Strong trading in Telstra: Aus shares 0.1% lower at noon

Market Reports

by Adrian Tan

After rising in the morning session, the ASX reversed course, reaching a low point around midday. Strong trading has been seen in Telstra Corporation (ASX:TLS), trading 2.4 per cent higher, the A2 Milk Company (ASX:A2M), trading 11.1 per cent lower, South32 (ASX:S32), trading 0.5 per cent lower and Pilbara Minerals (ASX:PLS), trading 2.7 per cent lower.

At noon, the S&P/ASX 200 is 0.14 per cent or 11 points lower at 7,433.

The SPI futures are pointing to a fall of 20 points.

Best and worst performers

The best-performing sector is Communication Services, up 0.8 per cent. The worst-performing sector is Consumer Staples, down 1.9 per cent.

The best-performing stock in the S&P/ASX 200 is Reliance Worldwide (ASX:RWC), trading 4.7 per cent higher at $5.45. It is followed by shares in Netwealth Group (ASX:NWL) and Uniti Group (ASX:UWL).

The worst-performing stock in the S&P/ASX 200 is The A2 Milk Company (ASX:A2M), trading 11.2 per cent lower at $6.08. It is followed by shares in Codan (ASX:CDA) and Regis Resources (ASX:RRL).

Commodities and the dollar

Gold is trading at US$1789.93 an ounce.
Iron ore is 2.7 per cent higher at US$122.30 a ton.
Iron ore futures are pointing to a fall of 1.8 per cent.
One Australian dollar is buying 75.23 US cents.

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