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    BPT   AU000000BPT9

BEACH ENERGY LIMITED

(BPT)
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Delayed Quote. Delayed Australian Stock Exchange - 05/20 02:10:07 am
1.61 AUD   -2.72%
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Australia shares end higher as tech, bank stocks gain

11/04/2021 | 01:03am EDT

* NIB Holdings top gainer on ASX

* Energy index down 2%

* Tech stocks up 1.2%

Nov 4 (Reuters) - Australian shares ended higher on Thursday as gains in banks and tech stocks offset a slide in energy heavyweights, while the U.S. Federal Reserve's plan to taper its bond purchases also boosted sentiment.

The S&P/ASX 200 index rose 0.5% to 7,428 points at the close of trade. The benchmark climbed 0.9% on Wednesday.

Major indexes on Wall Street clocked strong gains after the United States Federal Reserve said it would begin trimming its monthly bond purchases in November, with plans to end them in 2022.

That led the tech stocks to rise 1.2%, with Appen gaining 3.2% to lead gains on the index.

"Currently, investors can be satisfied that the Fed seems to be in no rush to get rid of the policy punch bowl," said Kunal Sawhney, CEO of equities research firm Kalkine Group. He added that changes in the economic outlook could prompt central banks to modify plans.

Gold stocks rose 0.5% on stronger bullion, while financials added 1% as Australia's 'Big Four' banks advanced between 0.2% and 1.4%.

Insurer NIB Holdings led gains on both the benchmark index and financial index, rising 5.8%, as its premium revenue rose in the first quarter.

Investors seemed to shrug off data from the Australian Bureau of Statistics, which showed that the country's retail sales for the third quarter fell 4.4% and also missed a Reuters poll.

"A rebound is now evidently underway, given the high rates of vaccination that is propelling the Australian economy to reopen," Sawhney said.

Energy stocks fell 2%, their worst session in over six weeks, following a slump in oil prices on concerns over increased global supply.

Beach Energy fell 5.2%, while Worley lost 3.2%.

New Zealand's benchmark S&P/NZX 50 index fell 0.4% to finish the session at 12,943.94 points. (Reporting by Tejaswi Marthi in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APPEN LIMITED 1.97% 6.72 Delayed Quote.-39.78%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.13% 0.7032 Delayed Quote.-3.01%
BEACH ENERGY LIMITED -2.72% 1.61 Delayed Quote.27.78%
BRITISH POUND / US DOLLAR (GBP/USD) 0.19% 1.24866 Delayed Quote.-7.89%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.17% 0.7783 Delayed Quote.-1.43%
EURO / US DOLLAR (EUR/USD) -0.11% 1.0548 Delayed Quote.-6.97%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.59% 0.012844 Delayed Quote.-3.79%
LONDON BRENT OIL 0.94% 112.54 Delayed Quote.42.93%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.38% 0.64048 Delayed Quote.-6.67%
NIB HOLDINGS LIMITED 0.28% 7.17 Delayed Quote.2.28%
S&P 500 0.01% 3901.36 Real-time Quote.-18.14%
S&P/ASX 200 1.15% 7145.6 Real-time Quote.-4.02%
WORLEY LIMITED 1.03% 14.78 Delayed Quote.39.04%
WTI 1.22% 110.515 Delayed Quote.44.84%
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Analyst Recommendations on BEACH ENERGY LIMITED
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Financials
Sales 2022 1 706 M 1 199 M 1 199 M
Net income 2022 513 M 361 M 361 M
Net Debt 2022 20,1 M 14,1 M 14,1 M
P/E ratio 2022 7,12x
Yield 2022 1,32%
Capitalization 3 670 M 2 579 M 2 579 M
EV / Sales 2022 2,16x
EV / Sales 2023 1,93x
Nbr of Employees 483
Free-Float 65,3%
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Beach Energy Limited Technical Analysis Chart | BPT | AU000000BPT9 | MarketScreener
Technical analysis trends BEACH ENERGY LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 1,61 AUD
Average target price 1,96 AUD
Spread / Average Target 21,9%
EPS Revisions
Managers and Directors
Morné Engelbrecht Chief Executive Officer
Anne-Marie Barbaro General Manager-Finance
Glenn Stuart Davis Non-Executive Director
Ian Grant Chief Operating Officer
Colin David Beckett Independent Non-Executive Deputy Chairman
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