Stocks of the Hour: AMP, ANZ & Ampol

Company News

by Lauren Evans

Financial services provider AMP (ASX:AMP) expects to recognise additional impairment charges of around $325 million after tax in its 2021 financial year results. The impairments are expected to have an impact on capital of around $220 million. Shares in AMP (ASX:AMP) are trading 3.8 per cent lower at $1.00.

ANZ (ASX:ANZ) has acknowledged that Australian Securities and Investments Commission (ASIC) has commenced proceedings relating to three unlicensed third parties providing home loan application documents to ANZ lenders, including in connection with its home loan introducer program. Shares in ANZ (ASX:ANZ) are trading 0.7 per cent lower at $27.08.

Ampol (ASX:ALD) has priced an offering of $500 million subordinated notes due in 2081 to wholesale investors in the domestic fixed income market. The petroleum giant said the subordinated notes are an effective long term source of capital. Shares in Ampol (ASX:ALD) are trading 3.5 per cent lower at $29.17.

Click on the ASX code and company for the full story

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.