The sharemarket hits 6770.4 points: ASX closed 0.4% higher

Market Reports

by Rachael Jones

Australia’s sharemarket closed higher today on news the US are looking to boost their economy with more stimulus. The S&P/ASX 200 index finished 28 points up or 0.4 per cent higher at 6,770. Shares in PolyNovo (ASX:PNV) went up today after they announced they are moving into Poland and Turkey. Meanwhile shares in Whitehaven Coal (ASX:WHC) have dropped.

Futures markets

Dow futures are suggesting a fall of 22 points.
S&P 500 futures are eyeing a lift of 5 points.
The Nasdaq futures are eyeing a rise of 53 points. And the ASX200 futures are eyeing a rise of 32 points tomorrow morning.

Local economic news
The Westpac-Melbourne Institute Index of Consumer Sentiment fell by 4.5% to 107 in January from 112.0 in December.

Company news

Westgold Resources (ASX:WGX) reports that despite significant events impacting production, gold production and sales was within the Company’s published guidance range for the quarter. Gold production was at 65,214 ounces and sales were at 65,167 ounces. They saw an 11 per cent increase in quarter on quarter operating cash flow to $65 million. Shares in Westgold Resources (ASX:WGX) closed 2.1 per cent higher at $2.41.

Downer EDI (ASX:DOW) has been awarded a Field Services contract by Telstra (ASX:TLS) at around $330 million over a maximum term of five years.

Australasia’s largest equity-based insurance broker network, the AUB Group (ASX:AUB), is set to sell its total shareholding in Altius Group Holdings Pty to The Riverside Company for $57 million.

Protection safety solutions company Ansell (ASX:ANN) reports that because of Covid - they continue to see elevated demand for a number of its products particularly in Chemical Protective Clothing.

IPO

Australian Gold and Copper Ltd (ASX:AGC) started trading today they issued shares at 20 cents, started trading at 20 cents and closed 21 cents.

Best and worst performers

The best-performing sector is Information Technology gaining 2.5 per cent while the sector trailing behind was Financials dropping 0.4 per cent.

The best performing stock in the S&P/ASX 200 is Polynovo (ASX:PNV) rising 7.3 per cent to $2.66, followed by shares in Netwealth Group (ASX:NWL) and Afterpay (ASX:APT).

The worst performing stock in the S&P/ASX 200 is Megaport (ASX:MP1) dropping 5.5 per cent to $12.12 , followed by shares in Whitehaven Coal (ASX:WHC) and Pro Medicus (ASX:PME).

Asian markets

Mixed: Japan’s Nikkei is tracking 0.5 per cent lower, Hong Kong’s Hang Seng is 0.3 per cent higher and the Shanghai Composite has added 0.1 per cent.

Commodities

Gold is trading at US$1,851 an ounce.
Iron ore has gained 0.4 per cent at $170.03
Futures are suggesting a rise of 0.1 per cent.
Light crude is 16 cents higher at $50.89.
One Australian dollar is buying 77.27 US cents.

 

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