Household wealth recovers in June quarter: ASX tracking 1.1% lower at noon

24Sep

Household wealth recovers in June quarter: ASX tracking 1.1% lower at noon

 

The Australian share market fell at the open and is now tracking 1.1 per cent lower at noon. Westpac (ASX:WBC) shares were down this morning after agreeing to pay a $1.3 billion fine for its failure to adhere to money laundering laws. Shares in Challenger (ASX:CGF) rose today and shares in Avita Therapeutics (ASX:AVH) dropped.

The S&P/ASX 200 index

The S&P/ASX 200 index is 67 points down at 5,857. On the futures market the SPI is suggesting a fall of 1.1 per cent.

Local economic news

ABS

Australian National Accounts: Finance and Wealth show household wealth recovered in June quarter to $165.1 billion a 1.5 per cent rise

Payroll jobs 4.5 per cent lower than mid-March
Almost two-thirds (64%) of all businesses reported that they were operating under modified conditions due to Covid-19 in September 2020. This compares to almost three-quarters (73%) of all businesses that were operating under modified conditions in June 2020.

Australia’s population grew 1.4 per cent over the year.

Company news

Altura Mining Limited (ASX:AJM) is pleased to advise of continued production and shipping from the Altura Lithium Project. Operations have remained steady with site-based personnel returning to pre-Covid-19 rosters. Production has been consistent with total September quarter production expected to be between 43,000 and 45,000 wet metric tonnes, which is in line with previous quarters. Shipping tonnages for the September quarter have exceeded production, sold via four separate cargoes to long-term offtake partners. Shares in Altura Mining Limited (ASX:AJM) have been suspended since August – last traded at $0.07.

Best and worst performers

The best-performing sector is Industrials losing the least down 0.3 per cent, while the worst performing sector is Infotech losing 1.9 per cent.

The best performing stock in the S&P/ASX 200 is Challenger (ASX:CGF) rising 3.7 cent to $3.77, followed by shares in Janus Henderson Group (ASX:JHG) and Pendal Group (ASX:PDL).

The worst performing stock in the S&P/ASX 200 is Avita Therapeutics (ASX:AVH) dropping 5.5 per cent to $7.09, followed by shares in Perseus Mining (ASX:PRU) and Evolution Mining (ASX:EVN).

Commodities and the dollar

Gold is trading at US$1,865 an ounce.
Iron ore price is 3 per cent lower at US$113.81.
Iron ore futures are suggesting a rise of 0.1 per cent.
One Australian dollar is buying 70.60US cents.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

26May

Downer EDI (ASX:DOW) wins $450m Fortescue (ASX:FMG) contract: ASX closes 2.9% higher

26 May 2020 - The ASX has recorded its best session in seven weeks as it exits a bear market. The local bourse managed to close 2.9% higher. Afterpay (ASX:APT) shares hit $50 today they close at the $49 mark -a record high. Downer EDI (ASX:DOW) is expanding its relationship with Fortescue Metals Group (ASX:FMG) through the provision of Early Mining and Maintenance Services at Eliwana iron ore mine

Read More
06Mar

Italy blocks vaccine shipment to Australia: Aus shares poised to open lower

05 Mar 2021 - Aussie futures are indicating that the market will start the day in negative territory. This follows a volatile trading session on Wall Street. US markets ended the day lower after US Federal Reserve Chairman Jerome Powell indicated that inflation is likely to rise as the economy recovers. While he forecast that such rises were likely to be temporary, the comments were enough to spook investors and spark a selloff in the equity markets. Childcare and...

Read More
27Feb

Link Administration (ASX:LNK) help push tech sector lower: ASX closed 0.8% lower

27 Feb 2020 - The ASX closed 0.8% lower - another day ending in the red. Adelaide Brighton (ASX:ABC) shares did well today as a number of analysts upgraded them. Link Administration (ASX:LNK) shares fell after their company released their half-year results. Digital medication management company MedAdvisor (ASX:MDR) reported record operating revenue of $4.4 million, up 14.4% on the pcp.

Read More
12Jun

US sharemarkets suffer worst day since March, Dow slumps 6.9%: Aus shares to plunge

12 Jun 2020 - The Australian sharemarket looks to open lower following a big sell off in the US. Shares suffered their worst day since March and stocks that have surged recently on hopes of a reopening of the economy led the declines.

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
12Jan

ARB Corp’s (ASX:ARB) soar on market update: ASX closes 0.3% lower

12 Jan 2021 - The ASX slid today closing 18 points down, or 0.3% lower at 6,679. Shares in the ARB Corporation (ASX:ARB) did well today after they reported they achieved unaudited sales revenue of $284 million for the half year ended 31 December 2020 which represents growth of 21.6 per cent compared with the prior corresponding period.

Read More
12Apr

Markets bounce back from inflation led sell off

12 Apr 2024 - Tech stocks led the market back into positive territory after the previous sessions inflation led sell off after the March PPI number came in below estimates providing a positive data point for inflation concerns.

Read More
05Jun

Tower (ASX:TWR) voluntarily refunds $7.2M: ASX secures 6th week of gains

05 Jun 2020 - The Australian share market made a comeback this afternoon to finish 0.1 per cent higher today, falling just short of the 6,000 point level. The market was buoyed by a strong performance from the Financials sector. New Zealand Insurance Company, Tower (ASX:TWR) is refunding customers to the tune of $7.2 million due to the lower cost of car claims during the covid lock down period.

Read More
31Aug

Aus shares to start the week lower: IOOF to acquire NAB’s wealth business

31 Aug 2020 - The local market is expected to start the week lower as earnings season comes to a close. The reporting season has been the worst since the last recession in terms of earnings, the focus on earnings has also led to underperformance in the ASX which is lagging behind Wall Street, with the S&P500 and the Nasdaq both hitting record highs on Friday. All eyes will be on IOOF (ASX:IFL) today following media reports in...

Read More
28Jan

Coronavirus fears rattle investors: Aus shares 1.3% lower at noon

29 Jan 2020 - The local sharemarket has tumbled this morning following global bourse lower as the economic and financial impacts of the coronavirus are beginning to bite. Karoon Energy (ASX:KAR) has commenced drilling of 256m-barrel prospect.

Read More