Friday , March 5 2021

The owner of Noni B, the big winners of Zip Co., as ASX reaches 11 months higher

The Australian sharemarket reached a new high of 11 months after employment figures labeled “spectacular” and “impressive” by economists, a comprehensive upgrade of impressive companies and a positive advantage in the United States.

The S & P / ASX200 rose 0.79% to 6823.7, while the all-ordinary index gained 0.8% to 7107.1.

After Wall Street broke new records after the inauguration of Joe Biden as president of the United States, the ASX shot up in the morning trade and managed to keep most of its profits.

CommSec analyst Tom Piotrowski said the addition of 50,000 jobs in December was in line with expectations and continued progress in employment growth in the economy, while the rate of unemployment was better than expected, at 6.6 percent, from 6.8 percent.

“So a really encouraging set of numbers,” Piotrowski said.

“We had 320,000 jobs added to the economy in the last quarter of last year: this is precisely what you want to see at this time of recovery.

“Naturally, this plays a very important role in terms of stock market fortunes.”

The star performer was Mosaic Brands, owner of fashion brands such as Noni B, Katies, Rockmans and Rivers, which rose 31.25% to $ 1.15 after posting a first-half update showing the group’s biggest increase in online commerce as its customers avoid malls. due to renewed concerns about COVID-19.

Black Friday sales doubled compared to the previous year and have quickly built their online offering.

Mosaic said the group returned to profitability during the period, and while it was finalizing accounts before its Feb. 24 first-half report, gains would likely “materially exceed market consensus.”

The other big winner was Zip Co., which paid now, jumping 23.08 percent to $ 7.36 after filing a December quarterly trading update showing record revenue of $ 102 million. of dollars, 88% more year-on-year.

Other records he achieved included a quarterly transaction volume of $ 1.6 billion.

CEO Larry Diamond said the exceptional set of numbers confirmed Zip’s position as one of the fastest growing players in the industry.

Shares of BNPL Afterpay’s market leader continue to grow, setting a new record of $ 149, up 5.67%.

Waste management company Cleanaway fell 8.46 percent to $ 2.38 after announcing that executive chairman Vik Bansal was waiving a mutual decision with the board.

Bansal is credited with administering an impressive change for the company, but was set on fire late last year after a poignant series of media reports alleging intimidation the staff.

Woodside Petroleum was down 1.64% to $ 26.95 after issuing its fourth-quarter report, which showed it had reached an agreement on the highest price of LNG, but gave a guideline for lower-than-expected production throughout the year.

Rio Tinto added 1.74% to $ 121.88 and BHP rose 1.56% to $ 47.02, while Fortescue rose 0.16% to $ 24.87.

ANZ rose 1.15% to $ 24.74, Commonwealth Bank appreciated 1.13% to $ 85.32, National Australia Bank advanced 1.63% to $ 24.30 and Westpac won 1.11% to $ 21.82.

The Australian dollar bought 77.76 US cents, 56.8 British pence and 64.07 euro cents in the afternoon trade.

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