SEEK (ASX:SEK) appoints CFO: ASX200 tracking 0.6% lower at noon

11Mar

SEEK (ASX:SEK) appoints CFO: ASX200 tracking 0.6% lower at noon

 

The Australian share market has retreated after lifting higher following mixed leads from the US and is now tracking 0.6 per cent lower at noon. Technology stocks faded in the first hour of trade on the back of the tech heavy Nasdaq closing lower. Likes of Afterpay (ASX:APT) are dragging the Technology sector shedding 7.5 per cent with Xero (ASX:XRO) dropping 2.3 per cent. On the other hand, travel stocks have lifted on the back of the Federal Government's tourism package that will replace Jobkeeper in April with Flight Centre (ASX:FLT) as the performing stock at midday with Webjet (ASX:WEB) and Qantas (ASX:QAN) gaining momentum. Meanwhile, Prime Minister Scott Morrison urged for a two-way trans-Tasman travel bubble with New Zealand to assist the tourism sector.

The ASX 200 index is is 38 points down or 0.6 per cent lower at 6,676. On the futures market the SPI is suggesting a fall of 59 points.

Broker moves

Morgans rates biotech CSL (ASX:CSL) as an add which is an upgrade from a hold. While identifying plasma collection as the main concern, the broker sees upside in Seqirus, on the potential for a bad northern hemisphere flu season. The recent flu respite may leave the population more vulnerable to more severe flu outbreaks over the medium/long term. Morgans makes no changes to forecasts or the price target of $301.10. Shares in CSL (ASX:CSL) are trading 0.3 per cent lower at $251.42.

Company news

Online employment company, SEEK (ASX:SEK) has appointed Kate Koch as Chief Financial Officer. Kate is to replace Geoff Roberts after announcing his retirement in January this year. Kate is currently the CFO of RMIT University and has been in role since 2017. Prior to that, Kate has had broad international experience as a senior finance executive in the retail, publishing and media industries. Kate is set to join the team in June. Shares in SEEK (ASX:SEK) are trading 0.5 per cent higher at $26.69.

Best and worst performers

The best-performing sector is Industrials adding 0.9 per cent while the worst performing sector is Information Technology shedding 3.7 per cent.

The best performing stock in the S&P/ASX 200 is Flight Centre (ASX:FLT) rising 9.5 per cent to $19.49 followed by shares in Atlas Arteria (ASX:ALX) and Janus Henderson Group (ASX:JHG).

The worst performing stock in the S&P/ASX 200 is Afterpay (ASX:APT) shedding 7.5 per cent to $106.58 followed by shares in Zipco (ASX:Z1P) and Challenger (ASX:CGF).

Commodities and the dollar

Gold is trading at US$1,725 an ounce.
Iron ore price has gained 0.2 per cent to US$164.67.
Iron ore futures are pointing to a fall of 0.3 per cent.
One Australian dollar is buying 77.25 US cents. 
Copyright 2021 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

11Oct

Citi downgrade Domino’s Pizza Enterprises (ASX:DMP): Aus shares close 0.9% higher

11 Oct 2019 - The Australian share market jumped in the first 10 minutes of trade and tracked sideways for most of the day to finish 0.9% higher at the close. Sky Network Television (ASX:SKT) has responded to media speculation denying that it has secured the SANZAAR rugby rights from 2021.

Read More
04Dec

IPO frenzy: Aus shares close 0.3% higher

04 Dec 2020 - The ASX200 gained momentum throughout the day to close 0.3% higher, with investors choosing to pick up banks and energy stocks ahead of the weekend. That marks the fifth week of gains for the index. At the closing bell the S&P/ASX 200 index closed 19 points higher to finish at 6,634. Over the week, the market has gained 33 points or 0.5%.

Read More
17Oct

US retail sales decline unexpectedly: ASX poised to open lower

17 Oct 2019 - Following weak leads from US markets, the ASX looks set to open lower this morning. Retail sales in the US saw the first decline in seven months – this could bolster potential for a third Federal Reserve interest-rate cut. Gold producer, Beacon Minerals (ASX:BCN) has acquired the Panther lease near the Jaurdi Project in Western Australia.

Read More
25Nov

Wall St mixed, Iron ore above US$100, Vulcan Steel is a buy: ASX to open higher

25 Nov 2021 - Mixed market around the globe as Wall St digested a slew of economic data & FOMC meeting minutes. RBNZ interest rate hike weighed on inflation concerns. UBS rated Vulcan Steel (ASX:VSL) as a buy.

Read More
03Jan

A positive end for the start of the year: ASX closes 0.6% higher

03 Jan 2020 - It has been a positive day of trade for the ASX, the local bourse managed to close 0.6% higher. Shares in Northern Star Resources (ASX:NST) rose today on news they bought all the shares in Kalgoorlie Lake View. Shares in Costa Group Holdings (ASX:CGC) dropped after reports of a tenant suffering fire damage on their berry farm.

Read More
23Dec

Restaurant Brands New Zealand (ASX:RBD) buy 70 KFC stores in California: ASX set to open lower

23 Dec 2019 - The ASX looks set to open lower this morning. There is no local data expected for this week as businesses slow down for the Christmas break. On Friday, Chinese leader Xi Jinping said the “phase one” trade deal is beneficial to both China and the US and the whole world. Restaurant Brands New Zealand (ASX:RBD) has today entered into an asset purchase agreement with a KFC US franchisee for the purchase of 70 stores.

Read More
15Sep

Investors rally behind Wall Street’s latest IPO

15 Sep 2023 - The Dow Jones Industrial Average rallied the most in over a month as traders cheered the revival of Wall Street’s IPO market and a decent batch of economic data.

Read More
13Nov

Afternoon update: ASX trading 0.3% lower, Utilities is best performer

13 Nov 2023 - The S&P/ASX 200 is trading 0.3 per cent lower at 6,955.60.

Read More
19Jun

Aussie shares give up gains, banks, miners sell off: Aus shares close 0.1% higher

19 Jun 2020 - The local share market gave up its gains in late trade alongside a similar loss of strength in US futures. Miners and the big four banks sold off in the lead up to the close. Woodside Petroleum says it would consider pre-empting any deal by a third party to buy departing partner Chevron's stake in the $34 billion North West Shelf venture.

Read More
13Mar

S&P500 and the Dow reset record highs: Aus shares set to open higher

12 Mar 2021 - The SPI indicates that the Aussie market will rise at the open. This follows a broad rally on Wall Street, bolstered by tech stocks which boosted the S&P500 and the Dow to new record highs. CHAB Office Trust, which is part owned by Charter Hall Group (ASX:CHC) and Abacus Property Group (ASX:ABP) is set to buy 241 Adelaide Street, Brisbane.

Read More