ASX takes more casualties and falls -2.1%

September 20, 2021 - 1 month ago
Share on twitter
Share on facebook
Share on linkedin
Share on email

The Australian sharemarket took further casualties as iron ore prices continued to weigh heavy on the Index on Monday as iron ore dropped -5.4% to $US100.80, and futures hit a 14-month low of $US99.70 on Friday.

At the closing bell, the benchmark S&P/ASX 200 index fell -155.5 points, or -2.10% to 7,248.2, while the All Ordinaries lost -165.0 points, or -2.14%, to 7,537.9.

Ten out of eleven sectors ended in negative territory, with Materials plummeting -3.74%, and Energy dropped -4.16%.

Titans, BHP Group, fell -4.16% and settled at $37.53, while Rio Tinto lost -3.6% to $95.24 and Fortescue Metals Group dropped -3.73% to settle at $14.70.

Gold stocks were negative, with Newcrest Mining falling -1.81% to $23.35, Northern Star Resources lost -1.19% to $9.16, and Evolution Mining fell -2.11% to $3.71.

The Financial sector was weaker, with only Westpac Banking Corp leading the “Fab Four” (banks) lower after falling -2.24% to $25.30, while Australia and New Zealand Banking Group lost -2.02%, to $27.14, with Commonwealth Bank ended down -2.01% to $100.81, National Australia Bank tumbled -2.02%, to $27.14, and Macquarie Group dropped -3.6% and settled at $173.69.

Buy-now-pay-later giant Afterpay lost -2.17%, to $125.60, Accounting software provider Xero fell -4.53%, to $146.40, Altium lost -2.04%, to $35.54, EML declined -3.65%, to $3.70, Zip Co rose +6.73%, to $6.38 and WiseTech Global dropped -2.75%, to $51.33.

The Health Care was ended weaker, as Biotechnology giant CSL falling -0.63%, to $307.41, while ResMed dropped -2.63%, to $38.50, Fisher & Paykel Healthcare lost -0.35%, to $31.39, Cochlear tumbled -1.43%, to $234.87.

As for our oil and gas producers, a rising US dollar helped pushed oil prices lower, which weighed on the energy sector as Woodside Petroleum lost -2.51% to $20.58, Oil Search lost -3.13% to $3.72, Santos dropped -3.32% to $6.12, and Worley tumbled -3.13%, to $9.28.

Power grid owner AusNet surged +19.2% to $2.36 after receiving a $9.6 billion takeover offer from Canadian giant Brookfield.

The $2.50 per share cash offer is the third Brookfield has proposed since late August and represents a 26% premium to AusNet’s closing price on Friday.

Supermarket giants Coles and Woolworths were mixed, with Coles climbing +0.18% to $16.94, while its rival Woolworths lost -0.46% to $39.21, and Endeavour rose +2.17%, to $6.58.

E-commerce group Kogan lost -4.73% and settled at $9.46, Seek fell -3.36% to $29.59, and AMP shares fell -4.55% to $0.945.

Transurban shares were halted before the market opening before confirming reports by news sources that it secured the remaining 49% stake in Sydney’s newest motorway, WestConnex, from the NSW government for $11.1 billion.

Travel stocks were mixed, with Sydney Airport lost -1.45% to $8.18, Corporate Travel Management lost -2.62%, $20.80, Flight Centre lost -2.5% to $17.97, Webjet slid -2.03% to $5.80, and Qantas ended down -2.71%, to $5.38.

Our local currency, the Australian dollar, is currently buying US$0.7226 (as of writing).

Share on twitter
Share on facebook
Share on linkedin
Share on email