AUD rallies against the USD: ASX closed 0.7% higher
The Australian share market shot up at the open and closed 0.7 per cent higher. The Australian dollar has strengthened against the US greenback reaching well over 70 cents. Gold is rallying. As for the sectors, Infotech led the day.
The S&P/ASX200 index
At the closing bell the S&P/ASX 200 index closed 45 points higher to finish at 6.051.
Futures market
Dow futures are suggesting a fall of 47 points.
S&P 500 futures are eyeing a dip of 9 points.
The Nasdaq futures are eyeing a fall of 25 points.
And the ASX200 futures are eyeing a 38 point rise tomorrow morning.
Local economic news
Total payroll jobs decreased by 1.1 per cent in Australia between mid-June and mid-July according to figures released by the Australian Bureau of Statistics today.
In Victoria, payroll jobs decreased by 2.2 per cent between mid-June and mid-July as additional COVID-19 restrictions were progressively introduced, with jobs 7.3 per cent below mid-March in this state.
The number of dwellings approved fell 4.9 per cent to an eight year low in June.
Company news
Nufarm (ASX:NUF) is please to report Canadian regulatory authorities have approved Nufarm's propriety Nuseed Omega-3 Canola relating to cultivation, use in aquafeed and livestock feed, and for human consumption. In releasing its assessment, Health Canada determined that the highly refined oil derived from Nuseed Omega-3 Canola is as safe for human consumption as traditional canola oil currently used as or in foods in Canada. It’s also been classed as suitable for aquafeed and livestock feed. Shares in Nufarm (ASX:NUF) closed at 1.2 per cent higher at $4.13.
Commonwealth Bank (ASX:CBA) has announced a new $300 million provision being made to pay remediation to customers for problematic financial advice highlighted by the Hayne royal commission, including charging fees for no service and providing inappropriate advice.
Global instalment payments solution business Splitit Payments Ltd (ASX:SPT), report record growth for the quarter with merchant sales volume up 260 per cent year on year to $65.4 million US – that’s $91.1 million.
Centuria Capital Group (ASX:CNI) has announced the appointment of Natalie Collins to the Boards of Centuria Property Funds No. 2, Centuria Life and Over Fifty Guardian Friendly.
Best and worst performers of the day
The best-performing sector is Infotech gaining 2.4 per cent, while the worst performing sector is Utlities losing 0.4 per cent.
The best performing stock in the S&P/ASX 200 is ALS (ASX:ALQ) rising 6.5 per cent to $8.83, followed by shares in Credit Corp (ASX:CCP) and Wisetech Global (ASX:WTC)
The worst performing stock in the S&P/ASX 200 is Ioof Holdings (ASX:IFL) dropping 7.8 per cent to $4.86, followed by shares in Sandfire Resources (ASX:SFR) and Unibail-Rodamco-Westfrield (ASX:URW).
Asian markets
Mixed: Japan’s Nikkei has lost 0.3 per cent, Hong Kong’s Hang Seng has added 0.5 per cent and the Shanghai Composite has added 0.07 per cent.
Commodities and the dollar
Gold is trading at US$1,960 an ounce.
Iron ore price is 3.7 per cent higher at US$110.57.
Iron ore futures are pointing to a rise of 1.2 per cent.
Light crude is US$0.11 lower at US$41.16 a barrel.
One Australian dollar is buying 71.47US cents.
Copyright 2020 – Finance News Network
Source: Finance News Network
