WiseTech (ASX:WTC) shares dropped 27.3%: ASX closed 0.4% higher

Market Reports

by Rachael Jones

After a flat start the Australian share market rose after lunchtime trading and managed to close 0.4 per cent higher. Hearing device manufacturer Cochlear’s (ASX:COH) shares jumped over $250. Domino’s (ASX:DMP) shares also shot up today on the release of their half year results. Wisetech Global (ASX:WTC) shares are down over 27 per cent after downgrading its guidance - they blame coronavirus.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 31 points higher to finish at 7,145.

Futures market

Dow futures are suggesting a rise of 91 points.
S&P 500 futures are eyeing a rise of 10 points.
The Nasdaq futures are eyeing a lift of 32 points.
And the ASX200 futures are eyeing a 47 point rise tomorrow morning.

Company news

Caltex Australia (ASX:CTX) confirms that it has received a takeover offer from EG Group to acquire the company's retail business for $3.9 billion. Securities to be issued in an entity to be listed on the ASX which will own the remaining assets of Caltex, including the existing Fuel & Infrastructure business, and international trading and shipping operations. Caltex shareholders would receive approximately $15.62 cash and a security in Ampol for each Caltex share they hold. Shares in Caltex Australia (ASX:CTX) closed 0.8 per cent higher at $34.77.

Fortescue (ASX:FMG) has reported record first half revenue of US$6.5 billion. Net profit after tax rose by a 281 per cent from $644 million for the first half of 2019 to US$2.5 billion for the first half. Earnings increased from $1.6 billion to $4.2 billion.

Crown Resorts (ASX:CWN) has reported its normalised net profit has dipped 11 per cent to $172.7 million for the first half of 2020 when compared to the same time last year. They say the results were hit by downturn in VIP players and coronavirus.

Domino's Pizza (ASX:DMP) see global food sales increase by $151.3 million to $1.58 billion, that’s up 10.6 per cent on the prior year. They are now on track to pass $3 billion in global food sales this financial year.

Best and worst performers 

The best performing sector was healthcare adding 2.9 per cent while the worst performing sector was Infotech, shedding 3.1 per cent.

The best performing stock in the S&P/ASX 200 is Cleanaway Waste Management (ASX:CWY) rising 16.7 per cent to $2.24, followed by shares in Cochlear (ASX:COH) and Webjet (ASX:WEB).

The worst performing stock in the S&P/ASX 200 is Wisetech (ASX:BRG), dropping 27.3 per cent to $21.40, followed by shares in EML Payments (ASX:EML) and Tabcorp Holdings (ASX:TAH).

Asian markets

Higher: Japan’s Nikkei has added almost 1 per cent, Hong Kong’s Hang Seng has added 0.5 per cent and the Shanghai Composite has added 0.4 per cent.

Commodities and the dollar

Gold is trading at US$1,603 an ounce.
Iron ore price has shed 0.3 per cent at US$90.18.
Iron ore futures are pointing to a rise of 0.3 per cent.
Light crude is US$0.07 up at US$52.36 a barrel.
One Australian dollar is buying 66.93 US cents.