All sectors close in positive territory: ASX closed 0.5% higher

08Oct

All sectors close in positive territory: ASX closed 0.5% higher

 

It has been a positive day of trade for the Australian share market with gains across the board – after a rise at the open the local bourse managed to track sideways to close 0.5 per cent higher. Mayne Pharma (ASX:MYX) shares did well today as they recently made moves into the US market. Shares in Silver Lake Resources (ASX:SLR) didn’t do so well today. As for the sectors, they all closed in positive territory with Consumer Discretionary leading the pack.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 30 points higher to finish at 6,593.

Futures market

Dow futures are suggesting a rise of 80 points.
S&P 500 futures are eyeing a rise of 7 points.
The Nasdaq futures are eyeing a lift of 27 points.
And the ASX200 futures are eyeing a 0.4 per cent lift for tomorrow morning.

Local economic news

Business conditions recorded a sixth consecutive below-average month, pointing to ongoing weakness in the business sector. Business conditions rose 1 point in September to +2 index points. This continues the below average run of business conditions but suggests that the trend weakening since mid-2018 has slowed.

Company news

MOD Resources (ASX:MOD) reports that the Supreme Court of Western Australia today made orders approving the scheme of arrangement by which Sandfire Resources NL (ASX:SFR) will acquire all of their issued shares. It is expected that a copy of the Court’s orders will be lodged with ASIC tomorrow, at which time the Scheme will become legally effective. If this occurs, MOD’s shares will be suspended from trading tomorrow. Shares in Sandfire Resources NL (ASX:SFR) closed 3 per cent higher at $6.47.

As Baby Bunting (ASX:BBN) celebrates their 40th year they report their financial year 2020 earnings guidance remains unchanged. Pro forma NPAT is expected to be in the range of $20.0 million to $22.0 million.Gross profit margin continues to strengthen to above 36 per cent. Later this year they have their second shopping centre store opening in Westfield Doncaster. Shares in Baby Bunting (ASX:BBN) closed 5.9 per cent lower at $3.50.

ANZ (ASX:ANZ) will take a $559 million hit to its second half 2019 Cash Profit as a result of increased provisions for customer related remediation. Within the group's continuing operations, remediation charges for the second half of 2019 will be e $405m after-tax.

Oil and gas giant Santos (ASX:STO) has announced that the initial flow test of the Caley reservoir in Western Australia has confirmed the main oil pool in the field is capable of producing flow rates at the higher end of pre-drill expectations. The Caley reservoir is part of the Dorado-3 appraisal well.

City Chic’s (ASX:CCX) US$16.5 million acquisition of the e-commerce assets of American clothing chain Avenue has been given the green light from the US Bankruptcy Court. The company sells plus size apparel and filed for bankruptcy in August.

SeaLink Travel Group (ASX:SLK) is set to purchase Transit Systems for $635 million in a move to turn the company into one of Australia’s leading multi-modal transport providers.

Best and worst performers 

The best performing sector was Consumer Discretionary adding 0.96 per cent while the worst performing sector was Real Estate Investment Trust, gained the least at 0.05 per cent.

The best performing stock in the S&P/ASX 200 was Mayne Pharma (ASX:MYX), rising 8.04 per cent to close at $0.60. Shares in Collins Foods (ASX:CKF) and HUB24 (ASX:HUB) followed higher.

The worst performing stock in the S&P/ASX 200 was Silver Lake Resources (ASX:SLR), dropping 3.7 per cent to close at $0.91. Shares in Gold Road Resources (ASX:GOR) and Speedcast International (ASX:SDA) followed lower.

Asian markets

higher: Japan’s Nikkei has added 1 per cent, Hong Kong’s Hang Seng has added 0.7 per cent and the Shanghai Composite has gained 0.8 per cent.

Commodities and the dollar

Gold is trading at US$1,491 an ounce.
Iron ore futures are pointing to a rise of 1.8 per cent.
Light crude is US$0.05 up at US$52.80 a barrel.
One Australian dollar is buying 67.48 US cents.
 
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

22Apr

Strong rise in retail sales for March: ASX tracking 0.6% lower at noon

22 Apr 2020 - The ASX dropped at the open and is now tracking 0.6 per cent lower at noon. WiseTech Global (ASX:WTC) shares are 10% up today after reaffirming their 2020 guidance. Shares in Flight Centre continue to fall as do oOh!Media (ASX:OML). Orocobre (ASX:ORE) released their quarterly report today showing production from the Olaroz Lithium Facility was down 11% on the PCP.

Read More
15Feb

S&P 500 falls after higher-than-expected CPI data

15 Feb 2023 - Stocks wavered Tuesday and the Dow fell, reversing earlier gains, after the January consumer price index report showed that inflation grew at a higher-than-expected 6.4% annual rate. However, the CPI figure showed that it edged slightly lower from the 6.5% figure shown in December. That marked the seventh straight month of easing inflation since peaking at 9.1% in June.

Read More
29Apr

S&P 500 closes flat, OPEC+ opts out of meeting: ASX to rise

28 Apr 21 - The ASX is to rise following another mixed session from Wall St. Raiz Invest (ASX:RZI) reports their funds under management grew by 14.6% to $694.3 million for the Q3 FY21. US Google parent company Alphabet report a 34% rise in revenue.

Read More
20Jun

Triple witching haunts Wall St, Oil falls 7%, Australian Agriculture, Qantas on watch: ASX to dip

20 Jun 2022 - Dow closed lower as Wall St falls to March 2020 levels. Iron ore prices eased against poor demand sentiment and weak steel margins. Oil prices slumped to a four-week low on concerns that central bank interest rate hikes could crimp global demand. What to look out for on the ASX today.

Read More
08Jul

Blackmores (ASX:BKL) completes SPP: ASX closes 1.5% lower

08 Jul 2020 - The ASX peaked around lunchtime and managed to close 1.5% lower. Northern Star Resources (ASX:NST) saw a rise in their shares today. Shares in Domain Holdings (ASX:DHG) took a dip. Blackmores (ASX:BKL) has successfully completed its Share Purchase Plan raising approximately $49 million.

Read More
12Mar

S&P 500 slips ahead of key inflation data due tomorrow

12 Mar 2024 - The S&P 500 wavered on Monday as the rally that brought the major averages to record highs cooled off. Investors also looked ahead to fresh U.S. inflation data.

Read More
30May

All eyes on the US consumer and retail sector: Bubs Australia sells baby formula to US government

30 May 2022 - The US consumer is proving to be resilient in the face of higher inflation with a Bank of America report suggesting that negative earnings reports in the retail sector is not indicative of a imminent economic disaster.

Read More
24Aug

Nvidia reports better than expected earnings after the bell

24 Aug 2023 - Stocks ended higher on Wednesday as Wall Street awaited the latest quarterly figures from Nvidia, which has just been reported after the bell.

Read More
22Sep

Rising Covid cases in Europe rattles markets: ASX closed 0.7% lower

22 Sep 2020 - The ASX dropped at the open and failed to gain momentum closing 0.7 per cent lower. Xero (ASX:XRO) did well today. Shares in Webjet (ASX:WEB) didn’t do so well today. As for the sectors today Information technology led the day and Materials fell lower. New Hope Corporation (ASX:NHC) saw increased coal production of 11.3 million tonnes and sales of 11.5 million tonnes in 2020.

Read More
16Aug

US equities rise despite weakening Chinese economic data

16 Aug 2022 - US equities rose on Monday as the rally on Wall Street continued as traders prepared for a big week for retail earnings.The move came despite disappointing economic data out of China, where the country’s central bank cut rates unexpectedly, raising concern over China’s economic recovery.

Read More