The Australian sharemarket advanced at the open to notch an all-time intraday high of 7203, breaking into the 7200s region for the first time ever. The optimistic start however did not set the tone for the market’s broad-based movements, as the ASX200 fluctuated up and down in morning trade.
Volatility also defined the session for BHP (ASX:BHP)
and Commonwealth Bank (ASX:CBA)
, as the firms clawed back early gains to descend into the sell zone. All of the big four banks were tracking in negative territory.
Commodity-focused stocks painted a mixed picture, as the oil price contradicted a hike in gold prices. Energy stocks were the biggest laggards on the broad market, as shares in Origin (ASX:ORG)
and AGL (ASX:AGL)
shed almost 2 per cent and 1.1 per cent by midday.
At noon, the S&P/ASX 200 is 0.11 per cent or 8.10 points lower at 7171.40. The SPI futures are pointing to a rise of 1 point.Best and worst performers
The best performing sector is Health Care, up 0.85 per cent. The worst performing sector is Energy, down 1.58 per cent.
The best-performing stock in the S&P/ASX 200 is Resolute Mining (ASX:RSG)
, trading 5.13 per cent higher at $0.61. It is followed by shares in Domino Pizza Enterprises (ASX:DMP)
and Costa Group Holdings (ASX:CGC)
The worst-performing stock in the S&P/ASX 200 is Nuix (ASX:NXL)
, trading 18.40 per cent lower at $2.75. It is followed by shares in Link Administration Holdings (ASX:LNK)
and Pendal Group (ASX:PDL)
.Commodities and the dollar
Gold is trading at US$1907.99 an ounce.
Iron ore is 0.4 per cent higher at US$190.51 a ton.
Iron ore futures are pointing to a rise of 4.85 per cent.
One Australian dollar is buying 77.23 US cents.