Stocks making moves or news on the ASX at the close on Wednesday, September 5:
BHP – BHP – down 88 cents, or 2.7 per cent, at $32.20
RIO – RIO TINTO – down $1.72, or 2.4 per cent, at $69.68
Both mining giants were hit by a broader decline in materials stocks following a drop in copper prices. BHP also announced Wednesday it is buying a $50 million stake in copper-gold explorer SolGold, the majority owner of a project in Ecuador.
DOW – DOWNER EDI – down 2 cents, or 0.3 per cent, at $7.78
Downer EDI has been awarded a five-year contract extension worth $286 million to continue providing mining services at the Commodore open cut coal mine in Queensland.
IOF – INVESTA OFFICE FUND – up 12 cents, or 2.3 per cent, at $5.44
Investa has adjourned a shareholder meeting set to vote on a takeover bid by Blackstone Group after receiving a rival offer from Canada’s Oxford Properties group.
ANZ – AUSTRALIA AND NEW ZEALAND BANKING GROUP -down 21 cents, or 0.7 per cent, at $28.59
CBA – COMMONWEALTH BANK – down 62 cents, or 0.90 per cent, at $70.11
NAB – NATIONAL AUSTRALIA BANK – down 19 cents, or 0.7 per cent, at $28.03
WBC – WESTPAC – down 37 cents, or 1.3 per cent, at $27.94
The big four banks reflected overall sentiment on the market, after a fall on Wall Street overnight amid lingering trade concerns over the threat of escalation in the United States-China trade war.
Westpac is still feeling the fallout from Tuesday’s $35 million fine after the bank admitted to wrongly assessing customers’ ability to repay mortgages.