Shares on the up for waste management company Cleanaway (ASX:CWY): ASX closed 0.7% lower

Market Reports

by Rachael Jones

It has been a negative day of trade for the Australian share market after a drop at the open the local bourse failed to gain momentum and closed 0.7 per cent lower. Shares in Cleanaway waste management (ASX:CWY) closed higher today. Bravura Solutions (ASX:BVS) dropped as did shares in Whitehaven Coal (ASX:WHC).

As for the sectors today Healthcare closed up and Telcos closed lower.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 45 points lower to finish at 6,116.

Futures market

Dow futures are suggesting a fall of 49 points.
S&P 500 futures are eyeing a dip of 2 points.
The Nasdaq futures are eyeing a rise of 14 points.
And the ASX200 futures are eyeing a 48 point fall tomorrow morning.

Local economic news

Construction work done in the June quarter fell 0.7 per cent quarter on quarter and 2.2 per cent compared to the June quarter last year on a seasonally-adjusted basis.
The total value of work done was $50.1 billion.

Company news

Cleanaway Waste Management (ASX:CWY) today announced its financial results for the year ended 30 June 2020 showing NPAT of $152.9 million, up 8.7 per cent. Statutory NPAT of $112.6 million, down 6.6 per cent on the prior corresponding period. EBIT of $251.9 million, up 4.6 per cent. Success comes thanks to the diversity of earnings from solid waste services, industrial waste services and liquid waste. Shares in Cleanaway Waste Management (ASX:CWY) closed 8.5 per cent higher at $2.43.

Regis Resources (ASX:RRL) record net profit after tax of $200 million, with a net profit after tax margin of 26 per cent and a Return on Equity of 24 per cent. They saw revenue of $757 million with gold sold at an average price of $2,200/oz.

Internet lottery business, Jumbo Interactive (ASX:JIN), today released full year results showing revenue rose 9 per cent to $71 million. Covid-19 helped drive players online.

Zip Co (ASX:Z1P) has today marked the official launch of Zip Business by partnering with eBay Australia. 40,000 Australian small and medium-sized businesses now have the opportunity to access working capital via the eBay marketplace.

Best and worst performers of the day

The best-performing sector is Healthcare adding 0.2 per cent, while the worst performing sector is Telcos losing almost 2 per cent.

The best performing stock in the S&P/ASX 200 is Cleanaway waste management (ASX:CWY) rising 8.5 per cent to $4.01, followed by shares in Avita (ASX: Therapeutics (ASX:AVH) and Austal (ASX:ASB).

The worst performing stock in the S&P/ASX 200 is Whitehaven Coal (ASX:WHC) dropping 18.1 per cent to $1.02, followed by shares in Bravura Solutions (ASX:BVS) and Polynovo (ASX:PNV).

Asian markets

Japan’s Nikkei is steady, Hong Kong’s Hang Seng has lost 0.1 per cent and the Shanghai Composite has lost 1.5 per cent.

Commodities and the dollar

Gold is trading at US$1,921 an ounce.
Iron ore price is 1.8 down at US$122.99..
Iron ore futures are pointing to a rise of 0.1 per cent.
Light crude is US$0.07 lower at US$43.87 a barrel.
One Australian dollar is buying 71.94US cents.