Materials the only sector to shed today: ASX closed 0.7% higher

Market Reports

by Rachael Jones

The local sharemarket rose at the open and managed to close 44 points up or 0.7 per cent higher at 6,643. Shares in Mesoblast (ASX:MSB) rallied today despite no new news from them. Materials only sector that shed today.

Futures

The Dow futures are suggesting a fall of 33 points. S&P 500 futures are eyeing a dip of 5 points. The Nasdaq futures are eyeing a drop of ten points. And the SPI futures are eyeing a gain of 57 points tomorrow morning.

Economic News

Exports of goods in November 2020 increased $166 million that’s up 1 per cent. Imports of goods in November 2020 increased $2,892 million that’s up 11%.

Company news

Origin Energy (ASX:ORG) will invest an additional £36 million (approximately $65 million) in Octopus Energy Group to maintain its 20 per cent equity interest following a partnership between Octopus and Tokyo Gas that will see the launch of Octopus into the Japanese market. Under the agreements, leading Japanese utility Tokyo Gas will take a 9.7 per cent equity share in Octopus for a consideration of US$200 million. Octopus and Tokyo Gas will also establish a new retailer, called TG Octopus Energy. Shares in Origin Energy (ASX:ORG) closed 1.7 per cent higher at $4.79.

Fonterra (ASX:FSF) has received anti-trust clearance in China to sell its two wholly-owned farming hubs to Inner Mongolia Natural Dairy Co. Ltd, a subsidiary of China Youran Dairy Group.

Bigtincan (ASX:BTH) has agreed to pay $22.6 million for ClearSlide, a sales engagement technology platform leader with hundreds of customers across three continents.

Infratil (ASX:IFT) confirms that its acquisition of 56.25 per cent of Qscan has been completed for total cash equity consideration of $289.6 million.

Best and worst performers

The best-performing sector is Real Estate Investment Trust gaining 2.1 per cent while the sector trailing behind was Materials dropping 0.4 per cent.
The best performing stock in the S&P/ASX 200 is Mesoblast (ASX:MSB) rising 9.2 per cent to $2.37, followed by shares in Smart Group Corp (ASX:SIQ) and G.U.D Holdings (ASX:GUD).
The worst performing stock in the S&P/ASX 200 was Resolute Mining (ASX:RSG) dropping 3.8 per cent to $0.77, followed by shares in Ramelius Resources (ASX:RMS) and WestGold Resources (ASX:WGX).
Asian markets higher

Japan’s Nikkei has gained 0.3 per cent Hong Kong’s Hang Seng has added 0.6 per cent and the Shanghai Composite has gained 1 per cent.

Commodities

Gold is trading at US$1,867 an ounce.
Iron ore has lost 6.8 per cent to $164.53.
Iron ore futures are suggesting a fall of 5.4 per cent.
Light crude has lost $0.67 cents to $45.99..
One Australian dollar is buying 75.51US cents.