Afternoon update: ASX down 0.55% as Israel launches ground operations

30Oct

Afternoon update: ASX down 0.55% as Israel launches ground operations

 

The ASX has reached a 12-month low at midday on Monday due to investor concerns that the Israel-Hamas conflict may lead to a regional war, prompting a shift away from equities.

Israeli forces launched ground operations against Hamas in Gaza on Sunday, as part of a second-phase effort led by Prime Minister Benjamin Netanyahu to defeat the Palestinian militant group.

The S&P/ASX 200 is currently trading 0.55 per cent lower at 6,789.10.

Futures

The SPI futures are down 39 points.

Best and worst performers

The best-performing sector is Information Technology, up 0.9 per cent. The worst-performing sector is Energy, down 1.98 per cent.

The best-performing large cap is Newmont Corporation (ASX:NEM), trading 3.08 per cent higher at $61.33. It is followed by shares in Xero (ASX:XRO) and Evolution Mining (ASX:EVN).

The worst-performing large cap is IGO (ASX:IGO), trading 9.86 per cent lower at $9.60. It is followed by shares in Whitehaven Coal (ASX:WHC) and Pilbara Minerals (ASX:PLS).

Asian markets

Japan's Nikkei has lost 1.23 per cent.
Hong Kong's Hang Seng has lost 0.60 per cent.
China's Shanghai Composite has gained 0.38 per cent.

Commodities and the dollar

Gold is trading at US$2,012.90 an ounce.
Light crude is trading $1.00 lower at US$84.53 a barrel.
One Australian dollar is buying 63.56 US cents.
Copyright 2023 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

05May

Investors await RBA statement: ASX to open higher

05 May 2020 - Following a buying spree from US markets, the ASX looks set to open higher this morning. Crude oil gained for a fourth consecutive day. Stocks were lower during much of yesterday’s session after tensions escalated between the Trump administration and China, but energy, information technology and utilities gained with a late session rally. Centuria Capital (ASX:CNI) has agreed to acquire an initial 19% interest in Augusta Capital, New Zealand’s leading listed real estate funds manager.

Read More
13Apr

Business confidence rises to record high: ASX tracking 3 points higher at noon

13 Apr 2021 - The ASX started strong today with the S&P/ASX 200 tracking 0.05 per cent or 3 points higher at 6,977 at noon. The SPI futures are pointing to a rise of 9 points. NAB released their business survey for March with business confidence at a record high.

Read More
23Nov

Lynas (ASX:LYC) shares hit a 7-year high: ASX closes 0.3% higher

23 Nov 2020 - It has been a positive day of trade for the ASX. The local bourse managed to close 0.3% higher. Shares in Lynas Corp (ASX:LYC) hit a seven year high. Shares in Insurance Australia Group (ASX:IAG) dropped today despite the company successfully completing a $650 million institutional placement. Next Science (ASX:NXS) reports that 3M have agreed to not renew 3M’s distribution agreement for BlastX.

Read More
24Feb

Powell says recovery is far from complete: ASX poised to open lower

24 Feb 2021 - Following mixed leads from US markets, the ASX looks set to open lower this morning. The US Federal Reserve chair Jerome Powell says recovery is ‘far from complete.’ He also reiterated that the central bank planned to keep up low interest rates and large-scale bond buying. The tech sell-off continues with the NASDAQ continuing to be hit. And Seven West Media (ASX:SWM) has signed a Letter of Intent to provide news content to Facebook.

Read More
22Nov

Westpac (ASX:WBC) drags on market following AUSTRAC claims: ASX closes 0.6% higher

22 Nov 2019 - It has been a positive day of trade for the ASX, closing 0.6% higher. Westpac (ASX:WBC) shares continue to fall after AUSTRAC reported claims against the bank earlier this week. Metcash (ASX:MTS) has lost their current supply agreement with 7-Eleven after failing to reach an agreement for the east coast.

Read More
10Jul

Sezzle (ASX:SZL) set to raise $86.3M: Aus shares 0.1% lower at noon

10 Jul 2020 - The Australian share market is off to a rocky start today. It opened lower following renewed fears of a second wave of covid-19 in the US and is now tracking 0.1% per cent lower at noon. Macquarie rates Rio Tinto (ASX:RIO) as an outperform with a 12 month price target of $112. Buy now, pay later provider Sezzle (ASX:SZL) is to raise $86.3 million.

Read More
17Sep

Oil prices surge: ASX closed 0.3% higher

17 Sep 2019 - The ASX fell at the open following soft leads from Wall Street managing to drag itself up throughout the day and closed 0.3% higher. Ramsay Healthcare (ASX:RHC) lost investors today after reports the Paul Ramsay foundation selling $1.36bn stake. Advance Nanotek (ASX:ANO) has received a Therapeutic Goods Administration for its new manufacturing facility in Brisbane.

Read More
28Oct

Beach Energy (ASX:BPT) makes new gas discovery: Aus shares close 0.02% higher

28 Oct 2019 - The ASX200 opened higher reverberating the positive movements on Wall Street and posted its 6th consecutive session of gains today, managing to scrape in 0.02% higher. Pilbara Minerals (ASX:PLS) topped the best performer list rising 9.6%.

Read More
24Jun

Wall St closes mix as calm returns, Why Adairs is a hold: ASX to dip

24 Jun 2021 - In this report, I cover Wall St's mixed performance as investors took a breather amid surprising economic news. A wrap up of yesterday's local bourse which chased tech shares after bond yields eased. Why Ords downgrades Adairs (ASX:ADH). US Afterpay expands to 13 big names overnight.

Read More
29Oct

S&P500 closes at all-time high: Aus shares open higher

29 Oct 2019 - Technology stocks push S&P 500 index to an all-time high. Virgin Galactic stock have soared as it begins trading. iSignthis (ASX:ISX) responds to recent ASX query.

Read More