Retail turnover fell 1.1% in September: ASX is tracking 0.9% lower at noon

Market Reports

by Rachael Jones

The Australian share market is on the decline and is now tracking 0.9 per cent lower at noon. The financial sector helped push the market lower this morning with shares in the big four banks all down. Industrials is the only sector in the black.

The S&P/ASX 200 index 

The S&P/ASX 200 index is 57 points down at 6,010. On the futures market the SPI is suggesting a fall of 68 points.

Local economic news

Australian retail turnover fell 1.1 per cent in September 2020, seasonally adjusted, according to the Australian Bureau of Statistics (ABS) Retail Trade figures. This updates the Preliminary result of -1.5 per cent, and follows a fall of 4.0 per cent in August.

Company news

Coca-Cola Amatil (ASX:CCL) has entered into a scheme implementation deed with Coca-Cola European Partners for the acquisition of all of the issued shares held by independent shareholders of Amatil. If the Scheme is implemented, Independent Shareholders will receive total cash consideration of $12.75 per share less any final dividend in respect of 2H20 declared and paid to Amatil shareholders before the date of implementation of any Scheme. Shares in Coca-Cola Amatil (ASX:CCL) are 0.7 per cent higher at $12.55.

Best and worst performers

The best-performing sector is Industrials adding 0.6 per cent, while the worst performing sector is Financials shedding 1.5 per cent.

The best performing stock in the S&P/ASX 200 is Nanosonics (ASX:NAN) rising 8.4 per cent to $5.55, followed by shares in Graincorp (ASX:GNC) and Sandfire Resources (ASX:SFR).

The worst performing stock in the S&P/ASX 200 is Pendal Group (ASX:PDL) dropping 8.3 per cent to $6.32, followed by shares in Fortescue Metals Group(ASX:FMG) and Netwealth (ASX:NWL).

Commodities and the dollar

Gold is trading at US$1,905 an ounce.
The iron ore price 0.8 per cent lower at $117.09.
It’s futures are pointing to a rise of 0.1 per cent.
One Australian dollar is buying 71.58US cents.