Shares slide on the last day of 2020: ASX closes 1.4% lower

Shares slide on the last day of 2020: ASX closes 1.4% lower


The Australian share market ended 1.4 per cent lower after failing to gain momentum after a drop at the open. Gold Road Resources (ASX:GOR) rose almost four per cent today while shares in GUD Holdings (ASX:GUD) dropped today after the company announced it has completed the acquisition of AMA Group’s Automotive Components and Accessories Division. All of the sectors ended in the red.

At the closing bell the S&P/ASX 200 index closed 95 points lower, or 1.4 per cent lower to finish at 6587.

Over the week the ASX closed 78 points lower or 1.2 per cent lower.

Futures market

Dow futures are suggesting a rise of 30 points.
S&P 500 futures are eyeing a rise of 3 points.
The Nasdaq futures are eyeing rise of 5 points.
And the ASX200 futures are fall of 71 points for Monday morning.

Company news

Mineral and exploration company European Metals Holdings (ASX:EMH) have a further funding agreement with 6466 Capital. The agreement allows for the draw down of up to $1 million in tranches over a year. European Metals Holdings (ASX:EMH) develops lithium as part of the Cinovec project which contains the largest lithium resource in Europe. Shares in European Metals Holdings (ASX:EMH) closed 5.99 per cent higher at $1.15.

Water treatment solution provider Fluence (ASX:FLC) is saying goodbye to non-executive director Arnon Goldfarb next week. Company secretary Ross Kennedy has also retired. Melanie Leydin has been appointed to Company Secretary. Shares in Fluence (ASX:FLC) closed 2.3 per cent higher at $0.23

Cimic (ASX:CIM) has completed the sale of 50 per cent of Thiess, the world's largest mining services provider.

Santos (ASX:STO) reports that Yujiang (Eugene) Shi will be appointed to the Board as the ENN nominated non-executive director effective from today.

Engineers and Planners Company will not proceed with its proposed offer for Cardinal Resources (ASX:CDV).

New Energy Solar (ASX:NEW) is set to sell 50 per cent of its Mount Signal solar power plant to US Solar Fund PLC.

Best and worst performers of the day

The sector with the fewest losses was information technology shedding 0.2 per cent. The sector with the most losses was real estate investment trust losing 2.6 per cent.

The best performing stock in the S&P/ASX 200 was Gold Road Resources (ASX:GOR), rising 3.9 per cent to close at $1.32. Shares in Ramelius Resources (ASX:RMS) and Perseus Mining followed higher.

The worst performing stock in the S&P/ASX 200 was GUD Holdings (ASX:GUD) closing 4.6 per cent lower at $11.74. Shares in Flight Centre (ASX:FLT) and Ingengia Communities Group (ASX:INA) followed lower.

Asian markets are higher

Japan’s Nikkei is closed due to public holiday, Hong Kong’s Hang Seng has gained 0.3 per cent and the Shanghai Composite has gained 1.2 per cent.

Wall Street

Over the last 3 trading days, Wall Street closed higher. The Dow Jones added 0.7 per cent, The S&P 500 added 0.8 per cent and the Nasdaq gained 0.5 per cent.

Commodities and the dollar

Gold is trading at US$1,889 an ounce.
Iron futures are pointing to a rise of 0.8 per cent.
Light crude lost US$0.18 to US$47.50 barrel.
One Australian dollar is buying 76.95 US cents.
Copyright 2020 – Finance News Network

Source: Finance News Network

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