ASX down 0.05% near noon: Aus dollar reaches highest level since January

Market Reports

by Peter Milios

At 11:30am, the S&P/ASX 200 is 0.05 per cent lower at 7,827.60, due to declines in mining and property stocks, despite earlier gains in the week. Saudi Aramco refuted reports of considering a bid for Santos, causing Santos shares to dip by 0.8% to $7.93. Meanwhile, the Australian dollar reached its highest level since January 2 on speculation of potential interest rate hikes by the Reserve Bank of Australia in 2024.

The SPI futures are pointing to a fall of 2 points.

Best and worst performers

The best-performing sector is Health Care, up 0.39 per cent. The worst-performing sector is REITs, down 0.38 per cent.

The best-performing large cap is Yancoal Australia (ASX:YAL), trading 1.38 per cent higher at $7.36. It is followed by shares in BlueScope Steel (ASX:BSL) and Aristocrat Leisure (ASX:ALL).

The worst-performing large cap is Seven Group Holdings (ASX:SVW), trading 4.07 per cent lower at $36.05. It is followed by shares in GQG Partners (ASX:GQG) and EBOS Group (ASX:EBO).

Commodities and the dollar

Gold is trading at US$2366.40 an ounce.

Iron ore is 0.4 per cent higher at US$114.00 a tonne.

Iron ore futures are pointing to a 0.9 per cent fall.

One Australian dollar is buying 67.32 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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