Jarden Brief: ASX 200 starts week with 1.5pc gain

The ASX 200 started the week up 1.5 per cent with more than 80 per cent of the companies closing in the green. Photo / Getty Images

Keeping you up to date with the latest market moves, in association with Investment firm Jarden

International
US

The US market was closed for Memorial Day.

New Zealand

The NZX 50 closed in the green yesterday, up 0.7 per cent.

The a2 Milk company soared 10.2 per cent after confirming it had applied to the US Food and Drug Administration (FDA) for approval to supply infant milk formula. This comes after their Australian peer Bubs received clearance last week.

Film technology producer Vista Group gained 5.8 per cent after it announced that it had entered into a 10-year agreement to transition an existing major enterprise client to the Vista Cloud platform.

Fisher & Paykel Healthcare increased 3.3 per cent. The company announced Cather Simpson will join the Board as a non-executive director.

Conversely, Pacific Edge dropped 10.4 per cent. The biotechnology company released its audited financial results last Thursday which showed a net loss after tax of $19.8 million.

Rounding out the underperformers were retirement village operator Oceania Healthcare down 2.9 per cent and payment services provider Pushpay Holdings declining 2.1 per cent.

ANZ will increase its floating home loan and ANZ Flexible Home Loan interest rates by 40 basis points as well as lifting its business floating loan and overdraft base rates by 50 basis points. This comes after rate hikes by Kiwibank.

Australia

The ASX 200 started the week up 1.5 per cent with more than 80 per cent of the companies closing in the green.

Information technology, materials and healthcare sectors were the key drivers, up 4.6, 2.2 and 1.9 per cent respectively. The only detractor was utilities, down 0.7 per cent.

Battery materials and technology company Novonix rose 11.0 per cent.

Block Co also increased yesterday, rising 10.9 per cent. This may have followed the tech rally on the New York Stock Exchange listing last Friday. This climb mirrors the share movement of Block Co's US listing.

Gambling company Tabcorp leads the laggards with a 4.5 per cent drop. This continues their decline from last week and brings it over 80 per cent down year to date.

Machine intelligence company Appen continued its volatility, falling 3.7 per cent.

Agricultural goods and services business Elders closed 2.7 per cent down. The company went ex-dividend yesterday.

In retail trade data, seasonally adjusted monthly retail sales were released and showed a 0.9 per increase from the previous month and a 9.6 per cent increase from the same time last year.

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