The telcos sector led the gains today: ASX closed 0.9% lower

Market Reports

by Rachael Jones

Mid morning trade saw a drop for the Australian share market and it failed to recover. At the closing bell the S&P/ASX 200 index closed 61points lower, or 0.9 per cent lower to finish at 6,738.

Futures market

Dow futures are suggesting a rise of 27 points.
S&P 500 futures are eyeing a lift of 2 points.
The Nasdaq futures are eyeing fall of 19 points.
And the ASX200 futures are eyeing a 50 point fall tomorrow morning

Company news 

Santos (ASX:STO), as operator of the Barossa joint venture, today announced a final investment decision (FID) has been taken to proceed with the US$3.6 billion gas and condensate project,located offshore the Northern Territory. Barossa FID also kick-starts the US$600 million investment in the Darwin LNG life extension and pipeline tie-in projects, which will extend the facility life for around 20 years. The project represents the biggest investment in Australia’s oil and gas sector since 2012. Shares in Santos (ASX:STO) closed 1.1 per cent lower at $7.13.

AGL (ASX:AGL) plans to separate the company to create two energy businesses focused on executing distinct strategies - one part will be called “New AGL”, the second will be called “PrimeCo”.
The ACCC will not oppose the proposed acquisition of 86 400 Holdings by National Australia Bank (ASX:NAB).

Macmahon Holdings (ASX:MAH) has been selected to provide surface mining services for Anglo American’s Dawson Mine in Queensland at the Dawson South operations, from July 2021.


Mining exploration company Kincora Copper (ASX:KCC) started trading today. It issued shares at $0.20 and started trading on the ASX at $0.25 and closed trading at $0.24.

Best and worst performers of the day

The best performing sector was Communication Services, the only sector to make gains today adding 0.6 per cent while the worst performing sector was Materials lost 1.9 per cent.

The best performing stock in the S&P/ASX 200 was Spark New Zealand (ASX:SPK), rising 3.2 per cent to close at $4.15. Shares in Megaport (ASX:MP1) and Auckland International Airport (ASX:AIA) followed.

The worst performing stock in the S&P/ASX 200 was Pointsbet Holdings (ASX:PBH), dropping 9.3 per cent to close at $12.27. Shares in Resolute Mining (ASX:RSG) and Silver Lake Resources (ASX:SLR) followed.

Asian markets

Mixed: Japan’s Nikkei has lost 0.1 per cent, Hong Kong’s Hang Seng has added 1.2 per cent and the Shanghai Composite has gained 0.6 per cent.

Commodities and the dollar

Gold is trading at US$1,707 an ounce.
Iron ore price rose 0.1 per cent to US$166.97.
Its futures are pointing to a rise of 0.4 per cent.
Light crude is US$0.06lower at US$58.62 barrel.
One Australian dollar is buying 76.49 US cents.


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