The healthcare sector pushes market lower: ASX closed 0.7% lower

16Jul

The healthcare sector pushes market lower: ASX closed 0.7% lower

 

After an optimistic slight rise at the open the Australian share market closed 0.7 per cent lower. Shares in Whitehaven Coal (ASX:WHC) and Cooper Energy (ASX:COE) did well today. Shares in the Breville group fell lower. As for the sectors today Industrials closed the day the highest and Healthcare fell lower.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 42 points down to finish at 6,011.

Futures market

Dow futures are suggesting a fall of 101 points.
S&P 500 futures are eyeing a dip of 14 points.
The Nasdaq futures are eyeing a fall of 81 points.
And the ASX200 futures are eyeing a 48 point fall tomorrow morning.

Local economic news

Seasonally adjusted employment increased by 210,800 people between May and June, and the unemployment rate rose from 7.1 per cent to 7.4 per cent, according to the Australian Bureau of Statistics (ABS).

Company news

DGO Gold (ASX:DGO) has entered into an agreement with SensOre to acquire a 40 per cent equity interest in SensOre’s subsidary Yilgarn Exploration Ventures for $4 million. DGO’s investment in Yilgarn Exploration will provide sufficient funding for proof of concept drilling on each of the 9 targets over the next 18 months. Yilgarn Exploration is currently testing the first of its targets at Desdemona North. SensOre’s technology has predicted a 5km by 3km mineral system with potential for a Tier 1 resource. Shares in DGO Gold (ASX:DGO) closed 2.8 per cent higher at $3.34.

Beacon Lighting Group (ASX:BLX) report underlying Net Profit After Tax rose to $19 million, a profit growth of around 16.7 per cent.

PointsBet Holdings (ASX:PBH) reports PointsBet Illinois, has been issued a Temporary Operating Permit by the Illinois Gaming Board.

Helloworld Travel (ASX:HLO) has launched a fully underwritten $50 million Equity Raising to increase the Company’s balance sheet flexibility and to provide liquidity to help it manage the prolonged period of disruption to the global travel industry.

Best and worst performers of the day

The best performing sector was Industrials adding 0.3 per cent while the worst performing sector was Healthcare shedding 1.5 per cent.

The best performing stock in the S&P/ASX 200 is Whitehaven Coal (ASX:WHC) rising 6.4 per cent to $1.59, followed by shares in Cooper Energy (ASX:COE) and Mcmillan Shakespeare (ASX:MMS).

The worst performing stock in the S&P/ASX 200 is Breville Group (ASX:BRG) dropping 6.3 per cent to $23.90, followed by shares in Avita Theraputics (ASX:AVH) and The A2 Milk Company (ASX:A2M).

Asian markets

Lower: Japan’s Nikkei has lost 0.8 per cent, Hong Kong’s Hang Seng has lost 1.1 per cent and the Shanghai Composite has lost 2.4 per cent.

Commodities and the dollar

Gold is trading at US$1,807 an ounce.
Iron ore price is 0.2 down at US$112.30
Iron ore futures are pointing to a fall of 0.2 per cent.
Light crude is US$0.32 lower at US$41.08 a barrel.
One Australian dollar is buying 69.93US cents.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

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