The Australian share market kicked off the week on a high note following stellar US leads with the major indices adding 2 per cent last week.
In the first two hours of trade the local bourse gained momentum with most of the major sectors seeing gains and the Aussie dollar at 3-year highs.
The health care and energy sectors are in the lead, with Resmed (ASX:RMD) continuing its rally from last week up over 3 per cent, while Cochlear (ASX:COH) and CSL (ASX:CSL) are also charging.
As for the energy sector being buoyed by a lift in the crude oil price to 3-year highs, Whitehaven Coal (ASX:WHC) rose almost 3 per cent and Origin Energy (ASX:ORG) is following.
The S&P/ASX 200 index is 24 points up or 0.39 per cent higher at 6,074. On the futures market the SPI is 28 points higher.
Crown Resorts (ASX:CWN) has completed the sale of its interest in a vacant site on Las Vegas Boulevard for US$300 million. Crown’s majority owned subsidiary, Alon Las Vegas Resort sold the 34.6 acre site with Crown taking US$264 million of the proceeds. At the same time, the gaming and entertainment group advised it still has 4 million outstanding notes to buy back. Crown Resorts (ASX:CWN) share are trading 0.3 per cent lower at $13.04.
Westpac (ASX:WBC) is considering issuing new shares via tier 1 capital securities. The big four bank has appointed ANZ, CBA, JP Morgan, Morgans, NAB, UBS and Westpac’s institutional bank for its ASX share offering, which also includes an Australian roadshow. Westpac (ASX:WBC) shares are trading 0.6 per cent higher at $31.10.
Oil and gas explorer and producer, AWE (ASX:AWE) received a $600 million takeover offer from a commodity, trading, investment and services business, Mitsui & Co. The unsolicited, non-binding and conditional proposal was for $0.95 per share. The AWE board are advising shareholders to not take any action in relation to this proposal or from China Energy Reserve & Chemicals Group (CERCG). Shares in AWE (ASX:AWE) are trading 16.5 per cent higher at $0.99
Jayride Group (ASX:JAY) started trading today. The global airport transport comparison company, floated with an issue price of 50 cents opened at 50 cents and its trading at 51 cents.
Best and worst performers
The best performing sector is healthcare adding 1.3 per cent to 25,454 points while the worst performing sector is property, shedding 0.7 per cent to 1,350 points.
The best performing stock in the S&P/ASX 200 is Orocobre Limited (ASX:ORE), rising 6.5 per cent to $7.34, followed by shares in Iluka Resources Limited (ASX:ILU) and Link Administration Holdings Limited (ASX:LNK).
The worst performing stock in the S&P/ASX 200 is Northern Star Resources Ltd (ASX:NST), dropping 5.6 per cent to $5.91, followed by shares in Regis Resources Limited (ASX:RRL) and Saracen Mineral Holdings Limited (ASX:SAR).
Gold and the dollar
Gold is trading at $US1,352 an ounce.
One Australian dollar is buying 81.10 US cents.
The three most traded cryptocurrencies are trading mixed.
Bitcoin has gained 2.6 per cent to $11,816
Ethereum gained about 12 per cent to $1,251
And Tether has fallen about 0.7 per cent to $0.99