The Market Wrap with Tony Sycamore, Market Analyst, IG Australia

Money News

The US rate cut decision sent Wall Street down, but Australia’s market still continues to hit new records.

MARKET WRAP:

• ASX200: up 0.09%, 8,205
• GOLD: $2,665 US/oz
• BITCOIN: $88,072 AUD

• Sigma healthcare had no new news on its planned merge with Chemist Warehouse but shares were up 7% to $2.05
• Mesoblast also took off closing up 8% to $1.35 well off its 52 week low of 25 cents
• In the REIT space Dexus up 2.6% to $7.78, Charter Hall 1.9% to $15.89 and Hotel Property Investments up 1 cent to $3.77.
• Pilbara Minerals was one of the worst after a block trade of $270 million was done at a 4% discount to its price yesterday shares down 4.8% to $3.15
• ARB corporation lost 5% to $44.26
• Droneshield lost 3.7% to $1.39
• GYG shares down 2% to $38.50. Collins Foods going the other way, up just under 2% to $8.77 on a broker rating

CURRENCY UPDATE:

• AUD/USD: 68.55 US cents
• AUD/GBP: 52.3 pence
• AUD/EUR: 62 Euro cents
• AUD/JPY: 100 Japanese yen
• AUD/NZD: 1.10 NZ dollars

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