Trading to resume tomorrow at 10am: ASX closed 1.2% higher

Market Reports

by Rachael Jones

It has been an odd day of trade for the Australian share market with a disruption to trading caused by an outage of the ASX trade System. Despite this the market closed  1.2 per cent higher. It’s set to be fixed in time for trading tomorrow. Two companies that were due to list on the market today were unable to because of the outage. Gold explorer Native Mineral Resources and fashion retailer Universal Store are set to now come on the market tomorrow.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 79 points higher to finish at 6,484.

Futures market

Dow futures are suggesting a rise of 237 points.
S&P 500 futures are eyeing a lift of 28 points.
The Nasdaq futures are eyeing a rise of 110 points.
And the ASX200 futures are eyeing a 65 point rise tomorrow morning.

Company news

Vigin Australia's (ASX:VAH) deed of administration is set to come into effect with all shares in the airline to be transferred to new owners Bain Capital. This will happen on the 17th November. Virgin has also requested that it be removed from the official list of the ASX from close of trading on the date of Completion. Shares in Vigin Australia's (ASX:VAH) last traded at $0.09.

Global biotechnology leader CSL (ASX:CSL) today announced that Seqirus, a wholly owned subsidiary of CSL, plans to invest more than $800 million in the construction of a new biotech manufacturing facility in Melbourne.

Australian agribusiness Elders (ASX:ELD) today released its results for the 12 months to September 2020, reporting statutory profit after tax of $122.9 million.

SkyCity (ASX:SKC) has appointed Michael Ahearne as Chief Executive Officer from his role as Chief Operating Officer after chief executive Graeme Stephens announced he will retire from the casino operator.

Best and worst performers of the day

The best performing sector was A-REIT closing 1.9 per cent higher while the worst performing sector was Infotech shedding 0.2 per cent.

The best performing stock in the S&P/ASX 200 is Unibail-Rodamco-Westfield (ASX:URW) rising 9.3 per cent to $4:00, followed by shares in News Corp (ASX:NWS) and Graincorp (ASX:GNC).

The worst performing stock in the S&P/ASX 200 SkyCity Entertainment (ASX:SKC dropping 4.1 per cent to $2.84, followed by shares in Polynovo (ASX:PNV) and AusNet Services (ASX:AST)

Asian markets

Higher: Japan’s Nikkei has added 1.98 per cent, Hong Kong’s Hang Seng has gained 0.5 per cent and the Shanghai Composite has gained 0.96 per cent.

Commodities and the dollar

Gold is trading at US$1,895 an ounce.
Iron ore price is 1.1 per cent lower at US$122.37
Iron ore futures are pointing to a rise of 0.7 per cent.
Light crude is US$0.61 higher at US$40.74 a barrel.
One Australian dollar is buying 72.90US cents.

And finally a quick reminder our next online event is Nov 17. 5 companies presenting starting 12:30pm, details at the link Please register to secure a spot.

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