Westpac (ASX:WBC) consider potential sales: ASX closes 0.5% higher

Market Reports

by Rachael Jones

It has been a mostly positive day of trade for the Australian share market. At the closing bell the S&P/ASX 200 index closed 33 points higher, or 0.5 per cent higher to finish at 6,779.

Futures market

Dow futures are suggesting a fall of 26 points.
S&P 500 futures are eyeing a dip of 1 points.
The Nasdaq futures are eyeing lift of 45 points.
And the ASX200 futures are eyeing a 32 point risetomorrow morning

Economic news

Australia recorded a goods trade surplus of $8.1 billion, the first time in history Australia’s trade surplus recorded three consecutive months above $8 billion, according to preliminary trade data released today by the Australian Bureau of Statistics (ABS).

Company news

Westpac (ASX:WBC) has already placed a number of businesses into a Specialist Businesses Division, for ultimate exit. We have also announced the consolidation of our international operations in Asia. Westpac is also assessing the appropriate structure for its New Zealand business and whether a demerger would be in the best interests of shareholders. Shares in Westpac (ASX:WBC) closed 1 per cent lower at $24.19.

Genex Power (ASX:GNX) has today secured the final piece of the $777 million project financing package for the 250MW Kidston Pumped Storage Hydro Project through the launch of a fully underwritten Capital Raising to raise $90 million.

Santos (ASX:STO), as operator of the Barossa joint venture, has awarded the contract for the construction, connection and operation of the Floating Production, Storage and Offloading vessel to BW Offshore.

Best and worst performers of the day

The best performing sector was Healthcare adding 1.9 per cent while the worst performing sector was Energy shedding 0.9 per cent.

The best performing stock in the S&P/ASX 200 was Graincorp (ASX:GNC), rising 6.2 per cent to close at $5.00. Shares in REA Group (ASX:REA) and Whitehaven Coal (ASX:WHC) followed.

The worst performing stock in the S&P/ASX 200 was Lynas Rare Earths (ASX:LYC), dropping 9.1 per cent to close at $5.63. Shares in Virgin Money UK (ASX:VUK) and Webjet (ASX:WEB) followed.

Asian markets

lower:Japan’s Nikkei has lost 1.9 per cent, Hong Kong’s Hang Seng has also lost 1.9 per cent and the Shanghai Composite has lost 1.3 per cent.

Commodities and the dollar

Gold is trading at US$1,733 an ounce.
Iron ore price rose 3.1 per cent to US$161.80.
Its futures are pointing to a rise of 2.2 per cent.
Light crude is US$0.08 up at US$56.01 barrel.
One Australian dollar is buying 75.97 US cents.


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