Resolute Mining (ASX:RSG) keeps close eye on Mali coup: ASX closes 0.7% higher
It has been a positive day of trade for the Australian share market with the local bourse managing to close 0.7 per cent higher. Winners and losers of the day were WiseTech Global (ASX:ASX:WTC) and G8 Education (ASX:GEM). Resolute Mining (ASX:RSG) didn’t do so well due to the situation in Mali.
The S&P/ASX200 index
At the closing bell the S&P/ASX 200 index closed 44 points higher to finish at 6,168.
Futures market
Dow futures are suggesting a rise of 18 points.
S&P 500 futures are eyeing a rise of 3 points.
The Nasdaq futures are eyeing a dip of 0.25 points.
And the ASX200 futures are eyeing a 51 point rise tomorrow morning.
Local economic news
The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index appears to have bottomed out, rising from -4.43 per cent to -4.37 per cent in July.
Company news
The Woolworths Group (ASX:WOW) has extended its partnership with PDF Food Services. They plan to invest $302 million into the business to acquire a 65 per cent equity interest. They are also acquiring 100 per cent of its freehold properties. They will acquire 100 per cent of 26 distribution centres. Shares in the Woolworths Group (ASX:WOW) closed 1 per cent higher at $40.58.
Resolute Mining (ASX:RSG) took a dip today, feeling the effects of a military coup in Mali. President Ibrahim Boubacar Keita has resigned and alleged being detained by soldiers angry over pay. Operations at the Company’s Syama Gold Mine, located in the south of Mali on the border with Côte d'Ivoire, are continuing as normal with no impact to production or the safety and security of employees and contractors. Resolute has operated Syama since 2003 under the well-established mining laws of Mali. Shares in Resolute Mining (ASX:RSG) closed 17.5 per cent lower at $1.11.
WiseTech Global (ASX:WTC) today announced its financial results for the 12 months ending 30 June 2020 reporting Statutory Net Profit after Tax (NPAT) of $160.8 million, soaring up 197 per cent on the prior corresponding period (pcp) (FY19: $54.1 million).
Crown Resorts (ASX:CWN) reported a financial year NPAT attributable to the parent of $79.5 million, down 80.2 per cent. Main floor gaming revenue of $1.23 billion, is down 26.9 per cent for the year.
Best and worst performers of the day
The best-performing sector is healthcare closed 4 per cent higher, while the worst performing sector is REITS losing at 1.4 per cent.
The best performing stock in the S&P/ASX 200 is Wisetech Global (ASX:WTC) rising 33.9 per cent to $27.87, followed by shares in G8 Education (ASX:GEM) and Corporate Travel Management (ASX:VOC).
The worst performing stock in the S&P/ASX 200 is Resolute Mining (ASX:RSG) dropping 17.5 per cent to $1.11, followed by shares in Nearmap (ASX:NEA) and Treasuary Wine Estates (ASX:TWE).
Asian markets
Mixed: Japan’s Nikkei has added 0.3 per cent, Hong Kong’s Hang Seng has lost 0.9 per cent and the Shanghai Composite has lost 0.7 per cent.
Commodities and the dollar
Gold is trading at US$1,989 an ounce.
Iron ore price is 5.4 per cent higher at US$128.57.
Iron ore futures are pointing to a rise of 1.2 per cent.
Light crude is US$0.30 lower at US$42.59 a barrel.
One Australian dollar is buying 72.52US cents.
You can find details on our website about this month’s Investor Event on Tuesday, 25 August 2020.
Copyright 2020 – Finance News Network
Source: Finance News Network
