Shares in Premier Investments (ASX:PMV) hit an all-time high: ASX closes 0.1% higher

Market Reports

by Rachael Jones

The Australian sharemarket closed 8 points up, or 0.1 per cent higher at 6,687. Shares in Premier Investments (ASX:PMV) hit an all-time high after reporting that they expect a significant uplift in first half profit. Shares in Polynovo (ASX:PNV) fell again today after releasing a market update yesterday.

Futures

The Dow futures are suggesting a rise of 59 points. S&P 500 futures are eyeing a lift of 7 points. The Nasdaq futures are eyeing a rise of 33 points. And the SPI futures are eyeing a lift of 2 points tomorrow morning.

Economic News

Job vacancies increased by 23 per cent in the three months to the end of November, to 254,400, according to the Australian Bureau of Statistics. Job vacancies gained 12 per cent on an annual basis.

Company news

Galilee Energy (ASX:GLL) reports that all six new vertical wells have been successfully commissioned on time and under budget at the Glenaras multi well pilot programme. Galilee’s primary area of focus is Queensland where it is appraising the Galilee Basin and exploring in the Surat and Bowen Basins whilst looking to add further high quality acreage to its portfolio. Shares in Galilee Energy (ASX:GLL) closed 3.2 per cent lower at $0.61.

Newcrest Mining (ASX:NCM) has approved $146 million for the construction of the box cut, exploration decline and associated surface infrastructure at the Havieron Project in Western Australia.

Fintech Tyro (ASX:TYR) has experienced a terminal connectivity issue with respect to some of its EFTPOS terminals.

Drug development company, Noxopharm (ASX:NOX) reports that the latest formal review by the NOXCOVID-1 Safety Steering Committee has cleared it to advance to the fifth and final dosage cohort.

Best and worst performers

The best-performing sector is Energy gaining 4.3 per cent while the sector trailing behind was Consumer Staples dropping 1.5 per cent.
The best performing stock in the S&P/ASX 200 is Premier Investments (ASX:PMV) rising 12.7 per cent to $25.35, followed by shares in and Whitehaven Coal (ASX:WHC) and Cimic Group (ASX:CIM).
The worst performing stock in the S&P/ASX 200 is Polynovo (ASX:PNV) dropping 9.2 per cent to $2.68, followed by shares in Altium (ASX:LYC) and Mesoblast (ASX:MSB).

Asian markets mixed

Japan’s Nikkei has gained 1.1 per cent, Hong Kong’s Hang Seng is tracking 0.1 per cent lower and the Shanghai Composite has also lost 0.1 per cent.

Commodities

Gold is trading at US$1,860 an ounce.
Iron ore price added 0.3 per cent at $172.67.
Light crude is up $0.50 cents to $51.45.
One Australian dollar is buying 77.63US cents.