Heartland Group raise $50M: ASX200 up 0.5% over week

Market Reports

by Katrina Bullock

The Australian share market opened in positive territory this morning. It suffered a midsession slump and despite forging a comeback this afternoon it closed 0.1 per cent lower at 6,175. Most sectors made ground today, with Real Estate Investment Trusts and Industrials leading the way.

At the closing bell the S&P/ASX 200 index closed 4 points lower to finish at 6,175. Despite some promising gains earlier in the week, over the week, the market has lost 29 points or 0.5 per cent.

Futures

Dow futures are suggesting a rise of 90 points.
S&P 500 futures are eyeing a rise of 5 points.
The Nasdaq futures are eyeing a lift of 23 points.
And the ASX200 futures are eyeing a 3 point rise on Monday morning.

Company news

Newcomer to the Australian Stock Exchange, Heartland Group (ASX:HGH) have announced that their subsidiary, Heartland Australia Group Pty Limited, has completed its inaugural senior unsecured bond placement of $50 million. They say the placement is with a key Australian institutional fixed income investor. It was arranged with the assistance of Westpac Institutional Bank. The proceeds will be used to fund reverse mortgage loans in Australian currency. Shares in Heartland Group (ASX:HGH) last traded at $1.36.

1st Group (ASX:1ST) is undertaking a pilot of its online booking platform with health insurer Medibank (ASX:MPL).

A subsidiary of Windlab (ASX:WND) has agreed to provide asset management services for the Nevertire Solar Farm.

Spark New Zealand (ASX:SPK) has welcomed the NZ Government's decision to renew existing mobile spectrum rights.

Coca-Cola Amatil (ASX:CCL) say that despite media speculation, they are not pursuing a bid for Lion Drinks and Diary.

The National Australia Bank (ASX:NAB) has released its response to the Banking Royal Commission, agreeing with 13 of the 17 recommendations regarding banking. They oppose the recommendations on mortgage broker remuneration, and the recommendation that mortgage brokers should be regulated by the same laws as financial advisers.

Best and worst performers of the day

The best performing sector was Industrials adding 0.7 per cent while the worst performing sector was Materials shedding 1 per cent.

The best performing stock in the S&P/ASX 200 was Emeco holdings (ASX:EHL), rising 6 per cent to close at $2.16. Shares in Eclipx Group (ASX:ECX) and Mirvac Group (ASX:MGR) followed higher.

The worst performing stock in the S&P/ASX 200 was Syrah Resources (ASX:SYR),dropping 6.1 per cent to close at $1.08. Shares in Perpetual (ASX:PPT) followed after the release of their interim update yesterday. Regis Resources (ASX:RRL) coming in third.

Asian markets

Higher: Japan’s Nikkei has added 1 per cent, Hong Kong’s Hang Seng has added 1 per cent and the Shanghai Composite has gained 1.5 per cent.

Wall Street

Higher: The Dow Jones added 1 per cent, The S&P 500 added 2.3 per cent and the Nasdaq gained 2.9 per cent.

Commodities and the dollar

Gold is trading at US$1,298 an ounce.
Iron ore price rose 2.9 per cent to US$87.26. Its futures are pointing to a rise of 0.7 per cent.
Light crude is US$0.25 up at US$58.84 barrel.
One Australian dollar is buying 70.80 US cents.