Whitehaven (ASX:WHC) shareholders forced to respond to climate change concerns: Aus shares close 0.3% lower

Market Reports

by Katrina Bullock

The Australian share market ended the session 0.3 per cent lower than it started out.

At the closing bell the S&P/ASX 200 index closed 19 points lower to finish at 5,865.

Over the week however, the market has gained 5 points or 0.1 per cent, stumbling just above the line after four consecutive weeks of weekly losses.

Futures market

Dow futures are suggesting a fall of 32 points.
S&P 500 futures are eyeing a slight rise of 0.3 points.
The Nasdaq futures are eyeing a lift of 49 points.
And the ASX200 futures are eyeing a 3 point fall on Monday morning.

Company news

Qantas (ASX:QAN) has released its 2020 annual report. The airline recorded a net loss of $1.96 billion, a catastrophic drop from last year's $840 million profit. Qantas chief executive Alan Joyce saw his pay packet fall to$1.7 million in the 2020 financial year, down from $9.9 million the previous year. This follows a hard 6 months of job losses within the company and a decline of over 30 per cent in the company’s share price. Shares in Qantas (ASX:QAN) closed 0.5 per cent higher at $3.98

Market Forces has put forth a resolution to the shareholders of Whitehaven Coal (ASX:WHC) calling for the coal giant to produce a plan that demonstrates how the miner will wind up its production assets and operations in a manner consistent with the Paris Agreement. This comes on the heels of a class action launched in the Federal Court against the Environment Minister which argues against Whitehaven Coal’s (ASX:WHC) proposed extension of the Vickery Coal Mine north of Gunnedah on the basis that the Environment Minister has a duty to protect vulnerable people including future generations from exposure to climate-change related risks. Shares in Whitehaven Coal (ASX:WHC) closed 2.3 per cent higher at $0.89.

QuickFee (ASX:QFE) has successfully completed its $15 million institutional placement.

Gold and base metals explorer Anglo Australian Resources (ASX:AAR) has received firm commitments for an $11 million single-tranche placement.

Following the retirement of John McMurtrie, Vivek Bhatia was appointed as Managing Director and CEO of Administration Link Holdings (ASX:LNK).

Mining services company Emeco Holdings (ASX:EHL) has successfully completed a $38 million retail entitlement offer.

IPOs

SRJ Technologies Group (ASX:SRJ) listed today. SRJ develops and distributes weld-free coupling and leak containment solutions for pipelines. It issued shares at $0.50, started trading on the ASX at $0.78 and is currently trading at $0.80.

Best and worst performers of the day

The best-performing sector was Information Technology, adding 1.3 per cent, while the worst-performing sector was Industrials, shedding 1.7 per cent.

The best-performing stock in the S&P/ASX 200 was CSR (ASX:CSR), rising 4.8 per cent to close at $4.13. Shares in Saracen Mineral Holdings (ASX:SAR) and Orocobre (ASX:ORE) followed.

The worst-performing stock in the S&P/ASX 200 was Unibail-Rodamco-Westfield (ASX:URW), dropping 7.3 per cent to close at $2.80. Shares in Abacus Property Group (ASX:ABP) and Virgin Money UK (ASX:VUK) followed.

Asian markets

Japan’s Nikkei has gained 0.1 per cent, Hong Kong’s Hang Seng has gained 0.4 per cent and the Shanghai Composite has gained 1.5 per cent.

Wall Street 

Wrapped up our four trading days this week higher: The Dow Jones added 0.9 per cent, The S&P 500 added 0.5 per cent and the tech heavy Nasdaq gained 0.5 per cent.

Commodities and the dollar

Gold is trading at US$1,954 an ounce.
Iron ore price is 1.5 per cent down at US$122.36.
Iron ore futures are pointing to a rise of 1 per cent.
Light crude is US$0.29 higher at US$41.82 a barrel.
One Australian dollar is buying 73.18 US cents.