It has been a negative day of trade for the Australian share market after a drop at the open the local bourse closed 0.8 per cent lower. Shares in Avita Therapeutics (ASX:AVH)
fell over 7 per cent, Ramelius Resources (ASX:RMS)
followed close behind and shares in Nufarm dropped 6 per cent. As for the sectors today, they all closed in the red with industrials leading the pack.The S&P/ASX200 index
At the closing bell the S&P/ASX 200 index closed 48 points lower to finish at 5,876.Futures market
Dow futures are suggesting a fall of 83 points.
S&P 500 futures are eyeing a dip of 12 points.
The Nasdaq futures are eyeing a fall of 64 points.
And the ASX200 futures are eyeing a 51 point fall tomorrow morning.Local economic news
Australian National Accounts: Finance and Wealth show household wealth recovered in June quarter to $165.1b a 1.5 per cent rise
Payroll jobs 4.5 per cent lower than mid-March
Almost two-thirds (64%) of all businesses reported that they were operating under modified conditions due to Covid-19 in September 2020. This compares to almost three-quarters (73%) of all businesses that were operating under modified conditions in June 2020.
Australia’s population grew 1.4 per cent over the year.Company news
The Westpac Group (ASX:WBC)
has reached an agreement with AUSTRAC and resolved to pay a $1.3 billion fine for breaching anti-laundering laws. As part of the agreement, Westpac admitted contraventions of the Anti-Money Laundering and Counter-Terrorism and Financing Act 2006. Shares in the Westpac Group (ASX:WBC)
closed 0.1 per cent lower at $16.37.
Washington H. Soul Pattinson and Company (ASX:SOL)
report a regular net profit after tax of $169.8 million for the year, down 45 per cent on the previous corresponding period. Dividends have grown at a compound annual growth rate of 9.2 per cent for 20 years.
Iron Road (ASX:IRD)
reports that Macquarie Capital (part of Macquarie Group, ASX:MQG) has entered into a Joint Development Agreement (JDA) with Iron Road and Eyre Peninsula Co-operative Bulk Handling. The JDA provides the framework to advance development and financing plans for the proposed $250 million Cape Hardy Stage I port facility.Best and worst performers of the day
The best performing sector was industrials with the fewest losses losing 0.1 per cent while the worst performing sector was Information Technology, shedding 2.7 per cent.
The best performing stock in the S&P/ASX 200 was Abacus Property Group (ASX:ABP)
, rising 3.6per cent to close $2.87. Shares in Mirvac Group (ASX:MGR)
and Janus Henderson Group (ASX:JHG)
The worst performing stock in the S&P/ASX 200 was Avita Therapeutics (ASX:AVH)
, dropping 7.2 per cent to close at $6.96. Shares in Ramelius Resources (ASX:RMS)
and Nufarm (ASX:NUF)
Mixed: Japan’s Nikkei has lost 1.1 per cent, Hong Kong’s Hang Seng has lost 1.7 per cent and the Shanghai Composite has gained 0.2 per cent.Commodities and the dollar
Gold is trading at US$1,853 an ounce.
Iron ore price is 3 per cent down at US$113.81
Iron ore futures are pointing to a rise of 0.9 per cent.
Light crude is US$0.36 lower at US$39.86 a barrel.
One Australian dollar is buying 70.35US cents.