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

Money News

The American election has turned another corner, with Joe Biden dropping out of the race. But will that shift US markets at all?

• ASX200: down 0.50%, 7,931
• AUD: 66.65 US cents
• GOLD: $2,405 US/oz
• BITCOIN: $100,903 AUD

• The Energy sector was the hardest hit, with only the Consumer Staples & Discretionary sectors escaping the falls.
• A 2.1% dive for Woodside after it made a $900 million US dollar move for an American LNG developer.
• Whitehaven dropped 4%, Beach fell 2.6%, while Karoon lost 2.1%.
• BHP fell 0.3%, and Fortescue dropped 0.5%, while South 32 plunged almost 13% after it sent a warning on the viability of the Worsley alumina refinery.
• Commonwealth was the sole major bank to escape the red.
• Gains in the Staples sector saw Treasury Wines lift 1.9%, Coles up 1.3% and Endeavour rising 1.5%
• Insignia Financial jumped 5% to $2.50 as it said it expects better than expected earnings.
• While there were also gains of 1% or more for Cochlear, Yancoal and JB Hi-fi.

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