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Afternoon (PM) Market Report

The local market opened lower today on the back of mixed results on Wall Street overnight.


Tuesday, 27th June, 2017

The negativity continued throughout the morning and despite an afternoon rally from the financial and material sectors, stocks finished flat at the close, weighed down by utilities. There were mixed results from the sectors; financials and materials were the only positive results, with health care the worst performer of the session. The Australian dollar gained against most major currencies.

The All Ordinaries fell 5.90 points (-0.10%) to 5,752.50 while the S&P/ASX 200 fell 6 points (-0.10%) to 5,714.20.

Spotless Group Holdings (Spotless) advised that Downer Services announced on 27 June 2017 that it has a shareholding of 50.3% in Spotless and is a majority shareholder. Downer encourages remaining Spotless shareholders to accept the Offer promptly and without delay. The Offer Period will remain open for acceptance until 11 July 2017. SPO slipped half a cent (-0.43%) to $1.15. Aveo Group announced an on-market buy-back of outstanding shares as allowed under the 10/12 limit, for on-going capital management purposes. Commencement of the on-market buy-back will be subject to its receiving lenders consents. During the 12-month period commencing on the later of 17 August 2017 and the date on which lenders' consents have been obtained. The Company/trust intends to buy back a maximum number 54.32m Stapled Securities. AOG added 2 cents (0.74%) to $2.73.

The NZX 50 added 30.85 points (0.41%) to 7,626.35 while the Nikkei rose 71.74 points (0.36%) to close at 20,225.09.

The Australian dollar was last quoted at 76.08 US cents.

Equities / Fixed Interest Close Change % Change 
All Ordinaries 5753 -6 -0.10
S&P/ASX 200 5714 -6 -0.10
Currency Close Pts Change % Change 
$A vs $US 0.7608 0.0025 0.32
$A vs GBP 0.5979

0.0019

0.32
$A vs EUR 0.6797 0.0016 0.24
$A vs YEN 84.94 0.11 0.13
$A vs $NZ

1.0405

-0.0006

-0.06