Not enough steam, but ASX gains for 3rd day: Aus shares close 0.1% higher

Market Reports

by Jessica Amir

The Australia share market gained for the third straight session, rising 0.1 per cent after the about half of the sectors closed in the black. That was still wasn’t enough to recoup the losses we made on Monday after we fell 2.3 per cent.

At the closing bell, the S&P/ASX 200 index closed 8 points higher at 5,662, and we are now about 11 per cent away from our 10 year high that the market hit in August.

Futures market

Dow futures are suggesting a rise of 98 points.
S&P 500 futures are eyeing a rise of 10 points.
The Nasdaq futures are eyeing lift of 38 points.
And the ASX200 futures are eyeing a 63 point rise tomorrow/Monday morning

Company news

Real estate investment trust, Shopping Centres Australasia Property Group (ASX:SCP) announced its distribution for the 2018 half year is 6.6 per cent higher than the same time last year, after it declared a distribution of 7.25 cents per stapled unit, payable 29 January 2019. Meantime its like for like Australian property portfolio valuations rose 0.5 per cent, offsetting the overall capitalisation rate softening of 4 basis points. At the same time it also announced the resignation of a non-executive director who has been on the board for six years and is going to be replaced by Steven Crane. Shares in Shopping Centres Australasia Property Group (ASX:SCP) closed 0.4 per cent lower at $2.66.

ANZ (ASX:ANZ) announced Group Executive Australia Fred Ohlsson is stepping down from his current role to take an extended unpaid career-break in his native country, Sweden after 17-years of service with ANZ. He joined the bank in 2001 and has held senior roles in retail and commercial banking.

APA Group (ASX:APA) MD and CEO Mick McCormack will retire from the lead role by no later than 31 December 2019. He’s been at the helm since 2005.

The competition watchdog (ACCC) expressed preliminary competition concerns about the proposed merger between TPG Telecom (ASX:TPM) and Vodafone Hutchison Australia (ASX:HTA), and its potential impact on Australia’s mobile and broadband markets.

IPOs

Medical imaging company, EMvision Medical Devices Limited (ASX:EMV) started trading today. It issued shares at $0.25, opened at $0.29 and it closed at $0.31.

Software development blockchain platform. Tymlez Group Limited (ASX:TYM) started trading today. It issued shares at $0.22, opened at $0.16 and it closed at $0.15.

Best and worst performers of the day

The best performing sector was Materials adding 1.1 per cent while the worst performing sector was Telco Services, shedding 2.4 per cent.

The best performing stock in the S&P/ASX 200 was Nine Entertainment Holdings Limited (ASX:NEC), rising 8.3 per cent to close at $1.63. Shares in Syrah Resources Limited (ASX:SYR) and IOOF Holdings Limited (ASX:IFL) followed higher.

The worst performing stock in the S&P/ASX 200 was TPG Telecom (ASX:TPM), dropping 16.7 per cent to close at $6.45 Shares in St Barbara (ASX:SMB) and Domino's Pizza Enterprises (ASX:DMP) followed lower.

Asian markets

Higher:Japan’s Nikkei has added 1.1 per cent, Hong Kong’s Hang Seng has added 1.3 per cent and the Shanghai Composite has gained 1.6 per cent.

Commodities and the dollar

Gold is trading at $US1,245 an ounce.
Iron ore price gained 1.2 to US$66.73 and its futures are pointing to a rise of 0.5 per cent
Light crude is $0.43 lower at $US51.41 barrel.
One Australian dollar is buying 72.28 US cents.