Back track on sentiment: Aus shares close 0.33% lower

Market Reports

by Jessica Amir

The Australian share market erased some of yesterday’s gains, shedding 0.3 per cent with the RBA’s view on the economy and some sectors including the Consumer Discretionary sector weighing on sentiment today.

Healthcare and Materials were the only two sectors which made gains, with some cannabis stocks getting a boost after they rallied on Wall Street overnight. As for the miners, the lithium players mustered up the most including Pilbara Minerals (ASX:PLS), while Rio (ASX:RIO) led the heavyweights higher after announcing details of its buyback.

At the closing bell the S&P/ASX 200 index closed 21 points lower, or 0.3 per cent lower, to finish at 6,170.

Futures market

Dow futures are suggesting a rise of 5 points.
S&P 500 futures are eyeing a dip of 2 points.
The Nasdaq futures are eyeing fall of 11 points.
And the ASX200 futures are eyeing a 23 point rise tomorrow.

Company news

Shares in Northern Star Resources (ASX:NST) closed 5.8 per cent higher at $8.98 after presenting to JP Morgan Chase.

Global miner Rio Tinto (ASX:RIO) released information about its $4.41 billion buyback. Proceeds from its coking coal divestment will be used to fund the buyback.

Washington H. Soul Pattinson and Company (ASX:SOL) reported its net profit after tax (NPAT) fell 20 per cent on the prior corresponding period to $266.8 million for the full year.

Building material company that rivals Boral (ASX:BLD) and CSR, Brickworks (ASX:BKW) reported a 6 per cent fall in its net profit after tax to $175.4 million, for the financial year ending 31 July 2018. It comes after the business was impacted by a $7.1 million significant item in restructuring and commissioning costs for its building products business. 

Best and worst performers of the day

The best performing sector was Healthcare adding 1.4 per cent while the worst performing sector was Industrials, shedding 1.6 per cent.

The best performing stock in the S&P/ASX 200 was Pilbara Minerals (ASX:PLS), rising 6.9 per cent to close at $0.85. Shares in Evolution Mining (ASX:EVN) and Regis Resources (ASX:RRL) followed higher.

The worst performing stock in the S&P/ASX 200 was Washington H Soul Pattison and Company (ASX:SOL), dropping 6.3 per cent to close at $24.04. Shares in Vocus Group (ASX:VOC) and Brickworks (ASX:BKW) followed lower.

Asian markets

Higher. Japan’s Nikkei has added 0.2 per cent, Hong Kong’s Hang Seng has added 0.2 per cent and the Shanghai Composite has gained 0.1 per cent.

Commodities and the dollar

Gold is trading at US$1,205 an ounce.
Iron ore price fell 0.5 per cent to US$69.46. Its futures are pointing to a fall of 1.2 per cent.
Light crude is US$1.43 up at US$71.02 barrel.
One Australian dollar is buying 72.58 US cents.

Cryptocurrencies

Bitcoin has gained 0.8 per cent to US$6,409, Ethereum has fallen 1.5 per cent to US$209 and EOS has gained 2 per cent to US$5.22, in the last 24 hours.