Christmas holiday week ends on the up: ASX closes 1.02% higher

Market Reports

by Rachael Jones

It has been a positive day of trade for the Australian share market as the market closed in positive territory. Most of this week's gains came on Thursday. The big four banks did well all week, keeping the financials sector strong. Infrastructure and real estate investment trust shares closed the week lower. At the closing bell the S&P/ASX 200 index closed 1.02 per cent higher or 57 points up, to finish at 5,654. Over the week the ASX 200 closed 3.3 per cent higher or 187 points up.

Futures market

Dow futures are suggesting a rise of 68 points.
S&P 500 futures are eyeing a rise of 6 points.
The Nasdaq futures are eyeing lift of 8 points.
And the ASX200 futures are eyeing flat start for Monday morning.

Company news

Orocobre (ASX:ORE), one of the world's largest lithium chemicals producers has seen an almost 6 per cent rise today, moving to the top of today's top performers. It comes as just last week the company reported that sales of lithium carbonate form the Olaroz lithium facility are expected to be approximately 5,000 tonnes for the December half year at a price of US$12,470 per tonne, down approximately 8 per cent on the June half. Production remains in line with previous guidance for FY19. Shares in Orocobre (ASX:ORE) are 5.6 per cent higher at $3.19.

Biotech company Starpharma (ASX:SPL) has received advice from the US Food and Drug Administration that it will require more clinical data prior to approving VivaGel® BV for treatment of bacterial vaginosis. VivaGel® BV is already approved in the EU and Australia, and regulatory processes currently underway continue in other markets and are completely independent of FDA approval.

AuMake International (ASX:AU8) has released a statement for shareholders updating's revenue figures to $55.7 billion US dollars. AuMake has an exclusive strategic agreement with JD Worldwide.

Mesoblast (ASX:MSB) today released their corporate review showing how the company will enter 2019 with the most mature cell therapy product pipeline and technology platform in the regenerative medicine industry. Two commercial products have already been approved they recently entered into a strategic cardiovascular partnership for China with Tasly.


Atomos (ASX:AMS) started trading today. The content creation provider floated with an issue price of $0.41, opened at $0.46 and it closed at $0.50.

Best and worst performers 

The best performing sector was Financials adding 2.3 per cent while the worst performing sector was REITs, shedding 0.5 per cent.

The best performing stock in the S&P/ASX 200 was Orobobre (ASX:ORE), rising 5.6 per cent to close at $3.19. Shares in Emeco Holdings (ASX:EHL) and Bega Cheese (ASX:BGA) followed higher.

The worst performing stock in the S&P/ASX 200 was Bravura Solutions (ASX:BVS),dropping 2.6 per cent to close at $3.78. Shares in APA Group (ASX:APA) and Stockland (ASX:SGP) followed lower.

US indices over the week.

Dow futures are eyeing a lift of 3 per cent.
S&P 500 2.9 per cent higher
NASDAQ 3.8 per cent higher

Commodities and the dollar

Gold is trading at $US1,278 an ounce.
Iron ore futures are pointing to a rise of 0.5 per cent
Light crude is $0.81 lower at $US45.41 barrel.
One Australian dollar is buying 70.47 US cents.


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