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    ORG   AU000000ORG5

ORIGIN ENERGY LIMITED

(ORG)
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Australia shares rise in lacklustre trade as investors avoid big bets

10/12/2020 | 01:33am EDT

(Corrects closing level to 0.5% and 6,132, not 0.4% and 6.126.60, in second paragraph)

* Caution about the fate of U.S. stimulus kept investors wary

* ASX benchmark propped up by tech, financials

* Further slide in oil prices dents energy stocks

Oct 12 (Reuters) - Australian shares closed marginally higher on Monday, with the technology index at a record high, although investors refused to make big bets awaiting hints on additional U.S. stimulus.

The S&P/ASX 200 index closed 0.5% higher at 6,132. The benchmark ended flat on Friday.

The U.S. markets will be closed on Monday on account of Columbus Day, but all eyes are on the likelihood of additional stimulus as the world's largest economy struggles to recover from coronavirus-related lockdowns that threw millions of Americans out of work.

"The U.S. will be closed Monday for a holiday, so we normally are very flat until we see some U.S. futures numbers to get a lead on the market direction," said Brad Smoling, managing director at Smoling Stockbroking.

On Sunday, the White House called on Congress to pass a stripped-down coronavirus relief bill, promising further negotiations on a comprehensive bill in the future.

The Democrats dismissed the proposal as "inadequate" - the latest twist in on-again, off-again talks to try to secure more stimulus.

"The stimulus game is still being played out in the U.S. right now and we don't know how big or small it will be. We are just assuming that it will be something," Smoling said.

Back home, the Australian technology index climbed as much as 2.9% to a record high.

Buy-now-pay-later firm Afterpay finished nearly 3% higher while Nearmap closed over 2% firmer.

The heavyweight financial sector gained 1% at close, with the so-called "Big Four" banks closing more than 1% higher.

Dragging the benchmark lower, the energy index finished 0.8% weaker, dented by a further slide in oil prices.

Whitehaven Coal ended about 6% lower, while Origin Energy Ltd lost 2%.

In New Zealand, the benchmark S&P/NZX 50 index finished 0.6% higher at 12,356.89.

Top gainers were Contact Energy Ltd up 3.2%, followed by Mercury NZ advancing 2.8%. (Reporting by Nikhil Subba in Bengaluru, Editing by Sherry Jacob-Phillips)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 6.45% 114.4 End-of-day quote.-3.05%
ASX LIMITED 0.05% 76 End-of-day quote.5.56%
CONTACT ENERGY LIMITED -0.61% 8.1 End-of-day quote.-9.09%
LONDON BRENT OIL 0.44% 73.22 Delayed Quote.41.20%
MERCURY NZ LIMITED 0.64% 6.3 End-of-day quote.-3.52%
NEARMAP LTD 3.79% 1.915 End-of-day quote.-13.74%
ORIGIN ENERGY LIMITED 1.67% 4.87 End-of-day quote.2.31%
S&P/ASX 200 0.13% 7368.9 Real-time Quote.11.87%
WHITEHAVEN COAL LIMITED 5.82% 1.91 End-of-day quote.16.11%
WTI 0.78% 71.41 Delayed Quote.47.13%
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Financials
Sales 2021 12 030 M 8 999 M 8 999 M
Net income 2021 119 M 89,4 M 89,4 M
Net Debt 2021 4 888 M 3 657 M 3 657 M
P/E ratio 2021 119x
Yield 2021 3,94%
Capitalization 8 576 M 6 419 M 6 415 M
EV / Sales 2021 1,12x
EV / Sales 2022 1,09x
Nbr of Employees 5 200
Free-Float 99,2%
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Technical analysis trends ORIGIN ENERGY LIMITED
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 5,35 AUD
Last Close Price 4,87 AUD
Spread / Highest target 37,6%
Spread / Average Target 9,84%
Spread / Lowest Target -21,1%
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Managers and Directors
NameTitle
Frank Calabria Chief Executive Officer, MD & Executive Director
Lawrence John Tremaine Chief Financial Officer
Scott Redvers Perkins Independent Non-Executive Chairman
Tony Lucas Executive GM-Future Energy & Technology
Greg Jarvis Executive GM-Energy Supply & Operations
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