Ventilator demand from Covid sees Resmed (ASX:RMD) rise: ASX closes 0.7% higher

06Aug

Ventilator demand from Covid sees Resmed (ASX:RMD) rise: ASX closes 0.7% higher

 

It has been a positive day of trade for the Australian share market, the local bourse managed to close 0.7 per cent higher. Shares in Resmed (ASX:RMD) took a dip despite reporting a 54 per cent increase in full year net income after fourth quarter earnings were boosted by pandemic demand for its ventilators. The Scentre Group (ASX:SCG) shares were also down today. As for the sectors today materials closed the day higher and real estate investment trust fell lower.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 41 points higher to finish at 6,042..

Futures market

Dow futures are suggesting a rise of 88 points.
S&P 500 futures are eyeing a rise of 4 points.
The Nasdaq futures are eyeing a lift of 3 points.
And the ASX200 futures are eyeing a 41 point rise tomorrow morning.

Company news

Village Roadshow (ASX:VRL) is looking to raise a minimum of $35 million through new shareholder equity or equity like instruments. All Queensland based operations are currently open, operating at a reduced capacity to comply with Covid safety protocols. This includes restricting entry numbers to 50 per cent of capacity for each major theme park.Cinemas in metropolitan Melbourne and some areas of Victoria are closed. Meanwhile, cinemas across the rest of Australia are operating under social distancing rules in each State or Territory. Shares in Village Roadshow (ASX:VRL) closed 1.4 per cent lower at $2.10.

The Scentre Group (ASX:SCG) expects at its August 25th earnings announcement to report net operating cashflow after interest, overheads and tax "in excess" of $250 million for the year to June.

As a result of the Victorian government decision to move to Stage 4 restrictions in metropolitan Melbourne for a period of 6 weeks in response to the Covid-19 situation, 30 Lovisa (ASX:LOV) stores across Melbourne will temporarily close. 19 of their stores in California have been closed since 14th July, and 2 stores in New York are still closed.

The unified call recording service and voice intelligence cloud Dubber Corporation (ASX:DUB) has moved from early adopter program to general availability for eligible Telstra customers who sign up to Dubber’s services.

We have an IPO today, Dynamic Drill and Blast Holdings (ASX:DDB) came supplier of drilling and blasting services to clients in the mining and construction sectors in Western Australia. Issued at 20 cents, opened at 50 cents and closed at 45 cents.

Best and worst performers of the day

The best performing sector was materials adding 2.5 per cent while the worst performing sector was real estate investment trust, shedding 0.6 per cent.

The best performing stock in the S&P/ASX 200 was Ooh!Media (ASX:OML), rising 8.3 per cent to close at $0.78. Shares in Monadelphous Group (ASX:MND) and Harvey Norman (ASX:HVN) followed higher.

The worst performing stock in the S&P/ASX 200 was Resmed (ASX:RMD), dropping 7.4 per cent to close $25.88. Shares in Vicinity Centres (ASX:VCX) and Nearmap (ASX:NEA) followed lower.

Asian markets

Lower: Japan’s Nikkei has lost 0.4 per cent, Hong Kong’s Hang Seng has lost 1.4 per cent and the Shanghai Composite has lost 0.4 per cent.

Commodities and the dollar

Gold is trading at US$2,049 an ounce.
Iron ore price is 0.2 higher at US$118.10.
Iron ore futures are pointing to a rise of 2.9 per cent.
Light crude is US$0.24 higher at US$42.43 a barrel.
One Australian dollar is buying 72.07US cents.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

04Oct

Stocks rise as bond yields fall: All eyes on RBA rate decision today

04 Oct 2022 - Stocks rallied Monday for the start to the new month and quarter, as Treasury yields eased from levels not seen in roughly a decade.The Dow Jones Industrial Average ended the day 2.7% higher, the S&P 500 rose 2.6% after falling Friday to its lowest level since November 2020 and the Nasdaq advanced 2.3%.

