Australia’s S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished higher on Wednesday.
Here’s a short recap of the Australian market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) higher 0.80% to 6,375.90
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) higher 0.75% to 6,466.50
- AUD/USD at US 71 cents
- Gold at US$1,278.95 an ounce
- Brent Oil at US$72.80 a barrel
The best-performing ASX 200 share today was the Bravura Solutions Ltd (ASX: BVS) share price which increased by 7.5% in response to yesterday’s investor presentation.
Another business to rise today was the Australia and New Zealand Banking Group (ASX: ANZ) share price which went up 2.8% in response to its half-year result which showed a rise in continuing cash profit.
The buy now, pay later sector continues its strong run with the Afterpay Touch Group Ltd (ASX: APT) share price up by 6.6% and the Zip Co Ltd (ASX: Z1P) share price grew even faster – it went up 12.1%.
The share price of Bingo Industries Ltd (ASX: BIN) went up 5.3% after updating the market about its Dial A Dump acquisition and the network redevelopment.
However, at the red end of the ASX today was the Super Retail Group Ltd (ASX: SUL) share price which fell 8.8%.
The Bank of Queensland Limited (ASX: BOQ) share price dropped 4% after going ex-dividend.
Finally, the share price of A2 Milk Company Ltd (ASX: A2M) declined 3.3% after giving investors a trading update.
A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming. To the tune of an estimated $US22 billion.
Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.
Here's the best part: we think there's one ASX stock that's uniquely positioned to profit immensely from this explosive new industry... taking savvy investors along for what could be one heck of a ride.
AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.
Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia owns shares of A2 Milk, AFTERPAY T FPO, and Super Retail Group Limited. The Motley Fool Australia has recommended Bravura Solutions Ltd. 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 Scott Phillips.