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Highlights
- The benchmark S&P/ASX 200 gained 0.52% or 35.10 points to end the day at 6,794.30 points.
- Top performing stocks in this index were Zip Co Limited and Kelsian Group Limited.
- The energy sector fell as much as 2.83% today.
Australian share market ended higher today (July 21) with the benchmark S&P/ASX 200 gaining 0.52% or 35.10 points to end the day at 6,794.30 points.
Before entering the green territory in afternoon trade, the index had spent the majority of the session trading in red today.
The recovery was spearheaded by big four high-street banks and was supported by a surge in stocks of technology, consumer and healthcare companies. After dismal trading updates from Woodside Energy and Santos, the energy sector fell as much as 2.83%.
Key pointers from ASX close today
- The ASX 200 benchmark index closed higher on Thursday, up 0.52% at 6,794.30 points.
- The top performing stocks in this index were Zip Co Limited and Kelsian Group Limited, up 16.54% and 14.71% respectively.
- In last five trading sessions, the benchmark index has gained 2.16%, but is down 8.74% on year-to-date basis.
- Seven of 11 sectors ended higher today. Information Technology was the best performing sector, gaining 3.15%.
- Telecom Services advanced 2.08%, while healthcare was up 1.62% today.
- Volatility indicator A-VIX index was down 2.53% today.
- The All-ordinaries Index followed the broader market trend gaining 0.62%.
News Makers
Kelsian Group Limited (ASX:KLS): Kelsian informed today that it has cancelled its plan to buy UK bus and rail group Go-Ahead. It seems that the announcement was welcomed by the investors as shares of Kelsian closed trading at AU$6.24 apiece, up 14.71% today.
Woodside Energy Group Ltd (ASX:WDS): The energy giant raised its forecast for annual capital expenditure to a range of US$4.30 billion to US$4.80 billion compared to its earlier forecast in the range of AU$3.8 billion to AU$4.2 billion. Despite a strong rise in its revenue, the shares of Woodside fell 4.39% to close trading at AU$31.14 per share.
Newcrest Mining Limited (ASX:NCM): According to Newcrest's operating report, the business successfully met its gold production forecast for FY22. However, compared to the guidance for FY22, the company's copper production decreased by 3%. Meanwhile, Newcrest shares ended 1.63% higher at AU$19.35 each today.
Bond yields
Australia’s 10-year Bond Yield stands at 3.573% as of 3.52 PM AEST.
Image Source: © Ymgerman | Megapixl.com
In global markets
In this week's recovery, high-growth tech companies provided more upward momentum in the wake of Netflix's excellent earnings surprise. The healthcare industry and other areas of the market that compete with bonds were negatively impacted by a rise in US Treasury yields.
With a gain of 185 points or 1.58%, the growth-stock-heavy Nasdaq Composite took the lead. The S&P 500 gained 23 points (0.59%).
In Asia, the Asia Dow advanced 1.73%, while Nikkei in Japan gained 0.26% at 3.58 PM AEST. On the other hand, Shanghai Composite in China dropped 0.49% while the Hang Seng in Hong Kong fell 0.76% at 3.58 PM AEST.
The short decline in the US dollar during European trading hours (later reversed) and increased talk of Chinese stimulus helped industrial metals recover. According to Chinese Premier Li Keqiang more work is required in order to strengthen the economy.
In Commodities markets
Tech stocks led the way as US equities closed higher. Precious metals and oil prices fell. As China created a new central entity to oversee its ore acquisitions, iron ore markets traded in a mixed pattern.
Crude Oil WTI was spotted trading at US$99.42/bbl at 4.13 PM AEST while Brent Oil was at US$106.61/bbl at 4.13 PM AEST.
Gold was at US$1692.49 an ounce at 4.14 PM AEST.
