The only sector to make losses today was the Financial sector: ASX closed 1.5% higher

27Apr

The only sector to make losses today was the Financial sector: ASX closed 1.5% higher

 

After a rocky start it has been a mostly positive day of trade for the Australian share market, the local bourse managed to close 1.5 per cent higher. Shares in Domain Holdings (ASX:DHG) closed over 18 per cent higher and AP Eagers (ASX:APE) also did well today. Financials sector took a hit today, the only sector that made losses today. Banks weighed heavily as the NAB (ASX:NAB) released their interim results. As for the sectors today Infotech led the day and Utilities fell lower.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 79 points higher to finish at 5, 321.

Futures market

Dow futures are suggesting a rise of 212 points.
S&P 500 futures are eyeing a rise of 18 points.
The Nasdaq futures are eyeing a lift of 89 points.
And the ASX200 futures are eyeing a 88 point rise tomorrow morning.

Local economic news

The latest CommSec economic rankings reveal how the state and territory economies were positioned heading into the coronavirus pandemic. Victoria remains Australia’s strongest performing economy, but it now shares top spot with Tasmania with strength in the building and purchase of homes. NSW remains consistently strong across all indicators but lost one position on dwelling starts in the quarter. The ACT is in fourth spot, supported by a strong job market and solid demand for homes. Queensland remains in fifth spot from South Australia and both are having to contend with relatively high jobless rates. Western Australia remains in seventh position, ahead of Northern Territory.

Company news

MedAdvisor (ASX:MDR) today announced that its telehealth and on-demand home delivery features are now live. Commenting on the news, MedAdvisor CEO Robert Read said: “The events of COVID-19 have delivered unprecedented challenges globally. In response, Medadvisor has fast-tracked its development roadmap to launch home delivery and telehealth services to assist patients, pharmacies and doctors through these challenging times. 9000+ items already delivered by pharmacy to home, with Kings on-demand medication home delivery now live across Sydney, Melbourne and Brisbane. Shares in MedAdvisor (ASX:MDR) are closed 6 per cent higher at $0.44.

National Australia Bank (ASX:NAB) is looking to raise $3.5 billion from investors as their half year profit drops 51 per cent. The bank released their results two weeks ahead of schedule.

Viva Energy (ASX:VEA) has started preparations to shut down the Geelong Refinery’s Residual Catalytic Cracking Unit (RCCU) and associated processing units. They will be closed together with the smaller of the Crude Distillation Units, with effect from early May 2020.

Best and worst performers of the day

The best performing sector was Infotech adding 3.6 per cent while the worst performing sector was Financials, shedding 0.2 per cent.

The best performing stock in the S&P/ASX 200 was Domain (ASX:DHG), rising 18.6 per cent to close at $2.55. Shares in AP Eagers (ASX:APE) and NRW Holdings (ASX:NWH) followed higher.

The worst performing stock in the S&P/ASX 200 was Westpac (ASX:WBC), dropping 4.4 per cent to close at $14.66. Shares in Southern Cross Media Group (ASX:SXL) and New Hope Corporation (ASX:NHC) followed lower.

Asian markets

Japan’s Nikkei has added 2.7 per cent, Hong Kong’s Hang Seng has added 1.8 per cent and the Shanghai Composite is up 0.3 per cent.

Commodities and the dollar

Gold is trading at US$1,721 an ounce.
Iron ore price has lost 0.1 per cent at US$84.35.
Iron ore futures are pointing to a fall of 0.5 per cent.
Light crude is US$1.41 down at US$19.81 a barrel.
One Australian dollar is buying 64.59 US cents.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

16May

Wall St gets lucky on Fri 13, Perpetual, Goodman Group, Brambles, Macquarie on watch: ASX to rise

16 May 2022 - Oversold conditions attracted dip buyers and investors searching for beaten down stocks after 5 brutal days, following the Fed's decision the prior week. Deep dive of the YTD performance of the ASX and why amid a rising treasury yield environment. What to keep an eye out for the week.

