Shares in Mesoblast (ASX:MSB) drop over 15%: ASX closed 0.4% lower

15Dec

Shares in Mesoblast (ASX:MSB) drop over 15%: ASX closed 0.4% lower

 

The local sharemarket ended lower today after failing to gain momentum after a drop at the open. Shares in Reliance Worldwide Corporation (ASX:RWC) are doing well today meanwhile, shares in Mesoblast (ASX:MSB) dropped over 15 per cent.

The S&P/ASX200 fell 29 points or 0.4 per cent to 6,631.

Futures

The Dow futures are suggesting a rise of 15 points. S&P 500 futures are eyeing a gain of 1 point. The Nasdaq futures are eyeing a fall of 11 points. And the SPI futures are eyeing a fall of 33 points tomorrow morning.

Local economic news

Between the week ending 14 March 2020 and the week ending 28 November 2020, payroll jobs decreased by 2.0 per cent, total wages decreased by 2.6 per cent.

Company news

IT service management company DWS Limited (ASX:DWS) says the Foreign Investment Review Board (FIRB) has confirmed to HCL Australia Services Pty. Limited (HCL) that the Treasurer has no objection to HCL’s proposed acquisition of all of the issued ordinary shares in DWS pursuant to the proposed scheme of arrangement (Scheme). In addition, New Zealand’s Overseas Investment Office has also given its permission to proceed with the proposed Scheme and has issued an order allowing HCL to give effect to the proposed Scheme. Shares in DWS Limited (ASX:DWS) closed 0.2 per cent higher at $1.19.  

Cochlear (ASX:COH) says the United States Supreme Court has denied their petition for review of the US Federal Circuit’s decision upholding a Judgment of USD $280 million in patent infringement damages against Cochlear in the lawsuit by the Alfred E. Mann Foundation for Scientific Research (“AMF”) and Advanced Bionics LLC (“AB”).

The ACCC has outlined preliminary competition concerns with Woolworths’ (ASX:WOW) proposal to acquire 65 per cent of PFD Food Services.

Contracting group MACA (ASX:MLD) is set to buy Downer EDI’s Mining West business for an acquisition value of $175 million with approximately $30 million from the unwinding of working capital balances.

IPOs

There were two debuts on the ASX today. Akora Resources (ASX:AKO) started trading today. The exploration and development of iron ore company issue price was $0.25, it started trading at $0.32 and closed at $0.39.

SILK Laser Australian (ASX:SLA) also started trading today, It’s shares were issued at $3.45, it started trading at $3.65 and closed at $3.58.

Best and worst performers

The best-performing sector is Real Estate Investment Trust gaining 0.9 per cent while the sector trailing behind was Energy dropping 2 per cent.

The best performing stock in the S&P/ASX 200 is Reliance Worldwide Corporation (ASX:RWC) rising 4 per cent to $4.40, followed by shares in Shopping Centres Australasia Property Group (ASX:SCP) and Xero (ASX:XRO).

The worst performing stock in the S&P/ASX 200 was Mesoblast (ASX:MSB) dropping 15.2 per cent to $3.85, followed by shares in Altium (ASX:ALU) and Mineral Resources (ASX:MIN).

Asian markets 

Japan’s Nikkei has lost 0.4 per cent Hong Kong’s Hang Seng has shed 0.9 per cent and the Shanghai Composite has gained 0.5 per cent.

Commodities

Gold is trading at US$1,837 an ounce.
Iron ore has lost 3.6 per to $154.37
Iron ore futures are suggesting a rise of 0.1 per cent.
Light crude has lost $0.31 cents to $46.30.
One Australian dollar is buying 75.15 US cents.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

13Mar

US markets resume rally following inflation data

13 Mar 2024 - Stocks jumped Tuesday after fresh U.S. inflation data was about in line with expectations, clearing the way for investors to resume buying high-flying tech names such as Nvidia and Meta Platforms.

Read More
20Oct

US stocks slide following comments from Fed Chair Jay Powell

20 Oct 2023 - Stocks slid on Thursday as Wall Street parsed commentary from Federal Reserve Chair Jerome Powell while monitoring a key milestone for a closely followed bond yield.

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
17Apr

US stocks fall as weak sales results dent strong corporate earnings

17 Apr 2023 - The Dow Jones Industrial Average fell Friday, but notched a positive week, as investors assessed a weak retail sales report that dented enthusiasm around a stronger-than-expected start to corporate earnings.

Read More
19Aug

Wisetech Global (ASX:WTC) shares shoot up on their results: ASX tracking almost 1% higher at noon

19 Aug 2020 - Things are currently looking bright on the Australian share market. It shot up at the open and is now tracking almost 1 per cent higher at noon. The tech sector is currently doing well as is healthcare. Wisetech Global (ASX:ASX:WTC) shares saw a huge leap this morning after reporting a almost 200 per cent rise in their NPAT over the year. Shares in Resolute Mining (ASX:RSG) didn’t fare so well.

Read More
24Aug

Local shares to slide at the open: David Murray, John Fraser and Boe Pahari have all resigned from their positions at AMP

24 Aug 2020 - Local shares are set to start the week in negative territory despite a strong finish to the week on Wall Street. David Murray, John Fraser and Boe Pahari have all resigned from their positions at AMP. New Zealand telco Chorus has reported $52 million in net profit for the 2020 financial year just shy of the $53 million made last year.

Read More
13Jun

S&P 500 sets new record following Fed & inflation news

13 Jun 2024 - The S&P 500 and the Nasdaq both hit all time highs closing at new records following the Fed’s policy announcement and May CPI numbers that pointed to easing inflationary pressures.

Read More
23Sep

Webjet stocks dip as EBITDA downgraded: Aus shares close 0.3% higher

23 Sep 2019 - The S&P/ASX 200 index closed 0.3% higher. As for the sectors, we saw strong performances from Real Estate, Health Care and Energy. Digital travel company Webjet (ASX:WEB) took a hit today after one of its customers, Thomas Cook, entered compulsory liquidation.

Read More
03Jul

Tech stocks lift market: Aus shares gain 2.5% over week

03 Jul 2020 - The Australian share market opened higher this morning following positive leads from offshore markets. It fell mid-session and tracked sideways for most of the afternoon to close 0.4 per cent higher. Over the week, the market has gained 154 points or 2.5 per cent. According to the latest Australian Bureau of Statistics retail trade figures, Australian retail turnover jumped 16.9 per cent in May (seasonally adjusted).

Read More
06Jan

Gold miners lead gains: Aus shares close flat

06 Jan 2020 - Australian share market recovers closing flat. Evolution Mining (ASX:EVN) and Newcrest Mining (ASX:NCM) led the gains. Bega (ASX:BGA) drops 9.3 per cent on bushfire update.

Read More