Tougher Sydney lockdown tumbles the ASX: Aus shares 0.5% lower over the week

Market Reports

by Lauren Evans

The Australian sharemarket finished the week in negative territory, tumbling to its worst session in nearly three weeks as a rise in the number of Covid-19 cases looms.

At the closing bell, the S&P/ASX 200 was 0.9 per cent or 68.1 points lower at 7273.3. Over the week, it closed 0.5 per cent or 35.3 points lower.

Most sectors remained in the red. Technology took a U-turn today after a strong week, closing 2.8 per cent lower as the worst-performing sector. Energy was the best-performing sector and the only sector to make gains, closing 0.8 per cent higher.

The best-performing stock was Viva Energy (ASX:VEA), closing 5.8 per cent higher at $2.07 following its operational update and 1H 2021 guidance. The worst-performing stock was the industrial company CSR (ASX:CSR), closing 6.6 per cent lower at $5.23.

Zip Co (ASX:Z1P) was weighing down the Technology sector, closing 5.5 per cent lower at $8.30, with Xero (ASX:XRO) down 1.8 per cent at $134.28 and Afterpay (ASX:APT) down 5 per cent at $117.51.

The Commonwealth Bank of Australia (ASX:CBA) closed 0.6 per cent lower at $98.59. Westpac (ASX:WBC) was down 1.2 per cent at $25.73. ANZ (ASX:ANZ) was down 0.3 per cent at $27.85. NAB (ASX:NAB) was down 0.5 per cent at $26.08.

Retail giant Woolworths (ASX:WOW) closed 1.2 per cent lower, while biotech company CSL (ASX:CSL) closed 1.3 per cent lower.

Webjet (ASX:WEB) closed 5.7 per cent lower along with a number of other travel stocks as NSW recorded 44 new COVID-19 cases and tightened its restrictions. Both Victoria and Queensland recorded no new COVID-19 cases.

Company news

Please join us for Stocks of the Hour here.

Mining company Challenger Exploration (ASX:CEL) has announced it has entered into binding agreements to shift to 100% ownership of their Hualilan Gold Project in San Juan Argentina. The company aims to employ local people and integrate with their community. The Hualilan Project is located in a Tier 1 jurisdiction.

Rural Funds Group (ASX:RFF) has announced the completion of its institutional entitlement offer, raising $30 million at $2.47 per share on 8 July 2021. Rural Funds will now push ahead with the retail component of the entitlement offer to raise approximately $70 million, taking the total size of the entitlement offer to approximately $100 million.

Perenti Global (ASX:PRN) has announced that its subsidiary, hard-rock underground miner Barminco, has finalised a contract with Panoramic Resources for development and production works at the Savannah Nickel Project in the Kimberley region of Western Australia. The project produces nickel, copper and cobalt.

Shell petrol station owner Viva Energy Group (ASX:VEA) reports strong figures for the first half of the year performance ending 30 June 2021 with an implied 34 per cent boost to its profit forecast against FY 2019 numbers.

Best and worst performers

The best-performing sector was Energy, up 0.08 per cent. The worst-performing sector was Information Technology, down 2.84 per cent.

The best-performing stock in the S&P/ASX 200 was Viva Energy Group (ASX:VEA), closing 5.08 per cent higher at $2.07. It was followed by shares in NRW Holdings (ASX:NWH) and Lendlease Group (ASX:LLC).

The worst-performing stock in the S&P/ASX 200 was CSR (ASX:CSR), closing 6.61 per cent lower at $5.23. It was followed by shares in Webjet (ASX:WEB) and Zip Co (ASX:Z1P).

Asian markets

Japan's Nikkei has lost 0.69 per cent.
Hong Kong's Hang Seng has gained 1.04 per cent.
China's Shanghai Composite has lost 0.22 per cent.

Wall Street

Over the last four trading days, the Dow Jones lost 1.06 per cent, the S&P 500 lost 0.73 per cent and the Nasdaq lost 0.55 per cent.

Commodities and the dollar

Gold is trading at US$1801.97 an ounce.
Iron ore is 2.00 per cent lower at US$218.04 a ton.
Iron ore futures are pointing to a fall of 4.20 per cent.
Light crude is trading $0.19 higher at US$72.41 a barrel.
One Australian dollar is buying 74.28 US cents.

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