The Australian share market closed lower today with the energy sector dragging it down. Earlier President Trump announced the new tariffs on US$200 billion worth of Chinese goods to take effect on September 24. The news bringing down most sectors. Afterpay Touch (ASX:APT)
dropped 5 per cent. Although utilities did well today. Iron Ore is up 0.7 per cent to $68.14. At the closing bell the S&P/ASX 200 index closed 0.4 per cent lower that’s 24 points lower to finish at 6162.Futures market
Dow futures are suggesting a fall of 24 points.
S&P 500 futures are eyeing a rise of 1 point.
The Nasdaq futures are eyeing lift of 3 points.
And the ASX200 futures are eyeing a 9 point risetomorrow.Economic news
Residential property prices fell 0.7 per cent in the June quarter 2018, according to figures released today by the ABS. Sydney recorded the fourth consecutive quarter of falling property prices, with Melbourne not far behind with property prices fell 0.8 per cent.Company News
Infratil is reviewing the Statement released yesterday by Tilt Renewables (ASX:TLT)
in response to the full cash takeover offer made by New Zealand-based infrastructure investment company Infratil and Mercury NZ. An independent expert has valued Tilt at $2.56 to $3.01 per share with a midpoint of $2.79. Infratil’s Chief Executive says its clear that there are significant differences between Infratil’s view of a fair and reasonable offer price and the view of the Tilt Renewables independent directors. Infratil expects to respond comprehensively to the statement within the next week. Shares in Tilt Renewables (ASX:TLT)
closed 3.8 per cent higher at $2.21
US private equity giant, Blackstone has not ruled out upping its offer for Investa Office Fund (ASX:IOF)
despite rival bidder Oxford Properties Group obtaining a 19.99 per cent stake in the company. Blackstone says it still has the ability to increase its offer price above $5.52 per unit. Their latest offer is 8 cents more than Blackstone's.
is awarding $1000 one-off bonuses to all permanent team members after the company posted a 33 per cent increase in its net profit for the 2018 financial year.
Diagnostic imaging provider Capitol Health (ASX:CAJ)
has bought nine new clinics. They paid $17 million upfront on a cash and debt free basis with up to $3.3 million payable under earn-out to vendors over the first year of ownership. Capitol says the new clinics are expected to contribute $16.5 million in revenue and $3.1 million in earnings per annum.
and fleet manager P2P have announced a partnership to deliver one of the world's leading digital taxi top advertising solutions to the Australian market.
The $17 million deal will enable real-time and relevant advertising to be displayed on P2P vehicles as they move throughout Australia.Best and worst performers
The best performing sector was Utilities adding almost 1 per cent while the worst performing sector was energy shedding 1.5 per cent.
The best performing stock in the S&P/ASX 200 was Western Areas (ASX:WSA)
gaining 1.2 per cent to $2.49. Shares in Metcash (ASX:MTS)
, and Estia Health (ASX:EHE)
The worst performing stock in the S&P/ASX 200 was Afterpay Touch Group (ASX:APT)
,dropping 5.1 per cent to close at $15.94. Shares in Altium (ASX:ALU)
and Speedcast International (ASX:SDA)
followed lower.Asian markets
Mixed:Japan’s Nikkei has added 1.5 per cent, Hong Kong’s Hang Seng has added 0.8 per cent and the Shanghai Composite has lost 0.4 per cent.Commodities and the dollar
Gold is trading at US$1,200 an ounce.
Iron ore price rose 0.7 per cent to US$68.14. Its futures are pointing to a rise of 1.1 per cent.
Light crude is US$0.24 lower at US$68.53 barrel.
One Australian dollar is buying 72.18 US cents.Cryptocurrencies
Some of the most traded cryptocurrencies are trading lower Bitcoin has fallen 3 per cent to US$6297, Ethereum has fallen 9.8 per cent to US$198.