It’s been a choppy day of trade for the Australian market. Following positive US leads, the local bourse open higher before falling back mid morning picking up around midday to close slightly higher.
Looking at sectors, information tech and consumer staples were the best performers, Metcash
(ASX:MTS) and Woolworths
(ASX:WOW) were up 1.6 per cent and 0.5 per cent respectively. Going the other way was Telcos.
At the closing bell the S&P/ASX 200 index closed 0.3 points lower to finish at 5,652.
The value of trades was $4 billion on volume of 612 million shares at the close of trade. The top three stocks by value were Fortescue Metals Group
(ASX:FMG), Commonwealth Bank of Australia
(ASX:CBA) and Telstra
(ASX:TLS).
On the futures market the SPI is 8 points higher.
Asian markets Japan’s Nikkei has lost 0.06 per cent, Hong Kong’s Hang Seng and the Shanghai Composite are closed due to public holiday.
Local economic newsThe ABS has released Retail sales data for August 2017. It’s the second month retail sales have fallen, with August diving 0.6 per cent following June’s 0.2 per cent fall.
The ABS also released international trade data, which reported a trade surplus of $989m in August 2017, an increase of $181m from July’s surplus.
Company newsEnice Holding Company
(ASX:ENC) has announced it’s received a proposal from TechWorld to privatise the company at $0.44 per CDI. This values the telecommunications infrastructure engineering service provider at approximately $114m, almost double of what its last traded at $0.23. The proposal will be conducted under Hong Kong law, given the company is incorporated in Hong Kong. TechWorld Director, Shen Yongyun, holds 46.44 per cent Enice. Shares in Enice
(ASX:ENC) closed 63.04 per cent higher at $0.38.
TopBetta
(ASX:TBH) has reported quarterly wagering and tournament turnover of $54.62million, up 29 per cent on the June 2017 quarter.
Yojee
(ASX:YOJ) has signed the company’s first digital transformation package with wharf cartage and bulk freight industry leader, Tasman Logistics Services.
Plymouth Minerals
(ASX:PLH) has entered into an alliance with a major Chinese lithium producer, Shandong Ruifu, for its San Jose Lithium-Tin project.
Best and worst performers The best performing sector was Consumer Staples adding 0.47 per cent to close at 9, 253.
The worst performing sector was Telcos, shedding 1.25 per cent to close at 1,197. points.
The best performing stock in the S&P/ASX 200 was A2 Milk
(ASX:A2M), rising 4.75 per cent to close at $6.61. Shares in Technology One
(ASX:TNE) and Aconex
(ASX:ACX) also closed higher.
The worst performing stock in the S&P/ASX 200 was Reliance Worldwide
(ASX:RWC), dropping 5.64 per cent to close at $3.68. Shares in Asaleo Care
(ASX:AHY) and Wetsern Areas
(ASX:WSA) also closed lower.
Commodities and the dollarGold is trading at $1,276US an ounce.
Light crude is $0.52 lower at $US49.90US barrel.
One Australian dollar is buying 78.31 US cents.
