Shares in Unibail-Rodamco-Westfield (ASX:URW) sky-rocket: ASX closed 0.7% higher

Market Reports

by Rachael Jones

The Australian share market managed to hit a high not seen since March this year. They closed 0.7 per cent higher. Shares in Unibail-Rodamco-Westfield (ASX:URW) did exceptionally well today closing over 43 per cent higher. Travel companies hit by coronavirus also did well today with Corporate Travel Management (ASX:CTD) rising. As for the sectors today Healthcare led the day and Energy fell lower.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 42 points higher to finish at 6,341.

Futures market

Dow futures are suggesting a fall of 211 points.
S&P 500 futures are eyeing a dip of 17 points.
The Nasdaq futures are eyeing a fall of 59 points.
And the ASX200 futures are eyeing a 22 point rise tomorrow morning.

Local economic news

NAB said that business conditions edged 1pt higher in October to +1 index points, with the improvement was led by a large gain in Victoria.

Company news

Viva Leisure Limited (ASX:VVA) says locations now open and trading after the reopening of metro Victoria. It’s the first time since 23 March 2020 that 100 per cent of Viva Leisure facilities in the ACT, New South Wales, Queensland and Victoria were open for business. While there are still usage restrictions in Victoria (20 persons per venue), the next (and last) step of reopening which occurs from midnight on 22 November 2020 will mean all clubs will be able to trade essentially without any significant restrictions. Viva Leisure operates health clubs (gymnasiums) within the health and leisure industry. Shares in Viva Leisure Limited (ASX:VVA) closed 7.1 per cent higher at $2.87.

Vitalharvest (ASX:VTH) received a conditional proposal from an agricultural fund managed by Macquarie Infrastructure and Real Assets (MIRA) to acquire the trust's units at $1 a share by way of a scheme or to purchase the assets for $300 million in cash.

Tilt Renewables Limited (ASX:TLT) reports that Dundonnell Wind Farm in Western Victoria has been cleared being cleared, today, to increase output to 226MW with all 80 turbines able to operate and export energy within that total output cap.

Transurban (ASX:TCL) have failed in their bid to acquire the Elizabeth River Crossings asset in south-eastern Virginia, USA.

IPO

Data centre and cloud hosting solutions company DC Two (ASX:DC2) started trading today at $0.40. They issued at $0.20, and closed at $0.59.

Duke Exploration Limited (ASX:DEX) started trading today, they issued at $0.25, started trading at $0.29 and closed at $0.27.

Best and worst performers of the day

The best performing sector was Energy adding 8.5 per cent while the worst performing sector was Infotech shedding 6.2 per cent.

The best performing stock in the S&P/ASX 200 was Unibail Rodamco Westfield (ASX:URW), rising 43.6 per cent to close at $4.12. Shares in Oil Search (ASX:OSH) and Fletcher Building (ASX:FBU) followed higher.

The worst performing stock in the S&P/ASX 200 was NextDC (ASX:NXT), dropping 13.9 per cent to close at $12.10. Shares in Ramelius Resources (ASX:RMS) and ARB Corp (ASX:ARB) followed lower.

Asian markets

Higher: Japan’s Nikkei has added 0.1 per cent, Hong Kong’s Hang Seng has added 0.8 per cent and the Shanghai Composite is steady.

Commodities and the dollar

Gold is trading at US$1,881 an ounce.
Iron ore price is 2 per cent up at US$120.20.
Iron ore futures are pointing to a rise of 3.1 per cent.
Light crude is US$0.47 lower at US$39.82 a barrel.
One Australian dollar is buying 72.86US cents.

And finally a quick reminder our next online event is Nov 17. 5 companies presenting starting 12:30pm, details at this link https://www.finnewsnetwork.com.au/page/investor-events. Please register to secure a spot.