Webjet (ASX:WEB) shares continue to slide: ASX closed 0.3% lower

Webjet (ASX:WEB) shares continue to slide: ASX closed 0.3% lower

 

It has been a mostly negative day of trade for the Australian share market closing 0.3 per cent lower. Webjet (ASX:WEB) shares continue to slide after they issued a statement yesterday to "clarify inaccuracies" from an analyst report as to how Webjet acquires traffic and the impact of Google Flights on that traffic acquisition. Nearmap (ASX:NEA) shares dropped over 20 per cent after they downgraded their ACV guidance. The best performing sector is financials, the worst performing sector is healthcare.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 23 points lower to finish at 7,008.

Futures market

Dow futures are suggesting a fall of 178 points.
S&P 500 futures are eyeing a dip of 20 points.
The Nasdaq futures are eyeing a fall of 46 points.
And the ASX200 futures are eyeing a 23 point fall for tomorrow morning.

Local economic news

The import price index rose 0.7 per cent this quarter and 1.4 per cent through the year. Falls in iron ore and coal are driving down these prices.

Company news

Saracen Mineral Holdings (ASX:SAR) has sold its 10.5 per cent interest in Red 5 (ASX:RED) for approximately $39 million. The sale was completed at 30 cents per share via a book build process. Saracen Managing Director Raleigh Finlayson said the proceeds of the sale would be used to pay down debt associated with the Company’s recent acquisition of a 50 per cent share of the Kalgoorlie Super Pit. Shares in Saracen Mineral Holdings (ASX:SAR) closed 1.5 per cent lower at $4.02.

Suncorp (ASX:SUN) has declared three natural hazard events since the start of 2H20, being the Vic/NSW/Tas bushfires, the South East states hailstorms and the South East Queensland and NSW heavy rain. Net costs associated with the three declared events are expected to be capped at $300 million. Natural hazard costs for 1H20 are confirmed at $519 million.

Diversified mining services company Perenti (ASX:PRN) subsidiary hard-rock underground miner Barminco, has been selected as preferred contractor by Panoramic Resources at the Savannah Project in the Kimberley. The contract is worth approximately $200 million.

Property investors Primewest (ASX:PWG) are preparing for an Initial Public Offering (IPO) and ASX listing of a new real estate investment trust, the Primewest Commercial REIT. It is hoped the Fund will initially own a portfolio of four office buildings, independently valued at approximately $285 million.

Best and worst performers 

The best performing sector was Financials adding 0.4 per cent while the worst performing sector was Healthcare, shedding 1.4 per cent.

The best performing stock in the S&P/ASX 200 was Gold Road Resources (ASX:GOR), rising 11.2 per cent to close at $1.50. Shares in Treasury Wine Estates (ASX:TWE) and Beach Energy (ASX:BPT) followed higher.

The worst performing stock in the S&P/ASX 200 was Nearmap (ASX:NEA), dropping 29.8 per cent to close at $1.71. Shares in Pilbara Minerals (ASX:PLS) and Avita Medical (ASX:AVH) followed lower.

Asian markets

Mostly lower: Japan’s Nikkei has lost 2 per cent, Hong Kong’s Hang Seng has also lost 2 per cent and the Shanghai Composite remains closed.

Commodities and the dollar

Gold is trading at US$1,579 an ounce.
Iron ore price is 7.3 per cent lower at US$86.84.
Iron ore futures are pointing to a fall of 2.3 per cent.
Light crude is US$0.25 down at US$53.08 a barrel.
One Australian dollar is buying 67.36 US cents.

 
Copyright 2020 – Finance News Network


Source: Finance News Network

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