Burrell Stockbroking and Superannuation is a longstanding Queensland company providing full stockbroking, superannuation, wealth management and advisory services to private clients, Not-for-Profit and other investment organisations.
US stocks have slumped as investors dumped shares of companies in growth and cyclical sectors, with energy and technology leading declines, on fears that the escalating US-China trade war will stymie global economic growth.MORE >
The Australian share market has finished lower after the price of oil plunged, sending energy stocks into a tailspin.
Friday 24th May, 2019
The ASX200 index finished down 35.8 points, or 0.55 percent, to 6,456 points, while the broader All Ordinaries was down 38.7 points, or 0.59 percent, to 6,545.6.
Most sector were down on Friday though, with energy shares down 3.1 percent after the price of oil dropped more than five percent overnight following concerns the US-China trade war was heating up. Woodside Petroleum was down 3.5 percent to $35.70, Santos down 3.2 percent to $6.98, Worley Parsons down 3.2 percent to $13.28 and Oil Search down 2.8 percent to $7.37. Tech shares were down 1.7 percent following losses in the US, with Afterpay Touch down 4.4 percent to $23.98 and Altium down 4.2 percent to $29.60.
The heavyweight financial sector was down 0.5 percent but the big four banks were mixed. ANZ was down 0.4 percent to $27.84 and Westpac down 0.1 percent to $28.12, while NAB and Commonwealth Bank were both up three cents, to $25.81 and $78.18, respectively. Consumer staples shares were down two percent, with Woolworths 2.7 percent lower and Coles down 3.4 percent.
Aristocrat Leisure was up 2.7 percent, to $29.17, after a number of brokers lifted price targets for the gaming company following Thursday's announcement its profit was up 15 per cent for the half year. In the materials sector, BHP was up 0.4 percent to $37.45, while Fortescue Metals was down 1.6 per cent to $8.22. Sydney Airport was up 1.33 percent despite announcing subdued growth in passenger numbers in the first four months of 2019.
The local currency fell sharply after Westpac economist Bill Evans said he expected the central bank to cut interest rates three times before the end of the year, but then recovered in the afternoon. The Aussie dollar was buying 68.92 US cents, from 68.71 US cents on Thursday.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.6897||-0.0002||-0.03|
|$A vs GBP||0.5441||
|$A vs EUR||0.6164||-0.0003||-0.05|
|$A vs YEN||75.50||-0.07||-0.10|
|$A vs $NZ||