Market claws back on bank rally: ASX closes 0.3% higherCraig Foley
After a shaky start the Australian share market closed 0.3 per cent higher today. Shares in ALS (ASX:ALQ) did well today after reporting strong second quarter performance. Shares in Elders (ASX:ELD) dropped over 11 per cent. As for the sectors today, Infotech ended the day as the best sector and Consumer Staples came in as the worst.
The S&P/ASX200 index
At the closing bell the S&P/ASX 200 index closed 16 points higher to finish at 6,547.
Dow futures are suggesting a fall of 22 points.
S&P 500 futures are eyeing a dip of 2 points.
The Nasdaq futures are eyeing a fall of 40 points.
And the ASX200 futures are eyeing a 16 point rise tomorrow morning.
Local economic news
The unemployment rate increased to 7.0 per cent in seasonally adjusted estimates for October 2020.
5G Networks (ASX:5GN) has acquired the Brisbane Data Centre in Fortitude Valley. They paid for $1.1 million for the Data Centre including all operating infrastructure at the facility. 5GN now operate data centres in each state on the East coast of Australia. Shares in 5G Networks (ASX:5GN) closed 1.3 per cent higher at $1.58.
Regional Express Holdings (ASX:REX) has signed an agreement with PAG Regulus Holdings for $150 million to launch Rex’s domestic jet operations in March. The crew are currently training on their first Boeing 737 aircraft set to fly from Sydney to Melbourne. Shares in Regional Express Holdings (ASX:REX) closed 5.07 per cent higher to $1.55.
Shopping Centres Australasia Property Group (ASX:SCP) has agreed to buy Auburn Central Shopping Centre in New South Wales for $129.5 million.
Summerset (ASX:SNZ) has been given the green light for its $150 million retirement village in Boulcott, Lower Hutt, New Zealand after resource consent was granted by the Environment Court.
Redcape Hotel Group Management Ltd (ASX: RDC) has acquired the Gladstone Hotel in Sydney New South Wales for $38.0 million.
Online direct personal lender Harmoney Corp (ASX:HMY) started trading today issued at $3.50. Started trading at $3.41 and closed at $3.45.
Mineral exploration company Metalhawk (ASX:MHK) also started trading today. Their shares were issued at $0.20. Started trading at $0.26 and closed at $0.26.
Best and worst performers of the day
The best performing sector was Infotech adding 1.2 per cent while the worst performing sector was Consumer Staples, shedding 0.8 per cent.
The best performing stock in the S&P/ASX 200 was ALS (ASX:ALQ), rising 7.9 per cent to close at $10.25. Shares in Perpertual (ASX:PPT) and Virgin Money UK (ASX:VUK) followed higher.
The worst performing stock in the S&P/ASX 200 was Elders (ASX:ELD), dropping 4.5 per cent to close at $10.98. Shares in Reliance Worldwide Corp (ASX:RWC) and QBE Insurance (ASX:NST) followed lower.
Mixed: Japan’s Nikkei has lost 0.9 per cent, Hong Kong’s Hang Seng has lost 0.6 per cent and the Shanghai Composite has gained 0.1 per cent.
Commodities and the dollar
Gold is trading at US$1,867 an ounce.
Iron ore price is 0.7 per cent up at US$126.34
Iron ore futures are pointing to a rise of 2.2 per cent.
Light crude is US$0.27 lower at US$41.55 a barrel.
One Australian dollar is buying 72.94US cents.
Our next online event is the 2nd December. 4 companies presenting starting 12:30pm, details at the link https://www.finnewsnetwork.com.au/page/investor-events. Please register to secure a spot.
Copyright 2020 – Finance News Network
Source: Finance News Network