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Market Roundup: Veda Group Ltd soars, S&P/ASX 200 ends on top

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Credit:Daniel Haller

The ASX turned a 1% loss into a respectable gain today.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.5% to 5170 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.4% to 5194 points
  • AUD/USD at US 71.97 cents
  • Iron Ore at US$57.37 a tonne, according to the Metal Bulletin
  • Gold at US$1,129.42 an ounce
  • Brent oil at US$49.10 a barrel

The local sharemarket started on the back-foot after the US Federal Reserve voiced its concerns regarding global growth. The ASX then rebounded following comments from the Reserve Bank of Australia’s chief, Glenn Stevens, supporting the strength of the local economy.

The gold miners rallied hard following a 1.1% lift in the gold price overnight. Newcrest Mining Limited (ASX: NCM) gained 6.9%. Northern Star Resources Ltd (ASX: NST) was up 4.7%.

Westpac Banking Corp (ASX: WBC) was the best of the banks. It rose 3% compared to a 0.3% to 0.8% lift for each of its peers.

Veda Group Ltd (ASX: VED) was the biggest winner for the day. It rose 31.3% after receiving a compelling takeover offer from the US-based Equifax. Paladin Energy Ltd (ASX: PDN) fell 7.1%.

Here are Friday’s biggest news stories:

  1. Veda Group shares skyrocketed following a huge takeover offer
  2. The US Federal Reserve has left interest rates unchanged, and may not increase rates this year
  3. Premier Investments Limited (ASX: PMV) slumped after it reported its full-year earnings results
  4. Worried about a potential recession? Take a look at these three ASX companies
  5. Warning: Education investments are riskier than you think!
  6. Here’s what a $10,000 investment in Woolworths Limited (ASX: WOW) looks like today

Where to invest $1,000 right now

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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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