Australian stocks fell for the third straight day, weighed down by the financials sector.
ASX 200: 5,664.30 -6.68 (-0.12%)
All Ordinaries: 5,725.50 -4.11 (-0.07%)
AUD/USD: 0.7862 -0.0024 (-0.30%)
Although most major sectors edged higher, a 0.24% fall in the financials index was enough to drag the broader ASX200 to a negative close.
Commonwealth Bank led the big banks lower with a fall of 0.35%.
Major resources stocks were higher across the board, led by Fortescue which rose by 3.58%. Rio Tinto and BHP were up 1.42% and 0.23% respectively.
Shares in Myer spiked following a letter lodged with the ASX by billionaire Solomon Lew’s Premier Investments, requesting a copy of Myer’s share register.
Among other notable moves, Telstra shares slumped by 1.7% to a five-year low of $3.47.
Shares in Neurotech International – a company which makes devices to treat children with autism — more than doubled on news of a successful preliminary trial. They closed 112% higher at 35 cents.
QBE Insurance fell a further 3% to close below $10. Bellamy’s, the manufacturer of infant baby formula, fell by 2.93%.
1. Here’s why markets are calm: It’s not just low interest rates and the rise of Exchange Traded Funds. A positive global growth backdrop is also keeping the markets calm.
2. Equifax CEO is out: Richard Smith, who presided over the data breach which exposed the personal data of half the US population, will step down effective immediately.
3. Bikes everywhere: The introduction of bicycle-sharing startups in Australia hasn’t come without complications — random bikes are showing up at odd locations in Sydney and Melbourne.
4. Groom to the rescue: A Canadian groom has put festivities on hold mid-wedding to rescue a young boy who fell into a pond in Kitchener, Ontario.
5. Booming population: The latest figures from the ABS show that population growth rose for the fast level since 2014 — Australia’s population has now grown by a massive 40% since 1990.
6. Super-yacht lineup: $4 billion worth of super-yachts are up for sale in Monaco. Take a look inside some of the most expensive yachts in the world.