Best session in two weeks: ASX closed 0.7% higher

Market Reports

by Rachael Jones

The sharemarket has had a good session today. The S&P/ASX200 rose 48 points or 0.7 per cent higher to 6,679. Shares in Resolute Mining (ASX:RSG) did well today after announcing the sale of the Bibiani Gold Mine for US$105 million in cash. Shares in Service Stream (ASX:SSM) fell today after announcing they have just secured a significant long-term agreement with the nbn.

Futures

The Dow futures are suggesting a fall of 21 points. S&P 500 futures are eyeing a fall of 3 points. The Nasdaq futures are eyeing a rise of 13 points. And the SPI futures are eyeing a lift of 46 points tomorrow morning.

Local economic news

The Australia Bureau of Statistics report the business Impacts of Covid-19. In December, 25 per cent of businesses reported increased revenue over the last month. One in five (21%) businesses reported they were having difficulty finding suitably skilled staff. Two thirds (65%) of medium and large employing businesses plan to employ staff over the next three months.

Company news

The valuation of Dexus' (ASX:DXS) property portfolio of 42 offices and 69 industrial properties has increased $109 million.The 0.7 per cent increase follows an independent valuation of 111 of its 122 asset externally valued up to December 31. Shares in Dexus' (ASX:DXS) are 1.5 per cent lower at $9.75.

The Commonwealth Bank of Australia (ASX:CBA) has entered into an agreement to merge Aussie Home Loans with Lendi, an online home loan platform.

Whitehaven Coal (ASX:WHC) has upgraded its Winchester South Project metallurgical coal mine JORC Resource to 1,100Mt.

Best and worst performers

The best-performing sector is Information Technology gaining 2.6 per cent while the sector trailing behind was Healthcare shedding 0.6 per cent.

The best performing stock in the S&P/ASX 200 is Resolute Mining (ASX:RSG) rising 10.3 per cent to $0.80, followed by shares in Whitehaven Coal (ASX:WHC) and Perseus Mining (ASX:XRO).

The worst performing stock in the S&P/ASX 200 was Service Stream (ASX:SSM) dropping 12.1 per cent to $2.10, followed by shares in Perenti Global (ASX:PRN) and Cooper Energy (ASX:COE).

Asian markets higher

Japan’s Nikkei has added 0.2 per cent Hong Kong’s Hang Seng has added 0.9 per cent and the Shanghai Composite has gained 0.1 per cent.

Commodities

Gold is trading at US$1,857 an ounce.
Iron ore has gained 0.5 per cent to $155.07.
Iron ore futures are suggesting a rise of 2.2 per cent.
Light crude has lost $0.14 cents to $46.90.
One Australian dollar is buying 75.58 US cents.