Stocks of the Hour: Ampol, BHP & IAG

Company News

by Lauren Evans

Petrol and diesel supplier Ampol (ASX:ALD), has provided an update on the performance of the Lytton oil refinery for Q2 2021. The Lytton refiner margin (LRM) for Q2 was US $6.29 per barrel, higher than the US $5.48 per barrel in the first quarter. However, it remains below historical averages. Shares in Ampol (ASX:ALD) are trading 2.7 per cent lower at $27.78.

Mining giant BHP (ASX:BHP) has announced a record production achieved at Western Australia Iron Ore (WAIO) and Goonyella. Olympic Dam achieved both the highest annual copper production since its acquisition by BHP in 2005 and the highest gold production ever for the operation. Shares in BHP Group (ASX:BHP) are trading 2.4 per cent lower at $49.28.

Insurance provider IAG (ASX:IAG) has commenced the sales process to divest its interest in its Malaysian venture, AmGeneral Holdings, the general insurance arm of AmBank Group, for a deal that could be valued at $340 million. Shares in Insurance Australia Group (ASX:IAG) are trading 0.1 per cent lower at $4.83.

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