ASX 200 opens in green on Wall Street rally; Pfizer COVID-19 jab gets full FDA nod

Highlights

  • The ASX 200 was up 6.5 points at 7,496.4 in opening trade.
  • All three major US stock indices ended higher on Monday as sentiment was boosted by FDA’s full approval of a COVID-19 vaccine.
  • Kogan.com’s revenue for FY21 increased 56.8% to AU$780.7 million, but net profit after tax fell 86.8% to AU$3.5 million.

The Australian benchmark index opened higher on Tuesday, with the ASX 200 up 6.5 points at 7,496.4 in opening trade with the materials sector trading in the green due to higher commodities prices.

Image Source: Copyright © 2021 Kalkine Media

Global equity markets were up on Monday while the US dollar dipped. Wall Street continued its rally on Monday as sentiment was boosted by full FDA approval of Pfizer’s COVID-19 vaccine.

All three major US stock indices ended higher on Monday, with the Dow Jones gaining 0.61% to 35,335.70 and S&P 500 making a record high of 4,489.88, closing 0.11% up at 4,479.54. The NASDAQ Composite closed at new all-time high pf 14,942.65, gaining 1.55% on Monday.

Related Article: S&P 500, Nasdaq hit record highs after tech, energy stocks rally

How has the market performed so far?

As of 10:30 AM AEST, the ASX 200 has further rallied by 25.4 points and was trading 0.34% up at 7,515.3, reclaiming the 7500 mark. The ASX All Ordinaries Index was trading 31.3 points or 0.4% higher at 7,792.40.

The major index contributors in the opening session were Chalice Mining Limited (ASX:CHN) and Flight Centre Travel Group Limited (ASX:FLT), both gaining 4.08% and 3.43%, respectively.  On the flip side, a few stocks weighing on the benchmark index were Monadelphous Group Limited (ASX:MND) and Ansell Limited (ASX:ANN), both losing 5.89% and 5.14%, respectively.

                       

ASX cheers FDA’s full approval of a COVID-19 vaccine

 

On the sectoral front, 6 out of the 11 sectors are trading higher today, with the Information Technology sector gaining the most with a 0.59% uptick, followed by the Materials sector gaining 0.29%. The utilities sector is down 0.26%.     

Newsmakers

Aerometrex Limited (ASX:AMX) has recorded an annualised recurring revenue (ARR) of AU$4.8 million for FY21, a healthy growth of 189% over the last year. Full year revenue was 4% up at AU$20.9 million. Due to a net loss of AU$4.1 million, no dividend was declared.

Viva Energy Limited (ASX:VEA) has posted robust numbers in 1H FY21, allowing it to pay a record fully franked interim dividend of 4.1 cents per share. The company’s sales volume rose 5% to 6.7 billion litres, while gross profit soared 17% to AU$788.9 million.

Uniti Group Limited (ASX:UWL) has reported a strong organic growth and operational efficiency in FY21. The free cash flow soared by a massive 379% and operating cash flow was up 325%. The revenue for the reported period jumped 175% to AU$159.9 million.

Image Source: Copyright © 2021 Kalkine Media

Kogan.com Limited’s (ASX:KGN) revenue for FY21 increased 56.8% to AU$780.7 million. However, net profit after tax (NPAT) fell 86.8% to AU$3.5 million. Excess inventory and logistics detention charges due to supply chain interruptions weighed on the company’s profit.

Infomedia Limited’s (ASX:IFM) revenue for FY21 rose 3% to AU$97.4 million, while EBITDA was also 3% up to AU$47.6 million. The company declared a partially franked dividend of 2.3 cents per share and is expecting a revenue figure between AU$117 million – AU$123 million for FY22.             

Read More: COVID-19 booster shot for immunocompromised people: are there any additional risks?

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