Dwelling approvals record a strong rise in February: ASX is tracking 0.4% higher

Market Reports

by Rachael Jones

The Australian share market opened higher this morning and is now tracking 0.4 per cent higher at noon. The S&P/ASX 200 index is 94 points up at 6,832. On the futures market the SPI is 96 points higher.

Local economic news

The number of dwellings approved rose 21.6 per cent in February (seasonally adjusted), after falling 19.4 per cent in January, according to data released by the Australian Bureau of Statistics (ABS) today.

Company news

Openpay Group (ASX:OPY) have announced a $67.5 million funding package to accelerate its international expansion. The package comprises a $37.5 million placement, a $25 million corporate debt facility, and a $5 million share purchase plan. Approximately 18.5 million new fully paid ordinary shares in the Company will be issued under the Placement at an issue price of $2.03 per New Share. This represents a 15.8 per cent discount to its last close price. Shares in Openpay Group (ASX:OPY) are currently 2.9 per cent lower at $2.34.

IPO

Mineral exploration Peregrine Gold Ltd (ASX:PGD) started trading today. It issued shares at $0.20 and started trading on the ASX at $0.26 and is currently trading at $0.26.

Best and worst performers

The best-performing sector is Industrials adding 2.1 per cent, while the worst performing sector is Utilities, trading flat.

The best performing stock in the S&P/ASX 200 is Unibail-Rodamco-Westfield (ASX:URW), rising 6.4 per cent to $5.35, followed by shares in Champion Iron (ASX:CIA) and Atlas Arteria (ASX:ALX).

The worst performing stock in the S&P/ASX 200 is Harvey Norman Holdings (ASX:HVN), dropping 3.9 per cent to $5.72, followed by shares in Appen (ASX:APX) and Bingo Industries (ASX:BIN).

Commodities and the dollar

Gold is trading at US$1,685 an ounce.
Iron ore price is steady at US$166.99
Iron ore futures are pointing to a rise of 1.3 per cent.
One Australian dollar is buying 76.16 US cents.
 

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