Aus shares down 0.85%

Market Reports

by Lauren Evans

The Australian sharemarket has been in negative territory this morning, dropping lower than expected. Japans Nikkei has fallen almost 1 per cent as Asia Pacific markets also dipped in the red. 

At noon, all 11 sectors were on a downwards trend. Energy and Utilities were among the worst-performing sectors, along with Real Estate. Viva Energy Group (ASX:VEA) dropped by 2.98 per cent and APA Group (ASX:APA) dropped by 2.80 per cent.

Consumer Staples and Health Care have also dropped since yesterday's strong performance, despite the A2 Milk Company (ASX:A2M) edging 0.73 per cent higher at noon.

On the banking front, all four banks crept lower during morning trade, with NAB (ASX:NAB) leading the pack, dropping nearly 1 per cent. Despite the decline, Information Technology was the best-performing sector, with Afterpay (ASX:APT) in positive territory. 

At noon, the S&P/ASX 200 is 0.85 per cent or 62.30 points lower at 7245.00. The SPI futures are pointing to a fall of 38 points.

Best and worst performers

The best-performing sector is Information Technology, up 0.07 per cent. The worst-performing sector is Real Estate Investment Trusts, down 1.68 per cent.

The best-performing stock in the S&P/ASX 200 is Metcash (ASX:MTS), trading 4.20 per cent higher at $3.85. It is followed by shares in Nuix (ASX:NXL) and Lynas Rare Earths (ASX:LYC).

The worst-performing stock in the S&P/ASX 200 is Unibail-Rodamco-Westfield (ASX:URW), trading 4.69 per cent lower at $5.89. It is followed by shares in Vicinity Centres (ASX:VCX) and Abacus Property Group (ASX:ABP).

Commodities and the dollar

Gold is trading at US$1775.57 an ounce.
Iron ore is 1.00 per cent higher at US$218.62 a ton.
Iron ore futures are pointing to a rise of 0.59 per cent.
One Australian dollar is buying 75.59 US cents.

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