Australia Bright start for ASX, banks main laggards

04:55  15 november  2021
04:55  15 november  2021 Source:   aap.com.au

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Australia's share market have only been held back by the banks as the indices rose about half of one per cent to start the week.

Financial shares were just about all that were holding the ASX from bigger gains. © James Gourley/AAP PHOTOS Financial shares were just about all that were holding the ASX from bigger gains.

Healthcare shares were best of the bunch on Monday and market giant CSL was up by about one per cent at 1200 AEDT.

Fortescue Metals continues to perform well in recent days and was up four per cent.

The iron ore miner had its biggest gain of the year on Thursday (8.19 per cent) after investors tipped troubled Chinese property developers, also major Fortescue customers, were about to gain easier credit access.

Banks recover losses, ASX little changed

  Banks recover losses, ASX little changed Banks have been recovering losses from the previous day but the ASX is little changed after falls on Wall Street.National Australia Bank shares were up more than four per cent on Wednesday after posting a booming full-year profit a day earlier.

The wellbeing of China's economy may influence trade later once economic data is published.

Retail sales, industrial output and urban investment figures for October are due and analysts are concerned about the effect of pandemic restrictions.

On the ASX, three of the big four banks were trading lower.

NAB traded ex-dividend and fared worst. Shares were down 2.12 per cent.

The benchmark S&P/ASX200 index was up 31.9 points, or 0.42 per cent, to 7474.9 points.

The All Ordinaries climbed 39.4 points, or 0.50 per cent, to 7805.2 points.

Wall Street eased at the end of last week, though the major indices were close to record highs.

Key data this week will be US retail sales, which will show any impact from the drop in consumer sentiment to a decade low reported for November.

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On the ASX, agribusiness Elders had a better full-year profit and higher dividend, helped by its purchase of a wholesale buying group.

The company had a net profit after tax of $149.8 million for the year to September 30.

The final dividend was 22 cents per share, 20 per cent franked. This was more than the same payout last year of 13 cents per share, fully franked.

Shares were down about half a per cent to $12.03.

Among the mining majors, BHP was little changed. Rio Tinto gained about one per cent. South32 lost 0.84 per cent.

Woodside Petroleum will sell a stake in the Pluto liquefied natural gas facility in Western Australia.

Woodside is selling a 49 per cent stake to Global Infrastructure Partners and will retain a 51 per cent stake.

Shares were better by 1.52 per cent to $22.59.

Airline Regional Express has resumed flights from Melbourne to Sydney as well as other routes.

Flights from Melbourne to Brisbane will begin on December 17 as the Queensland capital becomes the fifth capital city in the airline's network.

Shares were up 4.39 per cent to $1.54.

Computer chip maker BrainChip dived after the company named a new chief executive.

Former Compaq and HP executive Sean Hehir will join at the end of the month.

Shares fell almost five per cent to 57 cents.

The Australian dollar was buying 73.32 US cents at 1200 AEDT, easing from 73.86 US cents at Friday's close.

Will Smith narrates dramatic first teaser for Bel Air .
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