ASX ends in positive territory

May 17, 2021 - 1 month ago
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The Australian share market has started the week in a mildly positive fashion, although it appears the bullish momentum ran out of steam in the final moments of trade on Monday.

Gains in Information Technology, Energy were offset by Utilities, Telecommunication.

At the closing bell, the benchmark S&P/ASX 200 index eked out a +9.4 points, or +0.13% gain, to 7,023.6, while the broad All Ordinaries index gained +16.4 points or +0.23% to 7,255.8.

Heavyweights BHP Group added +0.06%, to $49.60, Rio Tinto rose +0.49%, to $126.04, while Fortescue Metals Group gained +1.36%, to $23.10.

Gold miners also got their shine back as the precious yellow metal price rally on Friday, with Newcrest rose +2.61% to $28.35, Evolution Mining advanced +5.35%, to $5.12, and Northern Star Resources jumped +6.55%, to $11.22.

In Financials, the Commonwealth Bank lead the “Fab Four” (banks) higher and rose +1.25%, to $97.79.

Meanwhile, National Australia Bank lost -0.65% to $26.05, Australia and New Zealand Banking Group fell -0.4%, and settled at $27.31, with Westpac Banking Corp ended down -0.31%, to $25.33, and Macquarie Group dropped -4.89% and settled at $150.59.

Technology stocks were remained mixed with Buy-now-pay-later giant Afterpay rose +0.13%, to $86.46, accounting software provider Xero surged +5.56%, to $118.75, Altium rose +1.49%, to $24.52, Megaport added +1.59%, to $13.40, NEXTDC gained +1.15%, to $10.57, EML ended flat at $5.15, Zip Co advanced +2.78%, to $7.02 and Nearmap lost -2.87%, to $1.695.

Supermarket giants Coles and Woolworths were weaker, with Coles lost -0.12% to $16.33, while its rival Woolworths fell -0.32% to $40.45.

Carsales.com plunged -11.84% to $17.20 after emerging from a trading halt entered last week while it completed part of a capital raising to pay for the acquisition of US-based Trader Interactive.

Aristocrat Leisure shined to a better-than-expected half-year earnings results would be confirmed next Monday, sending the pokies maker +4.23%, higher to $38.92.

E-commerce group Kogan added +0.49% to $10.17, while Seek fell -1.14% to $28.59.

Meanwhile, JB Hi-Fi climbed +2.55% to $48.47, while Telstra dropped -0.58% to $3.43, with Wesfarmers fell -0.22%, to $54.08, Aristocrat Leisure rose +4.23%, to $38.92 and QBE Insurance tumbled -0.67% to $10.45.

Biotechnology giant CSL slid -0.4%, to $276.57, while ResMed added +0.24%, to $25.25, Fisher & Paykel Healthcare added +2.09%, to $31.32, while Cochlear lost -0.43%, to $215.37 and Mesoblast jumped +6.61%, to $1.855.

Crown Resorts finally responded to U.S. private equity giant Blackstone’s takeover offer, knocking it back by saying even the improved price undervalued the casino giant.

Crown also asked rival Star Entertainment Group to give more detail on its merger proposal to create a $12bn gambling and entertainment behemoth, saying its board had not yet formed a view on the merits of the bid.

Crown shares rose +0.84%, to $13.15 while Star shares added +0.99%, to $4.10.

As for our oil and gas producers, Woodside Petroleum lost -0.27% to $22.52, while Oil Search ended up +0.79%, to $3.85, Santos rose +1%, to $7.08, Beach Energy rose +1.19% to $1.28, and Worley ended flat at $11.45.

Travel stocks were firmer with Sydney Airport rose -1.23%, to $5.77, Corporate Travel Management rose +4.11%, to $18.00, Flight Centre added +1.59%, to $15.32, and Webjet climbed +0.87% to $4.70.

Meanwhile, our local currency, the Australian dollar, is currently buying US$0.7742 (as of writing).

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