Aus shares hit another new fresh high 6,644pts: ASX 1% up at noon

Market Reports

by Jessica Amir

The Australian share market hit another fresh high with the ASX200 hitting 6,644 points, with most sectors rising.

From the outset we had positives leads as Wall Street closed in the back on hopes a US China trade tariff deal will be met as President Donald Trump agrees to meet Xi Jinping, at G-20. Also overnight, we saw the iron ore price hit a new multi year high of US$112

The S&P/ASX 200 index is 68 points or 1 per cent higher at 6,638. On the futures market the SPI is 61 points higher.

Company news

Infection control company, Nanosonics Limited (ASX:NAN) shares hit an all time high today. The last news announcement the company made was back on 3 April whereby the French government recommended that disinfection be immediately introduced into the country. The Ministry of Health now requires ultrasound probes to be disinfected, even if a sheath is used. And this strongly supports Nanosonics business model. Shares in Nanosonics are trading 6.3 per cent higher at $5.63 at noon.

Regenerative medicine small company, Orthocell (ASX:OCC) has found that patients can regain normal oral function and enjoy a normal diet using its CelGro bone regeneration treatment. The 10 patients it treated had previously suffered, in some cases for many years, from damaged, missing or diseased teeth and prior to treatment they suffered from irritation, bleeding gums, an inability to chew or eat certain food or enjoy a normal diet. Orthocell (ASX:OCC) shares are trading 13.8 per cent higher at $0.49 at noon.

Cannabinoid company, Botanix Pharmaceuticals (ASX:BOT) completed a world-first randomised clinical study to establish the use of cannabinoids in treating skin disease. Its interim results confirm that its drug, BTX 1308 had significant anti-inflammatory and immune modulating activity in treating skin disease. The data also supports an anti-inflammatory response in acne and dermatitis. Botanix (ASX:BOT) shares are trading 7.4 per cent higher at $0.14 at noon.

IPOs

Software automation between businesses and people platform. Whispir Limited (ASX:WSP) started trading today. It issued shares at $1.60 and started trading on the ASX at $1.73 and is currently trading at $1.55

Best and worst performers

The best-performing sector is S&P/ASX Energy, adding 2.5 per cent, with all following higher except S&P/ASX A-REIT, which was 0.3 per cent lower at noon.

The best performing stock in the S&P/ASX 200 is Nanosonics Limited (ASX:NAN), rising 6.3 per cent to $5.63, followed by shares in Bluescope Steel Limited (ASX:BSL) and News Corporation (ASX:NWS).

The worst performing stock in the S&P/ASX 200 is Pilbara Minerals Limited (ASX:PLS),dropping 4.2 per cent to $0.57, followed by shares in Link Administration Holdings Limited (ASX:LNK) and Resolute Mining Limited (ASX:RSG).

Asian markets

Japan’s Nikkei has added 1.8 per cent, Hong Kong’s Hang Seng has gained 2.2 per cent and the Shanghai Composite has added 1.5 per cent.

Commodities and the dollar

Gold is trading at US$1,344 an ounce.
Iron Ore price gained 3.8 per cent to $112.28
Iron ore futures are pointing to a rise of 5 per cent.
One Australian dollar is buying 68.75 US cents.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.