Read More
22Aug

Markets weaker as UK energy prices cause chaos

22 Aug 2022 - US equities closed lower in very quiet Friday trading, ending just off the worst levels. UK retail sales unexpectedly improved in July, though UK consumer confidence fell to lowest level since records started in 1974. UK natural gas prices rose nearly 96 per cent in the year to July, while electricity prices are up 54 per cent.

Read More
09Dec

Robust US jobs data boosts Wall St: ASX poised to open higher

09 Dec 2019 - Following positive leads from US markets, the ASX looks set to start the week by opening higher. Robust US jobs data saw November gains surpass expectations despite global trade and economic uncertainty, boosting Wall Street last week. Lifestyle Communities (ASX:LIC) has appointed PricewaterhouseCoopers as the Company’s Auditor.

Read More
23Sep

Wall St gains, Fed says taper is “soon”, Iron ore jumps 17%, Westpac is a hold: ASX to rise

23 Sep 2021 - Major indexes around the globe bounced back as Evergrande concerns abated for now. Join me as I go through U.S. Federal Reserve Chair Powell speech after he flagged that tapering will happen "soon". The ASX rose for a 2nd day while the price of Australian carbon credit units hit a record high. Macquarie rates Westpac Group (ASX:WBC) as a hold after their ESG meeting.

Read More
24Jun

Nasdaq gains, Iron ore jumps 6%, Diverger, Centrepoint Alliance, Qantas on watch: ASX to open flat

24 Jun 2022 - Wall St jumps, gold slips, copper tumbles to a 16-month low while nymex crude is now off 14.6% from its recent peak on June 8. What to look out for on the ASX today.

Read More
30Aug

Information Technology sector bolsters market: ASX tracking 1.2% higher at noon

30 Aug 2019 - The ASX opened higher and continued to rise throughout the morning now tracking at 1.2% higher at noon. The market has been bolstered by the Information Technology sector. Lithium miner Galaxy Resources (ASX:GXY) shares have slipped after reporting a huge half-year loss. Recce Pharmaceuticals (ASX:RCE) receive a successful grant application for a Research Hub in Sydney.

Read More
16Sep

US equities lower, but is the market cheap or expensive?

16 Sep 2022 - Valuations now are right back where they were in late 2019 however the environment was vastly different then. CPI inflation was about 2 per cent; now it’s about 8 per cent. Ten-year rates were 2 per cent, not today’s 3.5 per cent. All these contrasts should argue for a lower market multiple today than in 2019 - inflation, with its accompanying volatility and uncertainty, should compress multiples.

Read More
19Sep

Jobless rate rises on last month: ASX tracking 0.8% higher at noon

19 Sep 2019 - The ASX rose at the open and managed to maintain momentum - it's now tracking 0.8% higher at noon. The Australian dollar dipped on the news the jobless rate has increased on last month. Shares in Brickworks (ASX:BKW) are on the rise after they reported a record underlying NPAT from continuing operations of $234 million, up 4% on the prior year. The Board of Credit Corp Group (ASX:CCP) has appointed two new Non-Executive Directors, Trudy...

Read More
22Nov

Wall St mixed, Oil drops on covid jitters, Citi Chic’s price target gets a boost: ASX to fall

22 Nov 2021 - Mixed market around the globe as Covid-19 jitters emerge. European markets fell while Alibaba dragged the Hang Seng while Japanese shares rallied on fresh stimulus. ASX closed higher on Friday though lower for the week. Macquarie boosted City Chic’s (ASX:CCX) target price.

Read More
01Jun

Aussie shares reverse early dip, big 4 push higher, iron surges boosting miners: Aus shares 0.7% higher at noon

01 Jun 2020 - The Australian sharemarket has reversed an early dip the beginning of the trading week as the big four bank stocks push higher, while property stocks are taking a hit on the back of falls in property prices. The S&P/ASX200 Index is up 40 points, or 0.7 per cent, to 5796 points. Futures are pointing to a rise of 42 points.

Read More