ASX down 0.13%: REITs are best performing sector

Market Reports

by Peter Milios

Michele Bullock suggests that the Reserve Bank of Australia can lower interest rates even before inflation reaches the 2.5 percent target, emphasising the importance of confidence in reaching the target when adjusting monetary policy to avoid abrupt changes.

At 11:30am, the S&P/ASX 200 is 0.13 per cent lower at 7,629.40.

The SPI futures are pointing to a fall of 13 points.

Best and worst performers

The best-performing sector is REITs, up 0.46 per cent. The worst-performing sector is Energy, down 1.31 per cent.

The best-performing large cap is Boral (ASX:BLD), trading 9.43 per cent higher at $5.92. It is followed by shares in Seven Group Holdings (ASX:SVW) and Cochlear (ASX:COH).

The worst-performing large cap is AGL Energy (ASX:AGL), trading 2.39 per cent lower at $8.59. It is followed by shares in Meridian Energy (ASX:MEZ) and Amcor plc (ASX:AMC).

Commodities and the dollar

Gold is trading at US$2049.00 an ounce.

Iron ore is 3.0 per cent higher at US$129.80 a tonne.

Iron ore futures are pointing to a 2.39 per cent rise.

One Australian dollar is buying 64.91 US cents.

Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

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