Breville, supermarkets, Youfoodz among ASX winners

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Breville, supermarkets, Youfoodz among ASX winners

Breville shares hit a record high on the stockmarket today, supermarkets fared well and Youfoodz leapt after a strong quarterly report.

The benchmark S&P/ASX200 index finished 0.36 per cent firmer at 6824.7 while the All Ordinaries Index added 0.46 per cent to 7111.4.

“In coming days and weeks what will be interesting to see is whether or not the market remains above 6800 and we continue to extend the improvements we’ve already had so far this month or if the market could fall back to that narrow trading range of between 6600 and about 6800,” CommSec analyst Steve Daghlian said.

Kitchen appliances manufacturer Breville Group hit an all-time high of $30.20 before closing at $30, up 1.01 per cent.

Coles put on 1.6 per cent to $18.45 and supermarket rival Woolworths found 1.1 per cent to $41.21.

Bunnings and Officeworks owner Wesfarmers lifted 1.74 per cent to $54.34.

Coca-Cola Amatil gained 1.31 per cent to $13.20, with wealth management group Ord Minnett adding to commentary that Coca-Cola European Partners’ $9.3bn takeover bid of $12.75 per share is too low.

Ready-made meals producer Youfoodz Holdings leapt 16.08 per cent to $1.15 after delivering a set of strong numbers for the December quarter and reaffirming its prospectus forecasts.

Camera IconThe strong Youfoodz report included a 45.8 per cent surge in home delivery orders. Credit: News Regional Media

Fortescue Metals, which will release its quarterly results later this week, rose 4.03 per cent to $25.30.

The iron ore miner dipped more than 2 per cent on Friday when it flagged a first half net profit of up to $US4.1bn ($A5.3bn) and also revealed ambitious green energy plans.

“There is a clear strategic shift happening at Fortescue, with major investments likely in green hydrogen, and potentially green steel,” Ord Minnett researchers said.

“There is still no information on how to model these projects from a capital expenditure, cost or revenue perspective, and so the returns are uncertain and likely to be materially lower than for iron ore projects.

“Should Fortescue become a material player in the hydrogen segment, however, it would be one of only a few global companies that can offer leverage to this growing theme – hydrogen stocks rerated materially last year.”

Rio Tinto appreciated 2.05 per cent to $121.77 and BHP put on 1.06 per cent to $46.62.

Travel stocks were among the losers, with Webjet slipping 3.83 per cent to $4.77, Flight Centre dropping 3.33 per cent to $15.10 and Qantas backtracking 1.65 per cent to $4.77.

Camera IconFlight Centre was among travel stocks to lose ground despite positive COVID news on the east coast. Credit: AAP, Glenn Hunt/AAP

“This is despite no new COVID cases in NSW, Victoria and Queensland in the past day and Australia’s medical regulator TGA approving Pfizer’s vaccine — the first vaccine to receive approval in Australia,” Mr Daghlian said.

Energy stocks were lower after the oil price dipped, with Oil Search shedding 1.15 per cent to $4.30, Origin retreating 1.96 per cent to $5.01 and Woodside losing 0.87 per cent to $26.33.

The gold price also softened. Australia’s biggest miner of the precious metal Newcrest gave up 1.57 per cent to $26.34 but Gold Road Resources advanced 2.45 per cent to $1.25 after a positive broker report.

ANZ inched 0.16 per cent higher to $24.568, Commonwealth Bank added 0.21 per cent to $85.27, National Australia Bank firmed 0.04 per cent to $24.13 and Westpac was up 0.05 per cent at $21.79.

The Aussie dollar was fetching 77.41 US cents, 56.45 British pence and 63.54 Euro cents in afternoon trade.

The ASX will be closed on Tuesday for the Australia Day public holiday.

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