Money: ASX closes lower for third straight day - - PressFrom - Australia
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MoneyASX closes lower for third straight day

02:55  17 july  2019
02:55  17 july  2019 Source:   msn.com

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The Australian share market has finished lower for a third day in a row, with every sector in the red except for industrials.

The Australian share market has finished in negative territory for the third day in a row ahead, as traders wait for some positive news.

ASX closes lower for third straight day© AAP Images The Australian share market has finished in negative territory for the third day in a row ahead, as traders wait for some positive news

The Australian share market has closed down for a third day, its first three-day losing streak since late May.

The benchmark S&P/ASX200 index finished down 12 points, or 0.18 per cent, to 6,641 points at 1615 AEST on Tuesday, while the broader All Ordinaries was down 10.4 points, or 0.15 per cent, to 6,735.8.

The energy, telecommunications and tech sectors were all down more than a percentage point, but the utilities and property sectors posted gains and consumer, mining and industrial stocks were collectively flat.

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The Australian sharemarket has fallen for a third straight day , underperforming compared to its peers in the region. The ASX 200 index finished Thursday The market opened higher but moved steadily lower most of the day , despite a positive lead from Wall Street and more modest losses in Asia.

Local shares have extended its winning run to a third session on Monday. Markets are cautiously optimistic after the US & China held low level trade talks

"A mixed bag, we've got some winners and some losers," said CommSec market analyst Steven Daghlian.

"I think the market is getting cautious as we get to reporting season" in August, Mr Daghlian said.

"There's an expectation that growth and profit could be quite modest."

Rio Tinto dropped 0.6 per cent to $103.25 after the mining giant said production was down because of weather and that design complications at an underground copper mine it is building in Mongolia could cost it an extra $2.7 billion.

But BHP was up 0.4 per cent to $41.16 and Fortescue Metals up 1.7 per cent to $8.99 after the price of iron ore rose two and a half per cent.

The energy sector was the worst-performing one of the day, down 1.4 per cent, after the price of oil closed lower overnight following production in the Gulf of Mexico resuming as the threat from Tropical Storm Barry passed.

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Every sector climbed higher on Wednesday as the sharemarket rallied for a third straight day on optimism the US and China will reach a trade deal.

The local sharemarket has rallied on Thursday with the ASX 200 rising 33 points or 0.6% to a fresh 9.5 year high of 6,049. It’s the third straight day the

Woodside Petroleum was down 2.2 per cent to $35.06, while Oil Search shares dipped 2.2 per cent to $7.18 after the Papua New Guinea company announced its second-quarter production had dipped five per cent to 6.9 million barrels of oil equivalent.

The big banks were all lower, with Westpac down 0.5 per cent to $27.66, NAB down 0.7 per cent to $26.84, Commonwealth down 0.3 per cent to $80.85 and ANZ down by a single cent, to $26.99.

Among tech stocks, Objective Corporation gained 11.1 per cent to a one-year high of $3.40, following on Monday's 8.9 per cent gains after the North Sydney software company announced its net profit was up 23 per cent for the year.

Consumer stocks were flat overall following a report by ANZ that consumer confidence fell over the weekend, with more people feeling cautious about the state of the economy and their own finances.

Kmart owner Wesfarmers was up 0.4 per cent to $38.03, while Woolworths slid 0.1 per cent to $34.06.

Australia shares likely to start week lower; New Zealand down

Australia shares likely to start week lower; New Zealand down Australia shares likely to start week lower; New Zealand down

The Australian sharemarket has closed lower for a fourth straight day , after a vote in the British House of Commons cast the Brexit process into disarray. The benchmark S&P/ ASX 200 index was down 13.6 points, or 0.22 per cent, to 6,161.2 points at 1615 AEDT on Wednesday, while the broader

The Australian share market has recovered from its morning losses to finish up for a fifth day , despite losses in the mining sector.

In the defensive property sector, Vicinity Centres, Scentre Group and Dexus were all up between 1.5 and two per cent.

Telstra meanwile was down 1.8 per cent to $3.74, while Kiwi utility Meridian Energy gained 6.6 per cent to hit an all-time closing high of $4.70.

The Aussie dollar is buying 70.34 US cents, from 70.33 US cents on Monday.

ON THE ASX:

* The benchmark S&P/ASX200 index was down 12 points, or 0.18 per cent, to 6,641 points at 1630 AEST on Tuesday.

* The All Ordinaries was down 10.4 points, or 0.15 per cent, to 6,735.8.

* At 1630 AEST, the SPI200 futures index was flat at 6,582.

CURRENCY SNAPSHOT AT 1630 AEST:

One Australian dollar buys:

* 70.31 US cents, from 70.33 US cents on Friday

* 76.00 Japanese yen, from 75.93 yen

* 62.47 euro cents, from 62.38 cents

* 56.26 British pence, from 55.96 pence

* 104.NZ cents, from 104.63 cents.

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All sectors red as ASX opens lower.
All sectors of the Australian share market have opened in negative territory.

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