It has been a positive day of trade for the Australian share market. After opening in the black the local bourse managed to maintain momentum and closed 0.8 per cent higher. Wealth management software company Bravura
(ASX:BVS) did very well today despite not having any news out. Their movement could be from their presentation at Macquarie's conference. As for the sectors, Banks did well. Consumer Discretionary is down pulled down by Super Retail Group
(ASX:SUL) and Westfarmers
(ASX:WES) amongst others. At the closing bell the S&P/ASX 200 index closed 50 points higher to finish at 6376.
Broker movesCiti has kept a Neutral for ANZ after they announced their 1H19 cash earnings from continuing operations showing profit up 2 per cent to $3.56 billion. 4 per cent ahead of Citi and 5 per cent of consensus expectations.
Futures marketDow futures are suggesting a rise of 97 points.
S&P 500 futures are eyeing a rise of 11 points.
The Nasdaq futures are eyeing alift of 55 points.
And the ASX200 futures are eyeing a 48 point rise tomorrow
Economic newsCoreLogic reported today that Australia’s dwelling values fall 0.5 per cent in April as rate of decline continues to ease. Dwelling values are down 7.2 per cent over the past twelve months and 7.9 per cent lower since peaking in September 2017. The Sydney market remained the biggest loser of the capitals, with values 10.9 per cent lower than they were a year ago.
Company news SkyCity Entertainment Group
(ASX:SKC) has applied to New Zealand's Overseas Investment Office for clearance to buy Queenstown land for a big new hotel development.Its group revenue for the year to date was down 2 per cent on last year due to its lower win rate for international business. The company recently sold its resort and casino business in Darwin, and a licence to operate its carpark in Auckland city. Shares in SkyCity Entertainment Group
(ASX:SKC) 4.7 per cent lower at $3.66
Bega Cheese
(ASX:BGA) is thrilled with the Federal Court of Australia's ruling today that they may continue to use the trademark peanut butter jars after a long battle with American food company Kraft.
Qantas
(ASX:QAN) currant Chief Financial Officer, Tino La Spina is moving to become Chief Executive Officer of Qantas International. The group's chief customer officer Vanessa Hudson will move to the role of chief financial officer.
Treasury Wine Estates
(ASX:TWE) confirms continued positive momentum in Asia with record sales delivered for the nine months ending March 2019, including strong trading performance across the Chinese New Year festive period.
Best and worst performersThe best performing sector was Information Technology adding 2.5 per cent while the worst performing sector was Consumer Discretionary, shedding 0.3 per cent.
The best performing stock in the S&P/ASX 200 was Bravura Solutions
(ASX:BVS), rising 8.2 per cent to close at $6.24. Shares in AfterPay Touch Group
(ASX:APT) and Nine Entertainment Group
(ASX:NEC) followed higher.
The worst performing stock in the S&P/ASX 200 was Super Retail Group
(ASX:SUL),dropping 8.8 per cent to close at $7.90. Shares in SkyCity Group
(ASX:SKC) and Bank of Queensland
(ASX:BOQ) followed lower.
Asian marketsJapan’s Nikkei has lost 0.2 per cent, Hong Kong’s Hang Seng has lost 0.7 per cent and the Shanghai Composite has gained 0.5 per cent.
Commodities and the dollar Gold is trading at US$1,279 an ounce.
Iron ore price rose 0.1 per cent to US$94.17
Iron ore futures are pointing to a rise of 2.1 per cent.
Light crude is US$0.03 lower at US$63.47 barrel.
One Australian dollar is buying 70.51 US cents.
