In record territory: Aus shares 0.15% higher at noon

Market Reports

by Jessica Amir

The Aussie stock market has extended its gains from yesterday, thanks to positive US sentiment, coupled with local takeover news.

Westfield Corp (ASX:WFD) shares are soaring about 14 per cent higher after it announced its business will be sold to French property giant Unibail-Rodamco for $32.74 billion, offering shareholders a 18 per cent premium price of $10.01 per share, when compared to its close price on Monday. As a result, all reits are lapping up the positivity and the sector itself, almost 2 per cent higher.

Staples, Telcos, Financials and health stocks are all in positive territory, leaving half of the our market to trade below the line.

Utilites are putting the biggest cap on gains with AGL (ASX:AGL) falling about 1.5 per cent after it announced it plans to fire up clean energy post the close of the Liddell coal fired power station.

And ahead of Supreme court's judgement today about the merger of Tatts (ASX:TTS) and Tabcorp (ASX:TAH) both betting companies are trading lower. 

The S&P/ASX 200 index is 8 points up or 0.15 per cent higher to 6,021.

On the futures market the SPI is 14 points higher.

More company news 

A leading provider of data encryption, Senetas (ASX:SEN) secured its first sales for its ultra-high speed 100 gbps ethernet encryptor. The purchase was made by a government in Western Europe. It expected further orders this financial year. At the same time the company also announced it appointed Philip Schofield as director with effect from today (13 December 2017). Philip is currently an executive director of financial services firm, Patersons Securities. He also has held senior roles with Goldman Sachs and Citi Group. Shares in Senetas (ASX:SEN) are trading 4.35 per cent higher at $0.12.

Data management and technology company, Buddy Platform (ASX:BUD) has inked its largest ever distribution agreement for its Buddy Ohm product. The agreement is with the world’s biggest largest distributor of tech products, Ingram Micro which distributes products to 1,700 suppliers including Apple, Cisco, Google, HP, IBM, Microsoft and Samsung. Sales will kick off at the tail end of the second quarter of next year. Shares in Buddy Platform (ASX:BUD) are 3 per cent lower at $0.32.

NAB (ASX:NAB) also announced it will reveal its 2018 first quarter results to the market on 8 February 2018, so get our your dairies and pencil that in. NAB is trading 0.5 per cent higher to $30.11.

IPOs

And P2P Transport Limited (ASX:P2P) started trading today. The Australian fleet management and transport company floated with an issue price of $1.32, opened at $1.44 and is currently trading at $1.30.

Best and worst performers

The best performing sector is Reits, gaining 2 per cent to 1,479.Westfield Corporation (ASX:WFD) are trading 13.8 per cent higher to $9.67.Shares in Scentre Group (ASX:SCG) and Stockland (ASX:SGP) are also stronger.

The worst performing sector is Utilites, falling 0.9 per cent to 8,594.. Shares in Iron Mountain Incorporated (ASX:INM) have fallen 5.7 per cent, trading at $50.20. Shares in Asaleo Care (ASX:AHY) and Credit Corp Group (ASX:CCP) are also lower.

Gold and the dollar

Gold is trading at $US1,243 an ounce and one Australian dollar is buying 75.67 US cents.
 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.