Nearmap shares up almost 10%: ASX closed 0.5% higher

Market Reports

by Rachael Jones

It has been a positive day of trade for the Australian share market. After opening in the black the local bourse managed to maintain momentum closing 0.5 per cent higher. Aerial imagery technology and location data company Nearmap (ASX:NEA), rose almost ten per cent today. Shares in WorleyParsons (ASX:WOR) also rose. Some of the worst perfoming stocks today were Fisher and Paykel (ASX:FPH), Domino's Pizza (ASX:DMP) and Estia Health (ASX:EHE). As for the sectors today, the information technology, energy and comms sectors are outperforming this morning, while utilities were dragging behind.

At the closing bell the S&P/ASX 200 index closed 43 points higher to finish at 6485.

Futures market

Dow futures are suggesting a rise of 77 points.
S&P 500 futures are eyeing a rise of 5 points.
The Nasdaq futures are eyeing afall of 26 points.
And the ASX200 futures are eyeing a 23 point rise tomorrow

Company news

Macquarie Media (ASX:MRN) has re-signed Alan Jones for another two years. He is the host of its 2GB Sydney and 4BC Brisbane breakfast radio programs. In announcing the signing, Chairman Russell Tate says with Alan’s current ratings share of the Sydney radio audience amongst the highest it has ever been, his dominance shows no sign of slowing down. Shares in Macquarie Media (ASX:MRN) last traded at $1.65

New Hope Corporation (ASX:NHC) released its quarterly activities report today showing total coal production at Queensland operations was slightly above the prior comparative quarter. Other key points were the acquisition of a further 10 per cent of the Bengalla Joint Venture in late March 2019. Shares in New Hope Corporation (ASX:NHC) 4.1 per cent higher at $2.80.

Synlait Milk (ASX:SM1) has increased its forecast milk price for the (current) 2018/2019 season from $6.25 (per kilo) kgMS to $6.40 kgMS. The increase comes on the pack of recovering dairy commodity prices since January.

Infratil (ASX:IFT) has today announced the appointment of Dr Brett Robinson as the CEO of RetireAustralia. Infratil holds a 50 per cent ownership stake in RetireAustralia while New Zealand Superannuation Fund holds the remaining stake.

And Vitamin company Blackmores (ASX:BKL) have reported a fall in NPAT from last financial year of 14 per cent from $51.6 million to $44.2 million. EBIT is down 12 per cent on last year from $74.5 million to $65.5 million for financial year 2019. Revenue is up 6 per cent to $460.1 million.

IPO

Investec Australia Property Fund (ASX:IAP) started trading today following its successful IPO last week. The industrial and retail real estate assets investment company raised close to $102 million following an oversubscription and a successful bookbuild. The fund has over one billion worth of properties in its portfolio. Issue price is $1.35, it opened at $1.40 and closed at $1.44.

Best and worst performers 

The best performing sector was Information Technology adding 2.2 per cent while the worst performing sector was Utlities, shedding 0.7 per cent.

The best performing stock in the S&P/ASX 200 was Nearmap (ASX:NEA), rising 9.6 per cent to close at $3.77. Shares in WorleyParsons (ASX:WOR) and Speedcast International (ASX:SDA) followed higher.

The worst performing stock in the S&P/ASX 200 was Fisher and Paykel (ASX:FPH), dropping 5.2 per cent to close at $14.50. Shares in Domino's Pizza (ASX:DMP) and Estia Health (ASX:EHE) followed lower.

Asian markets

Japan’s Nikkei has added 0.4 per cent, Hong Kong’s Hang Seng has added 0.6 per cent and the Shanghai Composite has gained 0.7 per cent.

Commodities and the dollar

Gold is trading at US$1,284 an ounce.
Iron ore price rose 3.1 per cent to US$108.62
Iron ore futures are pointing to a rise 0.7 per cent.
Light crude is US$0.61 up at US$59.24 a barrel.
One Australian dollar is buying 69.28 US cents.