The Australian share market opened in positive territory. At noon, the ASX is 0.25 per cent or 18.5 points higher at 7508.4. The SPI futures are pointing to a rise of 12 points.
Energy, Tech and Mining stocks are dominating while Consumer Staples drag.
Energy stocks are performing well after oil prices jumped. Woodside Petroleum
(ASX:WPL) is trading 3.2 per cent higher and Santos
(ASX:STO) is trading 2.4 per cent higher. Oil Search
(ASX:OSH) is up 1.8 per cent following its half year results and Viva Energy
(ASX:VEA) is up 1.5 per cent following its full year results.
Buy now, pay later provider Afterpay
(ASX:APT) is trading 1.5 per cent higher, while Zip Co
(ASX:Z1P) is trading 1.7 per cent higher.
Mining giant BHP
(ASX:BHP) is up 0.6 per cent, Rio Tinto
(ASX:RIO) is up 0.9 per cent and Fortescue Metals
(ASX:FMG) eased back from yesterdays losses, up 0.2 per cent.
Major banks are edging higher with Westpac
(ASX:WBC) up 0.4 per cent, NAB
(ASX:NAB) up 0.2 per cent, ANZ
(ASX:ANZ) up 0.7 per cent and Commonwealth
(ASX:CBA) up 0.1 per cent.
Once again, FY21 results were mixed. Nanosonics
(ASX:NAN) is trading 17.8 per cent higher as the best performing stock, on the back of its FY21 results.
Meanwhile in headlines today, online retailer Kogan
(ASX:KGN) dropped 13 per cent after noting no final dividend. Global brand Ansell
(ASX:ANN) dropped 8.7 per cent, despite an increase in FY21 sales.
NSW recorded 753 new Covid-19 cases, Victoria recorded 50 new cases and Queensland recorded 2 new cases.
Local economic news The weekly consumer sentiment report from ANZ and Roy Morgan can be found
here. The Australian Bureau of Statistics released their 'Counts of Australian Businesses, including Entries and Exits' statement for Jul 2017 - Jun 2021. At Jun 30 2021 there were 2,402,254 actively trading businesses in the Australian economy.
In 2020-21 there was a 3.8 per cent, or 87,806, increase in the number of businesses. There was a 15.8 per cent entry rate, with 365,480 entries and a 12 per cent exit rate, with 277,674 exits.
Company news Ansell
(ASX:ANN) recorded yearly sales of US $2,027 million in FY21, up 25.6 per cent from the prior year.
Online retailer Kogan.com
(ASX:KGN), posted its highest ever gross sales of $1.179 billion in FY21.
Seek
(ASX:SEK) reported revenue of $1,591.1 million in FY21, edging 1 higher than the prior year.
Best and worst performersThe best-performing sector is Energy, up 2.4 per cent. The worst-performing sector is Consumer Staples, down 0.6 per cent.
The best-performing stock in the S&P/ASX 200 is Nanosonics
(ASX:NAN), trading 17.8 per cent higher at $6.94. It is followed by shares in Webjet
(ASX:WEB) and Flight Centre Travel Group
(ASX:FLT).
The worst-performing stock in the S&P/ASX 200 is Monadelphous Group
(ASX:MND), trading 15.4 per cent lower at $9.98. It is followed by shares in Kogan.com
(ASX:KGN) and Ansell
(ASX:ANN).
Commodities and the dollarGold is trading at US$1804.68 an ounce.
Iron ore is 2.7 per cent lower at US$136.71 a ton.
Iron ore futures are pointing to a rise of 3.89 per cent.
One Australian dollar is buying 72.09 US cents.
