Lendlease rumour-rally boosts ASX

The S&P/ASX 200 closed just 13.2 points lower at 6297 today, a decline of 0.2 per cent. The market hit its lowest point of 6277 in the opening minutes and jumped up and down in 15-point range all day. It closed higher than it had been all day, helped by late gains in heavyweights CSL and BHP.

CSL added the most points with a 1.42 per cent rise to $200.05 and Lendlease added points with a 8.7 per cent rise to $13.85. This morning it was rumoured to be the target of a take over by Japanese giant Mitsui, but Lendlease has denied this and Mitsui says it is not engaged in any deliberations in regard to a takeover of Lendlease.

Telstra also closed higher at $3.45. It is inching back up to $3.50, the highest price since February 2018. Telstra shares hit a low of $2.56 on 27 June, 2018, and have risen 36 per cent since then.

The market was dragged down by 105 companies closing lower. The most points were taken away by Commonwealth Bank, ANZ Bank, and Macquarie Group. The latter two both went ex-dividend today.

The biggest percentage loss was with Reliance Worldwide, down 15.6 per cent to $3.89. Smartgroup fell 5.3 per cent to $8.55 and Eclipx dropped 4.7 per cent to 92 cents.

Source link Business News Australia

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