Shares jump on first trading day of 2021: ASX close 1.5% higher

Market Reports

by Melissa Darmawan

It has been a positive day of trade for the Australian share market. After opening lower, the ASX picked up momentum and maintained an upward trend throughout the day. At the closing bell, the S&P/ASX 200 index closed 97 points higher or 1.5 per cent higher to finish at 6,684. All of the sectors closed in the black. Shares in Silver Lake Resources (ASX:SLR) are up 6.7 per cent while shares in Link Administration Holdings dropped 13.5 per cent after withdrawal in a takeover bid.

Futures market

Dow futures are suggesting a fall of 4 points.
S&P 500 futures are eyeing a dip of 1 point.
The Nasdaq futures are eyeing fall of 16 points.
ASX 200 futures are eyeing 76 points rise tomorrow morning.

Company news

Credit Corp's (ASX:CCP) debt book acquisition from Collection House (ASX:CLH) completed for $148 million. Credit Corp entered an agreement in December last year to purchase $160 million of debts and provide a $15 million short term loan. Collection House resumed trading today since February last year. Shares in Credit Corp (ASX:CCP) closed 3.7 per cent higher at $30.80.

US financial services software company SS&C Technology has withdrawn its offer to acquire all shares in the Link Group (ASX:LNK).

Global gold miners AngloGold Ashanti (ASX:AGG) with joint venture partner IAMGOLD has completed the sale of interests in the Sadiola Mine in Africa to Allied Gold Corporation.

Metals recovery and water treatment company CleanTeQ Holdings (ASX:CLQ) has been awarded two water purification contracts in Australia and in the Middle East.

Gold explorer Chesser Resources (ASX:CHZ) has appointed Andrew Grove to the role of Chief Executive Officer.

Best and worst performers of the day

The best performing sector was Materials adding 2.4 per cent while the sector with the fewest gains was information technology adding 0.3 per cent.

The best performing stock in the S&P/ASX 200 Silver Lake Resources (ASX:SLR) rising 6.7 per cent to close at $1.91. Shares in Saracen Mineral Holdings (ASX:SAR) and Fortuescue Metals name (ASX:FMG) followed higher.

The worst performing stock in the S&P/ASX 200 was Link Administration Holdings (ASX:LNK) dropping 13.5 per cent to close at $4.80. Shares in Corporate Travel (ASX:CTD) and Fletcher Building (ASX:FBU) followed lower.

Asian markets 

Japan’s Nikkei has tracking 0.6 per cent lower, Hong Kong’s Hang Seng has added 0.8 per cent and the Shanghai Composite has added 1 per cent.

Commodities and the dollar

Gold is trading at US$1,920 an ounce.
Iron ore price shed 1.5 per cent to US$162.03. Its futures are pointing to a rise of 0.9 per cent.
Light crude is US$0.53 higher at US$48.21 barrel.
One Australian dollar is buying 76.93 US cents.

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