Woolworths (ASX:WOW) promises 100% renewable electricity by 2025: ASX closed 1.7% higher

Market Reports

by Rachael Jones

It has been a positive day of trade for the Australian share market closing 1.7 per cent higher – it’s fifth consecutive gain. Energy companies did well today with Whitehaven Coal (ASX:WHC) and Oil Search (ASX:OHS) both seeing gains. Shares in Ramelius Resources (ASX:RMS) didn’t fare so well. All sectors are in the black.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 109 points higher to finish at 6,450.

Futures market

Dow futures are suggesting a rise of 74 points.
S&P 500 futures are eyeing a lift of 7 points.
The Nasdaq futures are eyeing a rise of 50 points.
And the ASX200 futures are eyeing a 100 point rise tomorrow morning.

Company news

Woolworths (ASX:WOW) has committed to use 100 per cent renewable electricity by 2025. They plan to install solar panels on the roofs of stores and distribution centres, signing power purchase agreements with wind and solar energy providers and co-investing to build new renewable energy projects. They also plan to make its operations net carbon positive – rather than net neutral – by 2050 if not before. Shares in Woolworths (ASX:WOW) closed 1.6 per cent higher at $38.25.

The Flight Centre Travel Group (ASX:FLT) launched an offering of $400 million senior unsecured convertible notes due 2027, which are convertible into fully paid ordinary shares in Flight Centre.

Firefinch Limited (ASX:FFX) formerly Mali Lithium, has completed the acquisition of an 80 per cent interest in the Morila gold mine in Mali.

Bellevue Gold (ASX:BGL) is pleased to announce that the Indicated Resource at its Bellevue Gold Project in Western Australia has increased by 20 per cent to 1.04 million ounces gold at 11.4 gold per tonne.

Best and worst performers of the day

The best performing sector was Energy closing 5.1 per cent higher while the worst performing sector was healthcare with the fewest gains, adding 0.3 per cent.

The best performing stock in the S&P/ASX 200 is Virgin Money UK (ASX:VUK) closing 14.3 per cent higher to $2.40, followed by shares in Whitehaven Coal (ASX:WHC) and Oil Search (ASX:OHS).

The worst performing stock in the S&P/ASX 200 is Ramelius Resources (ASX:RMS) dropping 5.4 per cent to $1.92, followed by shares in JB Hi-Fi (ASX:JBH) and Westgold Resources (ASX:WGX).

Asian markets

Mixed: Japan’s Nikkei has added 1.8 per cent, Hong Kong’s Hang Seng has lost 0.04 per cent and the Shanghai Composite has lost 0.06 per cent.

Commodities and the dollar

Gold is trading at US$1,881 an ounce.
Iron ore price is 0.4 per cent higher at US$122.27.
Iron ore futures are pointing to a rise of 0.8 per cent.
Light crude is US$0.35 higher at US$41.71 a barrel.
One Australian dollar is buying 73.09US cents.

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