Read More
18Dec

French president contracts coronavirus: Aus shares to open flat

18 Dec 2020 - Aussie shares are set for a flat start despite US stocks edging to record highs overnight. US jobless claims came in higher than expected, however investors took this in their stride. The market seems to assume that the unexpectedly high jobless claims may force the 2 major political parties into finally agreeing on a Covid stimulus deal which would bolster the market.

Read More
24Mar

Westpac (ASX:WBC) consider potential sales: ASX closes 0.5% higher

24 Mar 2021 - It has been a mostly positive day of trade for the Australian share market. At the closing bell the S&P/ASX 200 index closed 33 points higher, or 0.5 per cent higher to finish at 6,779. Westpac (ASX:WBC) has already placed a number of businesses into a Specialist Businesses Division, for ultimate exit.

Read More
19Sep

Wall St mixed, Iron ore falls on Evergrande rout, C.Suisse’s take on Santos & Oil Search: ASX to dip

17 Sep 2021 - A mixed market across the globe as U.S. stocks react to strong retail sales and a bump in jobless claims. European indices rallied as travel and leisure stocks take-off. Asian markets struggled on mounting concerns on the property sector. A buoyant session on the ASX as blue-chip players lead. What Credit Suisse said around Santos (ASX:STO) and Oil Search (ASX:OSH).

Read More
21Nov

BlueScope (ASX:BSL) reports first half guidance: Aus shares lower at noon

21 Nov 2019 - The Australian share market dropped at the open and was trading 65 points down at noon. All sectors are currently in the red. Southern Cross Media (ASX:SXL) is currently the best performing stock.

Read More
16Dec

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

16 Dec 2019 - It has been a huge day of trade for the ASX seeing its biggest one day gain since February. After rising at the open it continued to climb closing 1.6% higher. Nearmap (ASX:NEA) is now the biggest gainer. PolyNovo (ASX:PNV) has supplied NovoSorb BTM for dermal repair after the volcano eruption New Zealand.

Read More
21Feb

AUD falls against the US dollar as coronavirus fears resurface: ASX set to open lower

21 Feb 2020 - Following weak leads from US markets, the ASX looks set to open lower this morning. The AUD has fallen to 66.14 cents against the US dollar - the fall comes after the prospect of lower interest rates and the downturn in China because of the coronavirus. Mayne Pharma (ASX:MYX) report net loss after tax of $17.5 million driven by lower earnings and restructuring expenses in their half-yearly results.

Read More
21Feb

Shares in Cochlear (ASX:COH) lift on H1 results: ASX tracking 0.8% lower at noon

19 Feb 2021 - The ASX dropped at the open and is tracking 0.8% lower or 57 points lower at noon at 6,829. On the futures market, the SPI is suggesting a fall of 54 points. Shares in Cochlear (ASX:COH) did well today as they report strong growth in the US, Japan, Korea and China. Shares in Treasury Wine Estates (ASX:TWE) fell today despite performing well on the market yesterday. Woodside (ASX:WPL) signs LNG supply deal with Germany’s RWE.

Read More
02Apr

Job vacancies down in the year to Feb, before COVID-19: ASX tracking 2.9% lower at noon

02 Apr 2020 - The ASX dropped at the open and is now tracking 2.9% lower at noon. Webjet (ASX:WEB) shares are on the rise – they successfully completed their $115 million institutional placement today. Shares in IDP Education (ASX:IEL) also rose. Shares in Harvey Norman Holdings (ASX:HVN) declined. All the sectors are in the red with Financials losing 5.2 per cent. Atlas Arteria (ASX:ALX) is pleased to announce that APRR has successfully priced €500 million of bonds under...

Read More
02Nov

Amidst the gloom, oil stocks are reporting record profits

02 Nov 2022 - US equities finished mostly lower in Tuesday trading, as traders assessed better-than-expected economic data and prepared for another likely rate hike from the Federal Reserve. Profits at two of the world’s largest oil producers soared as BP and Saudi Aramco reaped a windfall from historically high energy prices that have fuelled inflation and stoked a global cost of living crisis.

Read More