The Australian share market has sunk into negative territory this morning. The S&P/ASX 200 is 1.4 per cent or 102 points lower at 7239.40. The SPI futures are pointing to a fall of 111 points.
All sectors are in the red, although the sector with fewest losses is Utilities, down 0.4 per cent. Information Technology has been the worst-performing sector, down 3.7 per cent.
Zip Co
(ASX:Z1P) was weighing down the Technology sector, down 5.7 per cent, with Xero
(ASX:XRO) also down 2.3 per cent. Afterpay
(ASX:APT) is down 5.9 per cent as the worst-performing stock.
Viva Energy Group
(ASX:VEA) is up 4.6 per cent as the best-performing stock following the release of its operational update and 1H2021 guidance.
Banks are on struggle street this morning. The Commonwealth
(ASX:CBA) is down 1.5 per cent, followed by Westpac
(ASX:WBC) down 1.2 per cent, NAB
(ASX:NAB) down 1.1 per cent and ANZ
(ASX:ANZ) down 1 per cent.
Retail giant Woolworths
(ASX:WOW) is down 2 per cent, while bio tech company CSL
(ASX:CSL) is down 1.24 per cent. Westfarmers
(ASX:WES) are also trading 2.1 per cent lower.
Investment company Rural Funds Group
(ASX:RFF) made headlines this morning, trading 2.3 per cent lower following announcement of completion of the company's institutional entitlement offer. Mining company Challenger Exploration
(ASX:CEL) also got a mention, down 1.69 per cent following news it will enter into agreements to acquire 100% of the Hualilan Gold project.
NSW has recorded 44 new COVID-19 cases and will tighten its restrictions. Both Victoria and Queensland recorded no new COVID-19 cases.
Company newsMining company Challenger Exploration (ASX: CEL) has announced it has entered into binding agreements to shift to 100% ownership of their Hualilan Gold Project in San Juan Argentina. The company aims to employ local people and integrate with their community. The Hualilan Project is located in a Tier 1 jurisdiction. The project consists of 15 mining leases and an exploration licence application covering the surrounding 26km.
Rural Funds Group
(ASX:RFF) has announced the completion of its institutional entitlement offer, raising $30 million at $2.47 per share on 8 July 2021. RFF is a real estate investment trust that owns a portfolio of agricultural assets. Rural Funds will now push ahead with the retail component of the entitlement offer to raise approximately $70 million, taking the total size of the entitlement offer to approximately $100 million.
Best and worst performersAll sectors are in the red. The sector with the fewest losses is Utilities, down 0.04 per cent. The worst-performing sector is Information Technology, down 3.69 per cent.
The best-performing stock in the S&P/ASX 200 is Viva Energy Group
(ASX:VEA), trading 4.06 per cent higher at $2.05. It is followed by shares in Ampol
(ASX:ALD) and Worley
(ASX:WOR).
The worst-performing stock in the S&P/ASX 200 is Afterpay
(ASX:APT), trading 5.90 per cent lower at $116.35. It is followed by shares in CSR
(ASX:CSR) and Zip Co
(ASX:Z1P).
Commodities and the dollarGold is trading at US$1806.44 an ounce.
Iron ore is 2.0 per cent lower at US$218.04 a ton.
Iron ore futures are pointing to a fall of 2.7 per cent.
One Australian dollar is buying 74.13 US cents.
