Afterpay shares higher after AUSTRAC update: ASX tracking 0.6% lower

Market Reports

by Rachael Jones

The Australian share market dropped at the open and continues to shuffle along, tracking 0.6 per cent lower at noon. Afterpay Touch Group (ASX:APT) shares have shot up today after they updated the market in relation to their Anti-Money Laundering and Counter-Terrorism Financing matters by providing an interim report to AUSTRAC. Clinuvel Pharmaceuticals (ASX:CUV), dropped 6 per cent. The Information technology is leading the way and the Energy sector trailing behind in the first two hours of trade.

The S&P/ASX 200 index is 41 points down at 6,708. On the futures market the SPI is 44 points lower or 0.65 per cent lower.

Company news

Strike Energy (ASX:STX) reports Neville (Nev) Power has been appointed as a Non-Executive Director and Deputy Chairman of the company. He brings substantial recent experience from his role as CEO of Fortescue Metals Group. His expertise will be highly valuable as Strike begins commercialising its major gas discovery in the Perth Basin. Shares in Strike Energy (ASX:STX) is 1 per cent higher at $0.25.

AusNet Services (ASX:AST) says Richard Harris has tendered his resignation as Company Secretary effective from next month. He is leaving his position to pursue another career opportunity. Shares in AusNet Services (ASX:AST) is 0.9 higher at $1.78.

Retail Food Group (ASX:RFG) confirms that it is currently meeting with investors in relation to a potential equity raising. Discussions are continuing with Soliton in relation to its proposal. No decision has been made by the Board at this time. Retail Food Group (ASX:RFG) Shares in Retail Food Group (ASX:RFG) is 5.4 per cent lower at $0.18.

Best and worst performers

The best-performing sector is Information technology, adding 0.8 per cent, while the worst performing sector is Energy, shedding 1.3 per cent.

The best performing stock in the S&P/ASX 200 is Afterpay Touch Group (ASX:APT), rising 11.8 per cent to $35.53, followed by shares in Sandfire Resources (ASX:SFR) and Bravura (ASX:BVS).

The worst performing stock in the S&P/ASX 200 is Clinuvel Pharmaceuticals (ASX:CUV), dropping 6 per cent to $24.50, followed by shares in Pro Medicus (ASX:PME) and Magellan Financial Group (ASX:MFG).

Asian markets

Japan’s Nikkei has lost 0.7 per cent, Hong Kong’s Hang Seng has shed 0.9 per cent and the Shanghai Composite has lost 0.5 per cent.

Commodities and the dollar

Gold is trading at US$1,530 an ounce.
Iron ore price fell 3.5 per cent to US$90.83
Iron ore futures are pointing to a fall of 1.9 per cent.
One Australian dollar is buying 67.88 US cents.