All sectors in the black: ASX tracking 1.3% higher at noon

Market Reports

by Rachael Jones

The Australian share market shot up at the open after positivity from global share markets. It is now tracking 1.3 per cent higher at noon. Pro Medicus (ASX:PME) rose as did Netwealth Group (ASX:NWL) and Nearmap (ASX:NEA). Declines were seen in Evolution Mining (ASX:EVN), and Ingenia Communities Group (ASX:INA). The best-performing sector is Infotech, while the worst performing sector is Materials.

The S&P/ASX 200 index is 89 points up at 6,779. On the futures market the SPI is 89 points higher.

Company news

Tower (ASX:TWR) today announced that Tower Insurance Limited has settled its purchase of Youi New Zealand. Ownership of Youi New Zealand’s approximately 34,000 in-force policies have already transferred to Tower. Youi customers remain covered under their existing terms for the remainder of their contract. Shares in Tower (ASX:TWR) are trading 0.8 per cent higher at $0.68.

Best and worst performers

The best-performing sector is Infotech, adding 2.6 per cent, while the worst performing sector is Materials, gained the least at 0.9 per cent.

The best performing stock in the S&P/ASX 200 is Pro Medicus (ASX:PME) rising 4.7 per cent to $23.34, followed by shares in Netwealth Group (ASX:NWL) and Nearmap (ASX:NEA).

The worst performing stock in the S&P/ASX 200 is Evolution Mining (ASX:EVN), dropping 1.9 per cent to $3.68, followed by shares in Ingenia Communities Group (ASX:INA) and Newcrest Mining (ASX:NCM).

Commodities and the dollar

Gold is trading at US$1,531 an ounce.
Iron ore futures are pointing to a lift of 0.6 per cent.
One Australian dollar is buying 69.86 US cents.