The Australian share market is in positive territory, with the majority of the sectors in the black. At noon, the S&P/ASX 200 is 0.5 per cent or or 37.9 points higher at 7371.4
Information Technology has been the best-performing sector, up 1.2 per cent, while Real Estate Investment Trusts are down 0.1 per cent.
Aerial imagery tech company Nearmap
(ASX:NEA) is dominating the technology sector as the best-performing stock, up 14.9 per cent following its announcement of unaudited preliminary results for the year ending 30 June 2021. Digital banking and payments provider Novatti
(ASX:NOV) is up 2 per cent following its completed acquisition with Reckon Limited.
The worst-performing stock in the S&P/ASX 200 is Platinum Asset Management
(ASX:PTM), down 7.4 per cent. Berkeley Energia
(ASX:BKY) is weighing on the energy sector, down 39.7 per cent after noting that the Board of the Nuclear Safety Council has issued an unfavourable report regarding construction of a uranium concentrate plant.
NRW Holdings
(ASX:NWH) is up 5.5 per cent continuing from its strong performance yesterday along with Transurban Group
(ASX:TCL), up 1.5 per cent. With Financials, Commonwealth
(ASX:CBA) is down 0.4 per cent. Omni Bridgeway
(ASX:OBL) is up 2 per cent following its completed US litigation investment.
Select Harvests
(ASX:SHV) is up 17.4 per cent following the announcement that a harvest has been completed and 100 per cent of the 2021 crop has been delivered to the Carina West processing facility.
NSW has recorded 89 COVID-19 cases, Queensland has recorded two new cases, and Victoria has recorded one case
Local economic news The Australian Bureau of Statistics (ABS) released its 'Overseas arrivals and departures, Australia' announcement. All arrivals to Australia for May 2021 was 114,520, a monthly increase of 60,620 trips. All departures was 107,230, a monthly increase of 43,310 trips. There were 36,190 short-term visitor arrivals, 79 per cent were from New Zealand. There were 62,360 short-term resident returns, 89 per cent were from New Zealand.
NAB business conditions in May is pencilled in today. Operating conditions hit a record high for the second straight month with growth spread across the industries and the country.
Also, ANZ and Roy Morgan will release their weekly consumer confidence figures. Consumer sentiment is expected to be lowered by Covid-19 events.
Company news Nearmap
(ASX:NEA) has announced its unaudited preliminary results for the year ending 30 June 2021. Record incremental annual contract value (ACV) growth from the North American portfolio for consecutive half year periods is expected to see the group's ACV portfolio end FY21 at $133.8 million, representing 26 per cent growth.
Omni Bridgeway
(ASX:OBL), a global leader in financing and managing legal risks, has announced the completion of a Fund 4 patent litigation investment in the United States by way of settlement. A payment of US $8.5 million is expected to occur in August 2021.
Fintech business Novatti
(ASX:NOV) has completed the acquisition of a 19.9 per cent interest in the software company Reckon Limited. Reckon is an Australian software company that provides desktop and cloud-based accounting software for accountants, bookkeepers, small to medium businesses and personal users.
Best and worst performersThe best-performing sector is Information Technology, up 1.2 per cent. The worst-performing sector is Real Estate Investment Trusts, down 0.1 per cent.
The best-performing stock in the S&P/ASX 200 is Nearmap
(ASX:NEA), trading 14.9 per cent higher at $2.28. It is followed by shares in Incitec Pivot
(ASX:IPL) and NRW Holdings
(ASX:NWH).
The worst-performing stock in the S&P/ASX 200 is Platinum Asset Management
(ASX:PTM), trading 7.4 per cent lower at $4.26. It is followed by shares in Carsales.Com
(ASX:CAR) and Crown Resorts
(ASX:CWN).
Commodities and the dollarGold is trading at US$1810.58 an ounce.
Iron ore is 1.4 per cent higher at US$217.85 a ton.
Iron ore futures are pointing to a rise of 2.15 per cent.
One Australian dollar is buying 74.93 US cents.
