The Australian share market rose at the open and closed 0.98 per cent up at the end of today’s trade.
Breaking Company News
In breaking news this afternoon, The Star Entertainment Group (ASX:SGR) has confirmed a patron who visited The Star Sydney has returned a positive test for COVID-19. The Star issued a statement saying they are working closely with NSW Health to respond to the information, including the conduct of contact tracing.
The S&P/ASX200 index
At the closing bell the S&P/ASX 200 index closed 58 points higher to finish at 5,978.
Dow futures are suggesting a rise of 202 points.
S&P 500 futures are eyeing a lift of 19 points.
The Nasdaq futures are eyeing a rise of 66 points.
And the ASX200 futures are eyeing a 69 point lift tomorrow morning.
Citi has rated BWX (ASX:BWX) as a Buy. Regulations for selling cosmetics in China are about to change and the broker's analysts see BWX as one of the beneficiaries. Current management at the company has de-prioritised China, making up just 5% of sales in H1, but Citi still sees a long term opportunity emerging. Citi has stated that China is the second largest cosmetics market globally. Shares in BWX (ASX:BWX) closed 2.7 per cent lower at $3.57.
Looking at some more headlines:
TechnologyOne (ASX:TNE) has responded to a piece in today’s the Australian Financial Review saying claims made by GMT Research are false and misleading.
Oil Search (ASX:OSH) flags $US400 million in impairment charges.
Cochlear (ASX:COH) CFO Brent Cubis has resigned from the company.
Best and worst performers of the day
The best performing sector was Utilities adding 2.7 per cent while the worst performing sector was Information Technology shedding 1 per cent.
The best performing stock in the S&P/ASX 200 was Platinum Asset Management (ASX:PTM), rising 6.8 per cent to close at $3.95. Shares in Virgin Money UK (ASX:VUK) and Netwealth Group (ASX:NWL) followed.
The worst performing stock in the S&P/ASX 200 was Avita Theraputics (ASX:AVH), dropping 9.4 per cent to close at $7.14 cents. Shares in TechnologyOne (ASX:TNE) and Mesoblast(ASX:MSB) followed lower.
All higher: Japan’s Nikkei has added 2.2 per cent, Hong Kong’s Hang Seng also added 1.1 per cent and the Shanghai Composite is 1.9 per cent up.
Commodities and the dollar
Gold is trading at US$1,807 an ounce.
Iron ore price is steady at US$106.32.
Iron ore futures are pointing to a rise of 4.7 per cent.
Light crude is US$0.26 down at US$40.50 a barrel.
One Australian dollar is buying 69.75 US cents.