Aussie top 200 (ASX200) hits new all-time high: Aus shares gain 0.5%

Market Reports

by Jessica Amir

The Australian share market started the trading week with a bang, hitting a new all-time high earlier in the session, 6,834 points, with most of the sectors contributing to the gains. It was thanks to the local earning season kicking off with Bubs Australia (ASX:BUB) gaining 6 per cent and Collins Foods (ASX:CKF) gaining 2 per cent on their results. While Afterpay (ASX:APT) shares extended their shares gains to five days.

At the closing bell the S&P/ASX 200 index closed 32 points higher to finish at 6,826 points. The ASX200 prior all-time high was 6,828.7 on 1 November 2007. 

On Friday, the S&P500 and the Nasdaq closed at another record high. Alphabet shares rose 10 per cent on $9.18 billion earnings. Starbucks shares rose 9 per cent, McDonalds shares hit an all-time high, both on sales growth.

Futures market

Dow futures are suggesting a fall of 23 points.
S&P 500 futures are eyeing a dip of 3 points.
The Nasdaq futures are eyeing a fall of 11 points.
And the ASX200 futures are eyeing a 0.6 per cent rise.

Company news

EML (ASX:EML) has been green lighted by Central Bank of Ireland to buy the remaining 25.14 per cent stake in PerfectCard, taking its holding to 100 per cent. The transaction took place on 25 July 2019, with $4.7 million being the cash consideration. Since buying the majority stake (74.86 per cent) in July 2018, EML has transitioned the majority of its Europe programs to Perfectcard. Shares in EML Payments (ASX:EML) closed 2.2 per cent higher at $3.22. Year-on-year its shares are up 92.81 per cent.

Debt buying company, Credit Corp (ASX:CCP) announced a 9 per cent lift in net profit after tax (NPAT) to $70.3 million in the 2019 financial year. Revenue rose 8 per cent to $324 million. CEO, Thomas Beregi presented his results at FNN and you can catch them on our website. Year-on-year its shares are up 29 per cent.

Bubs Australia (ASX:BUB) announced its highest quarterly revenue, with fourth quarter sales exceeding the full 2018 year. The full year ended 179 percent higher on the prior year, with gross revenues hitting $51.3 million. Year-on-year its shares are up 93.15 per cent.

Collins Foods (ASX:CKF) has today announced a 20 per cent lift in its statutory net profit (NPAT) to $39 million for the 2019 financial year. The groups total revenue rose by 17 per cent to about $901 million, bolstered by new restaurant openings. Earnings its KFC Australia business strengthened, rising 17 per cent. Year-on-year its shares are up 67.75 per cent.

Best and worst performers of the day

The best performing sector was Information Technology, adding 1.9 per cent while the worst performing sector and the only sector in the red was REITs, shedding 0.9 per cent.

The best performing stock in the S&P/ASX 200 was Afterpay Touch Group (ASX:APT), rising 4 per cent to close at $27.18. Shares in Speedcast International (ASX:SDA) and Vocus Group (ASX:VOC) followed higher.

The worst performing stock in the S&P/ASX 200 was Credit Corp Group (ASX:CCP), dropping 6.2 per cent to close at $24.80. Shares in GUD Holdings (ASX:GUD) and Bingo Industries (ASX:BIN) followed lower.

Asian markets

Japan’s Nikkei has lost 0.4 per cent, Hong Kong’s Hang Seng has lost 1.5 per cent and the Shanghai Composite has lost 0.2 per cent.

Commodities and the dollar

Gold is trading at US$1,418 an ounce.
Iron ore price rose 1.1 per cent to US$118.31.
Iron ore futures are pointing to a rise of 0.3 per cent.
Light crude is US$0.18 up at US$56.20 a barrel.
One Australian dollar is buying 69.08 US cents. The Aussie dollar lost about 1.8 per cent last week on a strengthening US dollar.

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