Best day for the market in two months: ASX closes 3.9% higher
It has been a positive day of trade for the Australian share market. The local bourse managed to close 3.9 per cent higher. All the sectors ended the day in the green. Energy closed the day the highest, with Viva Energy pushing up the sector, rising over 15 per cent after a profit upgrade. They supply Shell fuels and lubricants.
The S&P/ASX200 index
At the closing bell the S&P/ASX 200 index closed 223 points higher to finish at 5,942.
Futures market
Dow futures are suggesting a rise of 419 points.
S&P 500 futures are eyeing a lift of 35 points.
The Nasdaq futures are eyeing a rise of 111 points.
And the ASX200 futures are eyeing a 228 point rise tomorrow morning.
Local economic news
Total payroll jobs increased by 1.0 per cent through May,
Residential property prices rose 1.6 per cent in the March quarter 2020. All capital cities recorded a rise in residential property prices in the March quarter 2020, with Australia's two largest cities, Sydney (+1.9 per cent) and Melbourne (+2.1 per cent), continuing to lead the rises.House prices rose 2.6 per cent in Sydney and 2.3 per cent in Melbourne.
Company news
Cedar Woods (ASX:CWP) is pleased to advise that it has extended the tenure of its $30 million finance facility for the Williams Landing Shopping Centre in Melbourne. The Centre opened in December 2014, comprising a Woolworths supermarket, 21 specialty stores and 1,800 square metres of office space and was further expanded in 2017 with a 106-place childcare facility and around 1,200 square metres of additional ground floor retail space. The finance facility is provided by Bankwest, a division of Commonwealth Bank of Australia, and extends the previous facility by a further three years to June 2023. Shares in Cedar Woods (ASX:CWP) closed 1.1 per cent higher at $5.55.
MacMahon (ASX:MAH) has stuck to guidance for full year EBITDA to land between $85 million to $95 million on sales between $1.3 billion to $1.4 billion. The mining services business says the pandemic has had a minimal impact on its productivity, supply chains and margins.
Phoslock Environment Technologies (ASX:PET) has slashed its short term forecasts to a range of $30 – 40 million for full year 2020.
Starpharma (ASX:SPL) today announced that VivaGel BV has been launched in Central and Eastern European region. VivaGel BV is available Over-The-Counter in the region, without the need to see a doctor or obtain a prescription.
Best and worst performers of the day
The best performing sector was Energy adding 5.8 per cent while the worst performing sector was Utilities, gained the least at 1.6 per cent.
The best performing stock in the S&P/ASX 200 is Viva Energy Group (ASX:VEA) rising 15.5 per cent to $1.76, followed by shares in Ooh!Media (ASX:OML) and IOOF Holdings (ASX:IFL).
The worst performing stock in the S&P/ASX 200 is Saracen Mineral Holdings (ASX:SAR) dropping 0.9 per cent to $4.64, followed by shares in Pro medicus (ASX:PME) and Jumbo Interactive (ASX:JIN).
Asian markets
Higher: Japan’s Nikkei has added almost 5 per cent, Hong Kong’s Hang Seng has added 2.9 per cent and the Shanghai Composite has added 1.3 per cent.
Commodities and the dollar
Gold is trading at US$1,723 an ounce.
Iron ore price is 1.5 down at US$103.44
Iron ore futures are pointing to a rise of 1 per cent.
Light crude is US$0.03 higher at US$38.46 a barrel.
One Australian dollar is buying 69.36US cents.
Copyright 2020 – Finance News Network
Source: Finance News Network
