Following Wall Street’s rebound on Friday the Australian share market started the trading week on the front foot. The local bourse was tracking 0.54 per cent higher at 12.30pm with most of the sectors trading higher, except Reits which are trading marginal lower.
The Bank of Queensland
(ASX:BOQ) is tracking 2.7 per cent higher, while IOOF Holdings is trading 2.40 per cent up, while Bendigo and Adelaide Banks
(ASX:BEN) shares are soaring 6.48 per cent higher, after it reported a rise in its statutory net profit.
The S&P/ASX 200 index is 32 points up at 5,725.
On the futures market the SPI is 22 points higher.
Asian markets Japan’s Nikkei has lost 0.91 per cent, Hong Kong’s Hang Seng has added 0.9 per cent and the Shanghai Composite has gained 0.11 per cent.
Local economic news out todayPersonal finance commitments have fallen by 1.8 per cent in June, while lease finance dropped by 3.2 per cent in the month, compared to May. Meantime owner occupied housing commitments excluding alternations and additions on 0.5 per cent in trends in June according to the ABS.
Company newsCrown Resorts
(ASX:CWN) has announced the last of the 19 current and former employees of the group, that were detained in China, have now been released. Australia’s largest gaming and entertainment group says it’s pleased that all of its employees are now with their families and loved ones. Crown also gave thanks to the Australian Government and the Department of Foreign Affairs and Trade for assisting with the return of the employees. Shares in Crown Resorts
(ASX:CWN) are trading 1.17 per cent higher at $11.63.
Praemium
(ASX:PPS) has reported record profit for the year ending 30 June 2017. The software platform saw its net profit before tax rise 42 per cent to $2.2 million, while its net profit after tax fell 12 per cent compared to FY16. Meantime the group’s underlying EBITDA rose 54 per cent in the 12 months to the end of the 2017 financial year. Shares in Praemium
(ASX:PPS) are trading flat per cent at $0.42.
The best and worst performersThe best performing sector is Financials, gaining 0.8 per cent to 6,507. Shares in Bendigo and Adelaide Bank Limited
(ASX:BEN) have risen 6.48 per cent and trading at $11.99. Shares in Bank of Queensland
(ASX:BOQ) and IOOFHoldings
(ASX:IFL) are also stronger.
The worst performing sector is Reits , falling 0.31 per cent to 1,304. Shares in Iron Mountain
(ASX:INM) have fallen 1.42 per cent, trading at $47.24. Shares in Shopping Centres Australasia Property Group
(ASX:SCP) and Dexus
(ASX:DSX) are also lower.
To commodities Gold is trading at $US,1288 an ounce and one Australian dollar is buying 79.03 US cents.
