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    MEL   NZMELE0002S7


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

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

10/19/2020 | 02:04am EDT

* 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 0.44% 77.67 End-of-day quote.7.88%
COCHLEAR LIMITED 0.60% 246.07 End-of-day quote.30.20%
CSL LIMITED 1.47% 293.48 End-of-day quote.3.64%
MERIDIAN ENERGY LIMITED -1.21% 5.285 End-of-day quote.-28.77%
S&P/ASX 200 0.11% 7394.4 Real-time Quote.12.26%
SERKO LIMITED 0.67% 7.55 End-of-day quote.30.40%
SOUTH32 LIMITED 1.03% 2.95 End-of-day quote.19.43%
07/22CONTACT ENERGY : Meridian Energy to Build World's Largest Green Hydrogen Plant i..
07/21New Zealand Power Companies Propose Large Hydrogen Export Investment
07/18Meridian Energy Limited Announces Board Changes
07/01MERIDIAN ENERGY : S&P Affirms Meridian Energy's Corporate Credit Rating at BBB+
06/15Australian shares edge up on energy, banking gains; Fed meeting eyed
06/14Meridian Energy Limited Reports Operating Results for the Month and Year to D..
06/13MERIDIAN ENERGY : Monthly National Hydro Storage Rises to 70% of Historial Avera..
06/13MERIDIAN ENERGY : New Zealand shares rise, with power companies top gainers
06/07Meridian Energy Looks to Sell Australia Electricity Business
05/31MERIDIAN ENERGY : New Zealand Aluminium Smelters Extends Suspension of Potline 4..
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Sales 2021 3 966 M 2 764 M 2 764 M
Net income 2021 252 M 176 M 176 M
Net Debt 2021 1 511 M 1 053 M 1 053 M
P/E ratio 2021 49,6x
Yield 2021 3,21%
Capitalization 13 541 M 9 448 M 9 438 M
EV / Sales 2021 3,80x
EV / Sales 2022 4,43x
Nbr of Employees 1 031
Free-Float 48,9%
Duration : Period :
Meridian Energy Limited Technical Analysis Chart | MEL | NZMELE0002S7 | MarketScreener
Technical analysis trends MERIDIAN ENERGY LIMITED
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 6
Last Close Price 5,29 NZD
Average target price 5,21 NZD
Spread / Average Target -1,39%
EPS Revisions
Managers and Directors
Neal Anthony Barclay Chief Executive Officer
Michael John Roan Chief Financial Officer
Mark John Verbiest Chairman
Peter David Wilson Deputy Chairman
Anake Angus Murray Goodall Independent Non-Executive Director