Markets find some NY cheer: Aus shares 0.13% higher at noon

Market Reports

by Jessica Ellerm

Following positive leads from the US to kick start the new year, the Australian share market surged on the open and is now tracking close to the 6070 mark, 0.13 per cent higher at noon. Materials is performing strongly while Health Care has dropped off in morning trade.

After entering into a trading halt just before New Year, chocolate confectioner Yowie resumed trading early this morning. Shares in Yowie have since taken a pummelling, after the company announced sluggish sales in the US and a revised net sales growth guidance for FY18 of 17 per cent, down from 55 per cent. The business has also appointed a new CEO effective today, Bert Alfonso. At midday Yowie shares were trading roughly 33 per cent lower.

The S&P/ASX 200 index is 8.5 points up at 6069. On the futures market the SPI is 5 points higher.

Company news

Fastbrick Robotics Limited (ASX:FBR) has announced it has appointed Mr Aidan Flynn as its new Chief Financial Officer. Mr Fynn is the second addition to the leadership team within the last month, as the robotics business looks to support the growth expected in 2018 and advance its Hadrian X program. Mr Flynn’s prior roles include a stint at ASX listed Carnegie Clean Energy Limited and Chilean hydroelectric developer HydroChile. Shares in Fastbrick Robotics Limited (ASX:FBR) are trading 4.88 per cent down at $0.195.

CBL Corporation Limited (ASX:CBL) has announced its 71 per cent owned subsidiary, Securities & Financial Solutions based in Luxembourg has been issued with €5000 fine by the local insurance regulator. The Commissariat aux Assurances has determined that SFS has been operating outside certain aspects of its insurance authority. SFS believes the decision is incorrect and inconsistent with other European jurisdictions, and will appeal the fine. Shares in CBL Corporation Limited (ASX:CBL) are trading 3.40 per cent higher at $2.74.

Best and worst performers

The best performing sector was Materials, adding 1.46 per cent to 11799.

The best performing stock in the S&P/ASX 200 was Western Areas Limited (ASX:WSA), rising 3.63 per cent to $3.43. Shares in Lynas Corporation (ASX:LYC) and Sims Metal Management (ASX:SGM) are also higher.

The worst performing sector was Health Care, shedding 0.51 per cent to 24,259.

The worst performing stock in the S&P/ASX 200 was Navitas Limited (ASX:NVT), dropping 2.03 per cent to $5.32. Shares in Steadfast Group Limited (ASX:SDF) and Pact Group Holdings (ASX:PGH) are also lower.

Gold and the dollar

Gold is trading at $US, 1,321 an ounce.
One Australian dollar is buying 78.26 US cents.


Bitcoin has gained 8.81 per cent in the last 24 hours to $15,078
Ethereum risen about 5.26 per cent to $905
And Litecoin added about 9.48 per cent to $257

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