Fourth straight session closing up: ASX closed 0.2% higher

Market Reports

by Rachael Jones

It has been a rollercoaster of a day  for the Australian share market, the local bourse managed to close 0.2 per cent higher. Shares in Perseus Mining (ASX:PRU) did well today after they released their sustainability report from 2019. The best performing sector was Utilities adding 2.2 per cent while the worst performing sector was Industrials,

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 11 points higher to finish at 5,966.

Futures market

Dow futures are suggesting a rise of 8 points.
S&P 500 futures are eyeing a steady start.
The Nasdaq futures are eyeing a lift of 19 points.
And the ASX200 futures are eyeing a steady start for tomorrow morning.

Company news

Cromwell Property Group (ASX:CMW) has told shareholders take no action in relation to a proportional takeover offer from ARA Asset Management. The Cromwell Board considers the Proportional Offer to be an opportunistic attempt to gain control of Cromwell without offering to acquire all stapled securities or paying an appropriate control premium to Cromwell securityholders. The Cromwell Board is being advised by Goldman Sachs, UBS AG, Australia Branch and MinterEllison. Cromwell Property. Shares in Cromwell Property Group (ASX:CMW) closed flat at $0.94.

Freedom Foods Group (ASX:FNP) today announced that the Managing Director and CEO, Rory Macleod, is on leave pending a further announcement that is expected to be made early next week. Perry Gunner has been appointed Executive Chairman. The Board has appointed Brendan Radford, Commercial Director, as Acting CEO.

Village Roadshow’s (ASX:VRL) Gold Coast theme parks Warner Bros. Movie World, Sea World, Wet'n'Wild and Paradise Country have had their Covid Safe plans approved by the Queensland Government and are able to reopen under those plans at up to 50 per cent capacity.

Best and worst performers of the day

The best performing sector was Utilities adding 2.2 per cent while the worst performing sector was Industrials, shedding 1.7 per cent.

The best performing stock in the S&P/ASX 200 was Perseus Mining (ASX:PRU), rising 7.1 per cent to close at $1.28. Shares in Evolution Mining (ASX:EVN) and Orocobre (ASX:ORE) followed higher.

The worst performing stock in the S&P/ASX 200 was Viva Energy (ASX:VEA), dropping 3.7 per cent to close at $1.85. Shares in Lynas Corporation (ASX:LYC) and Transurban Group (ASX:TCL) followed lower.

Asian markets

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

Commodities and the dollar

Gold is trading at US$1,769 an ounce.
Iron ore price is 1.1 down at US$100.62.
Iron ore futures are pointing to a rise of 1.6 per cent.
Light crude is US$0.03 lower at US$40.34 a barrel.
One Australian dollar is buying 69.44US cents.