Rio falls on 2Q results, Afterpay continues to fall: ASX down 0.8%

Market Reports

by Lauren Evans

The Australian share market is 0.8 per cent or 5.8 points lower at 7,330, weighed down by miners and banks. The SPI futures are pointing to a rise of 1 point.

BNPL provider Afterpay (ASX:APT) remains down, trading 2.3 per cent lower, although Zip Co (ASX:Z1P) has recovered from some of its early losses this week, trading 0.6 per cent higher.

Commonwealth (ASX:CBA) is leading the slope down 0.6 per cent. NAB (ASX:NAB) and ANZ (ASX:ANZ) are both trading 0.5 per lower, followed by Westpac (ASX:WBC) down 0.4 per cent.  

Mining giant Rio Tinto (ASX:RIO) is down 1 per cent, following the release of their Q2 results. Its rival BHP (ASX:BHP) is trading 0.3 per cent higher, along with Fortescue Metals (ASX:FMG) up 0.6 per cent. 

The best-performing stock is Whitehaven Coal (ASX:WHC), trading 3.9 per cent higher. The worst-performing stock is Evolution Mining (ASX:EVN), trading 4.6 per cent lower, following the release of its quarterly report for the period ending 30 June 2021.

New South Wales has recorded 97 Covid-19 cases while the state remains in lockdown. Melbourne has recorded 10 new cases after entering a five-day snap lockdown. Queensland has recorded one new case.

Company news 

Problem-plagued Pilbara continues to pressure the nation’s largest mining giant, Rio Tinto (ASX:RIO) with iron ore shipments plummeting 12 per cent to 76.3 million tonnes in the June quarter compared to the same time in 2020.

Wagering services provider, BetMakers (ASX:BET) has recorded over $6.2 million in revenue under the conditional commercial agreements with Waterhouse Group from the commencement of agreements on 22 May 2020 through to 30 June 2021. 

New Zealand’s largest international airport, Auckland Airport (ASX:AIA) has released their monthly traffic update preview for Jun 2021. Auckland Airport recorded an 19.6 per cent increase in total passenger volume versus last year. 

Best and worst performers

The best-performing sector is Consumer Discretionary, up 0.55 per cent. The worst-performing sector is Information Technology, down 0.82 per cent.

The best-performing stock in the S&P/ASX 200 is Whitehaven Coal (ASX:WHC), trading 3.86 per cent higher at $2.15. It is followed by shares in GUD Holdings (ASX:GUD) and Appen (ASX:APX).

The worst-performing stock in the S&P/ASX 200 is Evolution Mining (ASX:EVN), trading 4.65 per cent lower at $4.72. It is followed by shares in Mesoblast (ASX:MSB) and HUB24 (ASX:HUB).

Commodities and the dollar

Gold is trading at US$1826.55 an ounce.
Iron ore is 1.6 per cent higher at US$222.09 a ton.
Iron ore futures are pointing to a rise of 2.87 per cent.
One Australian dollar is buying 74.20 US cents.

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