The Australian market has see-sawed throughout the first trading day of the week, but trades in positive territory after lunchtime as a rally in consumer discretionary stocks boosts the key index. Energy stocks are also rallying more than 1% today following a spike in oil prices.
The rockets for today?s session so far are:
Pendal Group surging 7.8%, recovering some of last week?s losses after the global investment management business announced current chairman Mr James Evans has retired as chairman of the company and will be replaced by Mrs Deborah Page as of January 17, 2022. Mrs Page has extensive experience as a company director and chair across a range of sectors and is currently a director of ASX listed companies Brickworks, Growthpoint Properties Australia and Service Stream.
Adbri is rallying 7.7% today after the cement lime and dry blended products manufacturer announced an extension to an existing lime supply agreement with Alcoa of Australia limited. The 12-month extension on the agreement will see a minimum revenue contribution of around 25 million and the maximum receive contribution is expected to be 35 million during the term extension.
And Magellan Financial Group rounds out our top 3 rockets for today as the investment manager jumps more than 4% despite no price sensitive news released by the company today.
On the divers front,
Perseus Mining leads the divers today, down 4.27% after lunchtime amid broad weakness in the gold mining sector.
Paladin Energy is down 3.98% today despite no news released from the uranium production company.
And Csr rounds out the divers for today, currently trading 3.68% lower also despite the building product company not releasing any price sensitive news today.