The Australian share market have been in positive territory this morning, bouncing back from yesterday’s lows. Communication Services has been the best performing sector during this morning’s session. Telstra
(ASX:TLS) jumped 4.31 per cent higher, following news it will sell 49 per cent of its Towers Business.
All four major banks have been in the green, except Commonwealth Bank
(ASX:CBA), edging 0.38 per cent lower at noon.
Information Technology has been volatile since the market opened. Afterpay
(ASX:APT) has dipped by nearly 0.95 per cent. The BNPL provider Humm Group
(ASX:HUM) are up 1.01 per cent, following the announcement of a UK expansion.
Travel stocks are on the positive side this morning. At noon, Qantas
(ASX:QAN) was up 1.43 per cent and Sydney Airport
(ASX:SYD) was up 0.35 per cent.
Utilities was the worst-performing sector during this morning’s trade with APA Group
(ASX:APA) down 0.22 per cent and Origin Energy
(ASX:ORG) 2.81 per cent lower.
At 11am, NSW recorded 22 new COVID-19 cases on day five of lockdown.
At noon, the S&P/ASX 200 is 0.58 per cent or 42.40 points higher at 7343.60.
The SPI futures are pointing to a rise of 46 points.
Local economic newsThe Australian Bureau Statistics has released the 'Household financial resources' stating average property assets increased from $653,700 per household in December 2019 to $731,100 in December 2020.Income from government payments increased by $55 per week, to $263 per week. COVID-19 early access superannuation scheme withdrawals were mainly used for mortgage or rent payments of 31 per cent or household bills of 29 per cent.
Company newsTelstra
(ASX:TLS) has announced that the Future Fund, the Commonwealth Superannuation Corporation and Sunsuper will become a strategic partner in Telstra InfraCo Towers. Telstra will sell 49 per cent of the Towers business for $2.8 billion. After completion, the Towers entity will have no debt.
Andromeda Metals
(ASX:ADN) has successfully completed a $30 million placement through new fully paid ordinary shares, to institutional and professional/sophisticated investors. The company will undertake a $15 million share purchase plan (the SPP) to eligible shareholders on the same terms as the placement.
Buy now, pay later provider Humm Group
(ASX:HUM) has launched its payment service in the UK with full credit and serviceability checks in place.
Best and worst performersThe best-performing sector is Communication Services, up 2.56 per cent. The worst-performing sector is Utilities, down 2.30 per cent.
The best-performing stock in the S&P/ASX 200 is Iluka Resources
(ASX:ILU), trading 9.40 per cent higher at $8.96. It is followed by shares in Clinuvel Pharmaceuticals
(ASX:CUV) and Chalice Mining
(ASX:CHN).
The worst-performing stock in the S&P/ASX 200 is Nuix
(ASX:NXL), trading 13.98 per cent lower at $2.19. It is followed by shares in AGL Energy
(ASX:AGL) and Collins Foods
(ASX:CKF).
Commodities and the dollarGold is trading at US$1763.77 an ounce.
Iron ore is 2.90 per cent lower at US$212.33 a ton.
Iron ore futures are pointing to a fall of 0.60 per cent.
One Australian dollar is buying 75.18 US cents.
