Lottery retailer Jumbo (ASX:JIN) shares continue to fall: ASX 0.3% lower at noon

23Dec

Lottery retailer Jumbo (ASX:JIN) shares continue to fall: ASX 0.3% lower at noon

 

The Australian share market took a dip at the open and has continued to fall throughout the morning now tracking 0.3 per cent lower at noon. Jumbo (ASX:JIN) shares have fallen as have NearMap (ASX:NEA). Cloud software providers Xero (ASX:XRO) shares are on the rise. The best-performing sector is Infotech, while the worst performing sector is Materials.

The S&P/ASX 200 index is 21 points down at 6,795. On the futures market the SPI is 26 points lower.

Broker moves

Citi has downgraded Event Hospitality and Entertainment (ASX:EVT) from a Buy to a Neutral lowering its target to $14.40 from $15.05. Citi suspects "sequel fatigue" may have set in, given the latest Star Wars offering is not enjoying the same box office success pre-Christmas as has previously been the case. December quarter box office in general is down -14% to date, with this year's slate not matching last year's blockbusters. The broker also takes weaker business confidence as a signal for weaker hotel revenues ahead.

Shares in Event Hospitality and Entertainment (ASX:EVT) added 0.4 per cent at $13.42.

Company news

Telix Pharmaceuticals (ASX:TLX) expects its TLX101 Phase I trial into glioblastoma multiforme brain cancer will complete during the second quarter of 2020 and read out will be used for an FDA/EMA consultation. The cancer radiation therapy business will open an Australian site in early 2020. They have eight clinical trials in progress, with a focus on molecularly targeted radiation products for brain, kidney and prostate cancers. 300,000 people worldwide are diagnosed with brain cancer and there are 240,000 deaths each year. Shares in Telix Pharmaceuticals (ASX:TLX) are flat at $1.51.

Best and worst performers

The best-performing sector is Infotech, adding 0.6 per cent, while the worst performing sector is Materials, shedding 1.3 per cent.

The best performing stock in the S&P/ASX 200 is Xero (ASX:XRO) rising 4.4 per cent to $83.97, followed by shares in Breville Group (ASX:BRG) and Inghams Group (ASX:ING).

The worst performing stock in the S&P/ASX 200 is Jumbo Interactive (ASX:JIN), dropping 6.5 per cent to $14.71, followed by shares in Nearmap (ASX:NEA) and Saracen Mineral Holdings (ASX:SAR).

Commodities and the dollar

Gold is trading at US$1,480 an ounce.
Iron ore futures are pointing to a lift of 1.1 per cent.
One Australian dollar is buying 69.03 US cents.
 
Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

23Mar

Restaurants, gyms and pubs to close under drastic new measures: ASX poised to open lower

23 Mar 2020 - The ASX recorded one of its worst month’s in history - it’s now set to open lower as the coronavirus continues to strike fear in investors. Last night Prime Minister Scott Morrison announced tough new 'stage one' restrictions, ordering pubs and licensed premises close for six months. AP Eagers (ASX:APE) have decided to reduce the amount of the fully franked final dividend from 22.5 cents per share to 11.25 cents per share.

Read More
14Jan

Trump impeachment vote underway: ASX poised to open higher

14 Jan 2021 - The ASX looks set to open higher this morning as Wall Street closed mixed. US President Donald Trump is on the verge of a second impeachment after the Capitol siege. Back home, state health authorities are searching for residents who had quarantined at the Brisbane Grand Chancellor hotel where two people were found to have the highly infectious UK strain. Meridian Energy (ASX:MEZ) confirms Rio Tinto will delay NZ smelter closure.

Read More
22Jul

AUD hits 12-month high against the USD: ASX poised to open lower

22 Jul 2020 - Following a mixed response from US markets overnight, the ASX looks set to open lower this morning. The Australian dollar has pulled back from daily lows to rise over 71 cents to the US dollar. US President Donald Trump has warned the US that the coronavirus pandemic will probably 'get worse before it gets better'. Meridian Energy (ASX:MEZ) report that for the month national hydro storage decreased from 103 per cent to 75% of historical...

Read More
30Aug

IT sector adds the most this week, 6%: Aus shares rise for 2nd week, this time adding 1.2%

30 Aug 2019 - Four days of straight gains and benchmark ASX200 now about 4% away from the all-time high hit late July. Australian dwellings approvals fall 9.7%, vs flat result expected. Austal Ltd (ASX:ASB) shares jump on record revenue and profit. Resolute Mining (ASX:RSG) attributable profit lifts 9%. ACCC takes action against BlueScope Steel (ASX:BSL).

Read More
17Nov

Trading resumes after technical hitch: ASX tracking 0.4% higher at noon

17 Nov 2020 - After a rocky day yesterday, the ASX rose at the open and is now tracking 0.4% higher at noon. Unibail-Rodamco-Westfield (ASX:URW) shares have jumped over 16 per per cent. Two IPO’s are currently performing well, Native Mineral Resources Holdings Limited (ASX:NMR) and Universal Store Holdings Limited – (ASX:UNI) after a false start yesterday.

Read More
25Nov

Construction work falls 2.6% in Sept quarter: ASX tracking 0.8% higher at noon

25 Nov 2020 - The ASX rose at the open and is now tracking 0.8% higher at noon. Shares in Whitehaven Coal (ASX:WHC) are doing well today meanwhile shares in Mesoblast (ASX:MSB) have dropped over 5% after a rally earlier this week. Harvey Norman (ASX:HVN) has reported a 160.1% increase in profit before tax between July 1 and October 31.

Read More
19Dec

Stocks continue winning streak as S&P500 nears record high

19 Dec 2023 - The S&P 500 rose Monday as the market maintained the momentum seen during its seven-week winning streak.

Read More
02May

US markets mixed as Fed opts to hold rates steady

02 May 2024 - US equities traded mixed for most of the session after Federal Reserve Chair Jerome Powell commented that the next move is unlikely to be a hike, easing investor concerns that the Fed was losing control of sticky inflation.

Read More
16Oct

Leading Index shows economic growth well below trend: ASX closes 1.3% higher

16 Oct 2019 - It has been a positive day of trade for the ASX, closing 1.3% higher. Silverlake (ASX:SLR) and Nearmap (ASX:NEA) shot up today. Shares in the Afterpay Touch Group (ASX:APT) slumped today. Westpac–MI Leading Index is showing economic growth rate is now well below trend after slipping further in September to its lowest level in four years. Sienna Cancer Diagnostics (ASX:SDX) CEO Matthew Hoskin will be stepping down.

Read More
08Mar

Wall Street on a high after stimulus plan: ASX to open higher

08 Mar 2021 - Following positive leads from US markets, the ASX looks set to open higher. The US Senate sat for almost 12 hours to pass President Joe Biden's $2.5 trillion Covid-19 relief plan. The AUD was hit on Friday as the yield reversal continues. The CEO of Oceania Healthcare (ASX:OCA) Earl Gasparich has announced his resignation.

Read More