The local sharemarket finished the first trading day of the new month with a solid gain after balance of payments data indicated an increase in economic growth. The S&P/ASX200 rose 70 points or 1.1 per cent to 6589. Food companies that strengthened over the lockdown shone today with Dominos Pizza up 12.4 per cent and Collins Foods jumping up over 10 per cent on the back of half year results and an increased dividend. Mining company Sandfire shot up by 10 per cent after it announced plans to develop a new copper mine in Botswana. Investor confidence was also boosted by news Moderna will seek emergency approval for its COVID-19 vaccine in the US and Europe ...after confirming over the weekend it was 94 per cent effective. The major banks and miners also pushed higher.Futures
The Dow futures are suggesting a rise of 237 points. S&P 500 futures are eyeing a lift of 32 points. The Nasdaq futures are eyeing a lift of 102 points. And the SPI futures are eyeing a rise of 63 points tomorrow morningLocal economic news
The Reserve Bank of Australia says the country's latest economic data has generally been better than expected, but warned the recovery would be uneven, drawn out and still dependent on significant policy support.
In its post-meeting statement on Tuesday, the bank said it still didn't expect GDP to return to 2019 levels until the end of 2021.Company news
Fortescue Metals Group has re-affirmed its FY21 guidance for iron ore shipments of between 175 million tonnes and 185 million tonnes. Shares in Fortescue Metals closed 0.6 per cent higher at $18.33.
Collins Foods says it will increase investment in delivery capacity and shift its focus from dine-in to click-and-collect amid rapid changes in consumption habits triggered by the pandemic.
Adore Beauty upgraded its guidance, saying it expects first-half revenue to be approximately $95.2 million, 7 per cent ahead of its prospectus forecast of $89 million,,, following strong Black Friday and Cyber Weekend sales.Best and worst performers
The best-performing sector is IT gaining 1.9 per cent while the utilities sector was the energy sector had the fewest gains rising 0.06 per cent. The best performing stock in the S&P/ASX 200 was Dominos
rising 12.4 per cent to $83.17, followed by shares in Collins Foods (ASX:CKF)
and Sandfire resources (ASX:Z1P)
The worst performing stock in the S&P/ASX 200 was Viva ENergy (ASX:TAH)
dropping 3.1 per cent to $1.88 , followed by shares inCooper Energy (ASX:HLS)
and Treasury Wine Estates (ASX:ANZ)
Higher: Japan’s Nikkei has gained 1.3 per cent Hong Kong’s Hang Seng has added 0.9 per cent and the Shanghai Composite has lifted 1.2 per cent.Commodities
Gold is trading at US$1,786 an ounce.
Iron ore has gained 1.6 per to $131.63
Iron ore futures are suggesting a fall of 0.1 per cent.
Light crude has shed $0.31 cents to $45.01
One Australian dollar is buying 73.70 US cents.