A positive day of trade for the first day of the new year: ASX closes 0.6% higher

Market Reports

by Rachael Jones

It has been a positive day of trade for the Australian share market in the first session of the new year, lifted by banks and gold miners to close 0.6 per cent higher. As for the sectors today Real Estate Investment Trust led the day and utilities closed the day at the bottom of the pile.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 37 points higher to finish at 5,934.

Futures market

Dow futures are suggesting a fall of 158 points.
S&P 500 futures are eyeing a fall of 13 points.
The Nasdaq futures are eyeing a dip of 31 points.
And the ASX200 futures are eyeing a 11 point rise tomorrow morning.

Local economic news

The number of dwellings approved fell 16.4 per cent in May, in seasonally adjusted terms, according to data released by the Australian Bureau of Statistics (ABS) today.

Company news

Rio Tinto (ASX:RIO) has added a new role to its executive committee as it considers the next phase of its transformation. Peter Toth will become Group executive, Strategy and Development with a focus on leading Rio Tinto’s transformation efforts around portfolio, climate change, and closure, working in partnership with the product group and commercial teams. He will also assume responsibility for Rio Tinto Exploration and Ventures. Stephen McIntosh, Group executive of Growth & Innovation and Health, Safety & Environment (HSE) has decided to retire after more than 30 years with Rio Tinto. Mark Davies will assume the role of Group executive, Safety, Technical and Projects. Peter and Mark will report to chief executive, Jean-Sebastien Jacques. Shares in Rio Tinto (ASX:RIO) closed 0.8 per cent lower at $97.15.

Oil Search (ASX:OSH) has recently completed a review of its organisation and cost structure and is set to further reduce its work force by an extra 137 people.

LendLease (ASX:LLC) says total unaudited statutory loss expected to be in the range of $230 to $340 million after tax. Core profit after tax is expected to be in the range of $50 million to $150 million reflecting the impact of Covid-19 impacts across the Group.

Telix Pharmaceuticals (ASX:TLX) reports that the US Food and Drug Administration (FDA) has granted Breakthrough Therapy (BT) designation for Telix’s renal cancer imaging product.

Best and worst performers of the day

The best performing sector was Real Estate Investment Trust adding 2.5 per cent while the worst performing sector was Healthcare, shedding 0.8 per cent.

The best performing stock in the S&P/ASX 200 was NextDC (ASX:NXT), rising 8.1 per cent to close at $10.68. Shares in Corporate Travel Management (ASX:CTD) and Webjet (ASX:WEB) followed higher.

The worst performing stock in the S&P/ASX 200 was TUAS (ASX:TUA), dropping 24.4 per cent to close at $0.51. Shares in Wisetech Global (ASX:WTC) and Suncorp Group (ASX:SUN) followed lower.

Asian markets

Mixed: Japan’s Nikkei has lost 0.8 per cent, Hong Kong’s Hang Seng was closed today and the Shanghai Composite has added 0.6 per cent.

Commodities and the dollar

Gold is trading at US$1,785 an ounce.
Iron ore price is 0.4 down at US$99.43.
Iron ore futures are pointing to a fall of 0.8 per cent.
Light crude is US$0.30 higher at US$39.64 a barrel.
One Australian dollar is buying 68.97US cents.