ASX up 0.28%: REITs are best performing

Market Reports

by Peter Milios

At 11:30am, the S&P/ASX 200 is 0.28 per cent higher at 7,767.50.

Australian real estate and tech stocks are the best performing after the tech-heavy Nasdaq Composite and S&P 500 closed at record highs on Friday 16,274.94 and 5137.08, respectively. Fresh US manufacturing data on Friday added to hopes the Federal Reserve will begin cutting rates in the first half of this year.

The SPI futures are pointing to a rise of 18 points.

Best and worst performers

The best-performing sector is REITs, up 1.85 per cent. The worst-performing sector is Health Care, down 0.42 per cent.

The best-performing large cap is Northern Star Resources (ASX:NST), trading 5.95 per cent higher at $13.71. It is followed by shares in Evolution Mining (ASX:EVN) and Pilbara Minerals (ASX:PLS).

The worst-performing large cap is Steadfast Group (ASX:SDF), trading 2.25 per cent lower at $5.66. It is followed by shares in Cleanaway Waste Management (ASX:CWY) and Pro Medicus (ASX:PME).

Commodities and the dollar

Gold is trading at US$2092.10 an ounce.

Iron ore is 1.5 per cent lower at US$115.40 a tonne.

Iron ore futures are pointing to a 1.6 per cent fall.

One Australian dollar is buying 65.34 US cents.

Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

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