PolyNovo (ASX:PNV) supplies burn cream to volcano victims: ASX closed 1.6% higher

It has been a huge day of trade for the Australian share market seeing its biggest one day gain since February. After rising at the open it continued to climb closing 1.6 per cent higher. Nearmap (ASX:NEA) is now the biggest gainer. Virgin Money UK (ASX:VUK) also added. Perenti Global (ASX:PRN) slipped to their lowest price since August. Earlier today they slashed their full year profit forecast from $140 million to approximately $115 – $120 million after a Ghana manganese company terminated its contract with their African subsidiary. As for the sectors today Utilities led the day and Consumer Staples gained the least.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 110 points higher to finish at 6,850.

Futures market

Dow futures are suggesting a rise of 11 points.
S&P 500 futures are eyeing a rise of 9 points.
The Nasdaq futures are eyeing a lift of 26 points.
And the ASX200 futures are eyeing a 108 point rise tomorrow morning.

Company news

PolyNovo (ASX:PNV) has supplied NovoSorb BTM to three hospitals in New Zealand and two Australian Hospitals for dermal repair after the recent tragedy at White Island in New Zealand where a volcano erupted. There are further surgeries scheduled for the week ahead with these patients and the Polynovo team is working closely with the hospital teams. NovoSorb BTM mitigates some of the serious challenges inherent in treating mass trauma and burns. Shares in PolyNovo (ASX:PNV) closed 3.1 per cent higher at $2.00.

Oilex (ASX:OEX) is pleased to announce that the date for the satisfaction of the conditions for the acquisition of 27 Petroleum Retention Licenses (PRLs) in the Cooper-Eromanga Basins from Senex Energy (ASX:SXY) and certain of its related entities has been extended by two months to 29 February 2019. Shares in Senex Energy (ASX:SXY) closed 2.9 per cent lower at $0.34.

Australian Pharmaceutical Industries (ASX:API) has sold all of its shares in Sigma Healthcare. API has sold over 137 million Sigma shares. Following the transaction API holds no shares in Sigma.

Keytone Dairy Corporation (ASX:KTD) has received all regulatory approvals for its second manufacturing facility in New Zealand allowing it to manufacture and export formulated dairy nutritional products.

IPO

Open Pay (ASX:OPY) started trading today. They are a provider of payments technology that offers a Buy Now, Pay Later product. Their issue price was $1.60, they started trading at $1.65 and are currently trading at $1.33.

Best and worst performers of the day

The best performing sector was Utilities adding 3.4 per cent while the worst performing sector was Consumer Staples, gaining the least at 0.3 per cent.

The best performing stock in the S&P/ASX 200 was Virgin Money UK (ASX:VUK), rising 8.8 per cent to close at $4.10. Shares in Nearmap (ASX:NEA) and Saracen Mineral Holdings (ASX:SAR) followed higher.

The worst performing stock in the S&P/ASX 200 was Perenti Global (ASX:PRN), dropping 18.9 per cent to close at $1.70. Shares in SmartGroup Corp (ASX:SIQ) and Gold Road Resources (ASX:GOR) followed lower.

Asian markets

Japan’s Nikkei is flat, Hong Kong’s Hang Seng has lost 0.4 per cent and the Shanghai Composite is also flat.

Commodities and the dollar

Gold is trading at US$1,475 an ounce.
Iron ore price is 0.6 per cent higher at US$94.63
Iron ore futures are pointing to a fall of 0.8 per cent.
Light crude is US$0.92 up at US$59.98 a barrel.
One Australian dollar is buying 68.73 US cents.

Source: Finance News Network