The Australian share market re-entered bearish grounds today with most sectors leading the local bourse lower, as trade-war fears have been reignited. It comes as Trump’s administration warned of putting steel and aluminium tariffs on Canada, Mexico and the EU.
Out of the big banks, ANZ
(ASX:ANZ) is leading the big four banks lower down 1.29 per cent. While Virgin
(ASX:VAH) leads the industrials lower after it lost 4.4 per cent.
Iron ore price rose 0.7 per cent to US$65.32 and its futures are pointing to a rise of 1.1 per cent, with BHP
(ASX:BHP) making a most gains, (of under one per cent at noon), with Rio
(ASX:RIO) and Fortescue
(ASX:FMG) in the red.
The S&P/ASX 200 index is 17 points or 0.3 per cent lower at 5,995 at noon. On the futures market the SPI is 20 points lower.
Company news Cochlear
(ASX:COH) shares hit an all time high today, cracking over $200. It comes despite BlackRock slightly reducing its major holding the hearing device company to 6.16 per cent, while another fund manager, Pinnacle Investment Management closed out their position in the fund. Cochlear has already previously maintained its earnings guidance. At noon, Cochlear
(ASX:COH) shares are trading 3.2 per cent higher at $202.40
Natural gas and electricity company, APA Group
(ASX:APA) has extended its power purchase agreement with Alinta Energy for the Badgingarra Wind Farm, with a 17.5 mega watt solar farm. The new agreement, wind and solar, extends the original 12-year deal by an additional 5 years to 2035. Alinta will purchase the energy and large -scale renewable energy certificates generated by both sources. The output of WA’s Badgingarra Wind Farm forms a major part of the company’s 1,000 mega watt renewable target by 2022. Shares in APA Group
(ASX:APA) are trading 0.1 per cent higher at $8.70
Best and worst performersThe best performing sector is health adding 0.5 per cent, while the worst performing sector is telcos, shedding 0.7 per cent.
The best performing stock in the S&P/ASX 200 is Domino's Pizza Enterprises Limited
(ASX:DMP), rising 5.2 per cent to $51.80 followed by shares in Cochlear Limited
(ASX:COH) and Evolution Mining Limited
(ASX:EVN).
The worst performing stock in the S&P/ASX 200 is Bellamy's Australia Limited
(ASX:BAL), dropping 5.1 per cent to $16.80, followed by shares in The A2 Milk Company Limited
(ASX:A2M) and Onemarket
(ASX:OMN) which listed yesterday.
Asian markets Japan’s Nikkei has added 0.3 per cent, Hong Kong’s Hang Seng has lost 0.2 per cent and the Shanghai Composite has lost 0.3 per cent.
Commodities and the dollar Gold is trading at $US1,299 an ounce.
One Australian dollar is buying 75.65 US cents.
CryptocurrenciesBitcoin is at US$7,508, Ethereum trades at US$579 and EOS is at US$12.27
