Breville (ASX:BRG) shot up 27.6%: ASX closed 0.2% higher
It has been a positive day of trade for the Australian share market, the local bourse managed to close 0.2 per cent higher. TPG (ASX:TPM) shares shot up this morning after merger plans with Vodafone were given the go ahead. Shares in Downer (ASX:DOW) continue to fall after reporting a fall in first half profit yesterday. Treasury Wine Estates (ASX:TWE) shares are tumbling after reporting yesterday that their current CEO, Michael Clarke, will retire in July. Breville (ASX:BRG) shares meanwhile shot up after reporting half-year net profit up by 14.1 per cent. Lynas Corporation (ASX:LYC) shares also rose after reports they have submitted their licence renewal documentation to the Malaysian Atomic Energy Licensing Board. As for the sectors today Utilities led the day and Consumer Staples fell lower.
The S&P/ASX200 index
At the closing bell the S&P/ASX 200 index closed 15 points higher to finish at 7,103.
Futures market
Dow futures are suggesting a fall 106 points.
S&P 500 futures are eyeing a fall of 12 points.
The Nasdaq futures are eyeing a dip of 46 points.
And the ASX200 futures are eyeing a 5 point rise tomorrow morning.
Company news
Collins Foods (ASX:CKF) is pleased to announce the settlement of the Federal Court proceedings commenced by Taco Bill Mexican Restaurants. Taco Bill and Taco Bell will now coexist in Victoria after the parties announced a settlement of their legal dispute. As a result, Collins Foods will continue to open and operate Taco Bell restaurants in Victoria. Shares in Collins Foods (ASX:CKF) closed 2.6 per centhigher at $9.81.
Vodafone Hutchison Australia welcomes the Federal Court’s decision to allow the proposed merger with TPG Telecom (ASX:TPM) to proceed. It looks likely the merger should be completed in mid-2020. TPG has been placed in a trading halt.
Caltex Australia (ASX:CTX) has received a revised, conditional, nonbinding and indicative proposal from Alimentation Couche-Tard Inc. to acquire all of the shares in Caltex by way of a scheme of arrangement at an indicative cash price of $35.25 cash per share.
Telstra (ASX:TLS) has reported a 7.6 per cent drop in first-half profit to $1.14 billion.
Best and worst performers of the day
The best performing sector was Utilities adding 1.6 per cent while the worst performing sector was Consumer Staples, shedding 0.8 per cent.
The best performing stock in the S&P/ASX 200 was Breville Group (ASX:BRG), rising 27.6 per cent to close at $25.50. Shares in TPG Telecom (ASX:TPM) and Lynas Corp (ASX:LYC) followed higher.
The worst performing stock in the S&P/ASX 200 was Treasury Wine Estates (ASX:TWE), dropping 5.7 per cent to close at $11.18. Shares in Inghams Group (ASX:ING) and Downer (ASX:DOW) followed lower.
Asian markets
Lower: Japan’s Nikkei has lost 0.3 per cent, Hong Kong’s Hang Seng has also lost 0.3 per cent and the Shanghai Composite has lost 0.7 per cent.
Commodities and the dollar
Gold is trading at US$1,573 an ounce.
Iron ore price is 0.9 per cent higher at US$87.68.
Iron ore futures are pointing to a rise of 1.1 per cent.
Light crude is US$0.50 up at US$51.91 a barrel.
One Australian dollar is buying 67.17 US cents.
Copyright 2020 – Finance News Network
Source: Finance News Network
