December cheer: Aus shares 0.48% higher at noon

Market Reports

by Jessica Amir

It’s been a stellar start to December, with the ASX200 shimmering up at the open after Financials, Energy and Health care stocks bounded forth, clawing back from yesterday’s falls. Most of the market is tracking higher and the local bourse has been dancing above and just a touch below the 6,000 point milestone.

Beach Energy (ASX:BPT) has gained over 6 per cent and Oil Search (ASX:OSH) added over 2 per cent, which left Energy as the star performing sector, up 2 per cent at one point.

Among the top 200 health stocks, Nanosonics (ASX:NAN) injected the most life, rising over 2 per cent after the European Society of Radiology issued best practice recommendations, about mandatory dis-infection standards, which further validates its business.

While in the discretionary space, the ACCC dropped its review of the proposed merger with Tabcorp (ASX:TAH) and Tatts (ASX:TTS), which saw Tabcorp gain a further 2.2 per cent.

We also did have positive leads to follow too after the Dow Jones soared over 330 points, the iron ore price lifted.

The S&P/ASX 200 index is 29 points up or 0.48 at 5,999.

On the futures market the SPI is 25 points higher.

Local economic news

National dwelling values held steady in November, with a 0.1 per cent slip in capital city values offsetting a 0.2 per cent lift in values across the regional markets of Australia,

More company news 

Software logistics business, GetSwift (ASX:GSW) inked a global agreement with Amazon. The company says it’s not able to give any further information at this stage due to the highly sensitive nature of the terms and conditions in the international deal. At the same time GetSwift also signed a multiyear partnership with a Fortune 500 company called Yum! which operates Taco Bell, KFC, Pizza Hut, and WingStreet worldwide. Shares in GetSwift (ASX:GSW) are soaring over 83 per cent higher at $3.60.

And Paragon Care (ASX:PGC) is snapping up CSL’s (ASX:CSL) immunohematology business, Seqiris for $8.5 million. Seqiris inked revenues of $10 million in FY17 and EBITDA of $1.5 million. Settlement is booked for February/March next year and will be accretive to Paragon’s FY18 EPS. The firm has a presence in under-exploited emerging markets and strong relationships in hospitals and pathology. Shares in Paragon (ASX:PGC) are trading 0.3 per cent lower at $0.83.


Gold and base metal developer, AIC Resources Limited (ASX:AIC) started trading today. It floated with an issue price of 20 cents, opened at 25 cents and is currently trading at 25 cents.

Bojun Agriculture Holdings Limited (ASX:BAH) started trading today. The Chinese fruit cider vinegar and fruit confections company floated with an issue price of 30 cents opened at 31.5 cents and is currently trading at 31.5 cents.

Best and worst performers

The best performing sector is Energy, gaining 1.8 per cent to 10,430. Shares in Beach Energy (ASX:BPT) have risen almost 6 per cent and trading at $1.11. Shares in Oil Search (ASX:OSH) and Origin Energy (ASX:ORG) are also stronger.

The worst performing sector is Telcos, falling 0.4 per cent to 1,234. Shares in Vocus Group (ASX:VOC) have fallen 1.1 per cent, trading at $3.10. Shares in Telstra Corporation (ASX:TLS) and Speedcast International (ASX:SDA) are also lower.

Gold and the dollar

Gold is trading at $US1,276 an ounce and one Australian dollar is buying 75.67 US cents.