Excerpts from CommSec Evening Report | 15 January 2020 by Steven Daghlian
Aussie shares managed to hit fresh record highs for the second straight day, with the ASX 200 lifting by 32.6 pts or 0.47 per cent to 6994.8.The index got to within 3 pts of breaking 7000 pts for the first time and is on track to have the best start to a new year since 2013.
Almost all sectors advanced on Wednesday, with consumer staples the lone decliners. A number of stocks hit record highs including Ansell (ANN), Carsales (CAR), CSL Limited (CSL), Xero (XRO), Aristocrat (ALL) and Macquarie (MQG)
Mining stocks were mixed, with losses from Rio Tinto (RIO), Fortescue (FMG) and South32 (S32), easily offset by strong gains from gold producers. Evolution Mining (EVN) led the improvements, surging by close to 6 per cent, while St Barbara Mines (SBM) and Newcrest (NCM) were also strong performers.
Resolute Mining (RSG) announced the $300m sale of its Ravenswood gold mine in Queensland to a private equity firm. The gold miner expects the sale to strengthen its balance sheet and remove the need for heavy capital investment over the near-term.
Lithium producers came under pressure with Orocobre (ORE) and Pilbara (PLS) slipping by as much as 7.5 per cent. Both stocks have surged by ~30 per cent so far this month.
Mosaic Brands (MOZ) slumped by 2.7 per cent after receiving a broker downgrade. The retailer formerly known as Noni B (behind Katies and Rivers) fell by 17 per cent on Tuesday after delivering an 8 per cent slide in sales over the six months to December. Its stores were partly impacted by a drop in consumer spending in recent months due to bushfires.
2.5bn shares were traded worth $6.1bn. 640 stocks rose, 485 fell and 385 finished unchanged.
The US idexes at 08:00 AEDST today.
Commodities
NATIONAL NOTHING DAY. Each year on January 16, people across America observe National Nothing Day. National Nothing Day was created as a day to provide Americans with one National day when they can just sit without celebrating, observing or honouring anything. So for them I got, well, nothing.
The rest of you can choose from either end of the breakfast bar.
Coffee is an endless cup, as many refills as you like.
Who knew the parting words of "I'll leave you the keys to the executive toilet." Was code for keys to the liquor cabinet. Beam me up Scottie.
I know we all hope @highlandlad is enjoying his break but doesn't extend it.
Have a good day all.
