ASX halts decline, Tech soars: Aus shares close 0.4% higher

Market Reports

by Lauren Evans

The Australian share market started the week on a positive note, gaining momentum in the afternoon trade. At the closing bell, the ASX was 0.4 per cent or 29 points higher at 7,490. 

The Technology and Real Estate sector made gains while Consumer Staples closed 0.4 per cent lower. 

Technology was the best-performing sector up 1.7 per cent, with buy now, pay later provider Afterpay (ASX:APT) closing 2.7 per cent higher. Payment software Zero (ASX:XRO) closed 1.4 per cent higher and WiseTech Global (ASX:WTC) closed 2.5 per cent higher. 

Despite a mixed reactions from FY21 results, investment property group Charter Hall (ASX:CHC) closed 6.4 per cent higher. Real Estate as a whole made a number of gains, including Stockland (ASX:SGP) up 2.8 per cent at close.

NAB (ASX:NAB) weighed down major banks closing 0.4 per cent lower. Meanwhile, Commonwealth (ASX:CBA) closed 0.8 per cent higher, Westpac (ASX:WBC) closed 0.1 per cent higher and ANZ (ASX:ANZ) closed 0.4 per cent higher. 

BHP (ASX:BHP) pushed the materials sector forward closing 0.5 per cent higher, despite downward pressure from Rio Tinto (ASX:RIO) closing 0.4 per cent lower and Fortescue Metals (ASX:FMG) closing 4.7 per cent lower.

NSW recorded 830 new Covid-19 cases and Victoria recorded 65 new cases.

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Reliance Worldwide Corporation (ASX:RWC), posted a record year in revenue and earnings in FY21.

Sonic Healthcare (ASX:SHL), delivered significant revenue and earnings in FY21, amid the Covid-19 pandemic.

Charter Hall (ASX:CHC), recorded revenue of $668 million in FY21, compared to $553.8 million in the prior year.

Australian health fund nib holdings (ASX:NHF), delivered a strong year for the period ending 30 Jun 2021, despite the impact of Covid-19 on claims.

NZ telecommunications company Chorus (ASX:CNU) confirmed earnings before interest, tax, depreciation and amortisation of $649 million for the year ending 30 Jun 2021.

Futures

The Dow Jones futures are pointing to a rise of 148 points.
The S&P 500 futures are pointing to a rise of 15 points.
The Nasdaq futures are pointing to a rise of 51 points.
The SPI futures are pointing to a rise of 36 points when the market next opens.

Best and worst performers

The best-performing sector was Information Technology, up 1.7 per cent. The worst-performing sector was Consumer Staples, down 0.4 per cent.

The best-performing stock in the S&P/ASX 200 was Pilbara Minerals (ASX:PLS), closing 11.4 per cent higher at $2.25. It was followed by shares in Appen (ASX:APX) and Nearmap (ASX:NEA).

The worst-performing stock in the S&P/ASX 200 was NIB Holdings (ASX:NHF), closing 11 per cent lower at $7.10. It was followed by shares in Redbubble (ASX:RBL) and TPG Telecom (ASX:TPG).

Asian markets

Japan's Nikkei has gained 1.8 per cent.
Hong Kong's Hang Seng has gained 1.4 per cent.
China's Shanghai Composite has gained 1.4 per cent.

Commodities and the dollar

Gold is trading at US$1786.09 an ounce.
Iron ore is 5.9 per cent higher at US$140.44 a ton.
Iron ore futures are pointing to a fall of 0.4 per cent.
Light crude is trading $1.20 higher at US$63.34 a barrel.
One Australian dollar is buying 71.60 US cents.
 

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