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Aussie shares are extending losses from last Friday as it starts the new week in negative territory. The ASX 200 is down 11 points or 0.15% to 7,296 around midday. Local losses follow a mixed session from US markets over the weekend, the S&P 500 index hit fresh all-time highs.

The IT sector is by far the worst performing sector with a 3% decline. Property and industrials are among the other larger falls while financials are in the red. Consumer staples and healthcare are the outperformers with energy and materials also improving.

Travel stocks are generally lower after the weekend decision to put greater Sydney and surrounding areas into a two week lockdown. Qantas (QAN) is down 4.3% with a 3.5% drop for Webjet (WEB). Flight Centre (FLT) is 1.5% softer.

Afterpay (APT) is one of the leading decliners individually with the buy-now pay-later (BNPL) provider sliding 7% so far today. Still, the stocks has still rallied ~29% in the month of June. Fellow BNPL name, ZipCo (Z1P) is also lagging with a 5% drop so far. Z1P is up ~10% in June. Both stocks were also among the most traded stocks among CommSec clients last week along Woolworths (WOW), and Commonwealth Bank (CBA).

Woolworths (WOW) is leading the consumer staples higher as the stock rises 2.7%. The demerged Endeavour Group (EDV) is rising 4.2%. Coles Group (COL) is 0.3% higher while Metcash (MTS) rises 1.8%. MTS released FY21 earnings results this morning with the company swinging back into a statutory profit after tax of $239 million from a $56.8 million loss last year.

Westpac (WBC) is down 0.4% having announced it is selling its motor vehicle dealer finance and novated leasing businesses to Angle Auto Finance. Nine Entertainment (NEC) is lower by 0.7%.Its streaming service, Stan, has acquired the rights for UEFA club competitions including the Champions League, Europa League & Super Cup on a three year deal. Stan Sport has ~150,000 subscribers since
its February launch and will report costs of approx. $70 – $90 million in FY22.

The Aussie dollar is little changed and buys 75.79 US cents with no major economic data out today.

Published by CommSec