The Australia market fell on the first session of a new month, with mining and energy stocks leading the retreat on the back of lower commodity prices.
Here’s the scoreboard:
- S&P ASX 200: 5,679.30 -19.86 -0.35%
- All Ordinaries: 5,664.30 -17.39 -0.31%
- AUD/USD: 0.7298 -0.0010 -0.14%
On Wall Street, the S&P500 closed Friday down 0.2%. On the local market, nine out of ten sectors lost ground.
Among energy stocks, Woodside was down 1.12% to $35.25, Oil Search 2.81% to $7.26 and Santos 0.81% to $7.34.
BHP was down 1.02% to $26.18 and Rio Tinto 1.25% to $52.20.
The banks were either slightly weaker or flat with the NAB down 0.52% to $34.59.
The top stories Monday:
1. Vmoto increased sales of its electric scooters by 13% to 22,000 in the June quarter as the Australian company benefits from international distribution deals. Its shares closed up 2.38% to $0.43.
2. CSL is closer to creating the world’s second largest flu vaccine business by buying a subsidiary of Swiss pharmaceutical multinational Novartis for $US275 million. Its shares were steady at $98.83.
3. Quickflix has extended its trading halt to Wednesday as the streaming media company considers a “potential corporate transaction with an international party”. Quickflix is also bleeding customers to Netflix.
4. Australia’s manufacturing industry has surged back into the expansion zone with the AiGroup reporting a Performance of Manufacturing Index increase of 6.2 points (14%) to 50.4 in July.
6. The ANZ’s chief economist gave the best explanation yet of why Australian business is not investing.
7. The Australian dollar was the fourth weakest currency in the world in the month of July.
8. China’s manufacturing sector just set a whole bunch of new records and they’re all horrible. The Caixin-Markit manufacturing PMI fell to 47.8 in July.
9. Financial fears grow. Increased volatility across share markets and concerns about the global economy have contributed to an acute decline in financial comfort levels among Australians.
10. Deloitte Australia has expanded its brand and spatial design capabilities by buying start-up MashUp.