Australian shares end day lower
Last updated: 4:47pm AEDT
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The ASX has ended the day lower, pulled down by the Materials and Energy sectors.
The S&P/ASX200 closed lower Monday, dropping 94.40 points or 1.40% to 6,664.40.
The broader All Ordinaries was also down, dropping 94.30 points or 1.36% to 6,854.30.
The Materials and Energy sectors were down more than 2.2% and 2% respectively.
Lithium stocks were a bright spot for the otherwise languishing. Liontown Resources shares reached their highest point in more than a month, following a recent price record for lithium in China. It finished the session up more than 4.2%.
Meanwhile, Adbri (ASX:ABC) shares nose dived after the market learnt the Australian cement company has parted ways with its CEO, amid a raft of financial and operating challenges.
Shares in negative territory in afternoon trading
Last updated: 1:15pm AEDT
The ASX remained down in afternoon trading.
The S&P/ASX200 was lower today, dropping 98.60 points or 1.46% to 6,660.20.
The broader All Ordinaries was lower today, dropping 99.70 points or 1.43% to 6,848.90.
Across the market, all 11 sectors were lower. The session’s top sector, A-REIT, was lower by 0.37%, continuing its 0.51% decline for the last five days.
Adbri (ASX:ABC) shares nose dived after the market learnt the Australian cement company has parted ways with its CEO, amid a raft of financial and operating challenges.
Medical Developments International (AU:MVP) dropped this afternoon, after gains in morning trading and a strong ride late last week.
ASX takes a dip
Last updated: 11:00am AEDT
The Australian share market has dipped down in morning trading.
The All Ordinaries was lower, dropping 96.00 points or 1.38% to 6,852.60.
The S&P/ASX200 was lower today, dropping 95.10 points or 1.41% to 6,663.70.
Across the market, all 11 sectors were lower along with the S&P/ASX 200 Index. The session’s top sector, A-REIT, was lower by 0.32%, continuing its 0.46% decline for the last five days.
Medical Developments International (AU:MVP) continued its strong ride from its gains late last week. It’s been on the rebound, as investors return to one of the most heavily soldoff Australian healthcare stocks.
TipRanks insights show analysts are bullish on the stock, with the price target signalling a large upside potential.
Pre-market breakdown
The ASX is set to open lower, after a volatile week of trading on global markets last week, which saw U.S. indices end on a sour note Friday.
ASX futures were up 1.51% to AU$6,660 approaching 7:00am AEDT.
Ahead of Monday’s local market opening, the Australian dollar was down 1.6%, sitting at US61.99c.
WTI Crude was up around 3.9%, at around US$85.5 a barrel.
Gold was down by 1.3%, at around US$1643 an ounce.
Meanwhile, Bitcoin was up by around 0.8%, to about AU$31,057.
Market watch – health stock rebounds
The market will be watching Medical Developments International (AU:MVP) shares, which have been on the rise, as investors return to one of the most heavily sold Australian healthcare stocks.
TipRanks insights show analysts are bullish on the stock, with the price target signalling a large upside potential.
