ASX 200 tops 8000, hitting record high
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The news: The Australian sharemarket reached a new high, after US market rose following favourable inflation figures late last week.
The numbers: The benchmark ASX 200 gained 0.73% to close at a record high of 8,019.6, with all 11 sectors finishing in green.
The best performing sector was IT, up 1.39%, followed by consumer discretionary (1.37%).
Nanosonics, up 4.44%, was one of the best performers across the ASX 200, after the medical devices maker reaffirmed its full-year guidance following a strong second half due to additional offerings and a growing order pipeline.
BHP ended 0.74% higher after it announced it had reached a deal with Brazil’s Vale to equally share the cost of any damages from court proceedings in the UK and Netherlands related to a 2015 dam collapse in Brazil.
Meanwhile, APM Human Services ended 0.36% higher after it secured $950 million in financing from Goldman Sachs to retire its existing syndicated corporate facility.
The worst performing sector was industrials (0.25%) followed by consumer staples (0.49%).
Lifestyle Communities shares plunged 18.14% after a media report detailed customer complaints regarding excessive fees, which the company denied. It was the worst performer across the ASX 200.
Aussie Broadband shares fell 13.73% after the telco lowered its earnings guidance as a result of the launch of its low-cost NBN brand Buddy Telco.
Lithium miner Liontown Resources ended 2% lower after signing a short-term supply deal with Beijing Sinomine International Trade.
The Star Entertainment Group shares fell 1.96% after it indefinitely suspended all electronic gaming machines and electronic table games due to unspecified system performance issues.
Champion Iron lowered 0.46% on news it had temporarily closed its Bloom Lake mine in Canada after forest fires forced the evacuation of a nearby city.
The Australian dollar is lower, buying 67.67 US cents.
The context: Overnight will see US Federal Reserve chair Jerome Powell speak at the Economic Club of Washington DC, where he may give clues as to the central bank’s next monetary policy decision.
Meanwhile, China’s third four-day plenum continues on Tuesday.
