The Australian share market opened slightly lower following negative leads from Wall Street, but is currently trading 0.3 per cent higher at noon. The tech sector is the best performer this morning and buy-now, pay-later player Afterpay (ASX:APT) is leading the gains and has hit a new record share price today. This comes after its US competitor Affirm (Nasdaq:AFRM) had an incredibly successful debuted on the Nasdaq.
The S&P/ASX 200 index is 23 points up or 0.3 per cent higher at 6,738. On the futures market the SPI is 23 points higher.
Local economic news
The Australian Bureau of Statistics says the total value of new loan commitments for housing reached a record high in November 2020. The total value of new loan commitments for housing rose 5.6 per cent to $24 billion during the month.Broker moves
Credit Suisse has upgraded Fisher & Paykel Healthcare (ASX:FPH)
from an underperform to a neutral. The broker believes the company has endured a period of share price underperformance and that demand for consumables will strengthen in the year ahead. Shares in Fisher & Paykel Healthcare (ASX:FPH)
are trading 0.8 per cent lower at $29.77.Company news
Australian buy-now, pay-later player, Payright (ASX:PYR)
, has reported a quarter-on-quarter jump of 28 per cent in gross merchandise value to $20.6 million for the December quarter. This comes on the back of a 44 per cent increase in the figure in the September quarter. Total customers grew 13 per cent and Payright secured agreements with 256 new merchants during the period. Shares in Payright (ASX:PYR)
are trading 10.6 per cent higher at $0.94.Best and worst performers
The best-performing sector is Information Technology, adding 1.8 per cent, while the worst performing sector is the Consumer Discretionary sector, shedding 0.7 per cent.
The best performing stock in the S&P/ASX 200 is Afterpay (ASX:APT)
, rising 6.3 per cent to $128.63, followed by shares in Pro Medicus (ASX:PME)
and Clinuvel Pharmaceutical (ASX:CUV)
The worst performing stock in the S&P/ASX 200 is Resolute Mining (ASX:RSG)
,dropping 6.2 per cent to $0.72, followed by shares in Polynovo (ASX:PNV)
and Zip Co (ASX:Z1P)
.Commodities and the dollar
Gold is trading at US$1,855 an ounce.
Iron ore price rose 0.2 per cent to US$169.80.
Iron ore futures are pointing to a rise of 2.7 per cent.
One Australian dollar is buying 77.73 US cents.