Mustering up strength: Aus shares close 0.73% higher | Finance News Network

Mustering up strength: Aus shares close 0.73% higher

Market Reports

by Jessica Amir

The Australian share market gained 0.7 per cent today taking us back to where the ASX200 was on 6 November 2017. 

From the outset we have positive leads to follow as the Dow Jones added over 200 points on Facebook and Advanced Micro Devices surging. All of the ASX sectors closed in positive territory today too, with financials initially see red Westpac (ASX:WBC) was downgraded to a sell yesterday by a broker, UBS, but clawed back in the afternoon. 

Health stocks shone for the second day in a row with Nanosonics (ASX:NAN) gaining over 8 per cent with CSL (ASX:CSL) and Cochlear (ASX:COH) gaining about 3per cent. 

By the close, utilities overtook at the front runner after AGL shares gained over 3 per cent. 

Iron ore futures are pointing to fall of 1.9 per cent while, the likes of Fortescue Metals (ASX:FMG) Rio Tinto (ASX:RIO) trading higher.


At the closing bell

The S&P/ASX 200 index closed 43 points or 0.73 per cent higher today, at 5,954. Over the week we gained 85 points or 1.42 per cent, almost echoing our gain of 1.4 per cent last week.

Futures market

Dow futures are suggesting a fall of 41 points up. 
And the ASX200 futures are eyeing a 33 point gain. 
 
Value of trades

$7.4 billion on volume of 821 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA), Westpac (ASX:WBC) and BHP Billiton Limited (ASX:BHP)

Local economic news

Producer Prices rose 0.5 per cent in the March quarter, beating expectations of a 0.4 per cent rise. It comes petroleum fuel manufacturing rose the most, followed by electricity, gas and water supply prices. Year-on-year prices lifted 1.7 per cent, unchanged from the prior quarter. It also beating expectations of a 1.2 per cent rise.

Company news 

Nanosonics (ASX:NAN) received US FDA clearance for its newest infection prevention device, and that news sent its shares soaring over 10 per cent higher, but it closed up 8.4 per cent.

AGL Energy (ASX:AGL) committed to spending $400 million on building a new gas-fired power station near Newcastle in NSW. It will consist of 14 reciprocating engine units capable of generating 18 MW of capacity each. It’s hoped construction will be completed by 2022. This is also the year they plan to close the ageing coal-fired Liddell power plant.

Alternative payment provider Zip (ASX:Z1P) has delivered record revenue and cashflow in the March quarter with its revenue up 23 per cent compared to the second quarter. Low-cost carrier Tigerair also joined forces with Zip this month allowing customers to book their flights, go on holiday and pay off their airfares later.

Logistics company, GetSwift (ASX:GSW) advised its deliveries rose 140 per cent in the March quarter, marking a massive recovery from the prior quarter's 2 per cent fall. Meantime, revenue rose 211 per cent compared to the same time last year.

IPO

Similes Inclusive (ASX:SIL) started trading today. The national dental network floated with an issue price of $1.00, opened at $1.15 and it closed at $1.09 (or $1.085).

Best and worst performers of the day

The best performing sector was utilities adding 2.6 per cent to close at 7,647. 
The worst performing sector was financials, gaining 0.2 per cent to close at 6,737. points.

The best performing stock in the S&P/ASX 200 was Nanosonics (ASX:NAN), rising 8.4 per cent to close at $2.45 Shares in Domino's Pizza Enterprises (ASX:DMP) and TPG Telecom (ASX:TPM) followed higher.

The worst performing stock in the S&P/ASX 200 was Qantas Airways (ASX:QAN), dropping 2.7 per cent to close at $5.69. Shares in Webjet (ASX:WEB) and Sandfire Resources Nl (ASX:SFR) followed lower. 

Asian markets 

Japan’s Nikkei has added 0.7 per cent, Hong Kong’s Hang Seng has added 0.7 per cent and the Shanghai Composite has gained 0.2 per cent. 

Wall Street

Wrapped up the four business days this week lower: The Dow Jones lost 0.6 per cent, The S&P 500 lost 0.1 per cent and the tech heavy Nasdaq lost 0.4 per cent, while the 100 index lost 0.3 per cent. 

Commodities and the dollar

Gold is trading at $US1,317 an ounce. 
Light crude is $0.11 up at $US68.16 barrel.
One Australian dollar is buying 75.43 US cents.

Cryptocurrencies

Bitcoin trades at US$9,240 Ethereum US$655 and EOS is trading around US$15.00