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    WAF   AU000000WAF6

WEST AFRICAN RESOURCES LIMITED

(WAF)
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Miners, financials help Australia shares snap two-day loss

09/29/2021 | 09:33pm EST

Sept 30 (Reuters) - Australia shares snapped a two-session loss to advance more than 1% on Thursday, with heavyweight miners and financials boosting the benchmark, as stock indices in the United States and Europe made a partial recovery from a heavy sell-off.

The S&P/ASX 200 index was up 1.1% at 7,274.30, as of 0047 GMT. However, the benchmark was on track to post its first quarterly loss since September 2020 quarter.

Investors sought to staunch the bleeding after world stock markets on Wednesday suffered their worst rout since January even as they were looking out for remarks from U.S. Reserve Chairman Jerome Powell and the ongoing debt ceiling debate.

Australia-listed finanicals rose 1.5%, led by shares of Zip Co, which were on track for their best session in more than a month after the buy-now-pay-later company entered an agreement with Microsoft for the U.S. market.

The "Big Four" banks gained between 1.8% and 1.6%

Miners were up 0.7%, posting partial rebounds from losses earlier this week with Piedmont Lithium rising 5.1% to lead gains in the index.

Shares of South32 scaled to their highest level in a week after the diversified miner said it will exercise the right to buy a 25% stake in Mozambique-based Mozal Aluminium for $250 million.

Gold stocks bucked the trend to fall 0.7% as bullion prices eased with a firmer dollar making the metal more expensive for holders of other currencies. West African and De Grey Mining were top gainers in the index, advancing 3.2% and 2.2%, respectively.

Elsewhere, Japan's Nikkei was up 0.06% at 29,563.07 points while S&P 500 E-mini futures were up 0.4%

Across the Tasman sea, New Zealand's benchmark S&P/NZX 50 index rose 0.8% to 13,230.10 points with healthcare and real estate stocks leading gains in the bechmark index. (Reporting by Tejaswi Marthi in Bengaluru; Editing by Sherry Jacob-Phillips)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DE GREY MINING LIMITED -3.32% 1.165 End-of-day quote.14.78%
MICROSOFT CORPORATION -0.15% 330.08 Delayed Quote.48.40%
SOUTH32 LIMITED 3.97% 3.67 End-of-day quote.48.58%
WEST AFRICAN RESOURCES LIMITED -0.77% 1.295 End-of-day quote.23.92%
ZIP CO LIMITED -2.32% 5.05 End-of-day quote.-4.54%
All news about WEST AFRICAN RESOURCES LIMITED
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Financials
Sales 2021 691 M 492 M 492 M
Net income 2021 217 M 155 M 155 M
Net Debt 2021 7,06 M 5,02 M 5,02 M
P/E ratio 2021 5,48x
Yield 2021 -
Capitalization 1 322 M 944 M 940 M
EV / Sales 2021 1,92x
EV / Sales 2022 2,37x
Nbr of Employees 375
Free-Float 88,6%
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Technical analysis trends WEST AFRICAN RESOURCES LIMITED
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Mean consensus BUY
Number of Analysts 2
Last Close Price 1,30 AUD
Average target price 1,80 AUD
Spread / Average Target 39,0%
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Managers and Directors
Richard Hyde Executive Chairman & Chief Executive Officer
Padraig O'Donoghue Chief Financial Officer & Secretary
Lyndon George Hopkins Chief Operating Officer & Executive Director
Rodney Lloyd Leonard Lead Independent Director
Nigel Spicer Independent Non-Executive Director
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