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Afternoon (PM) Market Report

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 
All Ordinaries 6103 10 0.16
S&P/ASX 200 6022 9 0.14
Currency Close Pts Change % Change 
$A vs $US 0.7573 0.0019 0.25
$A vs GBP 0.5680

0.0011

0.19
$A vs EUR 0.6442 0.0009 0.13
$A vs YEN 85.83 0.07 0.08
$A vs $NZ

1.0907

0.0018

0.16