ASX down 0.94% near noon: All sectors in the red

Market Reports

by Peter Milios

Australian shares fell to a three-week low, reflecting weakness in New York, as investors awaited local inflation data for clues on interest rates. Mining giants, including BHP, Fortescue, and Rio Tinto, weakened following a decline in iron ore futures in Singapore overnight.

At 11:35am, the S&P/ASX 200 is 0.94 per cent lower at 7,693.80.

The SPI futures are pointing to a fall of 57 points.

Best and worst performers

All sectors are in the red. The sector with the least losses was Energy, down 0.18 per cent. The worst-performing sector is Consumer Staples, down 1.7 per cent.

The best-performing large cap is Fisher & Paykel Healthcare Corporation (ASX:FPH), trading 6.72 per cent higher at $27.16. It is followed by shares in Alumina (ASX:AWC) and Mercury NZ (ASX:MCY).

The worst-performing large cap is Treasury Wine Estates (ASX:TWE), trading 3.14 per cent lower at $11.255. It is followed by shares in Aristocrat Leisure (ASX:ALL) and Qantas Airways (ASX:QAN).

Commodities and the dollar

Gold is trading at US$2381.60 an ounce.

Iron ore is 1.0 per cent lower at US$117.85 a tonne.

Iron ore futures are pointing to a 1.8 per cent fall.

One Australian dollar is buying 66.57 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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