Markets Live, Monday 21 September, 2020

Markets Live, Monday 21 September, 2020

The market is now down 3.9 percent per month and is up 5.5 percent from its post-epidemic peak of August 25, when it poured about $ 100 billion from its market capitalization.

The local fall reflected the recent sell-off in US technology stocks, which continued further on Friday amid further set of uncertainty and pre-election posture.

Ben Clarke, portfolio manager for DMS Capital, said Monday was another slow news day dominating a smooth Wall Street lead in trading.

“I think a lot of people are sitting around this time because of the uncertain outlook,” Mr Clark said.

“I have a little more money in my mind … (but) the market is not cheap enough for people to step in and start buying aggressively.”

Iron ore miners were hardest hit on Monday, with BHP and Rio Tinto each down 1.2 percent and Fortescue Metals down 0.7 percent following their recent losses.

Twickie Forest’s miner cut its value by 7.4 percent this month to close at a two-month low of $ 16.20.

Goldminers were also included, with Newcrest down 2.1 percent, North Star down 2 percent, Evolution down 2.6 percent and Saracen down 5.2 percent.

The NAB made losses to large banks, down 1.5 percent to $ 17.04. Westback and Commonwealth Bank fell 1.4 percent and ANZ 1.3 percent.

Biotech CSL ended 0.2 percent higher at $ 283.25, followed by Sect Stablemate Sonic Healthcare in black, up 2.7 percent to $ 33.27.

Supermarket Woolworths is up 0.4 percent at $ 36.21. Among other blue chips, Delstra and the Goodman Group were flat and Wesformers was down 0.8 percent at $ 43.73. The toll company Transparency Index weighed 0.9 percent.

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Whitehaven Coal was up 10.2 percent at 98 cents. Harvey Norman also rose 2.1 percent to close at $ 4.44 on bumper sales update.

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Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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