Consumer staples lead the sectors: ASX tracking 0.4% lower at noon

Market Reports

by Rachael Jones

The Australian share market took a dip at the open and is now tracking almost 0.4 per cent lower at noon. Northern Star Resources (ASX:NST) saw a rise in their shares today. Shares in Domain Holdings (ASX:DHG) took a dip.

The S&P/ASX 200 index

The S&P/ASX 200 index is 24 points down at 5,989. On the futures market the SPI is 12 points lower.

Broker moves

Credit Suisse rates Coca Cola Amatil (ASX:CCL) as a Downgrade to a Neutral from an Outperform. The broker observes that discounted water volumes have started to grow and the short-term impact of the renewed lockdown in Victoria. Target is lowered to $9.00 from $10.00. Coca Cola Amatil (ASX:CCL) are tracking 1.3 per cent lower at $8.65.

Company news

Sezzle (ASX:SZL) has made some key changes to its leadership team today with ., Executive Director and Chief Revenue Officer, Paul Paradis, promoted to the newly created role of President at Sezzle. In this new role, his responsibilities will expand beyond merchant acquisition to include a broader set of growth initiatives and operational endeavours. Longtime PayPal executive, Veronica Katz, has joined the Company as Chief Revenue Officer. She will be spearheading Sezzle’s business development efforts, with a particular focus on enterprise-level accounts. Shares in Sezzle (ASX:SZL) are 0.4 per cent higher at $5.09.

Best and worst performers

The best-performing sector is consumer staples gaining 1.2 per cent, while the worst performing sector is REITs losing at 1.6 per cent.

The best performing stock in the S&P/ASX 200 is Northern Star Resources (ASX:NST) rising 5.6 per cent to $14.72, followed by shares in Perseus Mining (ASX:PRU) and Perenti Global (ASX:PRN).

The worst performing stock in the S&P/ASX 200 is Domain Holdings (ASX:DHG) dropping 6.9 per cent to $3.24, followed by shares in Alumina (ASX:AWC) and Corporate Travel Management (ASX:CTD).

Commodities and the dollar

Gold is trading at US$1,792 an ounce.
Iron ore price is 1.7 per cent higher at US$103.01
Iron ore futures are suggesting a rise of 2.7 per cent.
One Australian dollar is buying 69.40US cents.

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