Consumer Sentiment fell by 4.5% in January: ASX tracking 0.5% higher at noon

20Jan

Consumer Sentiment fell by 4.5% in January: ASX tracking 0.5% higher at noon

 

The local bourse rose at the open and has remained steady in the first two hours of trade. The S&P/ASX 200 index is 33 points up or 0.5 per cent higher at 6,775. On the futures market the SPI is suggesting a rise of 37 points. Shares in PolyNovo (ASX:PNV) went up today after they announced they are moving into Poland and Turkey. Meanwhile shares in Megaport (ASX:MP1) have dropped.

Local economic news

The Westpac-Melbourne Institute Index of Consumer Sentiment fell by 4.5% to 107 in January from 112.0 in December.

Broker call

UBS rates Centuria Industrial REIT (ASX:CIP) as an Upgrade to a Buy from a Neutral on the basis that the direct market for industrial assets remains strong in 2021 and will drive cap rate compression. The broker sees the REIT offering a more defensive exposure as compared to BWP Trust with better growth prospects and a higher weighted average lease expiry.
Target rises to $3.38 from $3.23. Shares in Centuria Industrial REIT (ASX:CIP) are currently steady at $3.01.

Company news

Nickel Mines (ASX:NIC) has negotiated to acquire an additional 10 per cent of Angel Nickel, for $70 million US increasing Nickel Mines’ total ownership to 80 per cent. Angel Nickel is located within the Indonesia Weda Bay Industrial Park (‘IWIP’) will more than double Nickel Mines’ attributable nickel metal production based on nameplate capacities of its Rotary Kiln Electric furnace projects. Shares in Nickel Mines (ASX:NIC) are trading 3.7 per cent higher at $1.27.

Best and worst performers

The best-performing sector is Infotech gaining 2.1 per cent while the sector trailing behind is Real Estate Investment Trust losing 0.1 per cent.
The best performing stock in the S&P/ASX 200 is Polynovo (ASX:PNV) rising 6.5 per cent to $2.64, followed by shares in Netwealth Group (ASX:NWL) and Wisetech Global (ASX:WTC).
The worst performing stock in the S&P/ASX 200 is Megaport (ASX:MP1) dropping 6.7 per cent to $11.96, followed by shares in Pro Medicus (ASX:PME) and Whitehaven Coal (ASX:WHC).

Commodities

Gold is trading at US$1,846 an ounce.
Iron ore has gained 0.4 per cent to $170.03.
Futures are suggesting a fall of 0.7 per cent.
One Australian dollar is buying 77.07 US.
 
Copyright 2021 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

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
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
06May

Nasdaq craters 5% on Wall St slide, Macquarie, Adbri, APA, Whitehaven Coal on watch: ASX to dive

06 May 2022 - Wall St tumbled over 3 per cent with the Nasdaq cratering 5 per cent as investors reassess the Fed's comments. OPEC+ agrees to modest increase to output. The Bank of England raised rates and slashed its growth outlook. SPI futures pointing to 1.5% drop

Read More
23Mar

Energy sector leads the losses: ASX closes the day 0.1% lower

23 Mar 2021 - At the closing bell the S&P/ASX 200 index closed 7 points lower, or 0.1 per cent lower to finish at 6,745. Airtasker (ASX:ART) started trading today. E-Health SaaS company Respiri (ASX:RSH) is pleased to report the US Food and Drug Administration has cleared wheezo for sale in the US.

Read More
14Jan

Lithium shares continue to rally: Aus shares close 0.9% higher

14 Jan 2020 - It’s been a positive day of trade for the Australian share market closing 0.9 per cent higher. Kangaroo Island Plantation Timbers (ASX:KPT) report further damage.

Read More
12Sep

Trump delays Chinese tariffs: ASX poised to open higher

13 Sep 2019 - Following positive leads from US markets, the ASX looks set to open higher this morning. Stocks on Wall Street rose yesterday. Earlier this week President Donald Trump agreed to delay an additional increase in tariffs on Chinese goods. Integrated Research (ASX:IRI) is pleased to announce the appointment of Mr John Ruthven as Managing Director.

Read More
08Dec

IPOs fail to gain momentum today: ASX closed 0.2% higher

08 Dec 2020 - The ASX managed to close 0.2% higher. Shares in Link Administration Holdings (ASX:LNK) were the best today after they received a proposal from NASDAQ listed SS&C Technology Holdings. Shares in ZIP Co (ASX:Z1P) took a hit today. We had a couple of IPO’s today that didn’t fare so well. Adairs (ASX:ADH) boost their guidance after strong sales expectations.

Read More
14Mar

S&P 500 retreats as Nvidia’s momentum slows

14 Mar 2024 - On Wednesday, the S&P 500 pulled back from a record reached in the previous session, as Nvidia cooled off from its red-hot rally.

Read More
07Sep

Seesaw session sees shares end 0.3% higher: banks and miners offset industrials drag

07 Sep 2020 - The Australian share market finished a seesaw session firmly higher after a late rally. Biotech giant CSL (ASX:CSL) closed 1 per cent higher after news the Federal Government will fund the company to help it manufacture a COVID-19 vaccine. The major banks and miners helped to offset losses in energy and industrials. Shares slipped to one month lows at the open but clawed back to finish up 19 points or 0.3 per cent higher at...

Read More
13Dec

M&A activity on the rise as markets bounce: The EU looks to Chile to secure battery minerals

13 Dec 2022 - Markets jumped Monday, clawing back some of the steep losses from the previous week, as traders looked ahead to a highly anticipated Federal Reserve meeting and new inflation data. M&A activity is on the rise as three billion dollar deals were announced overnight.

Read More