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

30Nov

AUD advances against the USD: ASX poised to open higher

30 Nov 2020 - The ASX looks set to open higher this morning as shares on Wall Street ended their week up. The Aussie dollar advanced and now sits just under 0.74 US dollars. Dr. Anthony Fauci, the top infectious disease expert in the US, said yesterday that the States is heading into a difficult period of the coronavirus pandemic. He said current restrictions will be necessary for the Christmas holiday season. Synlait Milk (ASX:SM1) is pleased to announce...

Read More
05May

Tech shares tumble as Yellen raises tremors on a rate hike: ASX to fall

05 May 2021 - The ASX is to drop at the open following a mixed lead from Wall St. Nearmap (ASX:NEA) has increased its full-year guidance by 20-26 per cent for its annual contract value. Morgan Stanley upgrades Spark infrastructure (ASX:SKI) as an add.

Read More
31Aug

Behind the numbers it’s all about energy pricing

31 Aug 2022 - US stocks fell for a third straight day overnight, jeopardising a summer comeback rally, as the Federal Reserve and other global central bankers continued to signal they will raise interest rates to squash inflation despite the negative consequences for economic growth and, potentially, corporate profits.

Read More
19Mar

Retail turnover falls 1.1% MoM in Feb: Aus shares 0.2% lower at noon

19 Mar 2021 - The Australian share market opened lower and has continued on this trajectory into the mid-session. Energy stocks are dragging on the market despite signs of recovery in the iron ore price. This follows a rocky session on Wall Street overnight which saw the tech heavy Nasdaq lose 3.02 per cent. Morgan Stanley says shares in Westpac (ASX:WBC) are overweight, setting a target price of $25.30.

Read More
11Sep

BHP to cut carbon emissions by 30% by FY2030: Aus shares to open lower

11 Sep 2020 - The pre-election political gridlock in the United States continues, as a new Republican stimulus package worth $US300 billion fails to advance through the Senate. Wall Street unwound early gains and ended in the red on broad-brushed profit taking. Mining giant BHP (ASX:BHP) has announced a target to reduce operational greenhouse gas emissions by at least 30 per cent by FY2030.

Read More
15Apr

IMF predicts a deep recession: ASX poised to open higher

15 Apr 2020 - The ASX looks set to open higher this morning. On Wall Street shares rose on hopes the US is moving closer to at least a partial reopening of its economy during the coronavirus pandemic. The Dow was up 2.5% near the closing bell. The International Monetary Fund is warning Australia's economy could shrink by 6.7 per cent this year. Stockland (ASX:SGP) has put in place additional unsecured bank debt facilities totalling $350 million.

Read More
19Sep

FedEx sees global recession as commentary hits US markets

19 Sep 2022 - Stocks fell Friday as Wall Street wrapped up one of its worst weeks in months and traders reacted to an ugly earnings warning from FedEx about the global economy. The fall in FedEx shares was felt across the market as the company’s CEO announced he expects that the global economy is heading for a recession.

Read More
17Mar

Wall St extends rally for 2nd day, Fed forecast deep-dive: ASX to rise

17 Mar 2022 - Wall St gains for 2nd day after Fed hiked rates for the first time in 3-years, buoyed by progress of peace talks between Russia and Ukraine. Ukrainian President Zelenskyy said Russia was “more realistic", but on the ground, Russian military attacks deepen. Asian markets rebounded helped by Hong Kong tech titans with the fever spilling over to European shares. China's authorities pledged to stimulate the economy and support the market. Breakdown of Fed forecast and...

Read More
03Apr

Stocks rally into strong quarter end

03 Apr 2023 - Stocks climbed higher on Friday to end the quarter with a bang after the market got a boost after the Fed’s preferred inflation gauge showed a cooler-than-expected increase in prices.

Read More
25Aug

Seven West Media (ASX:SWM) ‘severely impacted by COVID-19’ : Aus shares 0.7% higher at noon

25 Aug 2020 - The Australian share market opened higher this morning and is now trading 0.7 per cent up at noon. Seven West Media (ASX:SWM) said advertising market conditions were severely impacted by COVID-19. Emeco (ASX:EHL) has confirmed the completion of its $111 million capital raise.

Read More