The share market has edged higher as the property sector was boosted by the $33 billion takeover of Westfield, and the consumer staples sector also rose.
Wednesday, 13th December, 2017
The ASX200 stock index was up 0.14 percent at 6,021.8 points after a session in which the index moved within a narrow range.
Shares in Westfield jumped 13.7 pe cent to $9.66 after the company agreed to a takeover from Europe's biggest property giant that values its securities at $10.01. While Scentre Group, which owns Westfield's Australian and New Zealand centres, is not involved in the takeover, its shares gained 1.6 percent to $4.42.
The retail sector was mixed, with JB Hi-Fi and Premier Investments posting small gains, and Harvey Norman and Super Retail Group modestly weaker. The supermarket giants rose, with Coles owner Wesfarmers gaining 0.9 percent to $44.18 and Woolworths adding 0.5 percent to $27.05.
The market's biggest stocks were relatively steady. ANZ was the weakest of the big four banks, dropping 0.5 percent to $28.67, while its rivals posted very modest falls. Rio Tinto dropped 0.2 percent to $70.14 and BHP Billiton added 0.1 percent to $27.69.
The Australian dollar is stronger due to improved sentiment in some metals markets, and a fall for the US dollar after the Democrats won the Alabama Senate race, which could have implications for the passage of US President Trump's US tax reforms through Congress.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7573||0.0019||0.25|
|$A vs GBP||0.5680||
|$A vs EUR||0.6442||0.0009||0.13|
|$A vs YEN||85.83||0.07||0.08|
|$A vs $NZ||