Red finish: Aus shares closes 3.1% lower

11Jun

Red finish: Aus shares closes 3.1% lower

 

After a small dip around lunchtime the local bourse managed to close 3.1 per cent lower. Travel companies took a hit today with shares in Webjet (ASX:WEB), Flight Centre Travel (ASX:FLT), and Corporate Travel Management (ASX:CTD) all declining. Northern Star Resources (ASX:NST) and Newcrest Mining (ASX:NCM) all did well today. As for the sectors today Healthcare ended the day on top and Energy fell lower.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 188 points lower to finish at 5,961.

Futures market

Dow futures are suggesting a fall of 467 points.
S&P 500 futures are eyeing a fall of 41 points.
The Nasdaq futures are eyeing a dip of 84 points.
And the ASX200 futures are eyeing a 167 point fall tomorrow morning.

Company news

Kin Mining NL (ASX:KIN) has recovered all items from the Lawlers Processing Plant that it wanted to recover for potential future use at its 100 per cent-owned Cardinia Gold Project in Leonora. The Company acquired the Lawlers Processing Plant from Agnew Gold Mining Company in June 2017 as part of its original development plan for the CGP, and key elements of the plant were utilised by Como Engineers. It has been agreed that Kin will transfer title in all remaining assets at Lawlers back to Gold Fields in exchange for a full release from all further obligations to dismantle and remove the remaining assets. Shares in Kin Mining NL (ASX:KIN)closed 4.2 per cent higher at $0.13.

IGO’s (ASX:IGO) field program with Buxton Resources Limited (ASX:BUX) for the West Kimberley JV 2020 field season is expected to commence with on ground activities in early July.

Nickel Mines (ASX:NIC) raised approximately $179 million at $0.50 per New Share in their institutional component of the Entitlement Offer.

JB Hi-Fi (ASX:JBH) and The Good Guys have seen strong sales growth in 2H20 as customers spend more time at home. Total NPAT , after New Zealand impairment, to be in the range of $300 million to $305 million, an increase of 20 per cent to 22 per cent on the pcp.

Best and worst performers

The best performing sector was healthcare with the fewest loses losing 0.3 per cent while the worst performing sector was Energy, shedding 5.4 per cent.

The best performing stock in the S&P/ASX 200 was Northern Star Resources (ASX:NST), rising 6.8 per cent to close at $13.89. Shares in Newcrest Mining (ASX:NCM) and St Barbara (ASX:SBM) followed higher.

The worst performing stock in the S&P/ASX 200 was Flight Centre Travel Group (ASX:FLT), dropping 10.4 per cent to close at $15.10. Shares in Credit Corp Group (ASX:CCP) and Webjet (ASX:WEB) followed lower.

Asian markets

Lower: Japan’s Nikkei has lost 2.8 per cent, Hong Kong’s Hang Seng has lost 2 per cent and the Shanghai Composite has lost 0.8 per cent.

Commodities and the dollar

Gold is trading at US$1,727 an ounce.
Iron ore price is 0.6 down at US$103.93.
Iron ore futures are pointing to a fall of 1.1 per cent.
Light crude is US$1.45 lower at US$38.52 a barrel.
One Australian dollar is buying 69.30US cents.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

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