ASX hits record high: Aus shares close 0.9% higher

22Jan

ASX hits record high: Aus shares close 0.9% higher

 

It’s been another record day of trade for the Australian share market with the ASX hitting a new high closing 0.9 per cent up. PolyNovo (ASX:PNV) led the gains after the company secured product sales across Europe and shares in Fortescue Metals (ASX: FMG) also continued to rally. As for the sectors, all were in the green with Consumer Staples leading the day and Utilities falling lowest.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 66 points higher to finish at 7,133.

Futures market

Dow futures are suggesting a lift of 103 points.
S&P 500 futures are eyeing a rise of 16 points.
The Nasdaq futures are eyeing a lift of 61 points.
The ASX200 futures are eyeing a 74 point rise for tomorrow morning.

Citi has rated Stockland Corporation (ASX:SGP) as a Sell. The broker’s analysts have conducted a deep dive analysis into Stockland's retail and residential businesses, combined good for circa 81% of group earnings. Their conclusion is both divisions have been over-earning and a range of factors will start weighing on the outlook.
The target price has lifted to $4.10 from $3.87 despite the analysts maintaining the outlook remains for a flat earnings growth profile. Retail earnings in particular are being singled out as the most likely source of future disappointment. Shares in Stockland Corporation (ASX:SGP) closed flat at $4.99.

Company news

Tech giant iSighthis (ASX:ISX) has updated shareholders in regards to court action against the ASX. The company stated the first directions hearing before the court is scheduled for 7th February. iSignThis also highlighted the ASX is not a regulator and that their imposed suspension is affecting the company’s growth as well as dampening demand from potential customers. Shares in iSighhis (ASX:ISX) last traded at $1.07.

Looking at some more headlines:

CIMIC Group's (AXS:CIM) UGL secured $180m in mining contracts.

PolyNovo (ASX:PNV) has received its first orders of Novosorb BTM for use in Germany, Austria and Switzerland.

Gold miner Regis Resources (ASX:RRL) has reported $100 million in cash flow from operations on production for the quarter, that’s up $17.5 milllion.

Best and worst performers of the day

The best performing sector was Consumer Staples adding 2.9 per cent while the sector with the fewest gains was Utilities, adding 0.1 per cent.

The best performing stock in the S&P/ASX 200 was PolyNovo (ASX:PNV), rising 11 per cent to close at $2.83. Shares in The A2 Milk Company (ASX:A2M) and Fortescue Metals (ASX:FMG) followed higher.

The worst performing stock in the S&P/ASX 200 was AP Eagers (ASX:APE), dropping 5.8 per cent to close at $9.58. Shares in St Barbara (ASX:SBM) and Sandfire Resources (ASX:SFR) followed lower.

Asian markets

Japan’s Nikkei has gained 0.6 per cent, Hong Kong’s Hang Seng has added 0.9 per cent and the Shanghai Composite has lost 0.2 per cent.

Commodities and the dollar

Gold is trading at US$1,553 an ounce. 
Iron ore price has gained 0.1 per cent at US$96.80.
Iron ore futures are eyeing a fall of 0.1 per cent.
Light crude is US$0.14 down at US$58.24 a barrel.
One Australian dollar is buying 68.41 US cents.

Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

23Mar

Insurance sector hit with storm of damage claims: ASX tracking 0.2% higher

21 Mar 2021 - The ASX has made a quick U-turn from a weak start this morning to bounce back up into positive territory at 6723. The Insurance Council of Australia (ICA) has declared an insurance catastrophe, as shares in QBE Insurance (ASX:QBE), Suncorp (ASX:SUN) and IAG (ASX:IAG) are drenched in red

Read More
19Jan

Tech stocks lift major US averages

19 Jan 2024 - Tech companies, led by Apple, powered the market Thursday and pulled the major averages into positive territory.

Read More
19Sep

Oil continues to slip after shortfall from Saudi attacks: Aus shares close 0.5% higher

19 Sep 2019 - It has been a positive day of trade for the ASX. After a rise at the open it manage to track sideways to close 0.5% higher. Shares in Speedcast International (ASX:SDA) and Bega Cheese (ASX:BGA) rose. Brickworks (ASX:BKW) today announced a record underlying NPAT from continuing operations of $234m, up 4% on the prior year.

Read More
15Jun

Australia records largest ever travel decrease – ABS: Aus shares close 2.2% lower

15 Jun 2020 - The Australian share market fell at the open and continued to fall throughout the day closing 2.2 per cent down at the end of trade. Australia has recorded its largest ever decrease in overseas travel in April.

Read More
01Apr

Boral (ASX:BLD) announces buy-back offer after $1.33b US sale: ASX 0.4% higher at noon

01 Apri 2021 - The ASX opened higher and lifted by 0.5% in early trade, then faded towards noon. Technology and mining shares are leading the gains while Industrials, Energy, Consumer staples weighed on the market. Boral (ASX:BLD) completes the sale of its 50% stake in the USG Boral joint venture to Gebr Knauf KG for $1.33 billion dollars. Greater Brisbane lockdown is set to lift at midday with travel stocks in the red despite its improved performance yesterday.

Read More
29Jan

oOh!media (ASX:OML) shares fell as CEO plans to step down: ASX closed 0.5% higher

29 Jan 2020 - It has been a positive day of trade for the ASX the local bourse managed to close 0.5% higher. oOh!media (ASX:OML) shares dropped today after announcing Managing Director & CEO Brendon Cook will step down this year. American investment firm Starwood Capital Group is set to make a $485 million all-cash offer for Australian Unity Office Fund (ASX:AOF).

Read More
12Nov

Record low levels of travel continue in September: ASX tracking 0.3% lower at noon

12 Nov 2020 - The ASX rose at the open and is now tracking 0.3% lower at noon. Shares in Xero (ASX:XRO) are up after they reported their its six month revenue rose 21% and shares in Telstra (ASX:TLS) are up after they reported a restructure for the company. Centuria Office REIT (ASX:COF) to divest minority interest in a Sydney office block.

Read More
09Apr

Uncertainty around vaccine schedule: Aus shares close 2.4% higher over week

09 Apr 2021 - The Australian sharemarket wrapped up its Friday trading session in negative territory, after spending five consecutive days in the black. Uncertainty around the Australian government’s vaccine roll-out schedule dealt a blow to travel stocks. The Australian tech sector outperformed other sectors.

Read More
14Jan

Job vacancies increased by 23% in November quarter: ASX tracking 0.3% lower at noon

13 Jan 2021 - The ASX opened lower this morning. The S&P/ASX 200 Index is 18 points down or 0.3% lower at 6,662. Futures are pointing to a fall of 18 points. Share in Premier Investments (ASX:PMV) hit an all-time high after reporting that they expect a significant uplift in first half profit.

Read More
11Aug

Trump evacuated from White House after a shooting outside: ASX to open flat

11 Aug 2020 - Following positive leads from US markets, the ASX looks set to open higher this morning. The Dow rallied as the Nasdaq struggled somewhat with some big tech stocks slipping. President Donald Trump extended coronavirus relief. He was evacuated from that press briefing due to a shooting outside of the White House. James Hardie (ASX:JHX) released their results today showing management expects full-year adjusted net operating profit to be between US$330 million and US$390 million.

Read More