US-China trade deal ‘totally done’, according to Trump aide: ASX tracking 1.2% higher at noon

  • Home
  • Latest Market News
  • US-China trade deal ‘totally done’, according to Trump aide: ASX tracking 1.2% higher at noon
16Dec

US-China trade deal ‘totally done’, according to Trump aide: ASX tracking 1.2% higher at noon

 

The Australian share market has risen at the open following some small positive leads from Wall Street. It is now tracking 1.2 per cent higher at noon. On Friday US and Chinese officials announced they had finally agreed to the phase one agreement after an 18-month trade war. China agreed to billions of dollars in agricultural purchases from the US, while President Donald Trump promised not to pursue a new round of tariffs set for Sunday. The two major economies plan to sign the partial accord in the first week of January.

The S&P/ASX 200 index is 83 points up at 6,823. On the futures market the SPI is 80 points higher

Broker moves

Citi has upgraded Sigma Healthcare (ASX:SIG) to a Neutral from a Sell, with a 12-month price target of $0.65, current price is $0.66. They upgrade comes on the back of the decline in the share price and as the company adjusts its financial year 2020 guidance to reflect the Chemist Warehouse contract. Shares in Sigma Healthcare (ASX:SIG) closed 8.7 per cent lower at $0.60.

Company news

Starpharma (ASX:SPL) has received a $4.9 million R&D tax incentive refund for the 2019 Financial Year. The refund is in respect of eligible R&D activities across Starpharma’s portfolio, including DEP® and VivaGel®. The Company reports its cash balance for the quarter ended 30 September 2019 at $6.8 million, which did not include this receipt. VivaGel®: Starpharma’s women’s health product – VivaGel® BV is based on SPL7013, astodrimer sodium, a proprietary dendrimer. VivaGel® BV for bacterial vaginosis (BV), is available for sale here and the UK and Europe. A new drug application has been submitted to the US FDA. Shares in Starpharma (ASX:SPL) trading 1.6 per cent higher at $1.29.

IPO

OpenPay (ASX:OPY) started trading today. They are a provider of payments technology that offers a Buy Now, Pay Later product. Their issue price was $1.60, they started trading at $1.65 and are currently trading at $1.41.

Best and worst performers

The best-performing sector is Healthcare, adding 1.9 per cent, while the worst performing sector is Consumer Staples is also in the green rising 0.5 per cent.

The best performing stock in the S&P/ASX 200 is Virgin Money UK (ASX:VUK) rising 7.7 per cent to $4.06, followed by shares in HUB 24 (ASX:HUB) and Nearmap (ASX:NEA).

The worst performing stock in the S&P/ASX 200 is Perenti (ASX:PRN), dropping 17.6 per cent to $1.72, followed by shares in Smart Group Corp (ASX:SIQ) and Bravura Solutions ASX:BVS).

Commodities and the dollar

Gold is trading at US$1,475 an ounce.
Iron ore price rose 0.6 per cent to US$94.63
Iron ore futures are pointing to a rise of 2.2 per cent.
One Australian dollar is buying 68.79 US cents.
 
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

29Apr

S&P 500 closes flat, OPEC+ opts out of meeting: ASX to rise

28 Apr 21 - The ASX is to rise following another mixed session from Wall St. Raiz Invest (ASX:RZI) reports their funds under management grew by 14.6% to $694.3 million for the Q3 FY21. US Google parent company Alphabet report a 34% rise in revenue.

Read More
05Mar

EcoGrafs (ASX:EGR) WA facility on fast track: Aus shares close 0.7% higher

05 Mar 2021 - The ASX slumped in early trade and a late session recovery wasn’t enough to unwind this morning’s losses. The Aussie market closed out the day 0.7 per cent lower. At the closing bell the S&P/ASX 200 index closed 50 points lower, or 0.7 per cent lower to finish at 6,711. Over the week the S&P/ASX 200 index gained 0.6 per cent or 38 points. The Australian Government has approved major project status for graphite company...

Read More
12Oct

US stocks close higher as PPI comes in higher than expected

12 Oct 2023 - Stocks ticked higher Wednesday as traders awaited the release of new US consumer inflation numbers and Treasury yields continued to retreat.

Read More
05Sep

Could fresh China talks lead to a breakthrough?: ASX set to open higher

06 Sep 2019 - Following positive leads from US markets, the Australian share market looks set to open higher this morning. Wall Street stocks surged under the announcement that China and the US will resume trade talks next month. Rare earths producer, Northern Minerals (ASX:NTU) has raised to date under the company's $30 million Placement approximately $22.6 million

Read More
23Mar

Fed increases interest rates by 25 basis points

23 Mar 2023 - Stocks tumbled on Wednesday as the Federal Reserve continued hiking rates, while at the same time acknowledging turmoil in the banking sector could slow the already fragile economy. Regional bank shares led the slide.

Read More
23Mar

Energy sector leads the losses: ASX closes the day 0/1% lower

23 Mar 2021 - At the closing bell the S&P/ASX 200 index closed 7 points lower, or 0.1 per cent lower to finish at 6,745. Airtasker (ASX:ART) started trading today. E-Health SaaS company Respiri (ASX:RSH) is pleased to report the US Food and Drug Administration has cleared wheezo for sale in the US.

Read More
22Jul

Softer $US drives tech stocks higher: ECB raises rates in Europe

22 Jul 2022 - US equities were higher in fairly choppy Thursday trading, finishing slightly off their best levels. The $US dollar declined following a surprise interest rate hike from the European Central Bank, which raised rates for the first time in 11 years. The central bank increased benchmark rates by 50 basis points.

Read More
15Oct

Wall St slips on US-China trade deal doubts: Aus shares to follow lower

15 Oct 2019 - The local sharemearket is set to open lower after Wall Street slipped on new concerns around a US-China trade agreement. Australia’s largest airline, Qantas (ASX:QAN) has announced that it is once again in a position to qualify for inclusion in the MSCI Global Investable Market Indexes based on its most recent foreign ownership reconciliation

Read More
22Apr

Wall St stages a comeback: ASX to open higher

22 Apr 2021 - The ASX is set to rise following Wall St closing in the black. After two straight days of declines, the comeback was led by investors buying into shares poised to benefit from the economic recovery. AMP (ASX:AMP) reports their Australian wealth management assets for Q1 21.

Read More
08Sep

Wall St mixed, Iron ore rebounds, Why Flight Centre takes-off: ASX to fall

08 Sep 2021 - Mixed market with major indexes around the globe. Why Goldman Sach cuts U.S.' GDP forecast, again. A deep dive into the moves from the RBA & how the Aussie dollar responded. Iron ore price sunk while coal price stays firm. Why Flight Centre (ASX:FLT) was the 2nd best performer on the ASX 200 & Credit Suisse’s take.

Read More