The Australian sharemarket opened higher and is swimming in positive territory this morning as gains are made across the sectors. At noon, the S&P/ASX 200 is 0.9 per cent or 65.5 points higher at 7440.4. The SPI futures are pointing to a rise of 74 points.
All sectors are in the green except energy, down 0.3 per cent. Materials are leading, up 1.3 per cent, followed by technology, up 1.2 per cent, then health care, up 1 per cent. Kogan.com (ASX:KGN)
is the best-performing stock, up 10.4 per cent after the online retailer reported an increase in gross sales during the September quarter. The worst-performing stock is Whitehaven Coal (ASX:WHC)
, trading 5.3 per cent lower.
Heavyweight miners are performing well this morning despite yesterday's fall and iron ore prices trading lower today. BHP (ASX:BHP)
is up 1.9 per cent, while Rio Tinto (ASX:RIO and Fortescue (ASX:FMG)
are both up 1.7 per cent. Gold stocks are pushing forward, with Evolution Mining (ASX:EVN)
up 1.9 per cent following its quarterly results and Northern Star Resources (ASX:NST)
up 1.6 per cent.
Onto some market movers this morning, engineering provider Worley (ASX:WOR)
is up 9 per cent, A2 Milk (ASX:A2M)
is up 6.3 per cent, Codan (ASX:CDA)
is up 6.5 per cent and real estate advertiser REA Group (ASX:REA)
is up 5.2 per cent.
Buy now, pay later giant Afterpay (ASX:APT)
is up 1.6 per cent, while Zip Co (ASX:Z1P)
is up 0.8 per cent and WiseTech (ASX:WTC)
is up 2.4 per cent. Major banks are higher, led by Westpac (ASX:WBC)
trading 1.1 per cent higher. Health stocks are lifting with CSL (ASX:CSL)
up 0.9 per cent and Pro Medicus (ASX:PME)
up 2.8 per cent.
In headlines, Beach Energy (ASX:BPT)
is down 4.3 per cent following its quarterly results and Sydney Airport (ASX:SYD)
is down 0.2 per cent following a significant drop in its September results. Flight Centre (ASX:FLT)
is trading 4.7 per cent lower following its annual meeting held today stating they cannot provide FY22 guidance. Local economic news
No eco news todayCompany news
Sydney Airport (ASX:SYD)
faced another weighted month in September while border restrictions remained in place.
Beach Energy’s oil production fell in the September quarter, which led to a fall in its revenue for the period.
Evolution Mining (ASX:EVN)
beat its gold production guidance for the September quarter by over 2.0 per cent.IPOs
Alvo Minerals (ASX:ALV)
has listed on the ASX today with an issue price of $0.25. The shares opened at $0.37, touched a high of $0.39 and a low of $0.355 and are now trading at $0.38.
RAM Essential Services Property Fund (ASX:REP)
has listed on the ASX at midday today with an issue price of $1.00. The shares opened at $1.05, touched a high of $1.05 and a low of $1.015 and are now trading at $1.025.Best and worst performers
The best-performing sector is Materials, up 1.3 per cent. The worst-performing sector is Energy, down 0.3 per cent.
The best-performing stock in the S&P/ASX 200 is Kogan.com (ASX:KGN)
, trading 9.9 per cent higher at $12.02. It is followed by shares in Worley (ASX:WOR)
and The A2 Milk Company (ASX:A2M)
The worst-performing stock in the S&P/ASX 200 is Whitehaven Coal (ASX:WHC)
, trading 5.3 per cent lower at $3.14. It is followed by shares in Flight Centre Travel Group (ASX:FLT)
and Beach Energy (ASX:BPT)
.Commodities and the dollar
Gold is trading at US$1768.74 an ounce.
Iron ore is 0.2 per cent lower at US$124.04 a ton.
Iron ore futures are pointing to a rise of 1.41 per cent.
One Australian dollar is buying 74.74 US cents.Investor event
Please join us for our next online investor event on Tuesday 26 October with six companies presenting. From lithium explorers to marketing service providers. Make your way to fnn.com.au to reserve
your free online spot.