It’s been a record day on the Australian share market after it soared past the 7000 point barrier in early trade closing 0.7% higher on the back of the US and China trade deal, with the Dow also reaching a record high above 29,000.
led the gains while the worst performer was Super Retail Group (ASX:SUL)
, after the company was subject to a broker note downgrading the retailer’s shares amid concerns the group could be the next retailer to be negatively impacted by the bushfires with their exposure to the outdoor and camping markets.The S&P/ASX200 index
At the closing bell the S&P/ASX 200 index closed 47 points higher to finish at 7,042.Futures market
Dow futures are suggesting a rise of 36 points.
S&P 500 futures are eyeing a lift of 5 points.
The Nasdaq futures are eyeing a gain of 14 points.
And the ASX200 futures are eyeing a 50 point rise tomorrow morning.Local Economic news
The ABS has released home loan figures and overseas arrivals and departures figures for the month of November.
Overseas visitor arrivals to Australia increased 0.1% since the previous month to 797,300 trips with Australian residents returning increasing 0.5% since the previous month to 966,000 trips.
The value of new loan commitments for housing rose by 1.8 per cent.Company news
Acrow Formwork and Construction (ASX:ACF)
has been awarded the contract to supply the Acrow Powershore high load shoring system, to be used as part of the formwork solution for the construction of the Sydney Metro Barangaroo Station. Delivery of the product is set for late April to early May with the sale estimated to be worth between $2 and $3 million when completed. Shares in Acrow Formwork and Construction (ASX:ACF)
closed 3 per cent higher at 35 cents.
Looking at some more headlines:
US momentum continues with the company signing Major League Rugby (MLR), the premier rugby union competition in North America.
Global software company LiveTiles (ASX:LVT)
has recorded annualised recurring revenue (ARR) has grown 130 per cent over the year to December 31, 2019.
Neo lender Wisr (ASX:WZR)
has completed it’s $33.5 million raise.Best and worst performers of the day
The best performing sector was Info Tech adding 1.7 per cent while the worst performing sector was Utilities, shedding 0.4 per cent.
The best performing stock in the S&P/ASX 200 was Challenger (ASX:CGF)
rising 5.6 per cent to close at $.8.80 cents. Shares in PolyNovo (ASX:PNV)
and Mayne Pharma Group (ASX:MYX)
The worst performing stock in the S&P/ASX 200 was Super Retail Group (ASX:SUL)
, dropping 6 per cent to close at $9.77. Shares in Pilbara Minerals (ASX:PLS)
and Domain (ASX:DOM)
followed lower.Asian markets
Japan’s Nikkei is flat, Hong Kong’s Hang Seng is steady and the Shanghai Composite has lost 0.3 per cent.Commodities and the dollar
Gold is trading higher at US$1,556 an ounce.
Iron ore has lost 0.6 per cent to $94.66.
Iron ore futures are flat.
Light crude has added 28 cents to US$58.12 a barrel.
One Australian dollar is buying 69.08 US cents.