The Aussie share market is eyeing its third day of losses – now tracking 0.4 per cent lower at noon. With most of the sectors in the red and energy leading the drag. It comes as the oil price saw its biggest loss in four years, falling almost eight per cent after Trump announced a 10 per cent tariff on the remaining $300 billion of Chinese goods from September. The sector with the most gains is the property sector with the likes of the Goodman Group (ASX:GMG)
rising 2.8 per cent holding on to an almost eleven year highs that it hit in the beginning of July. Shares in Lynas (ASX:LYC)
rose today after a pleasing regulatory update from the Malaysian government.
The S&P/ASX 200 index is 30 points down at 6,759. On the futures market the SPI is 0.6 per cent lower.Local economic news
Final demand (excluding exports) rose 0.4% this quarter, due to: Petroleum refining and petroleum fuel manufacturing (+11.7%), Other transport equipment manufacturing (+5.3%) and Heavy and civil engineering construction (+0.5%).
Australian retail turnover rose 0.4 per cent in June 2019, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. This follows a 0.1 per cent rise in May 2019.Company news
Lynas Corporation (ASX:LYC)
is looking for locations for a Permanent Disposal Facility (PDF) for our water leach purification residue. It comes after the Malaysian Prime Minister Mahathir Mohamad suggested this is the compromise that will secure its licence to operate in the country beyond September 2.The status remains as set out in our Quarterly Report released on 29 July 2019. Shares in Lynas Corporation (ASX:LYC)
are up 6.1 per cent to $2.69.
now expects to report underlying EBITDA for FY19 in the range of $65-85 million and an underlying net loss after tax in the range of $70-90 million. This is from the ongoing disruption of international grain trade flows and Australian wheat markets to increase to $60-70 million (up from $40 million, reported on 18 April 2019). Shares in Graincorp (ASX:GNC)
are down 7.1 per cent to $7.98.Best and worst performers
The best-performing sector is REITs, adding 1.5 per cent, while the worst performing sector is Energy, shedding 2.5 per cent.
The best performing stock in the S&P/ASX 200 is Resolute Mining (ASX:RSG)
, rising 9.97 per cent to $1.85, followed by shares in Saracen Mineral Holdings (ASX:SAR)
and Evolution Mining (ASX:EVN)
The worst performing stock in the S&P/ASX 200 is Graincorp (ASX:GNC)
, dropping 7.1 per cent to $7.98, followed by shares in Fortescue Metals Group (ASX:FMG)
and Beach Energy (ASX:BPT)
Japan’s Nikkei has lost 2.2 per cent, Hong Kong’s Hang Seng has also shed 2.2 per cent and the Shanghai Composite has lost 1.7 per cent.Commodities and the dollar
Gold is trading at US$1,434 an ounce.
Iron ore price fell 1.3 per cent to US$ 115.68
Iron ore futures are pointing to a fall of 2.5 per cent.
One Australian dollar is buying 68.13 US cents.