The Australia share market gave up its lead, dropping lower in the afternoon trade. At the closing bell, the ASX finished the week 0.1 per cent or 4 points lower at 7,461. Over the week, it lost 2.3 per cent or 168 points.
Miners clawed back some of its losses, despite BHP still edging lower. Meanwhile, the Financial and Tech sectors weighed on the index.
Major banks dropped in afternoon trade, except Commonwealth (ASX:CBA), which closed 0.8 per cent higher. Westpac (ASX:WBC) and ANZ (ASX:ANZ) both closed 0.3 per cent lower and NAB (ASX:NAB) closed 0.2 per cent lower.
Mining giant BHP (ASX:BHP) closed 0.4 per cent lower, Rio Tinto (ASX:RIO) closed 0.2 per cent higher and Fortescue Metals (ASX:FMG) closed 1.5 per cent higher.
Throughout the week there was a mixed reaction to FY21 results across the board. In headlines today, hearing specialist Cochlear (ASX:COH) closed 7.4 per cent lower as the worst-performing stock, despite a strong performance in their FY21 results.
Meanwhile, poultry producer Inghams (ASX:ING) closed 4.6 per cent lower, following their FY21 results.
NSW recorded 644 new Covid-19 cases, following a lockdown extension. Victoria recorded 55 new cases and Queensland recorded 1 new case.
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Adairs (ASX: ADH) reported another record year for both sales and profitability, for the period ending 30 Jun 2021 (FY21).
Cochlear (ASX:COH) achieved record sales revenue of $1,493 million for the period ending 30 Jun 2021 (FY21), up 10 per cent from the prior year.
Sydney Airport (ASX:SYD) faced a challenging 6 months for the period ending 30 Jun 2021, due to ongoing Covid-19 restrictions.
Cleanaway (ASX:CWY) delivered an increase in annual revenue, profit and dividends for the period ending 30 Jun 2021 (FY21).
Poultry producer Inghams (ASX: ING) reported a solid year for the period ending 30 Jun 2021 (FY21), backed by volume growth and operational efficiency gains.
The Dow Jones futures are pointing to a fall of 80 points.
The S&P 500 futures are pointing to a fall of 10 points.
The Nasdaq futures are pointing to a fall of 16 points.
The SPI futures are pointing to a rise of 19 points when the market next opens.
Best and worst performers
The best-performing sector was Utilities, up 1.5 per cent. The worst-performing sector was Materials, down 1 per cent.
The best-performing stock in the S&P/ASX 200 was Redbubble (ASX:RBL), closing 15.7 per cent higher at $4.21. It was followed by shares in Treasury Wine Estates (ASX:TWE) and Inghams Group (ASX:ING).
The worst-performing stock in the S&P/ASX 200 was Cochlear (ASX:COH), closing 7.4 per cent lower at $237.05. It was followed by shares in Lynas Rare Earths (ASX:LYC) and Orocobre (ASX:ORE).
Japan’s Nikkei has lost 1 per cent.
Hong Kong’s Hang Seng has lost 2.2 per cent.
China’s Shanghai Composite has lost 1.8 per cent.
Over the last four trading days, the Dow Jones lost 1.8 per cent, the S&P 500 lost 1.4 per cent and the Nasdaq lost 1.9 per cent.
Commodities and the dollar
Gold is trading at US$1787.35 an ounce.
Iron ore is 13.5 per cent lower at US$132.66 a ton.
Iron ore futures are pointing to a rise of 0.8 per cent.
Light crude is trading $0.37 higher at US$63.87 a barrel.
One Australian dollar is buying 71.32 US cents.
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