Afterpay collects gains, ASX back at highs: Aus shares close 0.3% higher

Market Reports

by Jessica Amir

The local share market re-entered its fresh 10-year highs today with tech and industrials stocks flexing their muscle.

We saw fintech giant Afterpay Touch (ASX:APT) gain over 23 per cent, and industrials lead half of the sectors higher after CIMIC (ASX:CIM) jumped over 16 per cent.

At the closing bell the S&P/ASX 200 index closed 0.28 per cent/18 points higher at 6,263.

Futures market

Dow futures are suggesting a fall of 1 point.
And the ASX200 futures are eyeing a 21 point gain.

Value of trades

$5.1 billion on volume of 671 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited (ASX:BHP), Commonwealth Bank of Australia (ASX:CBA) and Rio Tinto (ASX:RIO).

Company news

Shares in Evolution Mining (ASX:EVN) have fallen below its 150 day moving average price today after giving its June quarterly update, with it achieving gold production at the upper end of its guidance. It announced record low AISC, below its guidance. Meantime, it also saw record operating mine cash flow, and a lift in its cash balance. In further good news, it reduced its net bank debt by 62 per cent. Shares in Evolution Mining (ASX:EVN) closed 4.44 per cent lower at $3.01.

Shares in buy now, pay later company, Afterpay (ASX:APT) surged 24 per cent higher after it announced its total sales (processed through its app) rose about 290 per cent on FY17 to $2.18 billion in the fourth quarter of the 30 June financial year. It comes after it had a strong start in the US in June, while its total platform customers also hit 2.2 million and its onboard retailers hit about 17,000.

Infrastructure and mining services company, CIMIC Group (ASX:CIM) announced its net profit after tax rose 12 per cent year-on-year to $363 million in the 2018 half year (ending 30 June 2018), while it also revenue rose 11 per cent and it also confirmed its full-year net profit after tax guidance ($720 million to $780 million).

Woodside Petroleum’s (ASX:WPL) total revenue rose to US$2.4 billion (year-to date) for the period ending 30 June 2018, compared to US$1.9 billion for the same time last year.

Santos’ (ASX:STO) first half sales rose 16 per cent to US$1.7 billion, on the back of stronger commodity prices and higher oil sales.

Best and worst performers of the day

The best performing sector was industrials adding 0.9 per cent while the worst performing sector was telcos, shedding 0.5 per cent.

The best performing stock in the S&P/ASX 200 was Afterpay Touch Group Limited (ASX:APT), rising 23.90 per cent to close at $13.53. Shares in CIMIC Limited (ASX:CIM) and Mineral Resources Limited (ASX:MIN) followed higher.

The worst performing stock in the S&P/ASX 200 was Bega Cheese Limited (ASX:BGA), dropping 5.99 per cent to close at $7.53. Shares in Evolution Mining Limited (ASX:EVN) and Northern Star Resources (ASX:NST) followed lower.

Asian markets

Lower: Japan’s Nikkei has lost 0.13 per cent, Hong Kong’s Hang Seng has shed 0.1 per cent and the Shanghai Composite has lost 0.6 per cent.

Commodities and the dollar

Gold is trading at $US1,223 an ounce.
Iron ore price rose 1.8 per cent to US$65.24 and its futures are pointing to a rise of 0.75 per cent.
Light crude is $0.77 up at $US67.93 barrel.
One Australian dollar is buying 74.05 US cents.


Some of the most traded cryptocurrencies are trading lower. Bitcoin has fallen 1.2 per cent to US$7,350, Ethereum has shed about 5.3 per cent to US$478 and EOS has fallen 5.1 per cent to US$8.53.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.