The Australian share market opened higher this morning and is now trading 0.7 per cent higher at noon.
The S&P/ASX 200 index is 42 points higher at 6,158. On the futures market the SPI is 50 points up.
Centuria Industrial REIT (ASX:CIP) has expanded it’s portfolio, acquiring two industrial properties for a total of $32.5 million in Melbourne and Queensland. The real estate company acquired Beacon Lighting's distribution facility in Derrimut, Victoria for $20 million under a triple-net lease structure, and Brisbane’s Breezeway Australia's head office and manufacturing facility in Coorparoo for $12.5 million on an initial yield of 6.7 per cent. The transactions add to the three-asset portfolio acquisition announced on 5 August 2020, anchored by the $416.7m Telstra Data Centre. Shares in Centuria Industrial REIT (ASX:CIP) are flat at $3.15.
Ardent Leisure Group (ASX:ALG) has reported the company’s total revenue fell 17.6 per cent to $398.3 million due to the temporary closure of Main Event centres and Theme Parks in response to government imposed social distancing and other measures. The results were significantly impacted by COVID-19 with the leisure group stating that prior to the pandemic, Main Event and Theme Parks reported revenue growth of 5.0% (in USD) and 4.7%, respectively, for the 35 weeks up to the end of February 2020 compared to prior corresponding period. Theme Parks Chief Executive Officer, John Osborne, said prior to the pandemic, there were several positive trends resulting in rapidly improving financial performance. The company also confirmed there would be no final dividend for F20. Shares in Ardent Leisure Group (ASX:ALG) are trading 2.2 per cent lower at 45 cents.
Best and worst performers
The best-performing sector is Materials, adding 1.5 per cent, while the worst performing sector is Energy shedding 0.5 per cent.
The best performing stock in the S&P/ASX 200 is Steadfast (ASX:SDF), rising 7.4 per cent to $3.69, followed by shares in Bega Cheese (ASX:BGA) and Perseus Mining (ASX:PRU).
The worst performing stock in the S&P/ASX 200 is Link Administration Holdings (ASX:LNK), dropping almost 8.6 per cent to $4.02, followed by shares in Appen (ASX:APX) and PolyNovo (ASX:PNV).
Commodities and the dollar
Gold is trading at US$1,943 an ounce.
Iron ore price rose 1 per cent to US$124.20
Iron ore futures are pointing to a rise of 1.2 per cent.
One Australian dollar is buying 72.32 US cents.