The Australian share market ended 0.4 per cent higher today, snapping losing streak after having closed in the red on Tuesday and Wednesday.
The materials space continued to shine today with iron miner Fortescue Metals (ASX:FMG), continuing to climb through the session, finishing 5.5 per cent higher, while some of the gold majors ended underwater with the gold price slipping slightly overnight, but holding firm on six-year highs.
At the closing bell the S&P/ASX 200 index closed 0.4 per cent or 26 points higher to finish at 6,666.
Dow futures are suggesting a rise of 58 points.
S&P 500 futures are eyeing a rise of 9 points.
The Nasdaq futures are eyeing a lift of 33 points.
And the ASX200 futures are eyeing a 31 point rise.
Cannabinoid medical and dermatology company, Botanix Pharmaceuticals (ASX:BOT) shares rallied 9 per cent higher today, and are trading 76 per cent higher year-on-year. I sat down with President, Vince Ippolito, earlier. He joined the small biotech company Botanix after developing and commercialising another an atopic dermatitis, non-steroidal product with a start-up that was later bought by Pfizer for $5.2 billion. Earlier when I sat down with him, he revealed the company, Botanix is focusing on its two successful trials that killed both Staph, MRSA, and psoriasis. Shares in Botanix Pharmaceuticals (ASX:BOT) closed 8.8 per cent higher at $0.18
Cromwell Property Group (ASX:CMW) announced its raised $375 million via an underwritten institutional capital raise, at an price of $1.15 per new share. The capital enables Cromwell to pursue over $1.0 billion of acquisition opportunities that are in either exclusive due diligence or advanced negotiations, plus over $1 billion of value-add development opportunities.
Bubs Australia (ASX:BUB) has entered into a Joint Venture with China's largest mother and baby chain store, Kidswant. It’s expecting retail sales of $6 million in the first year by selling its organic food products in 275 Kidswant stores.
Bravura Solutions (ASX:BVS) has decided to beef up its bid again for GBST Holdings (ASX:GBT) to $3 per share. It follows Bravura (ASX:BVS) bumping up its takeover by 8 per cent to $2.72 per share last week. Bravura doesn’t intend to go higher than $3 per share.
Best and worst performers of the day
The best performing sector was S&P/ASX Materials adding 1.5 per cent while the worst performing sector was S&P/ASX A-REIT, gaining 2.2 per cent.
The best performing stock in the S&P/ASX 200 was Pact Group Holdings Ltd (ASX:PGH), rising 11.4 per cent to close at $2.54. Shares in Mayne Pharma Group Limited (ASX:MYX) and Ardent Leisure Group Limited (ASX:ALG) followed higher.
The worst performing stock in the S&P/ASX 200 was Cromwell Property Group (ASX:CMW), dropping 7.6 per cent to close at $1.16. Shares in Fletcher Building Limited (ASX:FBU) and Vicinity Centres (ASX:VCX) followed lower.
Japan’s Nikkei has added 1.2 per cent, Hong Kong’s Hang Seng has gained 1 per cent and the Shanghai Composite has added 0.4 per cent.
Commodities and the dollar
Gold is trading at US$1,405 an ounce.
Iron ore price rose 2.8 per cent to US$117.63
Iron ore futures are pointing to a rise of 3.5 per cent.
Light crude is US$1.38 up at US$59.21 a barrel.
One Australian dollar is buying 69.91 US cents.