%
Capitalization 2 569 M 1 897 M 1 890 M
EV / Sales 2021 2,89x
EV / Sales 2022 2,74x
Nbr of Employees 7 000
Free-Float 96,3%
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Number of Analysts 8
Last Close Price 4,79 AUD
Average target price 5,80 AUD
Spread / Average Target 21,2%
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Managers and Directors
Vivek Bhatia Chief Executive Officer, MD & Director
Andrew MacLachlan Chief Financial Officer
Michael Carapiet Independent Chairman
Paul Martin Gardiner Chief Technology & Operations Officer
Glen F. Boreham Independent Non-Executive Director
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