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.
Wall Street's main indexes have all risen more than one percent - with the Dow again above the 26,000 mark - as investors' expectations for higher earnings lift stocks across sectors.MORE >
The Australian share market has closed lower, with the materials sector heavily sold down on shifting commodity prices and expectations of a correction
Wednesday, 17th January, 2018
The ASX200 index was down 0.54 percent, at 6,015.8 points, with the materials sector down more than two per cent.
A retreat in commodity prices triggered losses for BHP Billiton and Rio Tinto, down 2.9 percent to $30.74 and 3.5 percent to $78.45, after both miners lost three per cent each on the London exchange overnight. Fortescue Metals dropped three percent and the gold miner Newcrest Mining lost 0.6 percent. Diversified miner South32 dropped 1.5 percent to $3.92 despite showing a solid first half and maintaining full-year guidance for most of its businesses, except for its South African manganese production where it flagged an improvement.
In other company news, A2 Milk announced it will expand its US presence to north-eastern states and its shares gained 2.4 percent to $7.60. Rival infant formula maker Bellamy's Australia continued to gain ground after upgrading its full-year profit expectations on Tuesday, with the stock advancing 5.9 percent to $14.48. Sirtex Medical climbed 13.9 percent to $17.83 after the cancer specialist announced a lift in expected first-half earnings and higher second-half sales.
A retreat in global oil prices from recent highs left local energy producers mixed, with Origin Energy up 0.4 percent at $9.19, Woodside Petroleum down 0.5 percent at $33.66 and Santos 0.8 percent lower at $5.29. The big four banks were lower at the close: ANZ down 0.3 percent and National Australia Bank, Westpac and Commonwealth Bank all 0.6 percent lower.
The Australian dollar had a brief gain after the release of ABS data showing a better-than-expected 2.3 percent rise in home loan approvals for November but pulled back and to 79.51 US cents, from 79.64 US cents on Tuesday.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7950||-0.0020||-0.25|
|$A vs GBP||0.5769||
|$A vs EUR||0.64992||n/a||n/a|
|$A vs YEN||88.09||0.10||0.12|
|$A vs $NZ||