The Australian share market closed 0.3 per cent lower at the end of trade and the Australian dollar continued to fall, slipping below 66 US cents, its lowest since the GFC. NRW Holdings (ASX:NWH) shares led the gains for the entire session - surging after the company reported a significant rise in revenues, earnings and profits in the first half of FY20 despite last months mining tragedy. Viva Energy Group (ASX:VEA) was also in the top 5 following confirmation the company sold a stake in its petrol station property trust. As for the worst performers, New Hope’s (ASX:NHC) share price plummeted following speculation that Mitsubishi Materials Corporation had offloaded its stake in the company. And Investors have also been selling their shares in Mayne Pharma Group (ASX: MYX) after the pharmaceutical company’s disappointing half year result. At the end of trade, Financials was the only sector to make gains and Consumer Discretionary came in last.
The S&P/ASX200 index
At the closing bell the S&P/ASX 200 index closed 24 points lower to finish at 7,139.
Futures market - all are in the red.
Dow futures are suggesting a loss of 77 points.
S&P 500 futures are eyeing a loss of 13 points.
The Nasdaq futures are also eyeing a fall of 49 points.
And the ASX200 futures are eyeing a 21 point fall on Monday morning.
UBS has rated Super Retail Group (ASX:SUL) as a Buy. The broker says Super Retail's result was a little better than a recent downgrade suggested. BCF again dragged, with 37% of stores impacted by bushfires, leading to a trimming of earnings forecasts. It's been a challenging year but the broker notes the company is favorably exposed to an improving consumer, has a clear strategy and is attractive on valuation. Shares in Super Retail Group (ASX:SUL) closed 0.6 per cent higher at $12.70.
Domino's Pizza (ASX:DMP) has increased the number of Non-Executive directors from five to six. Doreen Huber has been appointed as a Non-Executive Director of the company. Ms Huber was the founder and CEO of Lemoncat, the largest online catering platform in Germany which was sold in 2019. Chairman Jack Cowin said the appointment reflected the company’s future with more than 80 per cent of the company’s future growth over the next decade being offshore with a focus within Europe. Shares in Domino's Pizza Enterprises (ASX:DMP) closed 3 per cent lower at $62.78.
Looking at some more headlines:
Fisher & Paykel Healthcare (ASX:FPH) update revenue and earnings on strong sales.
Viva Energy (ASX:VEA) sells stake in its petrol station property trust.
Orocobre (ASX:ORE) see underlying net loss after tax of US$9.9 million.
Best and worst performers of the day
The best performing sector and the only one that made gains today was Financials adding 0.5 per cent while the worst performing sector was Consumer Discretionary, shedding 1.3 per cent.
The best performing stock in the S&P/ASX 200 was NRW Holdings (ASX:NWH), rising 7.1 per cent to $3.18, followed by shares in Viva Energy Group (ASX:VEA) and Boral (ASX:BLD).
The worst performing stock in the S&P/ASX 200 today was New Hope (ASX:NHC), dropping 14.3 per cent to close at $1.59. Shares in Sandfire Resources (ASX:SFR) and Mayne Pharma (ASX:MYX) followed lower.
Mixed: Japan’s Nikkei has lost 0.1 per cent, Hong Kong’s Hang Seng has shed 0.6 per cent and the Shanghai Composite has added 0.7 per cent.
Commodities and the dollar
Gold is trading at US$1,626 an ounce.
Iron ore price is 2.2 per cent higher at US$92.01.
Iron ore futures are eyeing a rise of 2.1 per cent.
Light crude is 15 cents lower at US$53.73 a barrel.
One Australian dollar is buying 66.04 US cents.