Consumer staples drag market: ASX is 0.1% higher at noon

Market Reports

by Rachael Jones

The Australian share market opened higher this morning but is being dragged by consumer staples - flat at noon. We are seeing the vehicle company Eclipx Group (ASX:ECX) bounce higher after it rejected an $806 million takeover deal from SG Fleet Group (ASX:SGF). Afterpay (ASX:APT) and Greencross (ASX:GXL) are also doing well today. Iron ore price rose 1.7 per cent to $67.63 per tonne and its futures are up 1.8 per cent. The S&P/ASX 200 index is 9 points up at 6348. On the futures market the SPI is 12 points higher.

Local economic news

Short-term visitor arrivals during June 2018 increased 0.2 per cent when compared with May 2018 The current trend estimate for arrivals is 3.1% higher than in June 2017.

Company news

Primary Health Care (ASX:PRY) today announced underlying NPAT of $92.3 million for the year ended 30 June 2018 up from last year from $92.1 million. Revenue rose 4.9 per cent to $1.7 billion. Underlying EBIT $167 million up from last year’s $174.6 million Shares in Primary Health Care (ASX:PRY) are on a trading halt – last traded at $3.20.

Best and worst performers

The best performing sector is materials adding 0.8 per cent to 11658.10 points while the worst performing sector is consumer staples shedding 0.7 per cent to 11483 points.

The best performing stock in the S&P/ASX 200 is Eclipx (ASX:ECX), rising 14.5 per cent to $2.45, followed by shares in Greencross (ASX:GXL) and Aftertouch Pay Group (ASX:APT).

The worst performing stock in the S&P/ASX 200 is Beach Energy (ASX:BPT), dropping 9.38 per cent to $1.69, followed by shares in Ansell (ASX:ANN) and IOOF Holdings (ASX:IFL).

Asian markets 

Japan’s Nikkei has lost 0.2 per cent, Hong Kong’s Hang Seng has added 0.7 per cent and the Shanghai Composite has gained 0.2 per cent.

Commodities and the dollar

Gold is trading at $US1,185 an ounce.
One Australian dollar is buying 7307 US cents.

Cryptocurrencies

Some of the most traded cryptocurrencies are trading higher. Bitcoin has gained 2.2 per cent to US$6534, Ethereum gained about 3.4 per cent to US$304 and EOS gained about 4.9 per cent to US$5.33.