• Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions
Tuesday, March 2, 2021
No Result
View All Result
ABC Money
PR Fire Press Release Distribution
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
ABC Money
No Result
View All Result
Home News

Australian shares close higher on US gains, M&A; activity – UPDATE

by Sam Allcock
26/06/2017

SYDNEY (XFN-ASIA) – Share prices ended higher with investor sentiment buoyed by Wall Street’s gains on Friday after better-than-expected US existing home sales in February, dealers said.

Local stocks were also boosted by M&A; activity including leading retailer Coles which detailed plans for a possible 20 bln aud sale of the group when it reported a 3.5 pct rise in interim profit to 501.3 mln aud. Coles shares advanced 0.15 aud to a record close of 16.15 aud.

The S&P;/ASX 200 closed up 38.4 points or 0.65 pct at 5,990.7 after trading between 5,992.0 and 5,957.9.

The All Ordinaries index climbed 37.4 points to close at 5,970.5.

Dealers said global miner BHP Billiton advanced on announcing the completion of a 2.8 bln usd off-market buyback of 141.1 mln shares.

BHP Billiton shares jumped 0.84 or 2.88 pct to finish at 30.04 while Rio Tinto advanced 1.55 or 2.02 pct to 78.40.

Telecom Corp of New Zealand rose after selling its Yellow Pages Group directories business for 2.24 bln nzd to private equity firms CCMP Capital Asia and Teachers’ Private Capital of Canada.

Telecom Corp of NZ shares ended up 0.10 or 2.43 pct at 4.22.

RelatedPosts

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths

Santander Loses 8771 Million In 2020 After Accounting Adjustment

Ford Lost $ 1.276 Million In 2020 To Covid-19

Pandemic Has Caused A Creativity Crisis In Companies

Load More

The world’s largest supplier of pallets, Brambles, gained on speculation it is looking at purchasing US-based pallet business IFCO for 1 bln usd. Brambles shares were up 0.08 to finish at 13.63.

However, on-line broking firm E*Trade Australia dropped after rejecting ANZ Bank’s 4.05 aud a share offer. E*Trade shares retreated 0.14 or 3.52 pct to close at 4.17.

A total of 1.61 bln shares worth 5.72 bln aud were traded, with rises outnumbering falls 684 to 549 and 337 stocks unchanged.

The S&P;/ASX200 June futures contract was up 49.0 points at 6,045.0.

The 10-year bond yield rose 0.010 to 5.845 pct while 90-day bills fell 0.01 to 6.535 pct.

AMP Capital Investors head of investment strategy Shane Oliver said there remains a risk of market volatility even though share prices on the local market have rebounded to less than 2 pct off record highs reached in February.

”While shares have retraced much of the falls experienced during the recent correction, there is still a risk of turbulence ahead in the short term,’ Oliver said.

‘Uncertainty over US and global growth may linger for a while yet, the crisis in the US mortgage market has further to run (and) investor sentiment has yet to reach bearish extremes that normally signal market bottoms.’

Oliver said while the very short term outlook may be a little uncertain, his firm still views the four year old bull market in shares as being alive and well.

Meanwhile, CommSec equities economist Martin Arnold said the Reserve Bank of Australia provided a positive outlook for the domestic and global economies in its semi-annual financial stability statement, but the central bank remains cautious about the future knowing that the good times cannot last forever.

‘While profitability and balance sheets are strong, competition has forced margins lower. And banks and insurance companies, in particular, need to adequately price the risk of an economic slowdown,’ Arnold said.

The economist noted the RBA gave no hints for likely interest rate policy ahead and CommSec expects the central bank to remain on the interest rate sidelines for the foreseeable future.

National Australia Bank gained 0.25 to close at 40.85, Commonwealth Bank rose 0.19 to 50.46, Westpac added 0.10 to 26.25 but ANZ eased 0.01 to 29.54.

