Market wraps 0.9% lower: Down 0.6% over week

 

The ASX retreated during the first half of the session. It recovered some ground over the afternoon but left the run a little late finishing 0.9 per cent lower for the day.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 52 points lower to finish at 6,074.

Over the week, the market has lost 37 points or 0.6 per cent.

Futures market

Dow futures are suggesting a rise of 189 points.
S&P 500 futures are eyeing a rise of 20 points.
The Nasdaq futures are eyeing a lift of 43 points.
And the ASX200 futures are eyeing a 43 point fall on Monday morning.

Broker moves

Credit Suisse has upgraded IGO (ASX:IGO) to an Outperform, with a 12-month price target of $4.35. This comes after IGO's 2020 financial year numbers matched guidance provided at the company's June quarter update. A 5 cent final dividend came in at the top end of management's dividend payout range. Shares in IGO (ASX:IGO) closed 3.9 per cent lower at $4.45.

Diversified payment company, FlexiGroup (ASX:FXL) has raised $79 million after completing the institutional component of its 1 for 3.2 pro rata accelerated non-renounceable entitlement offer.

Shine Justice (ASX:SHJ) has released its financial results for the 2020 financial year. Net profit after tax rose 53.6 per cent year on year to $21.55 million.

Harvey Norman (ASX:HVN) has announced a 19 per cent rise in reported net profit after tax (and NCI) to around $481 million, bolstered by second half sales growth.

Autosports Group (ASX:ASG) recorded a net loss after tax of $102.4 million.

Wall Street

Wrapped up our four trading days this week higher: The Dow Jones added almost 2 per cent, The S&P 500 added 2.5 per cent and the tech heavy Nasdaq gained 2.7 per cent.
  
Copyright 2020 – Finance News Network

Source: Finance News Network