ASX 200 opens flat; Huon Aquaculture (ASX:HUO) surges over 36% 

Summary

  • The ASX 200 has opened almost flat, trading a mere 0.2 points up at 7,538.6, taking cues from a strong Wall Street closing.
  • The market breadth is depicting a bearish sentiment, with seven out of the 11 sectors are trading in red.
  • Accounting group Kelly Partners Group Holdings has reported a jump of 15.1% to AU$4.6 million in net profit in FY21.

On Monday, benchmark index, the ASX 200, opened almost flat, trading a mere 0.2 points up at 7,538.6, taking cues from a strong Wall Street closing over the weekend after a stronger-than-expected US jobs report.

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A positive jobs report had taken the US stock market modestly higher Friday, but a parallel increase in Treasury yields capped gains: the strengthening labour market could push the Federal Reserve to reduce its massive stimulus policies faster than expected.

On Friday, the Dow Jones rose 0.41%, to 35,208.64, while the S&P 500 gained 7.44 points, or 0.17%, to 4,436.54, both closing at record highs. The NASDAQ Composite fell 0.4%, to 14,835.76.

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How has the market performed so far?

As of 10:30 AM AEST, the ASX 200 has witnessed some buying and moved 13.8 points or 0.18% higher to 7,552.2. The ASX All Ordinaries Index is up by a mere 2.3 points, trading at 7,808.8, supported by a 36.56% rally in Huon Aquaculture Group Limited’s (ASX:HUO) share price and a 12.75% rise in the share price of 4DMedical Limited (ASX:4DX).

The market breadth is depicting a bearish sentiment, with seven out of the 11 sectors trading in red. The Information Technology sector is losing the most with a 0.27% fall followed by a 0.16% drop in the Materials space. Utilities sector is the topmost gainer with an uptick of 0.37%.

                       

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Top performing stocks of the ASX 200 are Netwealth Group Limited (ASX:NWL) and Insurance Australia Group Limited (ASX:IAG), trading 2.66% and 2% higher, respectively.

Gold Road Resources Limited (ASX:GOR) and News Corporation (ASX:NWS) are the top laggards so far, losing 7.36% and 7.1%, respectively.

Newsmakers

Insurance Australia Group Limited’s (ASX:IAG) chairman Elizabeth Bryan will be succeeded by Tom Pockett, who is currently the chairman of Stockland and Autosports Group. At the forthcoming Annual General Meeting (AGM), director Duncan Boyle will also retire.

MyState Limited’s (ASX:MYS) Managing Director and Chief Executive Melos Sulicich will be retiring at the end of the year. He has served the company for more than seven years. The company will soon commence the process to appoint a successor.

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Charter Hall Group’s (ASX:CHC) operating earnings grew 30.5% to AU$159 million in FY21, compared to the last year. A growth of 3.2% to 29.2 cents has been seen on a per stapled security basis. REIT’s net tangible assets climbed 16.8% to AU$5.22 per unit in the reported period.

Accounting group Kelly Partners Group Holdings Limited (ASX:KPG) has reported a jump of 15.1% to AU$4.6 million in net profit in FY21, while sales have risen by 7.5% to AU$48.9 million. For the year, the company has declared a 10% higher dividend at 5.32 cents per share.

Aurizon Holdings Limited’s (ASX:AZJ) underlying net profit rose by a mere 1% to AU$533 million in FY21, while sales dropped 1.5% to AU$3.06 billion. Despite an almost unchanged net profit, the company hiked its final dividend payout by 10% to 14 cents per share.     

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