Stocks of the Hour: NAB, Origin Energy & PointsBet

Company News

by Lauren Evans

NAB (ASX:NAB) intends to buyback up to $2.5 billion of its ordinary shares to manage its capital against assets ratio. The buyback is expected to commence in August this year. Shares in National Australia Bank (ASX:NAB) are trading 1.01 per cent higher at $26.03.

Online wagering platform PointsBet (ASX:PBH), successfully completed a $215.1 million placement, supported by institutional investors. The placement includes over 21 million new shares at $10.00 per share. Shares in PointsBet Holdings (ASX:PBH) last traded at $11.29.

Origin Energy (ASX:ORG) noted a slight comeback in commodity revenue, despite an overall 35 per cent decline in FY21. For the June quarter 2021, commodity revenue increased 19 per cent from the March quarter, driven by higher oil prices and domestic volumes. Shares in Origin Energy (ASX:ORG) are trading 7.7 per cent lower at $4.12.

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