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ASX 200 down 0.35%: Ramsay Q1 update, NEXTDC’s international expansion, gold miners surge

NEXTDC Ltd (ASX:NXT) and Ramsay Health Care Limited (ASX:RHC) shares are on the move on the ASX 200 on Friday…
The post ASX 200 down 0.35%: Ramsay Q1 update, NEXTDC’s international expansion, gold miners surge appeared first on Motley Fool Australia. –

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At lunch on Friday the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decline. The benchmark index is currently down 0.35% to 6,395 points.

Here’s what is happening on the market today:

Ramsay Q1 update.

The Ramsay Health Care Limited (ASX: RHC) share price has dropped lower following the release of its first quarter update. That update revealed that Ramsay Australia reported a 1.5% increase in total revenue during the first quarter. This reflects a 1.7% increase in surgical admissions and lower non-surgical activity. However, its earnings have fallen due to restricted surgical activity in Victoria, increased costs, and reduced procurement benefits as a result of operating in a COVID safe environment.

NEXTDC annual general meeting.

The NEXTDC Ltd (ASX: NXT) share price is trading lower following the release of its annual general meeting update. At the meeting, the data centre operator reaffirmed its guidance for FY 2021. NEXTDC expects data centre services revenue of $242 million to $250 million and underlying EBITDA of $125 million to $130 million. This will be up 21% to 25% and 20% to 24% year on year, respectively. Management also revealed that it is looking to expand into Singapore and Japan.

Gold miners surge higher.

Gold miners including Evolution Mining Ltd (ASX: EVN) and Saracen Mineral Holdings Limited (ASX: SAR) are surging higher on Friday after a solid rebound in the gold price overnight. The buying has been so strong today that the S&P/ASX All Ordinaries Gold index is up 3.8% at lunch. The price of the precious metal increased amid concerns over the impact that rising COVID-19 cases could have on the global economy.

Best and worst ASX 200 performers.

The GrainCorp Ltd (ASX: GNC) share price is the best performer on the ASX 200 today with a gain of almost 8%. This follows a positive response to yesterday’s full year results by brokers this morning. Morgans has upgraded its shares to an add rating with a $4.79 price target. The worst performer on the ASX 200 has been the Vicinity Centres (ASX: VCX) share price with a 3.5% decline. This comes the day after the shopping centre operator’s annual general meeting.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia has recommended Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post ASX 200 down 0.35%: Ramsay Q1 update, NEXTDC’s international expansion, gold miners surge appeared first on Motley Fool Australia.

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