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SANTOS LIMITED

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Delayed Australian Stock Exchange  -  02:11 2022-08-12 am EDT
7.180 AUD   +0.84%
08/12Australian states press for gas exporters to boost local supply
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08/12Australian shares end lower as miners, tech stocks weigh
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08/11Banks, miners drag Australian shares lower
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Australian shares end lower ahead of RBA policy meeting

06/06/2022 | 02:56am EDT

June 6 (Reuters) - Australian shares closed lower on Monday, dragged by tech and gold stocks, with investors now eyeing the Reserve Bank of Australia's policy meeting where it is expected to raise interest rates.

The S&P/ASX 200 index ended 0.45% lower at 7,206.3. The benchmark had risen 0.8% on Friday and marked a third straight weekly gain.

Ahead of the RBA's meeting on June 7, financial stocks dropped 0.6%, with the so-called "Big Four" banks declining nearly 1% each.

"There is a bit of caution in the market because of the likely rate hike in Australia tomorrow," said Steven Daghlian, a market analyst at CommSec.

The central bank is expected to hike rates by a modest 25 basis points (bps) for a second straight meeting, a Reuters poll of economists showed, while nearly a third of the respondents predicted a larger 40 bps hike.

A 40 bps point rate hike "could have little bit of a weight on the market, it could cause the Aussie dollar to be a bit high potentially," Daghlian said.

Among individual shares and sectors, the technology sub-index led losses on the benchmark with its 1.6% slide. ASX-listed shares of Block Inc fell as much as 3.8%.

Weak bullion prices knocked out 1.4% from gold stocks , with country's largest gold miner Newcrest Mining losing as much as 0.9%.

Local energy stocks, however, limited losses on the benchmark. The index jumped 2.1% to hit a more than two-year high on firmer oil prices.

Santos climbed as much as 1.6% to hit an over two-year high after the gas producer said on Sunday it is taking steps, along with its joint venture partner Beach Energy , to increase domestic supply of the energy resource.

In New Zealand, the benchmark S&P/NZX 50 index was closed for a public holiday. (Reporting By Navya Mittal in Bengaluru; editing by Uttaresh.V)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.00% 0.7121 Delayed Quote.-2.20%
BEACH ENERGY LIMITED 3.06% 1.85 Delayed Quote.46.83%
BLOCK, INC. 2.28% 87.95 Delayed Quote.-45.55%
LONDON BRENT OIL -1.47% 97.84 Delayed Quote.27.42%
NAVYA 1.23% 0.3796 Real-time Quote.-81.57%
NEWCREST MINING LIMITED -1.14% 19.11 Delayed Quote.-21.94%
S&P/ASX 200 -0.54% 7032.5 Real-time Quote.-5.54%
SANTOS LIMITED 0.84% 7.18 Delayed Quote.13.79%
WTI -2.31% 91.866 Delayed Quote.24.73%
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Analyst Recommendations on SANTOS LIMITED
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Financials (USD)
Sales 2022 8 203 M - -
Net income 2022 2 661 M - -
Net Debt 2022 3 490 M - -
P/E ratio 2022 6,07x
Yield 2022 5,07%
Capitalization 17 063 M 17 063 M -
EV / Sales 2022 2,51x
EV / Sales 2023 2,60x
Nbr of Employees 3 786
Free-Float 91,1%
Chart SANTOS LIMITED
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Technical analysis trends SANTOS LIMITED
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Last Close Price 5,10 $
Average target price 6,63 $
Spread / Average Target 30,0%
EPS Revisions
Managers and Directors
Kevin Thomas Gallagher Chief Executive Officer, MD & Executive Director
Anthea Mckinnell Chief Financial Officer
Keith William Spence Non-Executive Chairman
David Banks Chief Operating Officer
Hock Goh Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
SANTOS LIMITED13.79%17 063
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EQUINOR ASA51.63%119 307