ASX ends lower
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The news: The Australian sharemarket fell following a drag from financials and extended losses from supermarkets.
The numbers: The benchmark ASX 200 dropped 0.13% to end at 8,142, with six out of 11 sectors finishing in red.
The worst performing sector was financials, down 1.87%, followed by consumer staples (-1.86%). The big four banks NAB (-3.09%), Commonwealth Bank (-2.85%), Westpac (-2.32%) and ANZ (-1.89%) all fell.
The worst performer across the ASX 200 was Light & Wonder as its shares plunged 17.77% after suffering a loss in its ongoing court case with Aristocrat.
Coles (-2.64%) and Woolworths (-2.63%) extended losses on the ASX after the consumer regulator commenced separate legal proceedings against the grocery giants over their discount pricing strategies on Monday.
REA Group lost earlier gains as it fell 0.2% as analysts were divided over the impact on its share price following the company’s improved takeover bid for the UK’s Rightmove.
The best performing sector was materials, up 2.43%, followed by energy (1.53%). Iron ore miners BHP (3.72%), Rio Tinto (3.8%) and Fortescue (1.7%) all rallied after China released new policy measures to help hit its annual growth target of around 5%.
Mineral Resources (6.53%) and Iluka Resources (6.14%) both rose after Morningstar named the pair among the cheapest commodities stocks on the sharemarket.
Fletcher Building gained 5.77% after completing the placement and institutional entitlement offer component of its NZD700 million ($642 million) equity raise.
Elsewhere, Cettire shares rocketed 74.44% after it confirmed its delayed audited full-year results and appointed Caroline Elliott as a non-executive director.
E&P Financial Group shares surged 18.29% after it requested to be removed from ASX due to a sustained negative impact on its share price following the collapse of Dixon Advisory.
Tuas shares jumped 13.03% after the ASX-listed Singapore telecoms business posted a narrower full-year loss amid strong growth in subscriber numbers.
The Australian dollar is buying 68.25 US cents.
The context: Overnight will see the latest US consumer confidence figures.
Wednesday will see the Australian Bureau of Statistics release the latest CPI figures.
Sigma Healthcare will release its half-year result while KMD Brands and Premier Investments release their full-year results.
