The Australian share market touched new highs today, with the top 500 companies, All Ordinaires, closing at a new all-time high, 6,862 points.
As for the S&P ASX 200, that hit 6,783 points earlier in the day, just 45 points off the all-time high the top 200 stocks hit on 6,828.7 on 1 November 2007.
That was the same day the top 500 stocks, (All Ords) have last been this high, when it closed at 6,853.6 points.
Six of the major sectors closed higher today with the S&P/ASX 200 index closing 52 points higher or 0.8 per cent higher, extending its gains to close at 6,777 points.
In terms of global impetus, Boris Johnson will begin the process of forming his government, officially succeeding Theresa May as Prime Minister, as expected, and markets like what’s expected.
In the US, all three major indices closed higher, with the S&P500 up the most 0.7 per cent.Futures market
Dow futures are suggesting a fall of 11 points.
S&P 500 futures are eyeing a dip of 3 points.
The Nasdaq futures are eyeing a fall of 27 points.
And the ASX200 futures are eyeing a 0.8 per cent riseCompany news
A Perpetual (ASX:PPT)
director, Phillip Bullock and his partner (Kerry Bullock) have increased their stake in Perpetual managed investments, including in Perpetual’s Credit Income. Phillip Bullock has been on PPT’s board since 2010. He was previously vice president for the systems and technology group at IBM Asia Pacific and prior to that he was CEO and MD of IBM Australia and NZ He is currently a director of Hills (ASX:HIL)
. Morningstar has Perpetual's(ASX:PPT)
stock as a hold. Today, shares in the fund manager, Perpetual (ASX:PPT)
closed 2.5 per cent higher at $38.86.
Tabcorp Holdings (ASX:TAH)
and its subsidiary UBET QLD released a statement referring to the Claim made by Racing Queensland regarding the point of consumption tax. The Claim relates how much the point of consumption tax imposed on UBET is borne by UBET or Racing Queensland.
Iluka Resources (ASX:ILU)
produced 20 per cent less mineral sands year-to-date to June 2019, compared to the same time last year.
Lithium producer, Liontown Resources (ASX:LTR)
has signed a formal sale agreement with Westgold Resources (ASX:WGX)
to buy its fully owned Buldania Lithium Project’s royalties in WA for $2 million in cash, buying both revenues and royalties.Best and worst performers of the day
The best performing sector was Telco Services, adding 1.7 per cent while the worst performing sector and the only sector in the red was Materials, shedding 0.5 per cent.
The best performing stock in the S&P/ASX 200 was Eclipx Group (ASX:ECX)
, rising 7.1 per cent to close at $1.59. Shares in Vocus Group (ASX:VOC)
and Domain Holdings Australia (ASX:DHG)
The worst performing stock in the S&P/ASX 200 was Regis Resources (ASX:RRL)
, dropping 11.8 per cent to close at $5.71. Shares in Iluka Resources (ASX:ILU)
and Sandfire Resources (ASX:SFR)
followed lower.Asian markets
Japan’s Nikkei has added 0.3 per cent, Hong Kong’s Hang Seng has gained 0.7 per cent and the Shanghai Composite has added 0.7 per cent.Commodities and the dollar
Gold is trading at US$1,421 an ounce.
Iron ore price fell 0.4 per cent to US$117.82.
Iron ore futures are pointing to a fall of 2.2 per cent.
Light crude is US$0.95 up at US$57.17 a barrel.
One Australian dollar is buying 69.86 US cents.