The Australian share market started the week on a fresh high, after France’s first round of Presidential polling boosted out local bourse. From the outset, The ASX200 defied Wall Street’s red close on Friday and is now tracking 0.37% higher at noon. Financials are leading the charge this session, followed by the industrials space. The gains however are being slightly offset by losses in REITs and Materials. The S&P/ASX 200 index is 21 points up at 5,875.
On the futures market the SPI is 19 points higher.
Asian markets Japan’s Nikkei has added 1.29 per cent, Hong Kong’s Hang Seng has gained 0.19 per cent and the Shanghai Composite has lost 1.68 per cent.
To company newsDroneShield
(ASX:DRO) has announced it has sold its first DroneGun tactical test unit to the military. The drone company believes the drone jammer gun will be used for testing in the Middle East, by the military of a G7 country. DroneShield says the sale comes as ISIS and other non-state actors rapidly increase their use of drones in terrorism. The revenue from the sale is not material, but shows the increasing demand for drone security. Shares in DroneShield (ASX:DRO are trading 2.94% higher per cent at $0.35
Ingenia Communities Group
(ASX:INA) has announced it has received development approval for 114 home sites in New South Wales South Coast. The Australian property group says the Lake Conjola development will provide a significant return in profit and ongoing yield. The project, Ingenia Holidays Lake Conjola, was acquired in 2015 for $24 million, with an ongoing yield of over 8%. Shares in Ingenia Communities Group are trading flat at $2.72
The best and worst performersThe best performing sector is Financials (Ex REITS), gaining 0.84 per cent to 7,680. Shares in Challenger
(ASX:CGF) have risen 1.5 per cent and trading at $12.86. Shares in Macquarie Group
(ASX:MQG) and IRESS
(ASX:IRE) are also stronger.
The worst performing sector is REITS falling 0.85 per cent to 1,424. Shares in Westfield Corporation
(ASX:WFD) have fallen 1.2 per cent, trading at $9.02. Shares in Dexus Property
(ASX:DXS) and Scentre Group
(ASX:SCG) are also lower.
Commodities and the dollarGold is trading at $US1,276 an ounce.
The Australian dollar is buying 75.54 US cents.
