Good night (or more precisely, good afternoon), and thank you all for joining me for this brief but lively Christmas Eve session

There were some heartwarming Christmas wishes in the comments section today, and some of you have cleaned up some of your worst trades this year, looking back, of course, is 2020

That’s all from me today and from the Markets Live team for the next while as the blog closes next week January return

Despite a strong trading day with the market up as much as 0.8 percent to touch 6700 earlier, the local exchange was unable to hold its own and declined late in the session to close at 6664 , a gain of 033 percent

The ASX traded for just over four hours on Thursday as the pre-Christmas session was shortened on Friday when the exchange closes. Volume was low as many traders were already on the Christmas break

Healthcare took an early drag on the index and the sector continued to stall during the day, losing 03 percent alongside the Utilities sector, which fell 0.4 percent

Energy and Real Estate saw the biggest gains in the session, improving 11 percent and 09 percent

An announcement by mining giant BHP to resume operations of its long-shuttered Samarco joint venture sparked excitement for the stock, which added the most points to the index after a 1% gain to $ 4295

Biotech CSL was the biggest straggler of the day The $ 130 billion giant continued its streak of losses, down nearly 10 percent last month after being forced to abandon one of its vaccine trials

Debt buyer Credit Corp surged nearly 20 percent to $ 29.76 Following an earlier announcement, the company had purchased a $ 160 million debt book from troubled seller Collection House Virgin Money added 9 percent to 2 Dollar43 on the back of the Brexit craze

At the end of the session, 118 companies were positive and 74 negative. The futures are pointing to slight gains on Wall Street overnight

With an hour until the market closes for Christmas, the ASX200 is sitting nicely, up 07 percent to 6690 points after recovering from its earlier slump

Healthcare and Utilities are the only sectors negative (minus 0) 4 and 0 percent each in the early afternoon. Energy is up, now 18 percent, followed by real estate up 1 percent

BHP and the financial sector continue to be responsible for a large part of today’s profits, with CSL, industrial property provider Goodmans and retail conglomerate Wesfarmers being the biggest laggards

Credit Corp is up 18 percent today after previously announcing it purchased a $ 160 million debt book from troubled seller Collection House

Lucy asked readers yesterday to share her best trades of the year Some of you have touted your Afterpay and Fortescue purchases In a different sense, share your worst pickups this year What purchases didn’t work out the way you wanted them to? Any COVID Victims?

Chinese regulators on Thursday announced an anti-monopoly investigation by e-commerce giant Alibaba Group, which intensified official efforts to tighten control over China’s fast-growing tech industry

Market regulator said it is reviewing Alibaba’s policy of choosing one of two This requires its business partners to avoid dealing with competitors. The one-sentence statement did not give details of possible penalties or a schedule for the announcement of a result

Chinese leaders said earlier that an economic priority for the coming year would be to step up antimonopoly enforcement

The regulators had previously forced the suspension of the stock market debut of the Ant Group, an online financial platform spun off from Alibaba

Financial advisory firm IOOF has notified investors that it is aware of a class action lawsuit filed by Slater and Gordon regarding the company’s superannuation products, ANZ and OnePath

Slater and Gordon claim that the trustee of these super funds breached their duties by charging excessive fees to pay unnecessary commissions to financial advisors, and also not looking for better ones when choosing a bank to deposit cash investments from clients Have searched

IOOF said although it was aware of the class action lawsuit, it had not yet been officially served with the trial

“[OnePath] intends to defend the allegation made in the Slater and Gordon statement,” the company said

Around noon and halfway through today’s abbreviated session, the ASX200 has pulled back a bit from its previous highs, which are currently at 0.47 percent at 6674

The easing is due in part to some declines in healthcare, consumer staples and technology that are either flat or slightly declining.Some of the biggest laggards in these sectors are Netweatlth, Domino’s, Collins Foods, Xero and Mesoblast

The energy sector is seeing the biggest gains to date of 15 percent, followed by materials and finance, both up 08 percent. BHP is still adding the most points to the index, now 13 percent, followed by a number of other companies including the four big banks

Marktschatz Brainchip responded well to the news that two new customer contracts were signed, which rose by 30 percent to 42 cents

Right now I’m listening to Michael Buble’s cover of Santa Baby, not because it’s a particularly good song, but because he makes the confusing decision to change the lyrics from “Santa Baby” to “Santa Buddy” and change the song Weird

to get Rolexes and Mercedes for Christmas

Prospective Xinja investors were told that the company would generate over $ 100 million in profits in five years and expand globally, although the fallen Neobank’s losses would multiply since its inception

A confidential investor presentation by The Age and the Sydney Morning Herald predicted that Xinja would be in the black within two years and achieve a profit of $ 138 million by fiscal 2026

Xinja’s financial records show that losses have multiplied since launch three years ago and auditors have consistently warned of bankruptcy risks in 2018, the company reported a loss of $ 6.5 million, which subsequently increased by more than five times increased to $ 358 million this year

The investor presentation, distributed by staff at Byron Bay advisory firm First Penny Investments, claimed Xinja had “multiple avenues” to expand its “cutting edge technology” to the US, UK and Southeast Asia and said the company would open in a “second area” by the end of 2021

“Australia provides Xinja with a profitable and highly regulated banking sector where it can demonstrate its technological capabilities, generate strong profits, and rapidly deploy and test technological innovations for markets around the world,” it said

Australia’s retailers and mall owners are confident that COVID issues won’t put a damper on any of the biggest shopping days of the year, as boxing day sees rampant spending, crowded malls and huge discounts on the cards

The Australian Retail Federation predicts avid shoppers are expected to spend $ 195 billion in the post-Christmas period, which runs from Boxing Day through Jan. January lasts

Michael Whitehead, general manager of the largest mall in the southern hemisphere, Chadstone, compares Jan. December with the grand final of the retail industry He and his team have been preparing for months and are looking forward to a shopping showdown against the past few years

“We are preparing for it to be a very busy day,” he said, “The retail sales we saw through November and December, the traffic numbers, and all of these things indicate that Boxing Day is going to be very strong will be strong “

Such an influx of spending, expected to increase 4 percent year-over-year, would be a welcome relief for many in the retail sector who have experienced closed stores and ongoing uncertainties due to severe year-round lockdowns

While spending has been plentiful for electronics and homeware sellers like Bunnings and Harvey Norman, discretionary operators like fashion and department stores have problems

Company regulator ASIC has confirmed it will not take enforcement action against the four major banks, Westpac, or their executives for violating anti-money laundering laws and failing to comply with child exploitation payments

In September, Westpac was hit with a $ 3 billion fine by financial regulator AUSTRAC for 23 million violations of anti-money laundering laws In addition to AUSTRAC’s investigation, other regulators ASIC and APRA also said they would investigate

“ASIC today informed Westpac that it has completed the investigation and does not intend to take any enforcement action against Westpac or any individual in connection with the investigation,” the company said

Christmas Eve

world news – AU – How it happened: ASX ends the Christmas Eve session with 03%

Source: https://www.smh.com.au/business/markets/asx-set-to-rise-in-christmas-eve-trade-20201224-p56pxo.html