ASX falls 0.7%: Woolworths announce declining sales volume

Market Reports

by Peter Milios

The Australian sharemarket declined as Woolworths' announcement of declining sales volume led to a 0.7% drop in the S&P/ASX 200 index, with consumer staples suffering the most. The market also mirrored losses on Wall Street, with Nvidia's shares affecting sentiments, while various stocks, including WiseTech and Scentre, experienced notable movements due to their respective financial performances and announcements.

Futures

The Dow Jones futures are pointing to a fall of 42 points.

The S&P 500 futures are pointing to a fall of 7 points.

The Nasdaq futures are pointing to a fall of 53 points.

The SPI futures are down 45 points.

Best and worst performers

The best-performing sector was Information Technology, up 2.23 per cent. The worst-performing sector was Consumer Staples, down 4.26 per cent.

The best-performing large cap was WiseTech Global (ASX:WTC), closing 11.15 per cent higher at $88.75. It was followed by shares in Cochlear (ASX:COH) and Lynas Rare Earths (ASX:LYC).

The worst-performing large cap was Woolworths Group (ASX:WOW), closing 6.61 per cent lower at $33.50. It was followed by shares in Coles Group (ASX:COL) and Viva Energy Group (ASX:VEA).

Asian markets

Japan's Nikkei has lost 0.23 per cent.

Hong Kong's Hang Seng has gained 3.03 per cent.

China's Shanghai Composite has lost 0.92 per cent.

Commodities and the dollar

Gold is trading at US$2,041.00 an ounce.

Iron ore is 5.3 per cent lower at US$121.95 a tonne.

Iron ore futures are pointing to a 1.4 per cent fall.

Light crude is trading $0.09 higher at US$78.27 a barrel.

One Australian dollar is buying 65.67 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.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?