Employment ads surged 9.2% in December: ASX closes 0.03% down

Market Reports

by Rachael Jones

The Australian sharemarket closed almost flat today, 2 points down or 0.03 per cent lower at 6,682. Shares in Silver Lake Resources (ASX:SLR) rose today. Zip Co (ASX:Z1P) shares are down today. Yesterday they opened their Share Purchase Plan.

Futures

The Dow futures are suggesting a fall of 20 points. S&P 500 futures are eyeing a lift of 1 points. The Nasdaq futures are eyeing a rise of 5 points. And the SPI futures are eyeing a fall of 6 points tomorrow morning.

Local economic news

Employment ads rose 9.2 per cent in December to rise above pre-pandemic levels, according to the ANZ Australian job advertisement series.

Company news

The Cardinal Resources (ASX:CDV) board recommends shareholders accept the Shandong Gold offer without delay. The announcement made today by Shandong Gold Mining (HongKong) that they have increased its aggregate acceptances in respect of its unconditional off- market takeover offer for Cardinal in excess of 68 per cent of all Cardinal Shares. Other than the Shandong Gold Offer which is scheduled to expire at 7pm (Sydney time) on 12 January 2021, there are no other takeover offers available to shareholders. Engineers & Planners Company decided on the 31st December to not go ahead with their bid. Shares in Cardinal Resources (ASX:CDV) closed 0.5 per cent higher at $1.07.

The Biomorphik App integrated with MyFiziq’s (ASX:MYQ) technology has now been released on both Google Play and Apple Store.

Santos, (ASX:STO) as operator of the Bayu-Undan Joint Venture, has made a final investment decision for the US$235 million Phase 3C infill drilling program at the Bayu-Undan field in the Timor Sea, offshore Timor-Leste.

Nick Scali (ASX:NCK) report unaudited net profit after tax for the six months to 31 December 2020 is expected to be $40.5 million, up approximately 100 per cent on the underlying profit for the prior corresponding period.

Best and worst performers

The best-performing sector is Materials gaining 1.8 per cent while the sector trailing behind was Energy dropping 1.1 per cent.
The best performing stock in the S&P/ASX 200 is Silver Lake Resources (ASX:SLR) rising 6.8 per cent to $2.04, followed by shares in Newcrest Mining (ASX:NCM) and Lynas Corporation (ASX:LYC).
The worst performing stock in the S&P/ASX 200 was ZIP Co (ASX:Z1P) dropping 5.01 per cent to $5.31, followed by shares in EML Payments (ASX:EML) and Unibail-Rodamco-Westfield (ASX:URW).

Asian markets mixed

Japan’s Nikkei has lost 0.3 per cent Hong Kong’s Hang Seng has lost 0.2 per cent and the Shanghai Composite has gained 0.2 per cent.

Commodities

Gold is trading at US$1,940 an ounce.
Iron ore futures are suggesting a rise of 2.7 per cent.
Light crude has lost $0.02 cents to $47.16.
One Australian dollar is buying 77.08US cents.