Mining sector lifts ASX to 11 month high: Aus shares close 0.6% higher

Market Reports

by Anna Napoli

The local bourse has kicked off the trading week on a positive note. the S&P/ASX 200 Index closed 0.6 per cent or 40 points higher at 6881 points. The materials sector helped give the ASX an afternoon pick me up with Rio lifting by 3.3 per cent and BHP gaining 2.3 per cent. Vocus Group charged upwards by over 13 per cent on news of a takeover bid, while Zipco was also amongst the top performers following media reports the company is presenting to US investors and considering a dual listing.

Futures

Dow futures are suggesting a rise of 144 points. S&P 500 futures are eyeing a lift of 17 points. The Nasdaq futures are up 77 points. And the SPI futures are eyeing a rise of 43 points

Company news

Sigma Healthcare is forecasting underlying full year earnings (EBITDA) of around $80 million, which would be a 35 per cent increase over the previous financial year. Shares in Sigma Healthcare rose 7.4 per cent to 73 cents.

Vocus Group (ASX:VOC) has confirmed media reports of a non-binding takeover bid from Macquarie Infrastructure and Real Assets Holdings. The offer for the Telco is $5.50, a 25.6 per cent premium to Friday's closing price of $4.38 a share.

Australian Real Estate Investment Trust Charter Hall Long Wale REIT (ASX:CLW) has posted a 3.6 per cent increase in operating earnings to $73.6 million for the first half of the 2021 financial year when compared to the same time last year.Full year operating earnings per share guidance was maintained at no less than 29.1 cents per security.

Best and worst performers

The best-performing sector was materials gaining almost 2 per cent while the sector trailing behind was utilities dropping 2.1 per cent. The best performing stock in the S&P/ASX 200 was Zipco (ASX:ZIP) rising 12.9 per cent at $9.80 followed by Vogus Group (ASX:VOC) and Lynas (ASX:LYC) The worst performing stock in the S&P/ASX 200 is Origin Energy (ASX:ORG) dropping 3.5 per cent to $4.37, followed by Unibail Rodamco Westfield (ASX:URW) and Omni Bridgeway (ASX:OBL).

Japan’s Nikkei has gained 1.8 per cent Hong Kong’s Hang Seng is up 0.6 per cent and the Shanghai Composite is 1.1 per cent higher.

Commodities

Gold is trading at US$1,813 an ounce.
Iron ore is 0.6 per cent lower at US$157.01
Futures are suggesting a rise of 2.9 per cent.
Light crude is 39 cents higher at US$53.66.
One Australian dollar is buying 76.76 US cents.
 

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