It has been a positive start to the last trading day of the week for the Australian share market, opening higher and continuing to gain momentum in the first two hours of trade, jumping 0.56 per cent at noon. While most sectors are in the black, Energy is the star performer with gains of around 3 per cent in the likes of Santos
(ASX:STO) and Origin Energy
(ASX:ORG). We’ve also seen some decent gains in the Consumer Discretionaries and Financials sectors. Telcos are once again dragging behind with losses of around 0.5 per cent in Telstra
(ASX:TLS).
The S&P/ASX 200 index is 32 points up at 5,769. On the futures market the SPI is 25 points higher.
Checking in with how Asian markets are tracking now, Japan’s Nikkei has added 0.15 per cent, Hong Kong’s Hang Seng is flat and the Shanghai Composite has fallen 0.3 per cent.
Company newsNational Vet Care Limited
(ASX:NVL) has settled its first FY18 acquisition, a vet clinic located in New South Wales. The company says it has also entered into binding agreements to acquire four clinics. NVL says the settlement of these acquisitions is expected to take place in September, and that it will also potentially acquire two more clinics in Queensland. Shares in National Vet Care are trading up 5.08 per cent at $2.48.
Collins Foods Limited
(ASX:CKF) has announced the successful completion of the retail component of its fully underwritten 1 for 11 entitlement offer to raise $44.1 million. The company says the capital raising was an important milestone and the funds raised have enabled it to acquire 28 KFC restaurants around Australia. The 1 million shares not taken up under the offer will be allocated to intuitional investors who were sub-underwriters to the retail component of the offer. Shares in Collins Foods are trading down 0.35 per cent at $5.70.
Best and worst performersThe best performing sector is Energy, gaining 1.98 per cent to 8,777. Shares in Worley Parsons
(ASX:WOR) have risen 5.75 per cent and trading at $11.21. Shares in Origin Energy
(ASX:ORG) and Woodside Petroleum
(ASX:WPL) are also stronger.
The worst performing sector is Telcos, falling 0.26 per cent to 1,511. Shares in Telstra
(ASX:TLS) have fallen 0.23 per cent, trading at $4.30. Shares in Speedcast International
(ASX:SDA) and Vocus Group
(ASX:VOC) are flat.
Commodities and the dollarGold is trading at $US1,216 an ounce.
The Australian dollar is buying $US0.7738.
