Business
ASX shakes US-China blues, gains 1.2% to two-month high – The Sydney Morning Herald
Australian shares gained as much as 1.2% on Tuesday to reach its highest mark since early June, even as US-China tensions simmer.
AGL gained 1.4 per cent to $17.04 on Monday and has returned to that price this morning.
The Citi team is forecasting post-tax profit of $827 million for AGL, slightly higher than consensus estimates of $807 million, but within the companys own guidance of between $700 million and $860 million.
Look for the potential for buybacks as a positive surprise (not in our forecasts). In the absence of buy backs, we look for capital allocation priorities as the balance sheet headroom will be considera…
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