Shares in Webjet (ASX:WEB) fly after media speculation response: ASX closed 0.7% higher

Shares in Webjet (ASX:WEB) fly after media speculation response: ASX closed 0.7% higher

 

It has been a positive day of trade for the Australian share market the local bourse managed to close 0.7 per cent higher after a strong afternoon rally. Webjet (ASX:WEB) rose almost ten per cent after dismissing media speculation that it was a takeover target. Cooper Energy (ASX:COE) also rose. Nearmap (ASX:NEA) and Appen (ASX:APX) dipped. As for the sectors today Utilities led the day and Infotech fell lower.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 46 points higher to finish at 6,753.

Futures market

Dow futures are suggesting a loss of 20 points.
S&P 500 futures are eyeing a fall of 2 points.
The Nasdaq futures are eyeing a fall of 5 points.
And the ASX200 futures are eyeing a 37 point rise tomorrow morning.

Local economic news

The Westpac-Melbourne Institute Index of Consumer Sentiment declined 1.9 per cent to 95.1 in December from 97.0 in November.

Company news

IMF Betham (ASX:IMF) reports that the Federal Court of Australia has approved the deed of settlement in the Forge securities class action. They will recognise gross income of approximately $7.3 million from this balance sheet investment. IMF notes that from completions since 1 July 2019, it will recognise gross income from balance sheet investments of $28.2 million in FY20 and total income of $103.5 million on a consolidated basis. Estimated income from the Brisbane floods class action in the range of $100 million to $130 million, which is subject to the outcome of any appeals. Shares in IMF Betham (ASX:IMF) closed 0.3 per cent higher at $3.58.

The Board of GrainCorp (ASX:GNC) has appointed Robert Spurway as Managing Director and CEO after completion of the planned demerger of the Company’s Malt business in early 2020.
Senex Energy (ASX:SXY) today announced an expansion of its natural gas sales agreement with leading manufacturer Orora (ASX:ORA), agreeing to supply 13.2 petajoules of natural gas from Project Atlas.

Calix (ASX:CXL) has acquired Inland Environmental Resources Inc., a US supplier of Magnesium Hydroxide Liquid (MHL). It’s for the treatment of wastewater in food processing, industrial and municipal markets.

IPO

Agriculture-biotech group Terragen Holdings (ASX:TGH) started trading today. They specialise in animal health without relying on chemical-based fertilisers, pesticides and antibiotics. They floated with an issue price of $0.25, opened at $0.26 and is currently trading at $0.20.

Nitro software (ASX:NTO) started trading today. They floated with an issue price of $1.72, opened at $1.65 and closed at $1.52.

Best and worst performers 

The best performing sector was Utilities adding 1.7 per cent while the worst performing sector was Infotech shedding 0.8 per cent.

The best performing stock in the S&P/ASX 200 is Webjet (ASX:WEB) rising 9.6 per cent to $12.78, followed by shares in Cooper Energy Group (ASX:COE) and ALS (ASX:ALQ).

The worst performing stock in the S&P/ASX 200 is Speedcast International (ASX:SDA), dropping 4.6 per cent to $0.72, followed by shares in Polynovo (ASX:PNV) and Credit Corp Group (ASX:CCP).

Asian markets

Mixed: Japan’s Nikkei has lost 0.2 per cent, Hong Kong’s Hang Seng has added 0. per cent and the Shanghai Composite has added 0.2 per cent.

Commodities and the dollar

Gold is trading at US$1,464 an ounce.
Iron ore price is 0.4 per cent lower at US$93.57
Iron ore futures are pointing to a fall of 0.3 per cent.
Light crude is US$0.15 down at US$59.09 a barrel.
One Australian dollar is buying 68.18 US cents.

 
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post