ASX at year highs: Aus shares 0.2% higher at noon

Market Reports

by Jessica Amir

The Australian share market has extended it rally this week, has hit a fresh one month high, and is tracking shy of the ASX200’s one year high. Over half of the market is seeing gains today, with materials and energy taking first and second place as the leaders.

Utilities are the sector seeing the most losses, while retailer Myer (ASX:MYR) has taken one of the biggest hits today falling about 6.9 per cent after it reported deteriorating sales and profit.

The S&P/ASX 200 index is 0.2 per cent higher or 12 points up to 6033 points.

On the futures market the SPI is 10 points higher.

Local economic news out today

The trend unemployment rate remained at 5.4 per cent in November 2017 on par with market expectations. While some jobs data beat market expectations today with the ABS reporting trend employment grew by 22,000, beating 19,200 expected

More company news

Caltex Australia (ASX:CTX) has made its way as one of the top performers of the day with its shares rising over 4 per cent the ACCC vetoed BP from buying Woolworths (ASX:WOW) fuels. Caltex will continue to provide fuel to Woolworths and its customers in accordance with its wholesale agreements. At noon shares in Caltex Australia (ASX:CTX) were trading 4.5 per cent higher at $35.02

Tatts (ASX:TTS) shares stopped trading on the ASX today after the Supreme Court approved the merger with Tabcorp (ASX:TAH). New Tabcorp shares will start trading on a deferred settlement basis today with Tabcorp ordinary shares (T+2) to start trading on Wednesday 27 December 2017. Tatts also went ex div today, paying a fully franked special dividend of 16 cents per Tatts share, as the court made the $11.3 billion merger effective. Tatts last traded at $4.61.

Talent technology company, LiveHire (ASX:LVH) has completed a $20 million capital raise. The placement was made to sophisticated and institutional investors at a price of $1.05 per share. Shares in LiveHire are trading 1.4 per cent at $1.09

IPOs

Engage:BDR Limited (ASX:EN1) a digital advertising started trading today. It floated with an issue price of $0.20, opened at $0.30and is currently trading at $0.25.

The best and worst performers

The best performing sector is Materials, gaining 1 per cent to 11,050. Shares in Independence Group Nl (ASX:IGO) have risen 4.6 per cent and trading at $4.21. Shares in South32 (ASX:S32) and Mineral Resources (ASX:MIN) are also stronger. 

The worst performing sector is Utilities, falling 0.9 per cent to 8,540. Shares in AGL Energy (ASX:AGL) have fallen 1.8 per cent, trading at $24.83 Shares in Spark Infrastructure Group (ASX:SKI) and Ausnet Services (ASX:AST) are also lower. 

Commodities and the dollar

Gold is trading at $US1,254 an ounce and one Australian dollar is buying 76.69 US cents.

Cryptocurrencies

Bitcoin has fallen 5.28 per cent in the last 24 hours to $16,538
Ethereum has gained about 13 per cent to $730
And Litecoin has lost about 3.99 per cent to $306

 

Jessica Amir

Finance News Network
Jessica is the head of news and a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.