All sectors close in the red: ASX closes 2.3% lower
The Australian share market dropped at the open and continued to fall throughout the day closing 2.3 per cent lower. Healius (ASX:HLS) shares are on the rise after the news of the Partners Group proposal. PolyNovo (ASX:PNV) was abig loser today after reporting a net loss for the half year of $2.42 million, that’s 26 per cent increase from last year. As for the sectors, they are all in the red.
The S&P/ASX200 index
At the closing bell the S&P/ASX 200 index closed 159 points lower to finish at 6,708.
Futures market
Dow futures are suggesting a rise of 132 points.
S&P 500 futures are eyeing a rise of 17 points.
The Nasdaq futures are eyeing a lift of 62 points.
And the ASX200 futures are eyeing a 162 point fall for tomorrow morning.
Local economic news
The trend estimate for total construction work done fell 1.4% in the December quarter 2019.
Company news
Ferry operator SeaLink (ASX:SLK) report its half year net profit after tax is at $13.6 million, that’s up 3.8 per cent on the same. They said the closing days of December 2019 saw an excellent result for New Year’s Eve despite the impact of the bushfires across the country – although admitted the fires have hit their business. They also report that the coronavirus is a affecting sales, particularly in their international tourism businesses, especially Sydney Harbour. Shares in SeaLink (ASX:SLK) closed 11.9 per cent higher at $4.34.
Jeweller Michael Hill International (ASX:MHJ) today announced its half year financial results showing statutory net profit after tax increased by 19.6 per cent to $21.4 million, up from $17.9 million in the same corresponding period. They also opened a new store in Canada.
Bubs Australia (ASX:BUB) saw gross revenue of $28.75 million, up 37 percent on the same period last year. Bubs® Infant Formula was the key driver of growth with attributable gross revenues up 77 percent compared to the prior corresponding period (pcp).
Hotel Property Investments (ASX:HPI) has entered into agreements to acquire two metropolitan hotel properties for total consideration of $60 milion. They will buy Sydney’s Gregory Hills Hotel for $40 million and Acacia Ridge Hotel in metropolitan Brisbane, for a consideration of $20 million.
Best and worst performers of the day
The best performing sector was Consumer Discretionary losing the least at 1.6per cent while the worst performing sector was healthcare, shedding 3.6 per cent.
The best performing stock in the S&P/ASX 200 was Healius (ASX:HLS), rising 15.2 per cent to close at $3.18. Shares in Invocare (ASX:IVC) and Nine (ASX:NEC) followed higher.
The worst performing stock in the S&P/ASX 200 was PolyNovo (ASX:PNV), dropping 20.5 per cent to close at $2.40. Shares in Appen (ASX:APX) and Jumbo Interactive (ASX:JIN) followed lower.
Asian markets
Mixed: Japan’s Nikkei has lost 0.9 per cent, Hong Kong’s Hang Seng has lost 0.5per cent and the Shanghai Composite has gained 0.3 per cent.
Commodities and the dollar
Gold is trading at US$1,643 an ounce.
Iron ore price is 1.1 per cent lower at US$90.83..
Iron ore futures are pointing to a fall of 0.8 per cent.
Light crude is US$0.20 up at US$50.10 a barrel.
One Australian dollar is buying 65.95 US cents.
Copyright 2020 – Finance News Network
Source: Finance News Network
