Boxing day buys, all sectors buoyed on Wall St record: ASX closes 1.9% higher

Market Reports

by Jessica Amir

The Australian share market had a positive day, extended its Christmas Eve gains and gaining momentum throughout the session and finishing with a gain of 1.9 per cent.

It comes as all of our sectors made a gain of about 1 per cent or more, with the Energy sector up the most after the Oil price lifted 10 per cent, rebounding from its Christmas Eve sell-off. 

The Energy sector finished 3 per cent higher with Healthcare following closely, while six other sectors gained about 2 per cent each, with Staples, Telcos and Property gaining the least today.

From the get-go, we had stellar leads to follow after Wall Street notched its best rally ever, with the Dow gaining over 1,000 points (on Wednesday), with retail and energy shares sharply rising, and US equities clawing back from the prior session’s heavy losses.

At the closing bell the S&P/ASX 200 index closed 103 points higher at 5,597.

Futures market

Dow futures are suggesting a fall of 41 points.
S&P 500 futures are eyeing a rise of 3 points.
The Nasdaq futures are eyeing fall of 5 points.
And the ASX200 futures are eyeing a 116 point rise tomorrow morning

Company news

Woodside (ASX:WPL) has taken a major step in creating a regional LNG production centre in northern WA, on the Burrup Peninsula. Woodside awarded a Pluto platform LNG project contract to Bechtel Pty Ltd, for front-end engineering design (FEED) of its processing train 2 project. The FEED work includes finalising the costs and technical definitions of the proposed second train. Start up of train 2 is tipped for 2024, but not before necessary joint venture approvals, regulatory approvals etc. Woodside (ASX:WPL) shares closed 1.2 per cent higher at $31.06.

Aurelia Metals (ASX:AMI) has finalised the transition to contract mining at its Peak Mines. PYBAR Mining Services will undertake all underground development and production mining at the site for five years. Its shares are 151 per cent higher year-on-year. Today its shares fell 3.6 per cent.

Afterpay Touch Group (ASX:APT) shares have also seen a strong rally today rising 6.1 per cent after the Christmas rush and boxing day sales. However, its shares have come along way after they fell from their all-time in August when it hit $23.00. Year-on-year its shares are 105 per cent higher year-on-year.

Bellamy's Australia (ASX:BAL) shares have made a bit of rebound, rising 6.5 per cent, moving up to one of today’s top performers. However, the stock has been heavily sold down after reaching an all-time high in March, when it hit about $22.52. Year-on-year its shares have lost 32 per cent.

Best and worst performers of the day

The best performing sector was Energy adding 3.1 per cent while the worst performing sector was Real Estate Investment Trusts, adding 0.8 per cent.

The best performing stock in the S&P/ASX 200 was Ausdrill Limited (ASX:ASL), rising 7.4 per cent to close at $1.17. Shares in Bellamy's Australia Limited (ASX:BAL) and Afterpay Touch Group Limited (ASX:APT) followed higher.

The worst performing stock in the S&P/ASX 200 was Speedcast International (ASX:SDA), dropping 5 per cent to close at $2.87. Shares in Healthscope. (ASX:HSO) and Unibail-Rodamco-Westfield (ASX:URW) followed lower.

Asian markets

Higher:Japan’s Nikkei has added 4.21 per cent, Hong Kong’s Hang Seng has added 0.6 per cent and the Shanghai Composite has gained 0.4 per cent.

Commodities and the dollar

Gold is trading at $US1,269 an ounce.
Iron futures are pointing to a fall of 0.5 per cent
Light crude is $4.08 higher at $US46.61 barrel.
One Australian dollar is buying 70.55 US cents.