Tech sector pushes market up: ASX closed 0.8% higher

Market Reports

by Rachael Jones

It has been a positive day of trade for the Australian share market. At the closing bell the S&P/ASX 200 index closed 54 points up, or 0.8 per cent higher to finish at 6,827.

Futures market

Dow futures are suggesting a fall of 38 points.
S&P 500 futures are eyeing a rise of 1 points.
The Nasdaq futures are eyeing lift of 51 points.
And the ASX200 futures are eyeing a 55 point rise for tomorrow morning

Company news

Pendal Group (ASX:PDL) today announced that Group CEO, Emilio Gonzalez, will step down after 11 years in the role, and Nicholas Good, currently CEO of the J O Hambro Capital Management operations in the USA, will be his successor. Mr Gonzalez has a six-month notice period. Shares in Pendal Group (ASX:PDL) closed 2.7 per cent higher at $6.41.

Crown Resorts Limited (ASX:CWN) has today announced that Crown and its associated entities will cease making monetary or in-kind political donations, effective immediately.

Dexus (ASX:DXS) has entered into an agreement to combine the Dexus Wholesale Property Fund with AMP Capital Diversified Property Fund.

IPOs

Diversified Metals & Mining, Bastion Minerals Limited (ASX:BMO) started trading today. It issued shares at $0.20 and started trading on the ASX at $0.20 and closed at $0.20.5.

Best and worst performers of the day

The best performing sector was Infotech adding almost 3 per cent while the worst performing sector was Materials shedding 0.7 per cent.

The best performing stock in the S&P/ASX 200 was Polynovo (ASX:PNV), rising 6.6 per cent to close at $2.75. Shares in Charter Hall Group (ASX:CHC) and Nearmap (ASX:NEA) followed higher.

The worst performing stock in the S&P/ASX 200 was Metcash (ASX:MTS), dropping almost 4 per cent to close at $3.39. Shares in BHP Group (ASX:BHP) and Sandfire Resources (ASX:SFR) followed lower.

Asian markets

Higher: Japan’s Nikkei has added 0.6 per cent, Hong Kong’s Hang Seng has also added 0.6 per cent and the Shanghai Composite has gained 0.1 per cent.

Commodities and the dollar

Gold is trading at US$1,735 an ounce.
Iron ore price fell 3.1 per cent to US$165.44.
Its futures are pointing to a rise of 3.3 per cent.
Light crude is US$0.38 down at US$60.97 barrel.
One Australian dollar is buying 77.52 US cents.

Our investor event is on Mar 23, 5 companies presenting starting 12:30pm details including registration at the link https://www.finnewsnetwork.com.au/page/investor-events.