Trading resumes after technical hitch: ASX tracking 0.4% higher at noon

17Nov

Trading resumes after technical hitch: ASX tracking 0.4% higher at noon

 

After a rocky day yesterday, the Australian share market rose at the open and is now tracking 0.4 per cent higher at noon. Unibail-Rodamco-Westfield (ASX:URW) shares have jumped over 16 per per cent. Two IPO’s are currently performing well, Native Mineral Resources Holdings Limited (ASX:NMR) and Universal Store Holdings Limited – (ASX:UNI) after a false start yesterday.

The S&P/ASX 200 index

The S&P/ASX 200 index is 28 points upat 6,512. On the futures market the SPI is suggesting a rise of 17 points.

Broker moves

Macquarie rates AGL Energy (ASX:AGL) as Downgrade to an Underperform from a Neutral. The NSW energy roadmap released last week provides some opportunities for AGL Energy, but these are far outweighed by the structural impact, Macquarie notes. The policy will shift the markets to being in structural oversupply. Shares in AGL Energy (ASX:AGL) 0.1 per cent lower at $13.08.

Company news

Austal Limited (ASX:ASB) has announced that Aulong Shipbuilding, a joint venture between Austal and Jianglong Shipbuilding, in China, has delivered a 42 metre, high-speed catamaran passenger ferry to repeat customer, Blue Sea Jet of China. The Blue Sea Jet will operate “Xin Hai Chi”, with capacity for 272 passengers over two decks, in the waters of the Dawan District between Guangdong, Hong Kong, and Macau. Austal Limited (ASX:ASB) shares are currently 2.5 per cent higher at $2.86.

IPO

Native Mineral Resources Holdings Limited (ASX:NMR) started trading today after failing to launch yesterday because of a technical glitch on the ASX.The Mining and Exploration company shares issued at $0.20, started trading at $0.24 and is currently $0.20.

Universal Store Holdings Limited – (ASX:UNI) started trading today, their shares issued at $3.80, trading at $4.34 and are currently at $4.53.

Best and worst performers

The best-performing sector is Energy adding 3.5 per cent, while the worst performing sector is Infotech shedding 1.4 per cent.

The best performing stock in the S&P/ASX 200 is Unibil-Rodamco-Westfield (ASX:URW) rising 16.8 per cent to $4.67, followed by shares in Whitehaven Coal (ASX:WHC) and Perenti Global (ASX:PRN).

The worst performing stock in the S&P/ASX 200 Netwealth Group (ASX:NWL) dropping 6 per cent to $16.19, followed by shares in AusNet Services (ASX:AST) and Evolution Mining (ASX:EVN).

Commodities and the dollar

Gold is trading at US$1,890 an ounce.
Iron Ore Price has added 1.4 per cent at $124.07
Iron ore futures are pointing to a rise of 1.1 per cent.
One Australian dollar is buying 73.24US cents.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

16Sep

Wall St gains, Casino stocks crash on China crackdown, Pilbara is an outperform: ASX to rise

16 Sep 2021 - Major indexes around the globe closed mixed as oil price surges while iron ore falls. European markets were dragged lower by a fall in retail stocks. Asian markets retreat as casino stocks crash on China crackdown. Lithium players enjoyed Pilbara’s auction price. Macquarie retains their broker rating on Pilbara (ASX:PLS) despite this.

Read More
19Jan

Payroll jobs decreased 5.5% in the fortnight to 2 Jan: ASX closed 2% higher

19 Jan 2021 - Australia’s sharemarket pushed higher as the consumer discretionary sector gained 2%. The S&P/ASX 200 index finished 80 points up or 1.2 per cent higher at 6,743. Shares in Domino’s Pizza Enterprises (ASX:DMP).did well today as its reported a shift towards digital delivery will continue in 2021. Shares in Worley (ASX:WOR) dropped almost 3%.

Read More
19Apr

Wall St dips on rising bond yields, BHP, Syrah Resources, AMP, Dexus on watch: ASX to open higher

19 Apr 2022 - Wall St dips amid rising bond yields in a mixed performance today while Asian markets closed lower while ASX closed higher over the week as China's Covid-19 cases continue to climb after reporting its first death. Crude oil rose as outages in Libya triggered concerns on already tight supply.

Read More
31May

Stocks react as Congress looks to vote on debt ceiling Wednesday

31 May 2023 - The Dow Jones Industrial Average fell on Tuesday as Wall Street considered the likelihood of Congress passing a tentative deal on raising the US debt ceiling.

Read More
03Dec

Iron ore price surges to 7 year high: ASX closes 0.4% higher

03 Dec 2020 - The Australian share market rose at the open, saw a dip at lunchtime trade and closed 0.8% higher. The iron ore price pushed shares in Fortescue Metal (ASX:FMG) higher, while shares in Mesoblast (ASX:MSB) dipped.

Read More
18Aug

Wall St falls, BHP’s $20b merger with Woodside, Why Pexa is an outperform: ASX to drop

18 Aug 2021 - Global markets fell as retail sales data, regulatory scrutiny and mixed company earnings failed to impress investors. U.S. markets closed lower on disappointing retail sales for July. Asian shares dived on regulations for China’s online companies while European markets closed mixed on mild economic growth. Why Pexa (ASX:PXA) is an outperform. Big docket of company earnings today with 22 set to release figures.

Read More
28Aug

Wall St rises, People’s Bank of China boosts cash injection, Alumina is an Underperform: ASX to fall

26 Aug 2021 - Global stocks closed mixed ahead of the Fed Reserve virtual meeting at Jackson Hole. People’s Bank of China boosted short term cash to soothe worries on a bumpy recovery. Coverage of companies reported on the ASX yesterday. Why Macquarie rates Alumina (ASX:AWC) as underperform.

Read More
04Feb

AGL Energy (ASX:AGL) sinks on $2.7 billion write down: Aus shares down 0.7% at noon

04 Feb 2021 - The Australian share market opened slightly lower and continued to sink in early trade after Australia’s trade surplus for December came in weaker than expected. All of the sectors are down except Communications which is only managing to hold gains by the narrowest of margins. AGL Energy (ASX:AGL) issued a $2.7 billion write down for the period ended 31 December 2020.

Read More
11Jun

US markets hit new records ahead of Fed Policy meeting

11 Jun 2024 - Nvidia and the tech sector help the S&P 500 and Nasdaq close at new record highs as investors look to Wednesday’s Fed Policy meeting.

Read More
16Jun

Nasdaq gains as tech stocks jump, why Universal Biosensors is a buy: ASX to lift

15 Jun 2021 - In this report, we cover a wrap up of Wall St’s mixed performance ahead of the Federal Reserve meeting. A weekly overview of the ASX last week, why Universal Biosensors (ASX:UBI) is a buy with a chart analysis for Stockwatch. There are 8 companies slated to make their debut along with an overview of local and international economic news.

Read More