The Australian share market rose at the open and is now tracking 0.7 per cent higher at noon. Shares in Healius (ASAX:HLS) did well today after reporting its pathology business continued its strong revenue growth in October and November. Shares in EML Payments (ASX:EML) dropped. Real Estate Investment Trust only sector in the red.
The S&P/ASX 200 index
The S&P/ASX 200 index is 48 points up at 6,735. On the futures market the SPI is suggesting a rise of 43 points.
Citi rates Fortescue Metals Group (ASX:FMG) as a Downgrade to a Neutral from a Buy. With Citi's revised iron ore price forecasts, Fortescue Metals' forecasts for FY21-22 operating income and net profit are up by 32-33% and 38-43% respectively. The group has also received approvals from Port Hedland for exports of 210mtpa.Target price is $21.00. Shares in Fortescue Metals Group (ASX:FMG) are 1 per cent higher at $21.68.
Charter Hall Group (ASX:CHC) has today announced that its flagship office fund CPOF has agreed a pre-lease from a leading global technology company as the anchor tenant customer for its new $750 million ‘555 Collins Street’ office development, which will now start construction having completed demolition during 2020. The project secured planning approval from the Victorian State Government under its Building Recovery Taskforce earlier in the year. Shares in Charter Hall Group (ASX:CHC) are almost 1 per cent lower at $14.12.
Mining and Exploration Aurumin Limited (ASX:AUN) started trading today. Their shares issued at $0.20 started trading at $0.35 and are currently at $0.28.
Online tutoring for Australian school children Cluey Ltd (ASX:CLU) also started trading today. Their shares issued at $1.20 started trading at $1.20 and are currently at $1.21.
Best and worst performers
The best-performing sector is healthcare adding 2.3 per cent, while the worst performing sector is Real Estate Investment Trust shedding 0.9 per cent.
The best performing stock in the S&P/ASX 200 is Healius (ASAX:HLS) rising almost 5 per cent to $3.81, followed by shares in Ansell (ASX:ANN) and Cooper Energy (ASX:COE).
The worst performing stock in the S&P/ASX 200 is EML Payments (ASX:EML) dropping 3.5 per cent to $3.83, followed by shares in Ramelius Resources (ASX:RMS) and Scentre Group (ASX:SCG).
Commodities and the dollar
Gold is trading at US$1,867 an ounce.
Iron Ore Price has gained 1 per cent at $148.35.
Iron ore futures are pointing to a fall of 1.5 per cent.
One Australian dollar is buying 74.12US cents.