Major miners push market up: ASX closed 0.9% higher

Market Reports

by Rachael Jones

Major miners pushed the market up today with materials being the best performing sector. At the closing bell the S&P/ASX 200 index closed 62 points higher, or 0.9 per cent higher to finish at 6,869.

Futures market

Dow futures are suggesting a rise of 140 points.
S&P 500 futures are eyeing a rise of 15 points.
The Nasdaq futures are eyeing lift of 45 points.
And the ASX200 futures are eyeing a 63 point rise for tomorrow morning.

Company news

Asaleo Care (ASX:AHY) has confirmed it is engaged in ongoing discussions with the ultimate parent of its major shareholder, Essity Aktiebolag about a potential proposal to acquire the outstanding ordinary shares in Asaleo. As part of these discussions, Asaleo has granted limited due diligence to Essity. There is no certainty that this process will result in a transaction. Shares in Asaleo Care (ASX:AHY) closed 5.4. per cent higher at $1.38.

Crown Resorts (ASX:CWN) Chief Executive Officer and Managing Director Ken Barton has today stepped down from his role of with immediate effect. Helen Coonan will lead the company as Executive Chairman.

News corporation Seven West Media (ASX:SWM) has clinched a direct partnership deal with Google to feed news content to the Google News Showcase platform.

Lithium company Orocobre (ASX:ORE) says that some minor damage was sustained at their site office at their Naraha Lithium Hydroxide Plant in Japan after an earthquake at the weekend.

Best and worst performers

The best-performing sector was Materials, adding 1.6 per cent, while the worst-performing sector was Utilities, dropping 0.9 per cent.

The best-performing stock in the S&P/ASX 200 was Nearmap (ASX:NEA), rising 18.98 per cent to close at $2.57. Shares in ZIP Co (ASX:Z1P) and Bendigo and Adelaide Bank (ASX:BEN) followed.

The worst-performing stock in the S&P/ASX 200 was Altium (ASX:ALU), dropping 4.8 per cent to close at $29.19. Shares in Beach Energy (ASX:BPT) and AGL Energy (ASX:AGL) followed.

Asian markets

Japan’s Nikkei has gained 1.7 per cent. The Hang Seng and the Shanghai Composite are closed.

Commodities and the dollar

Gold is trading at US$1,822 an ounce.
Light crude is US$0.85 higher at US$56.14 a barrel.
One Australian dollar is buying 77.86 US cents.



 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.