The Australian share market, including the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and All Ordinaries (INDEXASX: XAO)(ASX: XAO) indices, closed slightly higher on Thursday.
Here’s what was making waves on the ASX today.
Biggest Movers
- Cann Group Ltd (ASX: CAN) – up 35% (Why? Read more here)
- Auscann Group Ltd (ASX: AC8) – up 54%
- Yancoal Australia Ltd (ASX: YAL) – up 4%
- Seek Limited (ASX: SEK) – up 2.3%
- Fortescue Metals Group Limited (ASX: FMG) – up 1.8%
Biggest Losers
- Qantas Airways Limited (ASX: QAN) – down 2.8%
- Aristocrat Leisure Limited (ASX: ALL) – down 2.1%
- St Barbara Ltd (ASX: SBM) – down 4.6%
- Netwealth Group Ltd (ASX: NWL) – down 4.1%
- Saracen Mineral Holdings Limited (ASX: SAR) – down 4.2%
Most Popular Investing News
ASX shares in medicinal cannabis companies received a welcome boost today following the Federal Government’s decision to allow Australian growers to export their product.
Minister Greg Hunt said, “We are making these changes because the expanding domestic medicinal cannabis products industry is facing increasing competition from imports.”
Also making news today were calls for rising interest rates. According to some leading economists, such as those from HSBC (LON: HSBA), Australian homeowners can expect higher interest rates on their mortgages by mid-2018.
AMP Chief Economist Shane Oliver is less enthusiastic about interest rate rises in 2018. However, he expects house prices in Sydney and Melbourne to fall by 5% this year. Read more here.
Keep Reading:
- Will Mortgage Interest Rates Rise in 2018?
- Australian Cannabis Shares Get High on Government Exports
Tweet of the day
https://twitter.com/bretjturner/status/948336006054395904
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