St George fell 0.11 to 34.60, Bank of Queensland slipped 0.04 to 17.00 and Bendigo Bank dropped 0.18 to 17.12.

Macquarie Bank advanced 0.26 to 82.21 but Babcock & Brown lost 0.17 to 26.86.

QBE climbed 0.50 to 32.45, AMP was up 0.08 at 10.45, IAG added 0.03 to 5.98 and Suncorp gained 0.07 to 20.77.

Telstra added 0.01 to 4.49, its T3 receipts gained 0.02 to 3.04 while SingTel shed 0.03 to 2.60.

News Corp lost 0.27 to 30.48 and its non-voting stock dropped 0.29 to 28.61.

Alumina was up 0.07 at 7.32 while Zinifex climbed 0.17 to 16.22.

Newcrest rose 0.25 to 23.81, Lihir Gold added 0.01 to 3.26 and Oxiana also gained 0.01 to 2.81.

Woodside jumped 1.27 to 38.23, Oil Search was up 0.03 at 3.62 but Santos fell 0.09 to 9.93.

BlueScope climbed 0.11 to 10.06 while OneSteel rose 0.01 to 5.09.

James Hardie advanced 0.08 to 8.63 and Rinker gained 0.06 to 18.18.

Woolworths was up 0.06 at 27.21, David Jones rose 0.12 to 4.80 but Harvey Norman shed 0.06 to 4.72.

Westfield dropped 0.27 to 20.96, GPT eased 0.02 to 4.88 and Stockland fell 0.09 to 8.35.

Qantas added 0.03 to 5.09, Virgin Blue gained 0.01 to 2.67 and Toll Holdings climbed 0.32 to 20.47.

(1 usd = 1.24 aud)

paul.daniel@xfn.com

Tags: futuresmortgageshare_prices
Previous Post

Mo. animal research lab agrees to settle

Next Post

Stockholm shares slightly lower in early trade

Related Posts

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths
News

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths

25/02/2021
Santander Loses 8771 Million In 2020 After Accounting Adjustment
News

Santander Loses 8771 Million In 2020 After Accounting Adjustment

09/02/2021
Ford Lost $ 1.276 Million In 2020 To Covid-19
News

Ford Lost $ 1.276 Million In 2020 To Covid-19

09/02/2021
Next Post

Stockholm shares slightly lower in early trade

Former park heads oppose snowmobile plan

UK's Straw to run Brown party leadership bid

Latest News

How Watches Are The New Hottest

How Watches Are The New Hottest

02/03/2021
Top 3 Guide Ideas To Match Your Rolex Watch with Your Outfit

Top 3 Guide Ideas To Match Your Rolex Watch with Your Outfit

02/03/2021
How to save money on your heating bill and get help with energy debts

How to save money on your heating bill and get help with energy debts

02/03/2021
B2B Lead Generation: Strategies That Work

B2B Lead Generation: Strategies That Work

02/03/2021
Clever Ways To Embrace The Houseplant Trend Without Spending A Thing

Clever Ways To Embrace The Houseplant Trend Without Spending A Thing

01/03/2021
People Search Engines: How to use them?

People Search Engines: How to use them?

01/03/2021

Social

Contact

For editorial enquiries:

editorials@abcmoney.co.uk

For advertising enquiries:

advertise@abcmoney.co.uk

Top Topics

  • News
  • Business
  • Finance
  • Property
  • Technology
  • Investment

Guides

  • Best UK Bridging Loans
  • Best UK Secured Loans
  • Best UK Commercial Mortgages
  • Best UK Business Loans
  • Best UK Payday Loans
  • Best Sites for International Money Transfers
  • Best Press Release Distribution Service

Social

  • Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2020 ABC Money

No Result
View All Result
  • Write for us
  • Contact
  • About Us
    • Authors
  • News Desk
    • Business
    • Finance
    • Property
    • Technology
    • Investment

© 2020 ABC Money

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.