ARB Corp's (ASX:ARB) soar on market update: ASX closes 0.3% lower

Market Reports

by Rachael Jones

The Australian sharemarket slid today closing 18 points down, or 0.3 per cent lower at 6,679. Shares in the ARB Corporation (ASX:ARB) did well today after they reported they achieved unaudited sales revenue of $284 million for the half year ended 31 December 2020 which represents growth of 21.6 per cent compared with the prior corresponding period. Meanwhile, shares in Polynovo (ASX:PNV) have dropped over 12 per cent despite reporting an increase in sales of 31 per cent in the first half of the 2021 financial year.

Futures

The Dow futures are suggesting a fall of 17 points. S&P 500 futures are eyeing a dip of 2 points. The Nasdaq futures are eyeing a rise of 4 points. And the SPI futures are eyeing a fall of 24 points tomorrow morning.

Company news

Genesis Minerals (ASX:GMD) has completed the acquisition of 100 per cent of the Kookynie Gold Project in Western Australia. As previously announced to the ASX on 21 December 2020, Genesis exercised its option to acquire the Kookynie Gold Project. All conditions precedent to the transaction have now been satisfied or waived. Shares in Genesis Minerals (ASX:GMD) closed flat at $0.07.

Worley (ASX:WOR) has been awarded a master site services and supply contract by Inter Pipeline for its Heartland Petrochemical Complex located in Alberta in Canada.

Installment payment platform, Sezzle Inc. (ASX:SZL) reports record fourth quarter results with underlying merchant sales increasing 205.4 per cent year on year to $419.8 million.

Nuheara’s (ASX:NUH) earbuds have been launched by US company HP under a supply deal announced on December 29.

IPO

Felix Group Holdings (ASX:FXL) issued shares at 36 cents, starting trading at 38 cents and closed at 35 cents.. The Felix platform makes it easier for contractors and vendors to find, manage and engage with each other.

Best and worst performers

The best-performing sector is Financials gaining 0.7 per cent while the sector trailing behind was Real Estate dropping 1.2 per cent.
The best performing stock in the S&P/ASX 200 is ARB Corporation (ASX:ARB) rising 5.8 per cent to $33.47, followed by shares in Super Retail Group (ASX:SUL) and United Malt Group (ASX:UMG).
The worst performing stock in the S&P/ASX 200 was Polynovo (ASX:PNV) dropping 12.98 per cent to $2.95, followed by shares in Oz Minerals (ASX:OZL) and Netwealth Group (ASX:NWL).
Asian markets higher

Japan’s Nikkei is currently flat, Hong Kong’s Hang Seng is tracking 0.3 per cent higher and the Shanghai Composite is 0.8 per cent higher.

Commodities

Gold is trading at US$1,851 an ounce.
Iron ore price lost 0.5 per cent at $172.13.
It’s futures are pointing to a fall of 0.9 per cent.
Light crude has shed $0.11 cents to $50.03.
One Australian dollar is buying 76.94US cents.