ASX struggles for direction

January 18, 2022 - 4 months ago
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With no leads from Wall Street, the Australian share market in the late afternoon took a turn for the worst after spending most of the day in the green, with most sectors weakening.

The healthcare sector weighed on the index led by Ansell, down -2.3%, Pro Medicus lost -2.1%, Clinical Pharmaceuticals slide -1.9%, and CSL closed -1.5% lower.

Investors got a brief respite after two weeks of volatile trading as Wall Street was closed on Monday in observance of Martin Luther Jr. King Day.

The benchmark S&P/ASX 200 index slid -8.5 points, or -0.12%, to 7,408.8, while the All Ordinaries lost -3.5 points, or -0.05%, to 7,735.8, while our local currency, the Australian dollar, is currently buying US$0.7186.

Miner’s titan BHP added +1.19%, to $46.70, but Fortescue slipped -0.10%, to $20.75.

Meanwhile, JB Hi-Fi, which owns The Good Guys, reported a -1.6% dip in total sales for the December quarter compared to the same period last year but up almost +22% over a two-year period.

Online sales soared, up more than +62% on last year and representing almost one-quarter of sales.

JB share price jumped +6.86% to $49.84.

Redbubble reported a -25% slide in first-half gross profit, sending its shares plummeting -22.4% to $2.32.

ANZ lifted +0.10%, to $28.75, while the Commonwealth Bank slipped -0.37%, to $100.79, National Australia Bank backtracked -0.14% to $29.41 and Westpac slid -0.28%, to $21.41.

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