Woolworths Group (ASX:WOW) Board appointment: Aus shares 0.6% up at noon

Market Reports

by Ortenzia Borre

The Australian share market opened higher this morning and is now trading 0.6 per cent higher at noon. Clinuvel Pharmaceuticals (ASX:CUV) is leading the top 200 gains at midday, up over 7 per cent, with Resolute Mining (ASX:RSG) coming in last.

The S&P/ASX 200 index is 33 points up higher at 5,912. On the futures market the SPI is 60 points up.

Company news

Woolworths Group (ASX:WOW) has appointed Maxine Brenner to its Board as a non-executive director. Ms Brenner is currently a non-executive director of Orica, Origin Energy and Qantas, and a member of the University of NSW Council. She is also an independent director of Growthpoint Properties Australia. Ms Brenner’s former directorships include Treasury Corporation of NSW, Bulmer Australia, Neverfail Springwater and Federal Airports Corporation, where she was deputy chair. She has also served as a council member of the State Library of NSW and as a member of the Takeovers Panel.
Ms Brenner will step into the role on 1 December and is expected to chair the Sustainability Committee following the retirement of Jillian Broadbent, as well as joining the Audit, Risk Management and Compliance Committee. Shares in Woolworths Group (ASX:WOW) are trading at 0.2 per cent lower at $36.74.

Lynas Corporation (ASX:LYC) has raised approximately $114 million. At $2.30 per new share, the retail entitlement offer closed on Monday, and together with the institutional placement and institutional component, the total amount raised was $425 million. Approximately 49 million new shares were issued and are expected to trade on the ASX on a normal settlement basis on Tuesday 15 September 2020. Shares in Lynas Corporation (ASX:LYC) are trading at 0.2 per cent lower at $2.39.

Best and worst performers

The best-performing sector is Information Technology, adding 2.7 per cent, while the worst performing sector is Real Estate Investment Trusts, shedding 0.5 per cent.

The best performing stock in the S&P/ASX 200 is Clinuvel Pharmaceuticals, rising 7.1 per cent to $21.09, followed by shares in Netwealth Group (ASX:NWL) and Eagers Automotive (ASX:APE).

The worst performing stock in the S&P/ASX 200 is Resolute Mining (ASX:RSG), dropping 8.5 per cent to $0.97, followed by shares in Scentre Group (ASX:SCG) and Abacus Property Group (ASX:ABP).

Commodities and the dollar

Gold is trading at US$1,944 an ounce.
The iron ore price fell 2 per cent to US$126.54.
Its futures are pointing to a fall of 0.8 per cent.
One Australian dollar is buying 72.66 US cents.

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