The Australian share market lost 0.5 per cent today erasing two days of gains. Woolworths (ASX:WOW)
shares hit a new 5.5 year high, Santos (ASX:STO)
shares hit a four year high, and JB Hi-Fi (ASX:JBH)
hit a new all time high yesterday, losing a touch of momentum today, falling 0.2 per cent.
From the get go we had mostly positive leads with the Dow Jones posting a four-day winning streak amid trade optimism. While during the day today we learnt the UK leader Boris Johnson lost a second bid to hold an early election.
At the closing bell the S&P/ASX 200 index closed 0.5 per cent or 35 points lower to finish at 6,614.Futures market
Dow futures are suggesting a fall of 20 points.
S&P 500 futures are eyeing a dip of 5 points.
The Nasdaq futures are eyeing a fall of 21 points.
And the ASX200 futures are eyeing a 0.5 per cent or 36 point fall.Company news
Bega Cheese (ASX:BGA)
has appointed Patria Mann as a non-executive director. She has 16 years of years of experience with ASX listed companies in the consumer staples sector. Patria is a qualified Chartered Accountant and was a Partner at KPMG. Shares in Bega Cheese (ASX:BGA)
closed 1 per cent higher at $4.20.
shares gained 0.6 per cent, rising for the fifth straight, session, and today it successfully completed its recent SPP and placement, which will result in a total of approximately $784 million raised. With the proceeds, AMP says it will begin investing in its strategy immediately whilst maintaining a strong balance sheet.
shares gained 2.2 per cent today, hitting a new month high. Today it released an announcement showing that Alcoa Corporation is to streamline its executive team from 12 to seven, who directly report to the CEO, implementing a new operating model from November 1, 2019.
AP Eagers (ASX:APE)
shares are trading at an all-time high, today it gained 1 per cent, after it executed binding agreements with the Tony White Group for the sale of the Kloster Motor Group (KMG) in the Newcastle and Hunter Valley region for $54 million. At the same time, The AHG (ASX:AHG)
board unanimously recommends shareholders accept the unconditional takeover for 1 APE share for every 3.6 AHG shares.Best and worst performers of the day
The best performing sector was S&P/ASX Energy adding 2.4 per cent followed by Financials, while the worst performing sector was S&P/ASX Info Tech, gaining 3.1 per cent.
The best performing stock in the S&P/ASX 200 was Whitehaven Coal Limited (ASX:WHC)
, rising 5 per cent to close at $3.36. Shares in Santos Limited (ASX:STO)
and CYBG (ASX:CYB)
The worst performing stock in the S&P/ASX 200 was Wisetech Global Limited (ASX:WTC)
, dropping 6.9 per cent to close at $35.73. Shares in Appen Limited (ASX:APX)
and Clinuvel Pharmaceuticals Limited (ASX:CUV)
followed lower.Asian markets
Japan’s Nikkei has gained 0.2 cent, Hong Kong’s Hang Seng has added 0.02 per cent and the Shanghai Composite has lost 0.2 per cent.Commodities and the dollar
Gold is trading at US$1,490 an ounce.
Iron ore price rose 4.4 per cent to US$92.97
Iron ore futures are pointing to a rise of 2.3 per cent.
Light crude is US$1.53 up at US$58.05 a barrel.
One Australian dollar is buying 68.55 US cents.