Oil continues to slip after shortfall from Saudi attacks: Aus shares close 0.5% higher

Oil continues to slip after shortfall from Saudi attacks: Aus shares close 0.5% higher

 

It has been a positive day of trade for the Australian share market. After a rise at the open it manage to track sideways to close 0.5 per cent higher. Shares in Brickworks (ASX:BKW) rose, as did shares in Speedcast International (ASX:SDA) and Bega Cheese (ASX:BGA). Meanwhile shares in New Hope Corp (ASX:NHC), dropped along with Saracen Mineral Holdings (ASX:SAR). As for commodities, we are set to see oil fall again as global stockpiles are unlikely to cover the shortfall from the Saudi attacks earlier this week. As for the sectors, telcos led the way today with energy behind.

At the closing bell the S&P/ASX 200 index closed 36 points higher to finish at 6,718.

Futures

Dow futures are suggesting a fall of 47 points.
S&P 500 futures are eyeing a dip of 9 points.
The Nasdaq futures are eyeing a fall of 32 points.
And the ASX200 futures are eyeing a 0.5 per cent point rise for tomorrow. morning.

Economic news

The unemployment rate increased in August to 5.3 per cent, from a revised July 2019 figure, according to the latest information released by the Australian Bureau of Statistics (ABS). The rise in the jobless rate comes despite two rate cuts from the RBA in June and July.

Company news

Brickworks (ASX:BKW) today announced a record underlying Net Profit After Tax (NPAT) from continuing operations of $234 million, up 4 per cent on the prior year. Statutory NPAT was down 12 per cent to $155 million. This includes $19 million in costs related to diversified investment house, Washington H. Soul Pattinson and Company significant items in the second half. Underlying EBITDA from continuing operations was $346 million, up 12 per cent on the prior year. Shares in Brickworks (ASX:BKW) closed 6.4 per cent higher at $17.54.

Electro Optic Systems (ASX:EOS) reports that speculation in the Australian Financial Review regarding a capital raise in the near term is unfounded and incorrect. The company says it has had no discussion whatever with any party on the subject of capital raising.

Regenerative medicine company AVITA Medical (ASX:AVH) found that acne scars treated using dermabrasion healed more quickly on average with RECELL than without. The study was published in Aesthetic Plastic Surgery by the Department of Plastic Surgery at Peking Union Medical College Hospital.

The Board of Credit Corp Group (ASX:CCP) has appointed two new Non-Executive Directors, Trudy Vonhoff and John Nesbitt. Both Trudy and John bring extensive senior executive and board experience across a range of industries including banking and financial services.

Best and worst performers

The best performing sector was Communication Services adding 2.1 per cent while the worst performing sector was Energy shedding 0.2 per cent.

The best performing stock in the S&P/ASX 200 was Brickworks (ASX:BKW), rising 6.4 per cent to close at $17.54. Shares in Speedcast International (ASX:SDA) and Bega Cheese (ASX:BGA) followed higher.

The worst performing stock in the S&P/ASX 200 was New Hope Corp (ASX:NHC), dropping 3.97 per cent to close at $2.42. Shares in Pro Medicus (ASX:PME) and Saracen Mineral Holdings (ASX:SAR) followed lower.

Asian markets

Japan’s Nikkei has added 0.5 per cent, Hong Kong’s Hang Seng has lost 1.3 per cent and the Shanghai Composite is trading flat.

Commodities and the dollar

Gold is trading at US$1,497 an ounce.
Iron ore price fell 0.8 per cent to US$96.42.
Iron ore futures are pointing to a fall of 4.5 per cent.
Light crude is US$0.90 lower at US$58.20 a barrel.
One Australian dollar is buying 67.88 US cents.
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post