Reserve Bank of Australia holds cash rate: ASX closed 1.6% higher

05May

Reserve Bank of Australia holds cash rate: ASX closed 1.6% higher

 

It has been a mostly positive day of trade for the Australian share market, the local bourse managed to close 1.6 per cent higher. Shares in Collins Foods (ASX:CKF) lifted today after they reported KFC stores in Australia continue to show improvement in sales. The energy sector led the day and healthcare came in last.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 87 points higher to finish at 5,407.

Futures market

Dow futures are suggesting a rise of 188 points.
S&P 500 futures are eyeing a rise of 22 points.
The Nasdaq futures are eyeing a lift of 56 points.
And the ASX200 futures are eyeing a 84 point rise tomorrow morning.

Local economic news

The Reserve Bank of Australia today confirmed the official cash rate will be held at 0.25 per cent, the current policy settings will be maintained, including the yield on 3-year Australian Government bonds of 25 basis points.

Company news

NEXTDC (ASX:NXT) has successfully completed its Share Purchase Plan raising $191 million. 24.6 million new fully paid ordinary shares are expected to be issued. The New Shares will be issued to successful SPP applicants at $7.80 per share. In total, NEXTDC has raised $863 million, consisting of the $672 million institutional placement completed on 8 April 2020 and the SPP of $191 million. Shares in NEXTDC (ASX:NXT) closed 0.1 per cent higher at $9.45.

Sanitizer company Zoono Group (ASX:ZNO) invoiced business to business (B2B) sales in excess of NZ$11.0 million (unaudited) for the month of April. They also recently signed a number of new distribution agreements in the UK and Europe, such as Rentokil and West Yorkshire Police. London Underground and UK and German mainline trains and stations are also being treated by the company.

Kathmandu Holdings (ASX:KMD) have seen a surge in online sales and digital engagement during the month of April. Kathmandu and Rip Curl have continued to trade online in all international jurisdictions, with Kathmandu New Zealand selling only essential items online from 3 April.

Qantas (ASX:QAN) is extended flight cancellations for June and July but could restore some services at relatively short notice as restrictions lift.

National Storage REIT (ASX:NSR) is set to raise up to $330 million to strengthen its balance sheet, replenish investment capacity and provide additional funding flexibility.

Best and worst performers

The best performing sector was Energy adding 4.2 per cent while the worst performing sector was healthcare, shedding 0.4 per cent.

The best performing stock in the S&P/ASX 200 was Collins Foods (ASX:CKF), rising 11.6 per cent to close at $7.68. Shares in Polynovo (ASX:PNV) and EML payments (ASX:EML) followed higher.

The worst performing stock in the S&P/ASX 200 was Perenti Global (ASX:PRN), dropping 4.4 per cent to close at $0.88. Shares in Inghams Group (ASX:ING) and Unibail-Rodamco-Westfield (ASX:URW) followed lower.

Asian markets

Japan’s Nikkei and Shanghai Composite are closed meanwhileHong Kong’s Hang Seng has added 0.8 per cent

Commodities and the dollar

Gold is trading at US$1,703 an ounce.
Iron ore price is flat at US$84.04.
Iron ore futures are pointing to a rise of 2.5 per cent.
Light crude is US$1.57 up at US$24.35 a barrel.
One Australian dollar is buying 64.57 US cents.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

30Apr

Red dominates most sectors: Aus shares trading 0.6% lower

30 Apr 2021 - The ASX200 dipped at the open and retreated from yesterday’s post-pandemic high. Red was the dominant colour across most sectors, as miners, bankers, medical developers and energy players were the biggest drags on the market at lunchtime. Utilities & industrials were the only two sectors bucking the trend.

Read More
04Apr

OPEC’s oil cut gives the Energy sector a big boost

04 Apr 2023 - The Dow Jones Industrial Average added more than 300 points overnight, as Wall Street shows resilience despite an oil output cut from OPEC+ that threatens to stoke inflation and recession fears.

Read More
21Jan

Orocobre (ASX:ORE) shares on the decline despite new deals: ASX tracking 0.4% lower at noon

21 Jan 2020 - The ASX fell at the open and has failed to gather momentum throughout the morning so far is now tracking 0.4% lower at noon. Orocobre (ASX:ORE) shares are on the decline – this comes as they reported yesterday they have signed two new contracts for supply of battery grade lithium carbonate to top tier Chinese cathode manufacturers. Resolute Mining (ASX:RSG) has agreed to repay all amounts outstanding under the Toro Gold acquisition finance facility.

Read More
01Feb

First remuneration report strike for Freedom Foods (ASX:FNP): Aus shares down 2.9% over week

29 Jan 2021 - Aussie shares ended lower today, deepening yesterday’s sell off. Energy stocks were the hardest hit, dropping over 2 per cent as the iron price weakened. At the closing bell the S&P/ASX 200 index closed 42 points or 0.6 per cent lower to finish at 6,607. Over the week, the market has lost 2.9 per cent or 193 points. Freedom Foods Group (ASX:FNP) chalked up its first strike against the remuneration report at today’s AGM.

Read More
13Nov

US and Aus to partner on emission reduction technologies: Aus shares to open lower

13 Nov 2020 - The SPI indicates that the Australian share market will open lower after the global vaccine rally teetered off bringing into sharp focus the latest wave of Covid 19 cases in the US and UK. Scott Morrison has had his first call with US President elect Biden yesterday. He says that the 2 countries will work together to confront climate change by developing emissions reducing technologies.

Read More
17May

Biden and McCarthy set to continue talks regarding the US debt ceiling

17 May 2023 - Stocks dipped Tuesday as Wall Street also turned its attention to a meeting between congressional leaders and President Joe Biden on the US debt ceiling.

Read More
13May

CBA (ASX:CBA) helped the market surge towards the close: ASX closed 0.4% higher

13 May 2020 - It has been a struggle of a day for the ASX after dropping at the open, it manage to gain closing 0.4% higher. Pilbara Minerals (ASX:PLS) shares did well today as did shares in Avita Medical (ASX:AVH). As for the sectors today, materials performed the best. 360 Capital Group (ASX:TGP) has launched 360 Capital Credit Income Fund.

Read More
31Jan

S&P 500 ends near flatline: Alphabet and Microsoft report earnings after the bell

31 Jan 2024 - The S&P 500 ended Tuesday near the flatline as Wall Street waits for the latest Federal Reserve decision on interest rates.

Read More
08Oct

Wall St closes lower, Europe higher on Brexit hopes: Aus share to open higher

08 Oct 2019 - The local sharemarket is poised to open higher, despite stocks closing lower on Wall Street on Monday. New Zealand retirement village operator, Summerset (ASX:SNZ) has announced 165 sales for the quarter ending 30 September 2019, 77 of these were new sales while 88 were resales.

Read More
06Apr

ANZ jobs ads at a 12-year high: ASX tracking almost 1% higher at noon

06 Apr 2021 - The ASX rose at the open and is now tracking almost 1% higher at noon. The S&P/ASX 200 index is 65 points up at 6,894. On the futures market the SPI is 80 points higher. Fleetwood (ASX:FWD) has appointed a new Chief Executive Officer - experienced building and construction materials executive Bruce Nicholson.

Read More