The Australian share market erased the last two trading sessions of gains falling 1.2 per cent, ending its five straight sessions of gains, after it closed near the all-time high last week.
It comes as US stocks retreated from their record closes on the back of a stronger than expected jobs (non-farm payrolls). So now global investors are reassessing what the Federal Reserve will do at its next meeting, with the fresh data reducing chances of a Fed rate cut at the end of July. US government bonds surged, gold rallied, and the US dollar neared a three-week high earlier.
At the closing bell the S&P/ASX 200 index closed 1.2 per cent or 79 points lower to finish at 6,672.
Futures marketDow futures are suggesting a fall of 81 points.
S&P 500 futures are eyeing a dip of 9 points.
The Nasdaq futures are eyeing a fall of 34 points.
And the ASX200 futures are eyeing a 72 point fall
Company news Huon Aquaculture Group
(ASX:HUO) now has the ability to grow larger salmon on land after its production trials at its Salmon Nursery returned the biggest on-land hatchery-grown salmon in the southern hemisphere. The salmon are being transferred to sea, where they’ll need 30 to 40 per cent less time to grow to harvest weights (5-6 kgs). As a result of the new production trial, it will cut the time that fish are at sea from 14 months to 9 to 10 months. It will also boost its production capability and drop the risk of mortality. Huon Aquaculture Group
(ASX:HUO) shares closed 0.9 per cent higher at $4.74.
Evans Dixon
(ASX:ED1) has announced the Peter Anderson has been hired as its new Chief Executive Officer. He has been an independent non-executive director since April 2019. David Evans had been acting as interim CEO and will now return to position as Executive Chairman.
Vista Group International
(ASX:VGL) has appointed finance exec, Matthew Cawte as its new Group Chief Financial Officer. He previously worked as CFO at software as a service company Biomatters and for NZ listed, Wellington Drive Technologies (NZX:WDT)
Breast cancer detection company, Volpara
(ASX:VHT) entered into an agreement to sell ScreenPoint Medical’s computer-aided detection software. It could generate US$10 million from breast imaging clinics, while also optimising early detection, reducing radiologist liability and risk and cutting screen costs.
Best and worst performers of the dayThe best performing sector was S&P/ASX Consumer Discretionary losing 0.3 per cent while the worst performing sector was S&P/ASX A-REIT, shedding 2.4 per cent, followed by Utilities losing 2.1 per cent.
The best performing stock in the S&P/ASX 200 was Speedcast International
(ASX:SDA), rising 6.4 per cent to close at $1.92. Shares in Costa Group Holdings Limited
(ASX:CGC) and Clinuvel Pharmaceuticals Limited
(ASX:CUV) followed higher.
The worst performing stock in the S&P/ASX 200 was G8 Education Limited
(ASX:GEM), dropping 9.8 per cent to close at $2.77. Shares in Eclipx Group
(ASX:ECX) and HUB24
(ASX:HUB) followed lower.
Asian marketsJapan’s Nikkei has lost 1 per cent, Hong Kong’s Hang Seng has shed 1.7 per cent and the Shanghai Composite has lost 2.4 per cent.
Commodities and the dollar Gold is trading at US$1,403 an ounce.
Iron ore price fell 5.9 per cent to US$114.81
Iron ore futures are pointing to a rise of 1.2 per cent.
Light crude is US$0.60 up at US$57.51 a barrel.
One Australian dollar is buying 69.86 US cents.
