Scentre Group (ASX:SCG) collects $183 million in rent: Aus shares 1% higher at noon

Market Reports

by Ortenzia Borre

The Australian share market has had a stellar start to the morning opening higher, and is now trading almost 1 per cent up at noon.

The S&P/ASX 200 index is 56 points higher, just over the benchmark, at 6,001. On the futures market the SPI is 74 points up. 

Company news

Scentre Group (ASX:SCG) has collected $183 million of rent in August. This represents 86% of monthly gross rental billings. As part of the recent results, Scentre Group referred to the trajectory of cash collections for the month. It’s a 4 per cent increase from the previous month and over triple the amount from April. It comes after Scentre Group (ASX:SCG) saw their profit plummet due to the pandemic which saw an ugly rent battle play out in public when Mosaic Brands' (ASX:MOZ) retailers were locked out of their stores due to payment disputes. Shares in Scentre Group (ASX:SCG) are trading 3.9 per cent higher at $2.27 cents.

Best and worst performers 

The best-performing sector is Health Care, adding 2.2 per cent, while the worst performing sector is Consumer Staples shedding 0.3 per cent. 

The best performing stock in the S&P/ASX 200 is Nufarm (ASX:NUF), rising 6.5 per cent to $4.10 followed by shares in Perenti Global (ASX:PRN) and Chorus (ASX:CNU)

The worst performing stock in the S&P/ASX 200 is Gold Road Resources (ASX:GOR), dropping 2.4 per cent to $1.51, followed by shares in St Barbara (ASX:SBM) and McMillan Shakespeare (ASX:MMS)

Commodities and the dollar 

Gold is trading at US$1,927 an ounce. 
Iron ore price rose 0.2 per cent to US$129.11 
Iron ore futures are pointing to a rise of 0.2 per cent. 
One Australian dollar is buying 72.79 US cents.