ASX upgrade results in technical hitch: ASX tracking 1.2% higher at noon

16Nov

ASX upgrade results in technical hitch: ASX tracking 1.2% higher at noon

 

The Australian share market came to a standstill around 10.30 this morning due to a technical issue that the ASX is still yet to resolve. A system upgrade was due to go live this morning with dress rehearsals already conducted. The market is currently at 1.2 per cent higher at noon.

The S&P/ASX 200 index 

The S&P/ASX 200 index is 79 points up at 6,484. On the futures market the SPI is suggesting a rise of 73 points.

Broker moves

Citi rates Lovisa (ASX:LOV) as an Upgrade to a Neutral from a Sell as the Beeline acquisition will diversify the global roll-out and boost growth in Europe.This provides instant access to six new markets. Nevertheless, downside risk could exist to investor expectations as the "next to nothing consideration" signals the network was underperforming. Target is raised to $11.60 from $6.70. Shares in Lovisa (ASX:LOV) are currently 1.1 per cent higher at $11.60.

Company news

Aurelia Metals Limited (ASX:AMI) has completed both the institutional placement and the institutional component of its 1 for 4.2 accelerated non-renounceable entitlement offer announced on Friday, 13 November 2020. Approximately $93 million was raised across the Placement and Institutional Entitlement Offer at an offer price of $0.43 per share. Shares in Aurelia Metals Limited (ASX:AMI) are trading 9.3 per cent lower at $0.45.

Best and worst performers

The best-performing sector is REITS 1.9 per cent higher, while the worst performing sector is Infotech shedding 0.2 per cent.

The best performing stock in the S&P/ASX 200 is Unibail-Rodamco-Westfield (ASX:URW) rising 9.3 per cent to $4:00, followed by shares in News Corp (ASX:NWS) and Graincorp (ASX:GNC).

The worst performing stock in the S&P/ASX 200 SkyCity Entertainment (ASX:SKC dropping 4.1 per cent to $2.84, followed by shares inPolynovo (ASX:PNV) and AusNet Services (ASX:AST)

Commodities and the dollar

Gold is trading at US$1,898 an ounce.
Iron ore futures point to a fall of 0.8%.
One Australian dollar is buying 72.93 US cents.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

11Sep

Overseas visitors continued decline – ABS: Aus shares close 0.8% lower

11 Sep 2020 - The Australian share market opened slightly higher and closed 0.8 per cent down at the end of trade. The Australian Bureau of Statistics has released annual overseas arrivals and departure figures for the month of July. Overseas visitor arrivals to Australia decreased 34.6 per cent month on month. Australian resident returns from overseas decreased 34.7 per cent month on month.

Read More
03Sep

Regis Recourses (ASX:RRL) completes Ben Hur acquisition: Aus shares 1% higher at noon

03 Sep 2020 - The Australian share market opened higher this morning and is now trading 1 per cent up at noon. Regis Recourses (ASX:RRL) has completed its acquisition of the Ben Hur Mineral Resource. Wisr (ASX:WZR) has launched a secured vehicle lending product.

Read More
16Apr

Strong retail sales & rising yields spook investors

16 Apr 2024 - Stocks erased early gains to finish well in the red after much stronger than expected retail sales cast further uncertainty around the likelihood and timing of rate cuts. Continued concerns around possible Israeli retaliation for Iran’s weekend attack also weighed heavily on markets.

Read More
18Feb

Australia launches inquiry into banks: ASX poised to open lower

18 Feb 2021 - Australian shares are poised to open lower this morning despite rising optimism about global vaccinations and economic growth. UK PM Boris Johnson has outlined a staged exit from coronavirus restrictions that would see a return to work for Brits over the next five months. Back home, an Australian parliamentary committee has launched an inquiry into the impact of changes in the investment policies of banks, superannuation funds and other financial institutions. Sonic Healthcare (ASX:SHL) report...

Read More
01Aug

Wall St rises on disappointing GDP growth, Marley Spoon serves mixed results, Why Flight Centre is a hold: ASX poised to edge higher

30 Jul 2021 - Global stocks rallied as earnings season continued amid positive economic data in Europe, though mixed numbers in the U.S. Asian markets climbed after their recent panic selling. Coverage of U.S. GDP and jobless claims, Biden’s vaccine requirement & tech titan’s mandate. Earnings figures from Yum Brands, Pinterest & Robinhood’s underwhelming debut. Marley Spoon (ASX:MMM) plated mixed results. Why UBS rates Flight Centre (ASX:FLT) as a hold.

Read More
25May

Aus shares open firmly higher despite simmering global tensions: UBS remains bearish on Afterpay (ASX:APT)

25 May 2020 - The Australian sharemarket has opened the week firmly higher, extending its rebound and is trading at an 11 week high. The stellar start comes as geopolitical tensions threaten to boil over.

Read More
23Mar

Insurance sector hit with storm of damage claims: ASX tracking 0.2% higher

21 Mar 2021 - The ASX has made a quick U-turn from a weak start this morning to bounce back up into positive territory at 6723. The Insurance Council of Australia (ICA) has declared an insurance catastrophe, as shares in QBE Insurance (ASX:QBE), Suncorp (ASX:SUN) and IAG (ASX:IAG) are drenched in red

Read More
18Nov

Fortescue Metals Group (ASX:FMG) lodges High Court appeal: Aus shares to open flat

18 Nov 2019 - Aus shares to open flat: Wall Street has record-breaking session with the Dow Jones Industrial Average breaking through 28,000 points for the first time. Fortescue Metals Group (ASX:FMG) has lodged an appeal with the High Court over a landmark native title ruling.

Read More
05Dec

Megaport (ASX:MP1) to raise $62 million: Aus shares nearly 1% higher at noon

05 Dec 2019 - The Australian share market opened lower defying positive leads from US markets, but has edged higher over the first 2 hours of trade. It is now tracking nearly 1 per cent higher at noon, with all sectors in the green. Megaport (ASX:MP1) is conducting a $62 million raising. Citi has upgraded oOh! Media (ASX:OML). Retail Trade figures for October are largely unchanged. Australia’s International Trade in Goods and Services for October capped a $6,341 million...

Read More
14Apr

Markets rally on cooler inflation data

14 Apr 2023 - Stocks jumped Thursday as traders cheered another report pointing to cooling US inflation.

Read More