The Market Wrap with Adam Dawes, Senior Investment Adviser, Shaw and Partners

Money News

James Hardie’s $14 billion deal wasn’t welcomed by the market, so was it done at the right time and for the right price?

MARKET WRAP:

• ASX200: up 0.07%, 7,936
• GOLD: $3,026 US/oz
• BITCOIN: $138,260 AUD

• Staples were down 1.7%
• Discretionary finished up 1.1%, with Wesfarmers, Aristocrat and Harvey Norman higher.
• The Lottery Corporation announced its CEO will step down at the end of the financial year, but shares managed to stay up 0.2%.
• NAB 2.2% higher, Westpac up 1.4%, Commbank 1.4% to the good, and ANZ up 0.8%.
• Going backwards by 26% was Helia which told the market its contract with Commonwealth Bank could expire by the end of the year.
• New Zealand-based Synlait Milk dropped 12%, despite posting a half-year net profit of NZ$4.8 million.
• Woolworths shedding 1.7% and Coles losing 2.1%

CURRENCY UPDATE:

• AUD/USD: 62.89 US cents
• AUD/GBP: 48.6 pence
• AUD/EUR: 58 Euro cents
• AUD/JPY: 94 Japanese yen
• AUD/NZD: 1.09 NZ dollars

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