UK election boosts the Australian market: ASX closed 0.5% higher

13Dec

UK election boosts the Australian market: ASX closed 0.5% higher

 

It has been a positive day of trade for the Australian share market the local bourse managed to close 0.5 per cent higher. Stocks with significant UK businesses enjoyed gains such as Virgin Money UK (ASX:VUK) after exit polls in the UK election point to a Boris Johnson majority. Shares in Polynovo (ASX:PNV) are up after receiving a CE mark for Europe. As for the sectors today Infotech led the day and REITS fell lower.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 31points higher to finish at 6,740.

Ove the week we closed 0.5 per cent higher or 33 points higher.

Futures market

Dow futures are suggesting a rise of 1116 points.
S&P 500 futures are eyeing a rise of 13 points.
The Nasdaq futures are eyeing a lift of 47 points.
And the ASX200 futures are eyeing a 40 point rise for Monday morning.

Company news

Adairs (ASX:ADH) has today completed its acquisition of Mocka. Mocka is an online furniture store based in Christchurch, NZ and Brisbane, Australia. The business was formed in May 2007 with products including nursery furniture, and a large range of home furniture. On 4 December 2019 Adairs announced that it had entered into a binding agreement to acquire all of the shares of Mocka for a notional initial enterprise value of $75.5 million. Shares in Adairs (ASX:ADH) closed flat at $2.35.

Infrastructure investment company, Infratil (ASX:IFT), has reduced its full year underlying EBITDAF from continuing operations by $74 million as a result of the sale of Snowtown 2.
Infratil (ASX:IFT) owns a 65 per cent stake in Tilt Renewables which recently penned a deal to sell its Snowtown 2 wind farm for over $1.07 billion.

Medical device company PolyNovo (ASX:PNV) is thrilled NovoSorb BTM has been granted a certificate of conformance, that’s a CE Mark, approval for sale throughout UK/Ireland and the European Union.

An independent valuation of Dexus' (ASX:DXS) properties has seen the real estate investor report a $656 million uplift in the value of its portfolio seeing their shares fall slightly.

Best and worst performers 

The best performing sector was Infotech adding 1.5 per cent while the worst performing sector was Real Estate Investment Fund, shedding 2.2 per cent.

The best performing stock in the S&P/ASX 200 was Polynovo (ASX:PNV), rising 11.8 per cent to close at $1.94. Shares in Galaxy Resources (ASX:GXY) and Lynas Corp (ASX:LYC) followed higher.

The worst performing stock in the S&P/ASX 200 was Silver Lake Resources (ASX:SLR), dropping 9.2 per cent to close at $1.14. Shares in Evolution Mining (ASX:EVN) and Gold Road Resources (ASX:GOR) followed lower.

Asian markets

Higher: Japan’s Nikkei has added 2.5 per cent, Hong Kong’s Hang Seng has added 2 per cent and the Shanghai Composite has added 1.2 per cent.

US Indices over the week Dow Jones has gained 0.4 per cent, S&P has gained 0.7 per cent and NASDAQ has also gained 0.7 per cent

Commodities and the dollar

Gold is trading at US$1,468 an ounce.
Iron ore price is 0.7 per cent lower at US$94.02
Iron ore futures are pointing to a rise of 0.2 per cent.
Light crude is US$0.05 up at US$59.11 a barrel.
One Australian dollar is buying 69.22 US cents.
 
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

31Jul

Mining stocks weigh on market: Aus market closes 1.6% lower over week

31 Jul 2020 - The Australian share market opened on shaky ground today following sour economic news in the US. The US Commerce Department announced overnight that US GDP dropped by a record 32.9 per cent (on an annualised basis) in the second quarter, the worst decline on record. The negative sentiment was contagious, with Aussie investors reversing positions today. We saw a broad-based pull back across all of the sectors, with mining losing nearly 3.1 per cent. Credit...

Read More
06Apr

ASX soars: Aus shares close 4.73% higher

06 Apr 2020 - The Australian share market had a positive day of trade to finish 4.3 per cent up. Paradigm Biopharmaceuticals (ASX:PAR) to raise $35 million.

Read More
28Jan

Coronavirus fears rattle investors: Aus shares 1.3% lower at noon

29 Jan 2020 - The local sharemarket has tumbled this morning following global bourse lower as the economic and financial impacts of the coronavirus are beginning to bite. Karoon Energy (ASX:KAR) has commenced drilling of 256m-barrel prospect.

Read More
31May

Wall St gains, US jobs data looms ahead, Ords say hold CBA, why Utilities fallen 25% in 12 mths: ASX to edge higher

31 May 2021 - Covered in this report is Wall St's performance on Friday, a weekly wrap for the ASX 200, what's ahead in both local and international economic news, broker recommendations for CBA (ASX:CBA), Costa Group (ASX:CGC) and Fisher & Paykel (ASX:FPH) plus 3 companies to make their debut this week.

Read More
20Jul

Wall St sinks on bond rally as investors flee stocks, Why Westpac is bearish: ASX to fall

20 Jul 2021 - A market meltdown across the globe was seen as resurging fears of the delta variant accelerates. Rising cases are causing international stocks to skid as it threatens the pace of the economic recovery. Oil prices tumbled after OPEC+ agreed to boost supply to pre-pandemic levels. Why Westpac (ASX:WBC) is bearish for StockWatch. ANZ and IAG release news.

Read More
13Oct

US stocks fall following new CPI data

13 Oct 2023 - Stocks fell Thursday, pressured by rising Treasury yields, as traders fretted over new data showing persistent US inflation.

Read More
29Apr

AUD rises to almost pre-coronavirus levels: ASX closes 1.5% higher

29 Apr 2020 - It has been a positive day of trade for the ASX the local bourse managed to close 1.5% higher. Shares in supermarket Coles (ASX:COL) are down despite growing supermarket sales in the March quarter. The Australian dollar saw a rally today. Dicker Data (ASX:DDR) released their first quarter 2020 results today showing net profit climbed 36.3% to $18.4 million.

Read More
15Feb

Energy stocks leads Wall St’s drop, BHP pays record dividend: ASX to fall

15 Feb 2022 - Choppy trade defined Wall St's performance to close lower as investors weigh macro risks & rate hikes. Energy stocks were the worst performer, find out why. ASX gains as corporate earnings unveils. RBA meeting minutes are due.

Read More
15Jan

Weak US jobs data counteracts stimulus hopes: Aus shares set to open lower

15 Jan 2021 - Australian shares are poised to edge lower at the open following negative leads from Wall Street. The Dow and the Nasdaq hit record highs during the sessions on optimism that President-elect Biden may propose a Covid stimulus package of up to $US2 trillion. US markets lost steam at the end of the session though and closed lower after weak labour data rolled in. Meanwhile, European shares advanced for a third straight session.

Read More
06Mar

Tech, Health care and Materials down over 2%: Aus market sheds 1.3% at noon

05 Mar 2021 - Despite a slight bump at the open, the ASX has trended lower during the first 2 hours of trade and is down 1.3 per cent at noon. The Tech, Health care and Materials sectors are all down over 2 per cent this morning. Lithium-boron producer Ioneer (ASX:INR) has completed its fully underwritten institutional placement raising $80 million.

Read More