Cochlear (ASX:COH) appoints former Fisher & Paykel CEO to the board: ASX closed 0.3% lower

Market Reports

by Rachael Jones

It has been a rollercoaster day of trade for the Australian share market. The local bourse managed to close 0.3 per cent lower. Companies to lose the most ground were Avita Medical (ASX:AVH), Metcash (ASX:MTS) and Perenti Global (ASX:PRN). Communications satellite technology company Speedcast International (ASX:SDA) made gains today. As for the sectors today Materials led the day, the only sector making gains today and Real Estate Investment Trust fell lower.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 23 points down to finish at 6,707.

Futures market

Dow futures are suggesting a rise of 15 points.
S&P 500 futures are eyeing a rise of 3 points.
The Nasdaq futures are eyeing a lift of 13 points.
And the ASX200 futures are eyeing a 14 point fall tomorrow morning.

Economic News

ABS

Filled jobs in the Health care and social assistance industry increased by 8.2 per cent over the year to September 2019, more than any other industry, according to figures released today by the Australian Bureau of Statistics (ABS).

Company news

Cochlear (ASX:COH) today announced the appointment of Michael Daniell to the board - former Managing Director and CEO of Fisher & Paykel Healthcare Corporation. He was responsible for the global business and operations including the design, manufacture and marketing of innovative products and systems for use in respiratory care, acute care and the treatment of obstructive sleep apnea. Shares in Cochlear (ASX:COH) closed 1.4 per cent lower at $227.42.

Centuria Metropolitan REIT (ASX:CMA) has acquired the NewActon Nishi Building commercial office property in Canberra for $256 million. A fully underwritten institutional placement to raise $185 million at an issue price of $3.00 per CMA unit will partially fund the acquisition.

Global logistics solutions group, WiseTech Global (ASX:WTC) has bought Ready Korea, a customs solutions provider in South Korea. Their customers include FedEx, Samsung, Siemens, Johnson & Johnson, and many other organisations.

Wisr (ASX:WZR) is pleased to announce the appointment of former Commonwealth Bank of Australia (CBA) General Manager of Unsecured Risk, Joanne Edwards, to the Company’s newly created role of Chief Risk and Data Officer.

And Starpharma's (ASX:SPL) prostate cancer drug DEP cabazitaxel has successfully completed its phase one trials. They will now move on to phase 2. 

IPO

Adelaide based Aerometrex (ASX:AMX) started trading today. They are a professional aerial mapping business, specialising in aerial photography as well as LiDAR and aerial surveying. They floated with an issue price of $1.00, opened at $2.00 and closed at $1.84.

Best and worst performers of the day

The best performing sector was Materials adding 0.5 per cent while the worst performing sector was Real Estate Investment Trust, shedding 0.9 per cent.

The best performing stock in the S&P/ASX 200 was Speedcast International (ASX:SDA), rising 5.6 per cent to close at $0.76. Shares in Orocobre (ASX:ORE) and The A2 Milk company (ASX:A2M) followed higher.

The worst performing stock in the S&P/ASX 200 was Avita Medical (ASX:AVH), dropping 4.4 per cent to close at $0.55. Shares in Metcash (ASX:MTS) and Perenti Global (ASX:PRN) followed lower.

Asian markets

Lower: Japan’s Nikkei has down 0.1 per cent, Hong Kong’s Hang Seng has also lost 0.1 per cent and the Shanghai Composite has lost 0.2 per cent.

Commodities and the dollar

Gold is trading at US$1,462 an ounce.
Iron ore price has added 5.1 per cent at US$93.93.
Iron ore futures are pointing to a lift of 3 per cent.
Light crude is US$0.11 down at US$58.91 a barrel.
One Australian dollar is buying 68.25 US cents.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.