Join our daily newsletter At The Bell to receive exclusive market insights
The ASX200 closed 0.84% at 8,295 points.
The market remains buoyant in the wake of Trump’s election in the United States, and the expectation China will ramp up stimulus measures.
IT finished the session the best performing sector, up 1.76%, followed by Discretionary, up 1.3%, and Real Estate, up 1.2%.
In the Green
Australia’s biggest company Commonwealth Bank (ASX:CBA) closed up 1.4% after hitting a new all time intra-day record. The company remains in favour with investors, despite a historically high price to earnings ratio of 26.5.
Commonwealth Bank closed at $149.32.
Sigma Healthcare (ASX:SIG) closed up 4.53% as analysts price in ACCC approval for the multi billion dollar merger with Chemist Warehouse. Citi expects the combined entity to continue performing well and says there is opportunity for international expansion.
Sigma Healthcare closed at $2.54.
Equinox Resources (ASX:EQN) closed up 32% on reports of “ultra high grade” antimony at its Canadian Alturas project. Assayed samples flagged on Friday included two just shy of 70%; and several hovering just under 50%.
Equinox Resources closed at 16.5 cents.
In the Red
Block (ASX:SQ2) closed down 6.06% on release of its quarterlies. Gross profit of $2.25 billion was a 19% increaser quarter over quarter, but results fell short of investors expectations.
Block closed at $111.75.
SSR Mining (ASX:SSR) closed down 11.76% on release of its quarterlies. The company’s Çöpler mine in Turkey experienced a serious fatal incident in February this year, which continues to weigh on its operations and bottom line.
SSR Mining closed at $8.03.
AVITA Medical (ASX:AVH) closed down 4.11% on Q3 results. The regenerative medicine company highlighted significant revenue growth, but this did not impress investors.
Avita Medical closed at $3.50.
