Materials the only sector to shed today: ASX closed 0.7% higher
The local sharemarket rose at the open and managed to close 44 points up or 0.7 per cent higher at 6,643. Shares in Mesoblast (ASX:MSB) rallied today despite no new news from them. Materials only sector that shed today.
Futures
The Dow futures are suggesting a fall of 33 points. S&P 500 futures are eyeing a dip of 5 points. The Nasdaq futures are eyeing a drop of ten points. And the SPI futures are eyeing a gain of 57 points tomorrow morning.
Economic News
Exports of goods in November 2020 increased $166 million that’s up 1 per cent. Imports of goods in November 2020 increased $2,892 million that’s up 11%.
Company news
Origin Energy (ASX:ORG) will invest an additional £36 million (approximately $65 million) in Octopus Energy Group to maintain its 20 per cent equity interest following a partnership between Octopus and Tokyo Gas that will see the launch of Octopus into the Japanese market. Under the agreements, leading Japanese utility Tokyo Gas will take a 9.7 per cent equity share in Octopus for a consideration of US$200 million. Octopus and Tokyo Gas will also establish a new retailer, called TG Octopus Energy. Shares in Origin Energy (ASX:ORG) closed 1.7 per cent higher at $4.79.
Fonterra (ASX:FSF) has received anti-trust clearance in China to sell its two wholly-owned farming hubs to Inner Mongolia Natural Dairy Co. Ltd, a subsidiary of China Youran Dairy Group.
Bigtincan (ASX:BTH) has agreed to pay $22.6 million for ClearSlide, a sales engagement technology platform leader with hundreds of customers across three continents.
Infratil (ASX:IFT) confirms that its acquisition of 56.25 per cent of Qscan has been completed for total cash equity consideration of $289.6 million.
Best and worst performers
The best-performing sector is Real Estate Investment Trust gaining 2.1 per cent while the sector trailing behind was Materials dropping 0.4 per cent.
The best performing stock in the S&P/ASX 200 is Mesoblast (ASX:MSB) rising 9.2 per cent to $2.37, followed by shares in Smart Group Corp (ASX:SIQ) and G.U.D Holdings (ASX:GUD).
The worst performing stock in the S&P/ASX 200 was Resolute Mining (ASX:RSG) dropping 3.8 per cent to $0.77, followed by shares in Ramelius Resources (ASX:RMS) and WestGold Resources (ASX:WGX).
Asian markets higher
Japan’s Nikkei has gained 0.3 per cent Hong Kong’s Hang Seng has added 0.6 per cent and the Shanghai Composite has gained 1 per cent.
Commodities
Gold is trading at US$1,867 an ounce.
Iron ore has lost 6.8 per cent to $164.53.
Iron ore futures are suggesting a fall of 5.4 per cent.
Light crude has lost $0.67 cents to $45.99..
One Australian dollar is buying 75.51US cents.
Copyright 2020 – Finance News Network
Source: Finance News Network
