Investors have suffered minor losses on the Australian share market to start a week that could turn tumultuous.
Monday, 26th October, 2020
The ASX200 benchmark index began higher from a good US lead but finished down 11.4 points, or 0.18 percent, to 6155.6 on Monday. The All Ordinaries closed lower 16.4 points, or 0.26 percent, to 6357.3. Financials and materials finished lower 0.36 and 0.55 percent respectively.
In the US, giants Apple, Facebook, Amazon and Google-parent Alphabet will report results, the nation is setting records for daily coronavirus infections and the presidential election campaign enters its final week.
On the ASX, Coca-Cola Amatil was best of the highly valued companies and rose 16.28 percent to $12.50 after Coca-Cola European Partners made an offer to buy the Aussie business. The European business is offering $12.75 per share and Amatil's directors expect to recommend shareholders accept. The share price surge helped consumer staples top the sectors. It was higher by 0.75 percent. Westpac warned of a $1.22 billion hit to earnings ahead of its full-year results next week. The bank outlined a series of write-downs and revaluations of its operations including life insurance worth $816 million. Shares finished lower by 0.43 percent to $18.70. Among major rivals, ANZ ended down 0.51 percent to $19.68, the Commonwealth was down 0.27 percent to $69.71 and NAB lost 1.02 percent to $19.33.
Meanwhile in mining, BHP shed 0.75 percent to $35.73, Rio Tinto was down 0.78 percent to $94.66 and Fortescue was lower 0.66 percent to $16.61. The Aussie dollar was buying 71.16 US cents at 1722 AEDT, higher from 71.07 US cents at the close of trade on Friday.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7112||-0.0019||-0.26|
|$A vs GBP||0.5459||
|$A vs EUR||
|$A vs YEN||74.58||-0.05||-0.06|
|$A vs $NZ||