Sandfire (ASX:SFR) makes record copper shipment: Aus shares close 1.1% lower

Market Reports

by Katrina Bullock

The ASX200 opened slightly higher and dropped throughout the day to end 1.1 per cent lower. All of the sectors ended lower except Health Care and Real Estate. Energy lost almost 3 per cent. The a2 Milk Company (ASX:A2M) rose almost 5 per cent today after Morgan Stanley upgraded the company to overweight.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 70 points lower to finish at almost 6,600.

Futures market

Dow futures are suggesting a fall of 128 points.
S&P 500 futures are eyeing a dip of 16 points.
The Nasdaq futures are eyeing a fall of 15 points.
And the ASX200 futures are eyeing a 68 point fall tomorrow morning.

Company news

Sandfire Resources (ASX:SFR) has completed its largest-ever single shipment of copper concentrate from its DeGrussa operations in Western Australia. The shipment comprising 23,000 wet metric tonnes of copper concentrate is valued at over $52 million. Its bound for refining at smelters in Europe. Sandfire’s Managing Director and CEO, Karl Simich says “Europe and China are both currently investing heavily in incentivising Electric Vehicles, which underpins a buoyant demand outlook for copper over the medium and long-term”. Shares in Sandfire Resources (ASX:SFR) closed 1.8 per cent lower at $5.37

The New Zealand Overseas Investment Office has approved Charter Hall WALE REIT’s (ASX:CLW) acquisition of an interest in the bp New Zealand Portfolio. The portfolio includes 70 Long WALE triple net leased convenience retail properties leased to bp and is expected to settle today. Shares in Charter Hall WALE REIT (ASX:CLW) closed 0.4 per cent higher at $4.66.

Syrah Resources (ASX:SYR) has signed an agreement with Solar Century Africa to progress a solar and battery storage hybrid power system in Mozambique.

Personal hygiene company, Asaleo Care (ASX:AHY) has penned an agreement to buy TOM Organic for $12.75 million.

Biotech company, Volpara Health Technologies (ASX:VHT) has signed a 5 year software-as-a-service agreement with BreastScreen Queensland.

Oil and gas explorer, Strike Energy (ASX:STX) has received $8 million in deferred Research and Development refunds.

Unibail-Rodamco-Westfield (ASX:URW) has penned agreements with multiple French institutional investors to sell Parisian Village 3, Village 4 and Village 6 office buildings for €213 million.

Best and worst performers of the day

The best performing sector was Real Estate adding 0.5 per cent while the worst performing sector was Energy, shedding 2.8 per cent.

The best performing stock in the S&P/ASX 200 was a2 Milk company (ASX:A2M), rising almost 5 per cent to close at $10.77. Shares in Netwealth Group (ASX:NWL) and Vocus Group (ASX:VOC) followed higher.

The worst performing stock in the S&P/ASX 200 was Silver Lake Resources (ASX:SLR), dropping 6.8 per cent to close at $1.79. Shares in Remelius Resources (ASX:RMS) and Service Stream (ASX:SSM) followed lower.

Asian markets

Lower: Japan’s Nikkei has lost 0.8 per cent, Hong Kong’s Hang Seng has shed 0.4 per cent and the Shanghai Composite has dropped 0.3 per cent.

Commodities and the dollar

Gold is trading at US$1,879 an ounce.
Iron ore price rose 7.3 per cent to US$176.45.
Iron ore futures are pointing to a rise of 0.8 per cent.
Light crude is US$0.46 lower at US$46.91 a barrel.
One Australian dollar is buying 75.62 US cents.