Energy & Miners power ASX: Aus shares close 0.2% higher

Market Reports

by Lauren Evans

The Australia share market maintained its foothold in positive territory, closing 0.2 per cent or 13 points higher at 7,503.

Energy, Mining and Tech continued to make gains while Consumer Staples weighed on the index. 

Oil prices rebounded, with Santos (ASX:STO) and Woodside Petroleum (ASX:WPL) both closing 3.2 per cent higher. Oil Search (ASX:OSH) also closed 2.4 per cent higher, following its half-year results. 

Buy now, pay later giant Afterpay (ASX:APT) closed 1.8 per cent higher, while its rival Zip Co (ASX:Z1P) closed 2.7 per cent higher. 

Mining giant BHP (ASX:BHP) closed 1.2 per cent higher, Rio Tinto (ASX:RIO) closed 1.6 per cent higher and Fortescue Metals (ASX:FMG) closed 1.4 per cent higher. 

Major banks edged higher, except the Commonwealth (ASX:CBA), which closed 0.2 per cent lower. Westpac (ASX:WBC) closed 0.6 per cent higher, ANZ (ASX:ANZ) closed 0.3 per cent higher and NAB (ASX:NAB) closed 0.2 per cent lower. 

Reporting season continued on the local bourse with earnings results leaving a mixed impression. Nanosonics (ASX:NAN) closed 20.9 per cent higher at $7.12. Meanwhile, Ansell (ASX:ANN) closed 9.1 per cent lower and Kogan.com (ASX:KGN) closed 15.6 per cent lower. 

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

Please join us for Stocks of the Hour here. 

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.

Nanosonics (ASX:NAN) notes revenue of $103.1 million for the year ending 30 Jun 2021, up 3 per cent from the prior year.

Boral (ASX:BLD) reports operations revenue of $5,346 million for the year ending 30 Jun 2021, down 7 per cent from the prior year. 

Futures

The Dow Jones futures are pointing to a rise of 77 points.
The S&P 500 futures are pointing to a rise of 10 points.
The Nasdaq futures are pointing to a rise of 37 points.
The SPI futures are pointing to a rise of 6 points when the market next opens.

Best and worst performers

The best-performing sector was Energy, up 2.8 per cent. The worst-performing sector was Consumer Staples, down 1.2 per cent.

The best-performing stock in the S&P/ASX 200 was Nanosonics (ASX:NAN), closing 21.9 per cent higher at $7.18. It was followed by shares in Uniti Group (ASX:UWL) and HUB24 (ASX:HUB).

The worst-performing stock in the S&P/ASX 200 was Kogan.com (ASX:KGN), closing 15.8 per cent lower at $11.06. It was followed by shares in Monadelphous Group (ASX:MND) and Ansell (ASX:ANN).

Asian markets

Japan's Nikkei has gained 0.9 per cent.
Hong Kong's Hang Seng has gained 1.9 per cent.
China's Shanghai Composite has gained 1.1 per cent.

Commodities and the dollar

Gold is trading at US$1803.54 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 5.3 per cent.
Light crude is trading $0.22 higher at US$65.86 a barrel.
One Australian dollar is buying 72.33 US cents.
 

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