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MarketScreener Homepage  >  Equities  >  New Zealand Stock Exchange  >  Meridian Energy Limited    MEL   NZMELE0002S7

MERIDIAN ENERGY LIMITED

(MEL)
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Australia shares end at over 7-mth high as restrictions ease in Victoria

10/19/2020 | 02:04am EST

* ASX at over seven-month high

* Easing restrictions in Victoria lift sentiment

* South32 marks best day since Aug. 21

Oct 19 (Reuters) - Australian shares ended at their highest in more than seven months on Monday after the state of Victoria, the country's coronavirus outbreak epicentre, eased months-long movement restrictions.

Driven by gains in financial and healthcare stocks, the S&P/ASX 200 index gained 0.9% to 6,229.40 - its highest since March 6.

Victoria, Australia's second-most populous state, will see more freedom of movement as of Monday, with the state government eyeing the reopening of restaurants and retail stores by Nov. 1.

"In terms of economic recovery, the first step is obviously (to) get the economy moving again and that involves scaling back restrictions," said James Tao, market analyst at CommSec. The heavyweight financial index climbed 1.2%, with all the "Big Four" banks finishing higher.

"The possible increase in positive business conditions translates into less pressure on the financials," said Brad Smoling, managing director at Smoling Stockbroking.

Global sentiment also improved after U.S. House Speaker Nancy Pelosi raised hopes that a coronavirus relief package could be passed before the presidential election.

Data released earlier on Monday showed China's economic recovery accelerated in the third quarter, but missed expectations. Strong monthly figures, however, pointed to an expansion in economic activity.

The data from China is "still a pretty decent number considering you've got basically every other major economy in the world going backwards ... and by some margin as well," CommSec's Tao said.

Healthcare stocks gained 1.6% to close at a near two-month high, propped up by a 1.7% rise in CSL and a 2.2% climb in Cochlear.

Miner South32 posted its biggest one-day percentage gain since Aug. 21 after posting a 3.2% rise in quarterly manganese ore production.

In New Zealand, the benchmark S&P/NZX 50 index, slipped 0.4% to 12,385.25.

The top losers were Meridian Energy Ltd, down 3.54%, followed by Serko Ltd, losing 3.27%. (Reporting by Nikhil Subba in Bengaluru; Editing by Aditya Soni)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASX LIMITED -0.17% 77.11 End-of-day quote.-1.66%
COCHLEAR LIMITED -0.81% 220.42 End-of-day quote.-1.92%
CSL LIMITED -1.85% 297.38 End-of-day quote.7.84%
MERIDIAN ENERGY LIMITED 0.16% 6.44 End-of-day quote.28.80%
S&P/ASX 200 1.08% 6588.5 Real-time Quote.-2.49%
SERKO LIMITED -2.19% 5.36 End-of-day quote.8.28%
SOUTH32 LIMITED -2.44% 2.4 End-of-day quote.-11.11%
All news about MERIDIAN ENERGY LIMITED
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More news
Financials
Sales 2021 3 290 M 2 313 M 2 313 M
Net income 2021 259 M 182 M 182 M
Net Debt 2021 1 529 M 1 075 M 1 075 M
P/E ratio 2021 63,3x
Yield 2021 2,64%
Capitalization 16 473 M 11 561 M 11 584 M
EV / Sales 2021 5,47x
EV / Sales 2022 6,27x
Nbr of Employees 1 031
Free-Float 48,9%
Chart MERIDIAN ENERGY LIMITED
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Meridian Energy Limited Technical Analysis Chart | MEL | NZMELE0002S7 | MarketScreener
Technical analysis trends MERIDIAN ENERGY LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 6
Average target price 4,78 NZD
Last Close Price 6,44 NZD
Spread / Highest target -14,6%
Spread / Average Target -25,8%
Spread / Lowest Target -42,5%
EPS Revisions
Managers
NameTitle
Neal Anthony Barclay Chief Executive Officer
Mark John Verbiest Chairman
Michael John Roan Chief Financial Officer
Peter David Wilson Deputy Chairman
Anake Angus Murray Goodall Independent Non-Executive Director
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