Aus shares close at 12-day high, all sectors rally: ASX200 gains 0.5% Tuesday

Market Reports

by Jessica Amir

The Australia share market closed on a 12-day high today, erasing yesterday’s loss, and we are now about 0.7 per cent off fresh all-time highs hit earlier this month (5 July 2019).

At the closing bell the S&P/ASX 200 index closed 0.5 per cent or 33 points higher to finish at 6,725.

On Monday, the three indices bounced back, with the Nasdaq up the most, taking this year’s gain on the index to 23 per cent (year-to-date). Of the 15 per cent of the S&P500 companies that have reported results, the majority (78.5 per cent) have topped analysts’ expectations, according to FactSet.

Futures market

Dow futures are suggesting a rise of 19 points.
S&P 500 futures are eyeing a rise of 3 points.
The Nasdaq futures are eyeing a lift of 8 points.
And the ASX200 futures are eyeing a 0.4 per cent rise or 30 point rise.

Company news

Mineral Resources (ASX:MIN) owned and operated paddle-tube reactor (PTR) pilot plant has been commissioned, successfully producing high-quality graphite. The graphite purity was over 95 per cent. The $2.8 billion company made the announcement after working with small-cap, Hazer Group Limited (ASX:HZR) which commercialised the process of developing low-emission graphite. The duo have been working together since late 2017. Mineral Resources will now undertake a detailed pilot plant test program to test the capability of the design and commercial scalability. Mineral Resources (ASX:MIN) shares gained 1.1 per cent today, closing at $15.44. This month its shares have gained 2.6 per cent, while year-to-date it’s trading 0.4 per cent lower. Hazer Group Limited (ASX:HZR) shares soared 9.1 per cent today, closing at $0.36, hitting a 9-month high. This month its shares have risen 36 per cent. Year-to-date its up 24 per cent.

Kogan (ASX:KGN) gross profit rose 12 per cent and earnings (EBITDA) rose over 25 per cent in the second half of the this financial year, compared to the same time last year Kogan.com active customers grew 16 per cent year-on-year to 1.6 million to 30 June 2019. Its Mobile customers rose by 24 per cent, while its internet active customers grew 273 per cent year-on-year.

Regis Resources (ASX:RRL) has hit record annual gold production (63,418 ounces) at the top end of annual guidance for the year. In the June quarter, cash and bullion grew by $18.7 million to $205 million.

Computershare (ASX:CPU) has announced its CFO, Mark Davis will step down from his position after being with the company for nineteen years. CPU is expecting EPS for FY19 to rise by 12.5 per cent on FY18.

Best and worst performers of the day

The best performing sector was S&P/ASX Energy adding 1.4 per cent, while the sector with the last gains was S&P/ASX Materials, adding 0.1 per cent.

The best performing stock in the S&P/ASX 200 was Bellamy's Australia Limited (ASX:BAL), rising 4.9 per cent to close at $9.86. Shares in Afterpay Touch Group Limited (ASX:APT) and Nearmap (ASX:NEA) followed higher.

The worst performing stock in the S&P/ASX 200 was Domain Holdings Australia (ASX:DHG), dropping 6.2 per cent, back to where it last traded in May, closing at $2.87. Shares in Adelaide Brighton (ASX:ABC) and Computershare (ASX:CPU) followed lower.

Asian markets

Japan’s Nikkei has gained strength, 0.95 per cent, Hong Kong’s Hang Seng has also risen further, rising 0.2 per cent, and the Shanghai Composite also lifted by 0.2.

Commodities and the dollar

Gold is trading at US$1,417 an ounce.
Iron ore price fell 2.1 per cent to US$118.33.
Iron ore futures are pointing to a fall of 0.8 per cent.
Light crude is US$0.46 up at US$56.22 a barrel.
One Australian dollar is buying 70.21 US cents.

 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.