ASX down 0.3%: Declines led by property and mining sectors

Market Reports

by Peter Milios

Stocks dipped shortly after the market opened, mirroring the downturn on Wall Street. Declines were led by property and mining sectors, outweighing the gains seen in consumer-related stocks amidst a flurry of corporate earnings reports.

At 11:30am, the S&P/ASX 200 is 0.3 per cent lower at 7,630.20.

The SPI futures are pointing to a fall of 26 points.

Best and worst performers

The best-performing sector is Consumer Staples, up 1.92 per cent. The worst-performing sector is REITs, down 1.29 per cent.

The best-performing large cap is Reece (ASX:REH), trading 12.62 per cent higher at $27.13. It is followed by shares in Coles Group (ASX:COL) and Endeavour Group (ASX:EDV).

The worst-performing large cap is TPG Telecom (ASX:TPG), trading 3.45 per cent lower at $4.76. It is followed by shares in Lynas Rare Earths (ASX:LYC) and Newmont Corporation (ASX:NEM).

Commodities and the dollar

Gold is trading at US$2041.40 an ounce.

Iron ore is 4.2 per cent lower at US$116.00 a tonne.

Iron ore futures are pointing to a 2.3 per cent fall.

One Australian dollar is buying 65.42 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?