Australian dollar lifts on the last day of the year: ASX closes 1.8% lower

The Australian share market took a dip at the open and failed to gather any ground closing 1.8 per cent lower. All sectors are in the red – the sector with the least losses was Materials sector with Gold Road Resources (ASX:GOR), Resolute (ASX:RSG) and Saracen Mineral Holdings (ASX:SAR) all making gains today. The communication services sector faired the worst today.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 121 points lower to finish at 6,684

Futures market

Dow futures are suggesting a lift of 39 points.
S&P 500 futures are eyeing a rise of 4 points.
The Nasdaq futures are eyeing a lift of 13 points.
And the ASX200 futures are eyeing a 117 point fall for Thursday morning.

Company news

GrainCorp (ASX:GNC) today announced that the sale of its Australian Bulk Liquid Terminals business to ANZ Terminals Pty has completed. The sale includes 6 bulk liquid storage facilities but excludes GrainCorp’s Port Kembla Liquid Terminal (NSW). This is to address potential competition concerns the ACCC had about portside bulk liquid storage in NSW. The total sale price of $333 million includes a deferred component of $19 million, the payment of which is subject to the satisfaction of certain milestones relating to the extension and commencement of lease agreements on certain terminal sites in future periods. Shares in GrainCorp (ASX:GNC) closed 1 per cent lower at $7.58.

Rio Tinto (ASX:RIO) has today started the process of resuming operations at Richards Bay Minerals in South Africa.As previously advised, titanium dioxide slag production for 2019 is now expected to be at the bottom end of 2019 guidance of between 1.2 and 1.4 million tonnes.

Bardoc Gold (ASX:BDC) has seen highly encouraging results from current drilling targeting satellite deposits within the Company’s Bardoc Gold Project. The recently acquired Mayday North Project has seen broad zones of gold mineralisation.

Explorer of silica sands Perpetual Resources (ASX:PEC) has entered into a Contractor Agreement with Qube (ASX:QUB). Qube presently handles in excess of 85 million of bulk ore and minerals across mineral sands, lithium, fertilizer, concentrate, coal, iron ore and bulk liquid sectors.

Best and worst performers

All sectors were down but the best performing sector was Materials lost 1.1 per cent while the worst performing sector was Telcos, shedding 3 per cent.

The best performing stock in the S&P/ASX 200 was Gold Road Resources (ASX:GOR), rising 3.1 per cent to close at $1.34. Shares in Evolution Mining (ASX:EVN) and Resolute Mining (ASX:RSG) followed higher.

The worst performing stock in the S&P/ASX 200 was Pro Medicus (ASX:PME), dropping 8.9 per cent to close at $22.35. Shares in Technology One (ASX:TNE) and Wisetech Global (ASX:WTC) followed lower.

Asian markets

Lower: Japan’s Nikkei is closed, Hong Kong’s Hang Seng has lost 0.6 per cent and the Shanghai Composite has lost 0.1 per cent.

Commodities and the dollar

Gold is trading at US$1,522 an ounce.
Iron ore futures are pointing to a rise of 0.4 per cent.
Light crude is US$0.02 lower at US$61.66 a barrel.
One Australian dollar is buying 70.03 US cents.

Source: Finance News Network