Iron ore and gold miners drag down market: Aus shares close 0.3% lower

Iron ore and gold miners drag down market: Aus shares close 0.3% lower



 

The ASX200’s lackluster form continued throughout the afternoon trading session, as the Australian sharemarket concluded its trading day in the red. Mining heavyweights BHP (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue Metals (ASX:FMG) led the losses, as the mining sector undermined the broader market. The downward trend in mining stocks is attributable to spot gold price’s $20 fall from a five-week high. Declines in Commonwealth Bank (ASX:CBA) and Macquarie Group (ASX:MQG)’s shares also added to the pressure.

At the closing bell, the S&P/ASX 200 closed 0.3 per cent or 21 points lower at 6,974.

Futures market

Dow futures are suggesting a fall of 113 points.
S&P 500 futures are eyeing a fall of 11 points.
The Nasdaq futures are eyeing a fall of 19 points.
ASX200 futures are eyeing a 29 point fall for tomorrow morning.

Company news

Book e-commerce platform Booktopia (ASX:BKG) has announced its exclusive supplier and fulfillment partnership with Zookal Textbooks.

Genetic and vascular disorder treatment company Clinuvel Pharmaceuticals (ASX:CUV) released a new strategic update on Monday.

Renewable energy developer Delorean Corporation (ASX:DEL) was tracking over 80 per cent up around 3pm on its Monday debut on the ASX

Best and worst performers

The best-performing sector was Health Care, gaining 0.7 per cent, while the worst-performing sector was Real Estate Investment Trusts, shedding 1.2 per cent.

The best-performing stock in the S&P/ASX 200 was Cochlear (ASX:COH), rising 2.4 per cent to close at $221.76. It was followed by shares in Nanosonics (ASX:NAN) and Bank of Queensland (ASX:BOQ).

The worst-performing stock in the S&P/ASX 200 was Nickel Mines (ASX:NIC), falling 7.7 per cent to close at $1.26. It was followed by shares in Ramelius Resources (ASX:RMS) and NRW Holdings (ASX:NWH).

Asian markets

Lower. Japan’s Nikkei has lost 0.8 per cent, Hong Kong’s Hang Seng has lost 1.1 per cent and the Shanghai Composite has lost 1.1 per cent.

Commodities and the dollar

Gold is trading at US$1,741 an ounce.
The iron ore price is 0.3 per cent higher at US$173.54 a ton.
Its futures are pointing to a rise of almost 2 per cent.
Light crude is US$0.26 lower at US$57.34 a barrel.
One Australian dollar is buying 76.11 US cents. 
Copyright 2021 – Finance News Network


Source: Finance News Network

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