ASX finishes lower, as market breaks for Queen commemoration
Last updated 4:50pm AEST
The ASX finished down ahead of Thursday’s market holiday to commemorate the death of Queen Elizabeth II.
The S&P/ASX200 closed sharply lower, dropping 106.20 points or 1.56%.
The broader All Ordinaries dropped 108.60 points or 1.54% to 6,921.40.
Tech company, Calix Ltd (ASX:CXL) was a major loser, dropping more than 6% for the day.
Defying the market trend was Viva Energy (ASX:VEA), which saw its shares soar almost 7% throughout the day, hitting an intraday high of AU$2.80, and coming within striking distance of their 52-week high of AU$3.11.
Viva’s surge came after the company announced a deal to expand its business through the purchase of Coles Group’s (ASX:COL) fuel and convenience retailing network, Coles Express.
Meanwhile, Trajan Group (ASX:TRJ) saw its shares rise as much as 6% in morning trading, hitting an intraday high of AU$2.14.
The company, which provides analytical and life sciences technology, has recently seen its shares decline off recent highs, and has seen a bump ahead of tomorrow’s market holiday.
Afternoon trading remains down
Last updated: 2:20pm AEST
Australian stocks remained in negative territory in the afternoon, as global inflation and higher interest rate fears continue to impact local market sentiment.
The S&P/ASX200 was down 99.60 points or 1.46% to 6,706.80, setting a new 20-day low.
The broader All Ordinaries Index was also down, dropping 103.40 points or 1.47% to 6,926.60.
Ten of the 11 sectors were down, with only the Energy Sector remaining in the green.
On a more positive note, Trajan Group (ASX:TRJ) saw its shares rise as much as 6% in morning trading, hitting an intraday high of AU$2.14.
The company, which provides analytical and life sciences technology, has recently seen its shares decline off recent highs, and has seen a bump ahead of tomorrow’s market holiday to commemorate the death of Queen Elizabeth II.
Aussie shares track lower
Last updated: 11:50am AEST
The Australian share market is lower, following Wall Street declines overnight.
The S&P/ASX200 dropped 97.50 points or 1.43% to 6,708.90.
All 11 sectors were were down in morning trading.
The session’s top sector, Consumer Staples, was lower by 0.50%, continuing its 1.65% decline for the last five days.
Market watch
Iron ore miner, Fortescue Metals (ASX:FMG) has announced its spending billions to shift to renewable energy, as it eyes an array of benefits that could in turn deliver rewards for its shareholders.
How does the massive renewable energy spending plan play into current market dynamics and future expectations?
Pre-market breakdown
The Australian share market is set to open down, following a drop across U.S. markets overnight, as traders position themselves for another aggressive interest rate rise when the Federal Reserve meets, as well as intensifying macroeconomic headwinds.
Recent U.S. market movements are set to continue to reverberate across the Australian market, with ASX futures down 1.20%, to be sitting at 6,735.5 just before 6:30am AEST.
Today’s anticipated ASX falls come after a positive day for the local market yesterday, which saw the S&P/ASX200 and the broader All Ordinaries increase 1.29% and 1.17% respectively.
U.S stock indices all tracked down overnight, with the Dow Jones Industrial Average (DJIA), the S&P 500 (SPX), and the Nasdaq 100 (NDX) decreasing by 1.01%, 1.12%, and 0.85%, respectively.
The Australian dollar was sitting at around US66.9c at the U.S. market close.
Brent Crude was down around 1.3%, at around US$90 a barrel.
Gold was down slightly by about 0.6%, at around $US1664 an ounce.
Iron ore dropped around 1.5%, to sit at about US$100 a tonne.
Meanwhile, Bitcoin (BTC) was up slightly by around 3%, to about US$19,000.
Market watch
Iron ore miner, Fortescue Metals (ASX:FMG) has announced its spending billions to shift to renewable energy, as it eyes an array of benefits that could in turn deliver rewards for its shareholders.
How does the massive renewable energy spending plan play into current market dynamics and future expectations?
