Janus Henderson shares take a dive: ASX closed 0.4% lower

Market Reports

by Rachael Jones

After opening in the black the Australian share market struggled to gain ground this afternoon and tracked sideways to close 0.4 per cent lower. Fund manager Janus Henderson's (ASX:JHG) share price dropped today after the company revealed it had suffered about $14 billion worth of outflows in the last quarter. Downer EDI (ASX:DOW) saw their shares rise up after reports that their partner in the Murra Warra Wind Farm in Victoria, Senvion has filed self-administration proceedings in Germany. Total losses are expected to be $45 million. As for the sectors, Industrials led the way all day today with Materials behind.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 24 points lower to finish at 6.789. 

Futures market

Dow futures are suggesting a fall of 22 points.
S&P 500 futures are eyeing a dip of 4 points.
The Nasdaq futures are eyeing a fall of 11 points.
And the ASX200 futures are eyeing a 0.3 per cent fall tomorrow.

Economic news

The import price index rose 0.9 per cent this quarter and rose 2.8 per cent over the last twelve months, according to the Australian Bureau of Statistics.

Taking a look at the Performance of manufacturing from AiG the manufacturing sector moved back into expansion territory in July, with an Index score of 51.3. That’s up from 49.4 in June.

And there are early signs of a dwelling market recovery with price growth in positive territory for a second month in a row in both Sydney and Melbourne. Five of the eight capital cities recorded a subtle increase in property values over July.

Company news

The world's biggest dairy exporter Fonterra (ASX:FSF) saw milk production in June climb 13.9 per cent year-on-year in New Zealand. This is to do with mild weather conditions improving collection in the current season. Meanwhile, Australian monthly production continues to decline. Growth is softening in the EU and a small decline in the US. Shares in Fonterra (ASX:FSF) closed 0.6 per cent lower at $3.58.

Investment company and venture capital firm CVC (ASX:CVC) has appointed Mark Avery as Chief Executive Officer. Outgoing CEO Alexander Beard will help with Mark’s transition over the first quarter of the 2020 financial year. Shares in CVC (ASX:CVC) closed 4.5 per cent lower at $2.35.

Qantas (ASX:QAN) has agreed to not expand its stake in regional carrier Alliance Aviation while the ACCC investigates what the shareholding could mean for competition in the aviation industry. They spent $60 million to build a 19.9 per cent shareholding in Alliance.

Downer EDI (ASX:DOW) reports that their partner in the Murra Warra Wind Farm in Victoria, Senvion has filed self-administration proceedings in Germany. Total losses in relation to Downer’s obligation are expected to be $45 million before tax.

Dicker Data (ASX:DDR) has been appointed as a distributor for Nutanix for the Australian and New Zealand markets. Nutanix is a cloud computing software company based in the US.

Best and worst performers 

The best performing sector was Industrials adding 0.7 per cent while the worst performing sector was Materials shedding 1.5 per cent.

The best performing stock in the S&P/ASX 200 was Downer EDI (ASX:DOW), rising 3.5 per cent to close at $7.47. Shares in Pilbara Minerals (ASX:PLS) and Nufarm (ASX:NUF) followed higher.

The worst performing stock in the S&P/ASX 200 was Janus Henderson (ASX:JHG), dropping 12.2 per cent to close at $27.93. Shares in Northern Star Resources (ASX:NST) and Adelaide Brighton (ASX:ABC) followed lower.

Asian markets

Japan’s Nikkei has lost 0.02 per cent, Hong Kong’s Hang Seng has lost 0.8 per cent and the Shanghai Composite has lost 0.9 per cent.

Commodities and the dollar

Gold is trading at US$1,407 an ounce.
Iron ore price fell 2.1 per cent to US$117.15.
Iron ore futures are pointing to a fall of 2.9 per cent.
Light crude is US$0.16 down at US$57.89 a barrel.
One Australian dollar is buying 68.47US cents.

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