Crown (ASX:CWN) stops donating to political parties: ASX tracking 0.8% higher at noon

16Mar

Crown (ASX:CWN) stops donating to political parties: ASX tracking 0.8% higher at noon

 

The Australian share market opened higher this morning and is now tracking 0.8 per cent higher at noon. The S&P/ASX 200 index is 52 points up at 6,824. On the futures market the SPI is 44 points higher.

Broker moves

UBS rates Stockland Group (ASX:SGP) as a Downgrade to a Neutral from a Buy. The broker assesses Stockland has benefited significantly from government policy aimed at strengthening the new residential sector as well is a structural shift from urban centres caused by the pandemic. Nevertheless, the strength in residential markets means risks around macro prudential policy are heightened.Target is steady at $4.50. Shares in Stockland Group (ASX:SGP) are currently 1.03 per cent higher at $4.42.

Company news

Crown Resorts Limited (ASX:CWN) has today announced that Crown and its associated entities will cease making monetary or in-kind political donations, effective immediately. Shares in Crown Resorts Limited (ASX:CWN) are trading 1.6 per cent higher at $10.17.

IPOs

Diversified Metals & Mining, Bastion Minerals Limited (ASX:BMO) started trading today. It issued shares at $0.20 and started trading on the ASX at $0.20 and is currently trading at $0.20.

Best and worst performers

The best-performing sector is Real Estate Investment Trust, adding 2 per cent, while the worst performing sector is Energy, shedding 0.3 per cent.

The best performing stock in the S&P/ASX 200 is ARB Corporation (ASX:ARB), rising 4.2 per cent to $35.96, followed by shares in Charter Hall Group (ASX:CHC) and IDP Education (ASX:IEL).

The worst performing stock in the S&P/ASX 200 is Viva Energy Group (ASX:VEA), dropping 1.4 per cent to $1.73, followed by shares in Metcash (ASX:MTS) and Silver Lake Resources ASX:SLR).

Commodities and the dollar

Gold is trading at US$1,731 an ounce.
Iron ore price fell 3.1 per cent to US$165.44.
Iron ore futures are pointing to a rise of 2.8 per cent.
One Australian dollar is buying 77.45 US cents.

Our investor event is on Mar 23, 5 companies presenting starting 12:30pm details including registration at the link https://www.finnewsnetwork.com.au/page/investor-events.
 
Copyright 2021 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

28May

Upbeat Chinese & US data stimulate investor appetite: Aus shares to open higher

28 May 2021 - The Australian sharemarket is poised to advance at the open, stimulated by strong leads from the US and China driven by upbeat data and soaring base metals prices.

Read More
31Jan

WHO shift sentiment on coronavirus: ASX poised to open higher

31 Jan 2020 - Following positive leads from US markets, the ASX looks set to open higher this morning. The shift comes as the WHO says that it sees no reason for measures regarding the coronavirus that unnecessarily interfere with international travel and trade. Perpetual (ASX:PPT) today announced its intention to acquire Trillium Asset Management a Boston-based specialist ESG investment firm with FUM of $5.5b.

Read More
19Apr

Flat finish: Aus shares close 0.03% higher

19 Apr 2021 - Flat finish: Aus shares close 0.03% higher. The market opened higher and peaked around lunchtime, before trending downwards, to finish just above water.

Read More
20Mar

UBS purchases Credit Suisse for US$3.25bn

20 Mar 2023 - Stocks fell Friday as investors pulled back from positions in First Republic and other bank shares amid lingering concerns over the state of the US banking sector.

Read More
15Jan

BNPL Payright (ASX:PYR) soars: Aus shares 0.3% higher at noon

15 Jan 2021 - The Australian share market opened slightly lower following negative leads from Wall Street, but is currently trading 0.3 per cent higher at noon. The tech sector is the best performer this morning and buy-now, pay-later player Afterpay (ASX:APT) is leading the gains and has hit a new record share price today. Australian buy-now, pay-later player, Payright (ASX:PYR), has reported a quarter-on-quarter jump of 28 per cent in gross merchandise value to $20.6 million for the...

Read More
25Feb

AUD hits 10-year low: Aus shares 1.3% lower at noon

25 Feb 2020 - The Australian share market plummeted at the open after the Dow plunged as Coronavirus fears grow. Blackmores to enter Indian market and launch pet supplements. Caltex (ASX:CTX) appoints interim CEO.

Read More
29Sep

Unprecedented Bank of England intervention avoids Lehman style event

29 Sep 2022 - The Dow Jones Industrial Average mounted a big comeback from its 2022 low as the Bank of England said it would buy bonds to stabilise its financial markets, the bank stressed it was not seeking to lower long-term government borrowing costs. Instead it sought to buy time to prevent a vicious circle in which pension funds have to sell gilts immediately to meet demands for cash.

Read More
15Sep

Oracle’s TikTok bid is under review: ASX to open lower

15 Sep 2020 - The ASX looks set to open lower this morning as US stocks closed higher on progress of a Covid-19 vaccine. AstraZeneca paused trials last week due to a potentially unexplained illness – today the UK will resume trials. Oracle surged 5% due to teaming with China's ByteDance to keep TikTok in the United States. Gold lifted on weakness of the American dollar. The price of crude slipped. Serko's (ASX:SKO) board chairman is standing down, succeeded...

Read More
07Sep

Aus shares rebound: CSL pushes higher after news of government funding for COVID-19 vaccine

07 Sep 2020 - Australian shares are bouncing back from a dip at the open. CSL has risen almost 1 per cent on news of its COVID-19 supply deal with the Federal Government. BHP Group has risen 2.5 per cent and Rio Tinto is up almost 3 per cent. The S&P/ASX 200 index is 25 points up or 0.4 per cent higher at 5950. On the futures market the SPI is 33 points higher.

Read More
29Sep

US stocks rise, Traders watch Treasury yields

29 Sep 2023 - Stocks rose Thursday, as Wall Street tried to regain some of this month’s steep losses and traders kept an eye on Treasury yields.

Read More