Afterpay (ASX:APT) shares take a hit: ASX tracking 1% higher at noon

09Mar

Afterpay (ASX:APT) shares take a hit: ASX tracking 1% higher at noon

 

The Australian share market opened higher and is now tracking 1 per cent higher at noon. The S&P/ASX 200 index is 70 points up at 6,810. On the futures market the SPI is 64 points higher.

Local economic news

NAB’s monthly business survey for February showed a rise in business confidence to 16, from 12 a month ago, Business conditions rose to 15, from 9 last month.

Broker moves

Macquarie rates Newcrest Mining (ASX:NCM) as an Upgrade to an Outperform from a Neutral. The broker upgrades its copper price forecasts in the short-term by 20 per cent and 30 per cent in the medium-term to incorporate energy transition-related demand. The improved outlook drives an 8%-36% increase in the earnings forecasts for FY21-FY25 for Newcrest Mining. Target price is $30.00. Shares in Newcrest Mining (ASX:NCM) are currently 1.3 per cent lower at $23.56.

Company news

Mesoblast (ASX:MSB) today announced the successful completion and settlement of its $138 million private placement led by a strategic US investor group. The placement was raised via the issue of 60 million shares at $2.30 per share, and was led by a strategic investment from the principals of SurgCenter Development, one of the largest private operators of ambulatory surgical centres in the US specializing in spine, orthopaedic and total joint procedures. Shares in Mesoblast (ASX:MSB) are 2.2 per cent lower at $2.21.

Best and worst performers

The best-performing sector is Financials, adding almost 2 per cent, while the worst performing sector is Infotech, shedding 4.5 per cent.

The best performing stock in the S&P/ASX 200 is Vocus (ASX:VOC), rising 8.6 per cent to $5.43, followed by shares in Unibail-Rodamco-Westfield (ASX:URW) and Corporate Travel Management (ASX:CTD).

The worst performing stock in the S&P/ASX 200 is Afterpay (ASX:APT),dropping 9.2 per cent to $101.02, followed by shares in Insurance Australia Group (ASX:IAG) and Megaport (ASX:MP1).

Commodities and the dollar

Gold is trading at US$1,685 an ounce.
Iron ore price rose 0.1 per cent to US$174.34.
Iron ore futures are pointing to a fall of 1.8 per cent.
One Australian dollar is buying 76.47 US cents.
 
Copyright 2021 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

08Feb

Fed Chair rhetoric supports markets as tech layoffs continue

08 Feb 2023 - Stocks advanced Tuesday following Federal Reserve Chair Jerome Powell’s comments that inflation was on the decline.The Fed Chair repeated post-FOMC meeting messaging during his appearance at the Economic Club of Washington, noting that the disinflationary process will be bumpy and further rate increases will likely be necessary. He stated that if strong labour market data continues, the Fed will raise rates, but he expects the labour market to soften.

Read More
27May

US stocks crept up as inflation worries subdue: ASX to edge higher

27 May 2021 - The ASX is set to edge higher following Wall St’s advance. All three indexes closed in positive territory as investors come to grips with the Federal Reserve’s inflation outlook, amid the pace of the economic recovery. UBS rates Zip (ASX:Z1P) and Afterpay (ASX:APT) as a sell.

Read More
10Aug

Wall St mixed, Tesla has 22% upside, Delivery Hero’s stake in U.K. Deliveroo climbs 5%, Why Universal Biosensors is a buy again: ASX to rise

10 Aug 2021 - Another mixed closed on major indexes around the globe on mounting fears that Covid-19 cases could derail the pandemic rebound while the oil price slump pressured the Energy sector on concerns the Delta variant might slow down oil demand. Meanwhile, banks impressed investors on the local market as earnings season heats up. Results from meme stock AMC, Tesla’s rating got upgraded to a buy, China’s inflation is hotter than expected while TikTok owner ByteDance plans...

Read More
27Feb

S&P 500 falls as investors await key inflation data

27 Feb 2024 - The S&P 500 slipped on Monday as the broad market index retreated from its record notched last Friday and investors awaited key inflation data.

Read More
15Jan

President Trump impeached for the 2nd time: ASX closes 0.4% higher

14 Jan 2021 - It has been a positive day of trade for the ASX. After opening higher, the market slightly dipped and then rallied throughout the day to end 0.4% higher. Over in the US, President Donald Trump was impeached by the House of Representatives for the second time.

Read More
12Mar

Trump addresses the US on coronavirus and triggers ASX sell-off: ASX tracking 2.5% lower at noon

12 Mar 2020 - The ASX dropped at the open and is now tracking 2.5% lower at noon. US President Donald Trump has just addressed the nation, putting restrictions on all travel to the US from Europe except the UK because of the coronavirus. This will go into effect from Friday evening US time. Integrated Research (ASX:IRI) has signed a significant renewal and extension software licence agreement with JP Morgan Chase, for a total contract value of US$10 million.

Read More
01Aug

Wall St rises on disappointing GDP growth, Marley Spoon serves mixed results, Why Flight Centre is a hold: ASX poised to edge higher

30 Jul 2021 - Global stocks rallied as earnings season continued amid positive economic data in Europe, though mixed numbers in the U.S. Asian markets climbed after their recent panic selling. Coverage of U.S. GDP and jobless claims, Biden’s vaccine requirement & tech titan’s mandate. Earnings figures from Yum Brands, Pinterest & Robinhood’s underwhelming debut. Marley Spoon (ASX:MMM) plated mixed results. Why UBS rates Flight Centre (ASX:FLT) as a hold.

Read More
13Nov

Afternoon update: ASX trading 0.3% lower, Utilities is best performer

13 Nov 2023 - The S&P/ASX 200 is trading 0.3 per cent lower at 6,955.60.

Read More
04Jul

MegaCap tech names push the broad index to new highs

04 Jul 2024 - Markets continued to march upwards in light trade on a shortened trading session ahead of the Independence Day holiday. Megacap Tech names dominated the tape and set the positive tone for the broader market.

Read More
17May

Red-hot inflation rise pressures Wall St to plunge: ASX to fall

13 May 2021 - The ASX is set to drop following Wall St closing deep in the red as the annual inflation rate rose to its highest in 13 years. Citi rates Suncorp (ASX:SUN) as neutral while Morgan Stanley rates Virgin Money UK (ASX:VUK) as hold. The SPI futures are pointing to a 0.4% fall.

Read More