Healthcare leads the sectors: ASX close 0.1% higher

01Nov

Healthcare leads the sectors: ASX close 0.1% higher

 

The Australian share market drifted lower following soft leads from Wall Street this morning but managed to pick up momentum and is now tracking 0.1 per cent higher at noon. Iluka (ASX:ILU) shares are still dropping after they flagged $2 billion demerger of BHP iron ore royalties. The ANZ (ASX:ANZ) extended its losses. As for the sectors today Healthcare led the day and Financials fell lower.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 6 points higher to finish at 6,669.

Futures market

Dow futures are suggesting a 60 points up
S&P 500 futures are eyeing a rise of 8 points.
The Nasdaq futures are eyeing a lift of 31 points.
And the ASX200 futures are eyeing a 10 point rise for Monday morning.

Economic News

The Australian Bureau of Statistics said that final demand producer prices in Australia were up 0.4 per cent on quarter in the third quarter of 2019, matching expectations and unchanged from the three months prior.

Company news

Gowing Bros (ASX:GOW) has sold Moonee Market Shopping Centre in the NSW Coffs Harbour district. The sale price was $30.5 million, exceeding its value in Gowings accounts. The centre was originally purchased in April 2010 for $13.2 million. Gowings investment into Moonee Market shopping centre has delivered a significant capital gain for its share holders. Net sale proceeds to be redirected to other development opportunities. Shares in Gowing Bros (ASX:GOW) last traded at $2.26.

Propel Funeral Partners (ASX:PFP) has completed the acquisition of Grahams Funeral Services, and certain freehold properties, in the North Island of New Zealand. Shares in Propel Funeral Partners (ASX:PFP) closed flat at $3.16.

AP Eagers (ASX:APE) completed its sale of the Kloster Motor Group business to the Tony White Group yesterday. The sale generated an expected profit before tax of approximately $20 million.

Investment bank and financial services company, Macquarie Group (ASX:MQG) report an 11 per cent increase in net profit compared to the first half of 2019. However, if you compare these figures to the second half of 2019, the company experience a 13 per cent decrease.

Automotive aftermarket parts company, Bapcor (ASX:BAP), has penned agreements to purchase both Truckline and Diesel Drive. Both businesses are set to be purchased for a combined price of approximately $48 million and are scheduled for completion this year.

Best and worst performers

The best performing sector was Healthcare adding 1.1 per cent while the worst performing sector was Financials, shedding 0.8 per cent.

The best performing stock in the S&P/ASX 200 was New Hope Corp (ASX:NHC), rising 6.6 per cent to close at $2.27. Shares in Pilbara Minerals (ASX:PLS) and CSR (ASX:CSR) followed higher.

The worst performing stock in the S&P/ASX 200 was Jumbo Interactive (ASX:JIN), dropping 8 per cent to close at $20.44. Shares in Pro Medicus (ASX:PME) and Costa Group Holdings (ASX:CGC) followed lower.

Asian markets

Mixed: Japan’s Nikkei has lost 0.5 per cent, Hong Kong’s Hang Seng has added 0.4 per cent and the Shanghai Composite has added 0.7 per cent.

Commodities and the dollar

Gold is trading at US$1,511 an ounce.
Iron ore price is 1.3 per cent lower at US$85.97.
Iron ore futures are pointing to a lift of 0.8 per cent.
Light crude is US$0.04 lower at US$54.14 a barrel.
One Australian dollar is buying 69.05
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

19Aug

US markets stronger on energy: US housing market resilient

19 Aug 2022 - US equities finished higher in uneventful Thursday trading, though off best levels. More data released Thursday provided clues into the state of both the jobs and housing markets. Initial jobless claims fell to 250,000 for the week ended Aug. 13, while existing home sales dropped nearly 6 per cent in July.

Read More
25Sep

Cue Energy (ASX:CUE) settles litigation: Aus shares close 1.5% higher

25 Sep 2020 - It has been a positive day of trade for the Australian share market. The ASX200 index rose in early trade, and tracked sideways for most of the day to close 1.5 per cent higher. Shares in the Big 4 banks jumped today on news that the Federal government is looking to ease responsible lending laws.

Read More
19Nov

Wall St closes little changed: Aus shares to open flat

19 Nov 2019 - The local sharemarket is poised to open flat following a quiet session on Wall Street on Monday. In the US stocks reached fresh records but pared back to close the session little changed. The technology sector posted some of the bigger gains while energy stocks pulled back as crude oil fell. Synlait (ASX:SM1) and The a2 Milk Company have extended their supply agreement to 2025.

Read More
28Sep

$US strength remains the dominant theme

28 Sep 2022 - US equities were mixed in fairly choppy Tuesday trading, closing off the worst levels, with the dominant theme the strength of the US dollar. As inflation plays out across the globe the intervention of central banks has been co-ordinated. With the Fed’s tightening ahead of its peers in the high-income countries causing the $US to surge. The most important question investors are now asking is whether monetary tightening could go too far. Either way what...

Read More
02Dec

Aus housing prices surge: Aus shares 0.5% higher at noon

2 Dec 2019 - The Australian share market has risen sharply this morning as investors await a big week of local economic data. All of the sectors except energy are in the green. Buy now pay later company Sezzle (ASX:SZL) has secured a US$100 million debt facility to support future growth.

Read More
12Mar

S&P500 and the Dow reset record highs: Aus shares set to open higher

12 Mar 2021 - The SPI indicates that the Aussie market will rise at the open. This follows a broad rally on Wall Street, bolstered by tech stocks which boosted the S&P500 and the Dow to new record highs. CHAB Office Trust, which is part owned by Charter Hall Group (ASX:CHC) and Abacus Property Group (ASX:ABP) is set to buy 241 Adelaide Street, Brisbane.

Read More
23May

US markets trade lower as inflation concerns resurface

23 May 2024 - All three major indexes fell into the red after the minutes from the Federal Reserve’s May meeting raised concerns of persistent inflation, suggesting any rate cuts are likely to be pushed out further.

Read More
26May

Wall St loses momentum, gold climbs near 4-month high: ASX to fall

26 May 2021 - The ASX is set to fall following Wall St closing in the red as all three indexes reversed their gains. Morgan Stanley rates Synlait Milk (ASX:SM1) as a hold with a price target of $2.55. Profit results from ALS (ASX:ALQ) and Mesoblast (ASX:MSB) are due today.

Read More
22Feb

Nasdaq falls as Nvidia posts record revenue after bell

22 Feb 2024 - The Nasdaq Composite slid for a third session in a row Wednesday. Nvidia achieved record-breaking revenue growth of 265 per cent, surpassing Wall Street's expectations for both earnings and sales in its latest earnings report.

Read More
30Jan

S&P 500 soars to record high amid mega-cap tech earnings and Fed decision

30 Jan 2024 - The S&P 500 rose Monday and headed for a fresh record high as Wall Street looked toward several mega-cap tech earnings reports and the Federal Reserve’s rate policy decision.

Read More